OPM should pay new retirees 100% of the retirement estimate provided by the employing agency. In those few cases where this turns out to be too much, OPM can easily make deductions from future payments. And when the estimate is too low, they can pay more, to catch up. Either way, equity will be served.
Over the years, OPM (Office of Personnel Management) processing time for calculating annuities for new retirees has gotten progressively worse. Is it the increasing workload that is causing the problem? Here are the statistics.
Recent recommendations in Congress could have a negative impact on the cost of living adjustment (COLA) for federal employee retirees.
A change to the contribution to be made by federal employees to their defined benefit pension has been proposed in a new budget proposal unveiled this week. What would this change mean for most federal employees?
What is the CSRS offset program and how is it different from the Civil Service Retirement System (CSRS) and the Federal Employees Retirement System (FERS)?
When is the best day to retire? It depends. Here are a couple of examples and how it may impact your finances.
How much will you receive in retirement income when you retire under the Civil Service Retirement System (CSRS)? Here are some examples that will demonstrate how your retirement income is calculated.
How much will you receive in retirement income when you retire? Here are some examples that will demonstrate how your retirement income is calculated.
A Federal employee with prior military service has the option of making a deposit into the retirement fund, in order to receive credit for this service in his annuity. Is it worthwhile for the employee to make the deposit?
The Author says he wondered why, back during the Reagan administration, his paycheck went down. Here is the answer as to why and how federal pay was reduced and that you may still be receiving less than your nominal annual salary.