If passed, the legislation would guarantee that federal retirees in the Federal Employee Retirement System (FERS) and the Civil Service Retirement System (CSRS) both receive the same annual percentage cost of living adjustment each year more…
Recent Articles
Types of Thrift Savings Plan (TSP) Loans
There are two types of Thrift Savings Plan loans: General purpose loan with a repayment… more…
TSP Participants Should Carefully Examine 2020 Form 1099-R Statements
Federal benefits expert, Ed Zurndorfer, explains why some are receiving a Form 1099-R for 2020 as a result of the COVID-19 pandemic and how the information will be included on the TSP participant’s 2020 federal income tax return more…
House Democrats Propose 3.2% Pay Raise in 2022 for Federal Employees
If passed, the law would mandate an across-the-board increase of 2.2% and a 1% increase in locality pay more…
Recharacterizing IRA Contributions Are Still Permissible Under Current Tax Law
Federal benefits and tax expert, Ed Zurndorfer, discusses what a recharacterization is, and how it can benefit federal employees and annuitants who may have contributed to the wrong type of IRA for the year 2020 more…
Elimination of WEP and GPO Proposed in Bipartisan Legislation
The WEP and GPO reduce or eliminate Social Security benefits for many that are those who are covered by government-sponsored pension plans more…
Most Federal Employees Will Get Higher Annual Leave Carryover
The 2021 National Defense Authorization Act allows eligible federal employees to carry over an additional 25% of unused from 2020 into 2021 due to the COVID-19 pandemic. Guidance has been issued by the Office of Personnel Management more…
Federal Employees Should Check W-2 Forms for Elective Deferrals in 2020
Did you contribute to more than one defined contribution plan in 2020 (such as the TSP, 401(k) and 403(b) plans)? Federal benefit expert, Ed Zurndorfer, discusses what a federal employee has to do if they exceed the $19,500 contribution limit for 2020 more…
IRS Begins Delivering Second Round of Stimulus Payments
The Internal Revenue Service has issued FAQs on the the second round of payments — which are generally $600 for singles and $1,200 for married couples filing a joint return — authorized by the newly enacted COVID-relief legislation more…
Many Federal Employees Need to Pay Back Deferred Payroll Taxes Starting January 2021
Federal benefits expert, Ed Zurndorfer, explains how the new payback timeline will work, and outlines what actions federal employees should take more…