Federal employee news on retirement: FERS, CSRS, TSP performance, 2023 COLA update and more.
Are you living in a “common law” arrangement? Do you want to ensure your husband or wife receives your federal retirement annuity? If you think the conversation will be unpleasant, consider the consequences of not having the conversation.
Will boomers retire as their parents did? Will there be a retirement tsunami as predicted by OPM? No one knows but here are a few predictions about how boomer mentality, changing technology and the need for qualified employees may come together to create a much different retirement scenario.
The annual COLA increase for federal retirees is still going up and will become effective in January 2007.
Most employees will never be rich and did not enter federal service with that goal in mind. On the other hand, how does one define “rich?”
The rate of inflation is continuing its upward trend. This means that federal retirees will get a bump up in annuity payments in 2007 to help cover the rising cost of living.
Retirement can be a time to reap the benefits of your lifetime of work. Keep in mind that you will still need an income and you may need more money than you think.
Nearing retirement? You are probably in the CSRS. Be thankful; you are in a system that is a remnant of America’s golden economic age.
Are you ready for retirement–however you define it? Plan ahead. Millions of Americans who once thought “don’t trust anyone over 30” may be wondering “will you still need me, will you still feed me, when I’m sixty-four?”
The COLA adjustment for retirees won’t be final until the September figures are calculated. For now, the differential is 3.1%.
A court of appeals finds that OPM had an obligation to to check out the facts of a case that impact the election of a survivor annuity. The case is therefore sent back to the Board for a new decision based on the finding of the court.
