How are you coping in the current economic climate? Many federal retirees are having to “economize” in some form or other in order to maintain our standard of living. Here is the experience of one federal employee who took his money out of the Thrift Savings Plan and invested on his own.
What is the link between the “Family Smoking Prevention and Tobacco Control Act”, and the Thrift Savings Plan? They are part of the same legislative package in the House of Representatives.
Active federal employees save about $820 a year because they are able to pay for health insurance out of pre-tax money. A bill introduced in the House would give the same benefit to federal civilian retirees as well as active duty military personnel and retirees.
HR 1203 would federal civilian annuitants as well as active duty military personnel and retirees to pay their health insurance premiums with pre-tax compensation (also known as “premium conversion”).
If you have not already taken a minimum required distribution (MRD) from your Thrift Savings Plan (TSP) or your Individual Retirement Account (IRA) for 2008, you must take it by April 1, 2009.
Now that the economic stimulus package has been passed into law, the bill has actually been printed and organizations and going through it to find out what this new law contains. Federal retirees will be eligible for an additional $250.