In response to recent legislation and IRS guidance, the Federal Flexible Spending Account Program (FSAFEDS) is providing a Special Enrollment Period and new flexibilities for the 2020 and 2021 plan years to Health Care Flexible Spending Accounts (HCFSAs), Limited Expense Health Care Flexible Spending Accounts (LEX HCFSAs), and Dependent Care Flexible Spending Accounts (DCFSAs) more…
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Most Federal Employees Will Get Friday, June 18 Off for Juneteenth
President Biden is scheduled to sign the Juneteenth National Independence Day Act into law today to make Juneteenth (June 19) a new federal holiday. more…
Legislation Would Change Fiduciary Duties of TSP’s Board
If passed, the TSP Fiduciary Security Act would modify the Federal Retirement Thrift Investment Board to include a duty not to harm U.S. national security more…
Revisiting the ‘Pro-Rata’ Rule with Respect to ‘Backdoor’ Roth IRA Conversions
Federal benefits expert, Ed Zurndorfer, explains why many federal employees are converting traditional retirement accounts (in particular, traditional IRAs to Roth IRAs) to take advantage of the current low federal marginal individual tax rates that are expected to increase during the next 5-10 years more…
White House Proposes 2.7% Pay Raise for 2022
The proposal would provide pay parity between the civilian and military workforce. But several federal employee groups are calling for a larger increase more…