The House Budget Committee has approved a measure that would increase pension contribution amounts for federal employees.
We all know Federal employees are going to pay more for their pensions, and at retirement they will receive less. It may not be as bad as you think though.
What happens to your survivor annuity if you are a retired federal employee and there are changes in your life such as a death or divorce?
Congress has passed the payroll tax cut extension agreement and the President is expected to sign it. But what exactly are the details of the agreement as they relate to federal pensions?
The author illustrates a hypothetical scenario of two FERS employees with identical salary histories to show the dramatic impact the recently proposed pension reduction bill, as currently written, would have on future federal retirees.
The FERS annuity supplement is commonly believed to be linked to the Social Security Administration (SSA), even to the point where some believe the benefit is actually administered by SSA rather than the Office of Personnel Management (OPM), but this is not the case.
Federal employees are often being asked to do more work without any more reward. A common lament is that the work keeps piling up as more employees leave, and it just isn’t worth it if retirement benefits are going to be re-structured, on top of it. The author offers some tips to see if retiring earlier is worth doing.
The author walks the reader through some examples to illustrate that the CSRS retirement system may not be better than the FERS retirement system, despite popular belief to the contrary.
The President has released a proposal outlining his ideas for ways to cut the growing federal deficit. The plan aims to make as much as $3 trillion in cuts, some of which would directly affect federal employees if they were to be enacted.
There is a great deal of interest in the high-5 calculation for federal retirement. Is it really going to happen? When will it take effect? How will it work? Is there some way I can estimate “right now” how much difference it will make?