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.
Like many people, this federal retiree left government service with high hopes and plans for the future. Some worked out well but the reality of health and financial issues brought home to this author how life can change after retirement. He offers advice on how to live and which decisions may be the most important ones after leaving government service.
FERS employees and CSRS employees get the same sick leave benefit–until the computation of a retirement annuity. A bill passed by the House on July 30 would change the current system.
Here is a reality check for readers. Inflation is alive and well. Federal retirees are on track for an increase of 5.7% next year–with another three months to go before the final figure is known. Federal employees may get an average of 3.9%–or there may be a continuing resolution that would delay finalizing the budget until 2009.
Where can you get answers to your retirement questions? Here are a few suggestions.
Author John Grobe recently asked FedSmith readers which topics were of most interest on the topic of federal retirement. The answer: Should a federal retiree who is nearing 65 sign up for Medicare’s Part B? Here is an explanation of the considerations in making this decision.
One question that frequently arises, especially as a person gets closer to retirement, is “Do I need long-term care insurance?” Here are some guidelines that may help you decide.
Deposits and redeposits of retirement funds for civilian service is simpler (and harsher) for FERS employees than for CSRS employees. Here is how it works.
Riding through the ups and downs of the stock market can be exasperating. Is this a good time buy more of the TSP stock funds or a good time to sell them?
When deciding whether or not to re-deposit money, the most important thing to consider is when did the service for which you received a refund end? If it ended before 10/01/90, breathe a sigh of relief. If it ended 10/01/90 or after, pay it.
Marriage, divorce, remarriage and federal retirement benefits are a volatile mix. The money available is finite, there is often considerable emotion involved, and someone is going to get more money while another person may get less. In this case, wife number one thought she should get the maximum survivor annuity from her former husband. And, in this case, wife number one is the winner.
