Tag: Benefits

Self Plus One Health Insurance Effective January 1, 2016

Filed in News by on March 25, 2014

The self plus one enrollment option for federal employee health insurance will be available for enrollment on November 9, 2015. Copy of the OPM letter is contained in the article.

Continue Reading »

For New Retirees: More Money in the Interim Payment

Filed in News by on March 19, 2014

When Federal employees retire, they start getting “interim” payments, almost immediately. These payments are approximately 60% of the final, fully annuity. For FERS employees under age 62, there is also an annuity supplement of hundreds of dollars. The author offers details on these annuity payments.

Continue Reading »

The Real Cost of the Chained CPI

Filed in News by on February 20, 2014

The author says that the chained CPI which the president recently dropped from his budget proposal would actually have been a good thing because of its potential to help with reducing the national debt. He notes that the actual cost to federal retirees from the chained CPI would have been less than the cost of a pizza each month and illustrates its financial impact for federal pensioners.

Continue Reading »

Maximizing Your Social Security Benefits: ‘File and Suspend’

Filed in News by on February 11, 2014

The author discusses a strategy for maximizing Social Security benefits known as “file and suspend.” In addition to detailing who can use this strategy, he outlines some examples of how it might work.

Continue Reading »

Notes on the Windfall Elimination Provision (WEP)

Filed in News by on February 5, 2014

The Windfall Elimination Provision (WEP) means if you are getting a Social Security benefit as well as a pension where you did not pay into Social Security, your Social Security benefit is reduced. The author provides examples of the financial impact this can have on your earnings.

Continue Reading »

Maximizing Your Social Security Benefits

Filed in News by on February 4, 2014

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.

Continue Reading »

Understanding and Getting the Most Out of FERS

Filed in Headline Archives, News by on January 22, 2014

FERS is a complex system and much depends on an individual’s status with the government when planning for what to expect upon retirement. The author offers a basic guide to help understand some of the key points of the FERS system.

Continue Reading »

FEGLI Premiums in 2014

Filed in Headline Archives, News by on January 13, 2014

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.

Continue Reading »

Free Email Updates

Sign up for our free email updates to get our latest news sent directly to your inbox
  • Our top stories sent each business day
  • More news from your FedSmith.com authors
  • The day's closing prices for the TSP funds
  • Videos for the federal workforce