OPM should pay new retirees 100% of the retirement estimate provided by the employing agency. In those few cases where this turns out to be too much, OPM can easily make deductions from future payments. And when the estimate is too low, they can pay more, to catch up. Either way, equity will be served.
The author poses the question, with all the noise around shrinking government and making federal employees out to be the “bad” guys, what would the real effects of some of the current proposals be?
Over the years, OPM (Office of Personnel Management) processing time for calculating annuities for new retirees has gotten progressively worse. Is it the increasing workload that is causing the problem? Here are the statistics.
Recent recommendations in Congress could have a negative impact on the cost of living adjustment (COLA) for federal employee retirees.
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)?
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.
How much will you receive in retirement income when you retire under the Civil Service Retirement System (CSRS)? Here are some examples that will demonstrate how your retirement income is calculated.
How much will you receive in retirement income when you retire? Here are some examples that will demonstrate how your retirement income is calculated.
When a Federal employee finds his medical condition prevents one from performing one or more of the essential elements of the job, he is considered “disabled” under the Law, and therefore eligible for Federal Disability Retirement benefits. Such an individual will often not be accommodated by the Agency, if only because “accommodation”is a difficult requirement to fulfill.