According to data recently released from the Federal Retirement Thrift Investment Board for August, approximately one in every five TSP participants has a loan outstanding against his or her account.
A recently published book aims to help federal employees understand the Thrift Savings Plan and how to better save for their retirement.
GOP Presidential candidate Rick Perry has released his plan for cutting federal spending and reducing the deficit. It contains some proposals that are likely to be of interest to federal employees.
TSP participants will have more room to save for retirement with the annual contribution limits for the TSP increasing to $17,000 per year in 2012.
The COLA percentage amount for both FERS and CSRS was announced on October 19. OPM has issued official guidelines on how to calculate your COLA increase.
Senator Patty Murray (D-WA) has put forth legislation that passed the Senate that would give veterans a 3.6% COLA to match that of Social Security recipients.
Presidential Candidate Ron Paul recently released his “Plan to Restore America” as part of his campaign. It contains a myriad of spending cuts, some of which are directly related to federal employees.
At the end of last week, House Oversight Committee Chairman Darrell Issa (R-CA) sent a letter to the Joint Select Committee on Deficit Reduction (the “super committee”) recommending that it adopt some specific cuts to the federal workforce.
Senator John Thune (R-SD) has introduced legislation that would create an option for individuals who believe they are under-taxed to voluntarily send extra money to the U.S. Treasury.
Senators Joe Lieberman (I-CT) and Susan Collins (R-ME) said in a letter to the “super committee” that federal employees “must sacrifice as part of an urgent need to curtail the cost of the federal government and reduce the national debt.” This is a summary of their cost cutting recommendations.
