How much does an individual federal employee make? The database of federal employee salaries has been updated with the latest available salary data and is now available for use.
OPM is pushing to have agencies submit complete retirement processing packages to speed up the process. Here are some common errors to avoid that may help speed your application along.
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.
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.
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.
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.
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.