The form allows the named beneficiary to receive any lump-sum benefit which may become payable under CSRS or FERS more…
Social Security Trustees Predict Reduced Benefits in 2033 Without Legislative Action
The Old-Age and Survivors Insurance (OASI) Trust Fund is projected to become depleted in 2033, one year sooner than last year’s estimate, with 77 percent of benefits payable at that time, according to the Social Security Board of Trustees annual report released Friday more…
Legislation Would Add Inspector General to Thrift Savings Plan
The goals are to create new accountability mechanisms and to fix widespread problems from the TSP’s rollout of new website features last year more…
2024 Federal Pay Raise Proposed at 8.7% by Lawmakers
If passed, the proposed Federal Adjustment of Income Rates (FAIR) Act in the House and Senate would provide a base pay raise of 4.7% plus a 4% average locality pay increase. Several employee groups have endorsed the legislation
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2024 Federal Pay Raise of 5.2% Proposed in White House Budget
If implemented, this would be the largest pay increase for federal workers in 40 years more…
Proposed Bill Would Exempt Social Security and Medicare from Debt Ceiling
Recently introduced legislation would keep Social Security and Medicare from being used in negotiations over the federal government raising the debt ceiling more…
Legislation Reintroduced to Postpone Federal Employees’ Payment Obligations During a Government Shutdown
If passed, the Federal Employee Civil Relief Act would enable government employees and contractors to postpone payment obligations during a shutdown or debt default and for 30 days afterward more…
Many Thrift Savings Plan Forms Now Online, Some Older Forms Obsolete
The Thrift Savings Plan recently announced that it has created new forms and online tools and declared prior versions of some old forms obsolete more…
The 5-Year Rule: Keeping Your Federal Health Benefits and Life Insurance After Retirement
Don’t overlook these important rules when planning for federal retirement more…
More Than Half of Retirees Worried 2023 COLA Is Not Enough
While the 2023 federal retiree cost-of-living adjustment increase was the largest in nearly four decades, a new survey suggests that American retirees are worried that it’s not enough to cover rising costs this year more…