The National Active and Retired Federal Employees Association (NARFE) has asked the House of Representatives’ Oversight and Government Reform Committee to consider extending the probationary period covering new federal employees.
Federal retirees who are also enrolled in Medicare part B will be glad to know that the budget deal put forth in the House includes language to protect them from a sharp increase in premiums.
An individual who reaches the age of 65 becomes eligible for Medicare. However, if at the time they become eligible for Medicare, they are working at a job that provides them with health insurance, they will not be subject to the 10% Medicare Part B late enrollment if they enroll in Medicare Part B later than age of 65, as long as they enroll within the eight months after they retire.
The National Active and Retired Federal Employee Association (NARFE) has started a web page devoted to opposing the projected 52% increase in Medicare Part B premiums.
An aging population of federal employees means that many are leaving federal service due to retirement. The National Active and Retired Federal Employees Association (NARFE) argues that this means there could be a damaging loss of institutional knowledge these federal workers take with them. However, the author points out that the turnover rate among federal employees is very low compared to the private sector and says that the loss of institutional knowledge from retiring federal workers might not be as bad as NARFE is projecting.
Senators Brian Schatz (D-HI) and Barbara Mikulski (D-MD) are introducing companion legislation to go with a a House bill introduced earlier this year that would give federal employees six weeks of paid parental leave the birth, adoption or foster placement of a child.
With Congress back in session this week, John Hatton, deputy legislative director for NARFE, told FedSmith.com that his organization has several priorities in terms of legislation it wants to see passed by Congress to help federal employees, including avoiding another government shutdown and interest rate cuts to the TSP’s G Fund.
Federal employee groups have been expressing their displeasure this week with the president’s proposed pay raise for 2016.
Are the funds inside of your TSP account being put in jeopardy by financial advisors who aren’t looking out for your best interests? This matter was discussed at a Department of Labor hearing last week on a proposed rule change governing the conduct of financial advisors.
Congressman Michael Honda (D-CA) has re-introduced the CPI-E Act of 2015 which would adopt a measure of inflation more tailored to the costs of older Americans. What impact could this have on your annuity?