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.
Are you interested in a new program that may enhance your future retirement? Back in June 2009, legislation was passed authorizing creation of a Roth plan using after-tax salary into an account that will grow without any additional tax liability on future earnings. That option is now being implemented.
Were you in the military prior to 2002? Are you going to qualify for Social Security? If you answered “yes” to both questions, I have good news for you! You are going to receive extra earnings credits, which will result in a higher Social Security benefit. Here’s how it works.
Every year various agencies update numbers (generally dollar amounts) for benefits that impact federal employees and retirees. Not every agency has issued all their 2011 updates, but many of them have. Here are some of the more important financial numbers for the federal workforce in 2011.
Many people are curious about the best day to retire in 2011. Well, the best day to retire in 2011 is the same as it was in 2010; that is December 31st. This is especially important for those who are planning on receiving a large annual leave payment, as the leave year ends on December 31, 2011 and anyone who retires after that date will lose any excess use-or-lose leave they have accrued.
The National Commission on Fiscal Responsibility and Reform has issued its report on ways to reduce the deficit and federal spending. Here are some of the key points in the report that are likely to be of most interest to readers.
What is the FERS annuity supplement and how is it calculated? The author says that OPM is over-paying FERS annuity supplements because of differences in how OPM calculates the supplement from how the Social Security Administration calculates payments.
This article quantifies some of the changes that have been proposed to the federal retirement system. How much would a pay freeze impact your future income? How much of an impact would you see if the “high three” were changed to a “high five?” Here are examples of how you may be impacted.
Will federal “deposit service” impact your federal retirement annuity? It may impact CSRS and FERS employees in different ways. Here is an explanation of how this could impact your future retirement income.
Military service is generally creditable for civilian retirement, but it must be paid for by the employee. This is referred to as “buying back” the military time, or making the “military deposit.” Sometimes it pays to buy back the time and other times it does not.
These are 10 things to keep in mind when applying for FERS disability retirement.
