Federal employee retirement news: news about retirement related topics as it pertains to employees of the federal government. Topics include FERS, CSRS, the latest TSP performance, 2023 COLA update and more.
Retirement is a desirable goal for most people. Are you being honest with yourself about how much money you will have and how much you will actually need? Here are some common lies people tell themselves about retirement.
As a federal employee, you cannot invest in a Roth IRA within the Thrift Savings Plan. But you may still have the option of using a Roth IRA to invest in your retirement future.
A retired civil service employee may have determined the control of the Senate when she received about 1% of the vote in a very close election race.
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.
