The House Budget Committee released its budget proposal for 2017 last week, but details at the time were lacking about what it might mean for federal workers. However, a new report from the Committee gives federal employees a glimpse into what the House budget would mean for them.
No one lives forever, but you will leave survivors. Your federal employee benefits are valuable and can affect those that survive you. The author details what federal workers can expect to happen with regards to their benefits if they pass away after retiring from federal service.
The big news for federal employees in the President’s recently released budget proposal was that it called for a 1.6% pay raise for the federal workforce, however, the author notes that there is a lesser known albeit important part of the budget that also affects federal workers.
The G Fund is one of the most popular funds among TSP participants, however, as the author notes, there is a lesser known risk associated with having too much of one’s retirement savings inside of the G Fund that many federal employees are likely to overlook.
The Office of Personnel Management saw yet another surge in the number of new retirement applications come in during February, pushing the outstanding backlog higher. OPM is aware of the problem and wants more funding to hire more people to fix it. Will this approach work?