The CSRS Voluntary Contribution Program has been available to CSRS or CSRS Offset federal employees for many years. It can be a very useful option to significantly increase retirement savings. The author explains some of the details of this program.
The author says that studies comparing federal benefits to those in the private sector miss a key issue and that there are substantial differences in the benefit packages across industry sectors.
There is a lot of guidance available on the federal benefit package for new employees starting their careers at a young age, but there are also unique and important considerations for those starting later. The author provides considerations for federal workers beginning their careers at later ages.
President Obama has issued an executive order giving federal employees an extra paid holiday on Friday, December 26.
The self plus one option under the federal health insurance program will be available during the open season in 2015. It will likely benefit many in the program but some federal employees are likely to have higher premiums in 2016 as a result of the change.
There are potentially five different service computation dates that are used to determine your benefits as a federal employee with which you should be familiar. The author provides details about each one.