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, annual COLA updates, and more.
The latest budget proposal from the administration does not adopt many of the recommendations from the deficit reduction commission and does not propose substantial changes to the federal retirement system. Here are some of the changes proposed to save money by the federal government that will impact some in the federal community–including one agency where the agency would initiate a buyout of jobs no longer needed.
Recent recommendations in Congress could have a negative impact on the cost of living adjustment (COLA) for federal employee retirees.
On average, Americans think the federal government spent 10 percent of its 2010 budget on pensions and retiree benefits; the OMB figures indicate the real number is about 3.5 percent. Another area that is not often talked about is the big difference for federal workers and state workers is that federal employees pay significant premiums for their health insurance.
OPM said in a statement that checks and direct deposits for federal retirees will still be distributed as usual on the first business day of the month.
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?
Here is a real story about someone who had enough money to retire but got caught up in chasing rates of return and had to return to work. Before you allocate your TSP, make sure you stay focused on your goals — not just chasing the highest rates of return.
What is the Special Retirement Supplement (SRS) and why is it important for FERS 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)?
This bill would end the defined benefit pension portion of the Federal Employee Retirement System (FERS) for new federal government hires starting in 2013. Current federal employees would not be affected, but it would apply to members of Congress.
Senators Richard Burr (R-NC) and Tom Coburn (R-OK) have introduced the Public-Private Employee Retirement Act of 2011 which would end the defined benefit pension portion of the Federal Employee Retirement System (FERS) for new federal government hires starting in 2013. Current federal employees would not be affected, but it would apply to members of Congress.
