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There is a lot of uncertainty facing federal employees these days, and one idea that has been floated is reducing the size of the federal workforce. One way to do this is by offering buy outs. The author offers some details you need to know if you are considering a buy out.
The Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) are two provisions of the Social Security law that affect Social Security benefits to which CSRS retirees may be entitled. The author provides some details about these as they relate to federal employees.
Would you like to get a 32% higher Social Security benefit? How about being able to collect ½ of your spouse’s Social Security benefit while you are still working; with no earnings test? The author explains a technique called “restricting your benefits” that can work for many FERS or CSRS employees to boost Social Security benefits.
Upon receiving the leave and earnings statement for the first full pay-period of 2014, many employees will notice that their premiums for Federal Employees Group Life Insurance (FEGLI) have increased. The author offers some details on what you can expect.
The concept of a “best” day to retire is more often than not related to financial considerations, specifically maximizing your lump-sum annual leave payment. The author offers some details on how to best make this decision.