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.
With an increased concern over tax rates, there is compelling need to protect what may be for many individuals their largest single asset: their retirement plans. The author outlines critical decisions that she says must be made before January 1, 2013 as they relate to tax implications in planning for retirement.
Now that the country has gone through a polarizing election and billions of dollars and untold hours have been spent to determine the will of the American people, what has changed and what will be the impact on the federal government and federal employees?
According to OPM’s monthly progress report on its retirement claims backlog, the number of claims received in October was much lower than the number received in September, but the number of claims actually processed was about the same as the previous month.
Hurricane Sandy caused the federal government and stock market to shut down for two days, but despite that, federal retirees shouldn’t see a disruption in their retirement income.
The author explains some common misconceptions about how sick leave is credited for retirement purposes.
A new survey reveals that for many Americans, planning for retirement has become a “guessing game,” with 75% of respondents reporting their retirement calculations as being based on a best guess.
The author offers some details and example calculations on the lump sum, survivor annuity, and life insurance benefits.
The Internal Revenue Service recently announced 2013 contribution limits for employees who participate in the Thrift Savings Plan.
The Middle Class Tax Relief and Job Creation Act of 2012 makes two significant changes to FERS.
The author says that the purpose of the 1983 payroll tax hike was to generate Social Security surpluses for the next 30 years, but instead of following that plan, the government spent the money out of the general fund, thus using up the revenues on other government programs.
