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
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
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
Proposed Bill Would Repeal Federal Taxes on Social Security Benefits
If passed, the You Earned It, You Keep It Act would repeal all of the federal taxation on Social Security retirement benefits beginning in 2023
White House Formalizes Average 4.6% Pay Raise for Federal Employees in 2023
TThe president’s alternative pay plan is an across-the-board base pay increase of 4.1% and a locality pay increase of an average of 0.5%
Locality Pay Increases Could Affect 30,000 Federal Employees
The Federal Salary Council recommended a list of new locality pay areas and adjustments that would improve the salaries of nearly 30,000 federal employees if implemented
GAO Agrees to Investigate Problems of New TSP Website
Thrift Savings Plan participants have reported difficulties accessing accounts, discrepancies in account balances, missing or incomplete information, and hours-long wait times to reach customer service since the June roll-out of new features
NARFE Urges Congress to Waive Required Retirement Savings Withdrawals Due to High Inflation
The National Active and Retired Federal Employees Association asked Congress to suspend the requirement that retirees age 72 and older take distributions (RMDs) from retirement savings accounts such as the Thrift Savings Plan
TSP Issues Notice on Changes to Participant Statements
Due to a recent transition of the Thrift Savings Plan’s recordkeeping services, there are several changes that affect delivery of statements — and the way contributions and beneficiaries are displayed
House Effectively Endorses 2023 Pay Raise of 4.6%, Proposes Inflation Bonus for Some Federal Employees
The House’s silence on federal pay essentially puts the White House plan in effect by default. A 2023 inflation bonus for some employees was included in the House’s version of the NDAA