2011 Financial Numbers for Federal Employees

Every year various agencies update numbers (generally dollar amounts) for benefits that impact federal employees and retirees. Not every agency has issued all their 2011 updates, but many of them have. Here are some of the more important financial numbers for the federal workforce in 2011.

Every year various agencies update numbers (generally dollar
amounts) for benefits that will impact federal employees and retirees. Not every agency has issued all their 2011
updates, but many of them have. Here are
some of them. Many of them represent no
change from last year. Here is financial information that will be useful to those in the federal community.

  • Maximum taxable earnings for Social Security – $106,800
  • Quarter of coverage (credit) under Social Security – $1,120
  • Earnings test for under full retirement age for Social
    Security and FERS Special Retirement – $14,160
  • Earnings test for full retirement age for Social Security –
    $37,680
  • Medicare Part A deductible – $1,132
  • Medicare Part A co-pay for 61 to 90 days – $283
  • Medicare Part A co-pay for lifetime reserve days (60) – $566
  • Medicare Part B deductible – $162

 

Medicare Part B premiums:

 

Single Filing Status

Joint Filing Status

You Pay

$85,000 or less and receiving SS benefits in 2009

$170,000 or less and receiving SS benefits in 2009

$96.40

$85,000 or less and receiving SS benefits in 2010 but not
in 2009

$170,000 or less and receiving SS benefits in 2010 but not
in 2009

$110.50

$85,000 or less and not receiving SS benefits in either 2009 or 2010

$170,000 or less and not receiving SS benefits in either
2009 or 2010

$115.40

$85,001 to $107,000

$170,001 to $214,000

$161.50

$107,001 to $160,000

$214,001 to $320,000

$230.70

$160,001 to $214,000

$320,001 to $428,000

$299.90

Above $214,000

Above $428,000

$369.10

 

  • Interest rate for civilian deposits and re-deposits for CSRS
    and FERS (calendar year 2011) – 2.75%
  • Interest rate for military deposits for CSRS and FERS
    (fiscal year 2011) – 2.844% 

 

Phase out on deductibility of contributions to a Traditional
IRA (applies to those covered by a retirement plan at work):

 

Single Filing Status

Joint Filing Status with Spouse Also Belonging to a
Retirement Plan at Work

Joint Filing Status with Spouse Not Belonging to a
Retirement Plan at Work

Fully deductible below $56,000

Fully deductible below $90,000

Fully deductible below $169,000

Partially deductible between $56,000 and $66,000

Partially deductible between $90,000 and $110,000

Partially deductible between $169,000 and $179,000

Not deductible over $66,000

Not deductible over $110,000

Not deductible over $179,000

 

Phase out on ability to contribute to a Roth IRA:

 

Single Filing Status

Joint Filing Status

Full contribution below $107,000

Full contribution below $169,000

Partial contribution between $107,000 and $122,000

Partial contribution between $169,000 and $179,000

No contribution over $122,000

No contribution over $179,000

 

Agencies can request to have John Grobe, or another of Federal Career Experts' qualified instructors, deliver a retirement or transition seminar to their employees. FCE instructors are not financial advisers and will not sell or recommend financial products to class participants. Agency Benefits Officers can contact John Grobe at johnfgrobe@comcast.net to discuss schedules and costs.

About the Author

John Grobe is President of Federal Career Experts, a firm that provides pre-retirement training and seminars to a wide variety of federal agencies. FCE’s instructors are all retired federal retirement specialists who educate class participants on the ins and outs of federal retirement and benefits; there is never an attempt to influence participants to invest a certain way, or to purchase any financial products. John and FCE specialize in retirement for special category employees, such as law enforcement officers.