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…