The Office of Personnel Management has updated it’s online calculator that projects annuity for FERS, CSRS and Thrift Savings Plan benefits to help federal employees more…
Recent Articles
How to Use the ‘Backdoor’ Strategy to Contribute to a Roth IRA
The backdoor Roth IRA strategy allows individuals to move funds into a Roth IRA even if they do not qualify to contribute to a Roth IRA because their income exceeds the allowable limits. Ed Zurndorfer discusses how the this strategy works — and how it can benefit some federal employees more…
OPM Reminds Federal Employees, Retirees to Use Updated Beneficiary Designation Form
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…
Understanding the Rules for Deducting Home Mortgage Interest
Ed Zurndorfer explains the home mortgage interest deduction and its limitations — plus how Tax Cuts and Jobs Act of 2017 (TCJA) resulted in significant changes to this deduction 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…
Some Face First Traditional IRA Required Minimum Distribution
Ed Zurndorfer discusses what a traditional IRA RMD is, how the RMD is calculated, and the IRS penalty for not making a timely RMD more…
Federal Retirement Planning Checklist for Retiring in 5-10 Years
The last 5-10 years of a federal employee’s service represents a critical period if the employee intends to retire at the time he or she wants and with sufficient pension income and benefits that will last throughout the employee’s retirement years. Ed Zurndorfer provides a general checklist for soon-to-be retirees 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…