The TSP website has a variety of helpful online calculators for federal employees that can assist in estimating the growth of contributions, maximizing agency-matching contributions, assessing tax treatment, determining retirement income from withdrawals, and estimating loan payments more…
Treasury to Suspend Investments to TSP G Fund, Some Federal Retirement Programs to Avoid Hitting Debt Ceiling
These actions have been taken before, and the Treasury Secretary made assurances that the federal programs affected “will be made whole.” more…
FEHB Could Be Wasting $1 Billion Per Year, GAO Report Says
The report indicates that due to a lack of information about the number of ineligible family members receiving payments, the Federal Employees Health Benefits program could be wasting nearly $1 billion each year more…
When Will the 2023 Federal Pay Raise Be Announced?
The White House and the Office of Personnel Management will take several steps this month to finalize the 2023 federal pay raise and publish the official pay tables more…
OPM Suspending Long-Term Care Insurance Applications Due to Premium Concerns
The carrier that operates the Federal Long Term Care Insurance Program (FLTCIP) issued a warning to the Office of Personnel Management that current premiums are unsustainable and it likely would have to request significant rate increases more…
New Start Dates for Medicare Part B Coverage in 2023
The Social Security Administration issued a reminder this week of upcoming changes in 2023 to Medicare Part B more…
Some 2023 FEHB Plan Premiums Are Higher for Self Plus One Than Family Coverage
OPM last week issued a list of FEHB plan choices where the enrollee share of premiums for the Self Plus One enrollment type is higher than for the Self and Family enrollment type for the 2023 plan year more…
Many Federal Employees Overlook Valuable Health Care Savings During Open Season, OPM Says
The Office of Personnel management encourages federal employees to consider the tax savings available through the Federal Flexible Spending Account during the open season starting Nov. 14 more…
Bill Repealing Social Security’s WEP and GPO Advances in House
The Social Security Fairness Act has secured 299 co-sponsors which now allows it to be considered for a floor vote under the House rules more…
2023 COLA Estimated to be 8.7%
A nonpartisan seniors group predicted last week that the 2023 cost-of-living adjustment for Social Security retirement benefits could be as much as 8.7% — the largest increase in nearly 40 years more…