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7:31 am, November 27, 2014

Retirement News

New bill aims to cancel sequestration for DoD at cost to feds' pay and benefits

Reps. Jim Bridenstine (R-Okla.) and Doug Lamborn (R-Colo.) introduced a bill Tuesday to cancel sequestration for the Defense Department for two years. The bill would offset this change by using a chained CPI to calculate COLAs for federal retirement programs along with other entitlement reforms.

Tuesday - 12/03/2013, 04:32pm EST

Why increasing feds' retirement contributions may not help cut the deficit

Requiring federal employees to contribute more of their salary toward retirement is rumored to be among the proposals being considered by the House-Senate budget conference committee as an partial alternative to the sequestration budget cuts. The proposal, which the Congressional Budget Office has concluded would increase federal revenues by nearly $20 billion over 10 years, has criticism from federal-employee unions. But now, at least one think tank, known for its hawkish stance on reducing the deficit, says the proposal could end up not saving the government a dime.

Monday - 12/02/2013, 06:00am EST

Will budget committee target feds' retirement contributions?

Even as mystery surrounds the work of the House-Senate budget committee negotiating over fiscal 2014 funding levels and possible alternatives to devastating across-the-board budget cuts known as sequestration, there's consensus emerging about some of the potential bargaining chips the committee is likely to use. That includes requiring federal workers to contribute more of their salaries toward their pensions.

Monday - 12/02/2013, 06:00am EST

Feds who took TSP withdrawals during shutdown locked out of contributing for next six months

During the 16-day government shutdown last month, more than 14,000 Thrift Savings Plan participants withdrew money from their accounts, the highest number of hardship withdrawals in a single month ever. This may have helped participants weather the financial uncertainty of the shutdown. But, under TSP rules, it also means they'll be unable to contribute to their 401(k)-style retirement accounts for the next six months. Now, the Federal Retirement Thrift Investment Board, which oversees the TSP, is concerned that not all those participants will take the initiative to restart their contributions when the penalty period expires next spring.

Monday - 11/25/2013, 03:26pm EST

Year-end retirees miss COLA boat

Planning to retire soon to cash in on that 1.5 percent cost-of-living adjustment? Good plan, except for one problem, Senior Correspondent Mike Causey says. The good ship USS COLA has sailed!

Monday - 11/18/2013, 02:00am EST

Senate proposal lops off FERS pensions for new hires

A new bill introduced by a trio of Republican senators would end the defined benefit portion of FERS coverage for new federal employees hired within six months of the bill's passage. Sponsors of the bill say the Public-Private Employee Retirement Parity Act would align federal retirement benefits more closely with those earned in the private sector.

Friday - 11/15/2013, 01:45pm EST

Winterizing your TSP lifeboat

Did you bail out of the stock market prior to or during the shutdown? If so, have you looked at the TSP numbers lately? If not, maybe you should, Senior Correspondent Mike Causey says.

Wednesday - 11/06/2013, 02:00am EST

Retirement backlog continues to drop as fewer feds file to retire

For the fourth month in a row, fewer federal employees than expected put in for retirement, allowing the Office of Personnel Management to continue cutting away at a longstanding backlog of claims. About 1,000 fewer employees than expected filed for retirement, according to new OPM data. The backlog fell by more than 3,500 cases.

Tuesday - 11/05/2013, 01:35pm EST

TSP investing and more

CBS MoneyWatch columnist Allan Roth will share investment strategies for the TSP, and Federal Times senior writer Sean Reilly will discuss what's ahead for federal workers and retirees.
October 30, 2013

Wednesday - 10/30/2013, 07:55pm EDT
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2014 COLA to rise 1.5 percent

The Social Security Administration announced Wednesday morning that the cost-of-living adjustment, or COLA, for 2014 will rise 1.5 percent.

Wednesday - 10/30/2013, 07:02am EDT

How to prepare for the next government shutdown

Financial planner Arthur Stein will discuss what you can do to protect your assets in the event of another government shutdown, and Sean Reilly will talk about the possibility of another shutdown, and what's ahead for feds.
October 23, 2013

Wednesday - 10/23/2013, 06:31pm EDT
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Government shutdown, chained COLA, and more

NARFE's Jessica Klement and Federal Times senior writer Sean Reilly will talk about the government shutdown and its impact.
October 16, 2013

Wednesday - 10/16/2013, 06:49pm EDT
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Retiree COLAs: Is bigger always better?

When it comes to cost-of-living adjustments for retirees, bigger is always better, right? Or is it? Either way, some changes may be coming in the way the government tracks inflation, Senior Correspondent Mike Causey says.

Wednesday - 10/16/2013, 02:00am EDT

Estimates point to slight COLA hike

Preliminary figures suggest next year's benefit increase will be roughly 1.5 percent, according to an analysis by The Associated Press. The increase will be small because consumer prices, as measured by the government, haven't gone up much in the past year.

Monday - 10/14/2013, 12:35pm EDT

Shutdown delays COLA announcement

Millions of federal retirees will have to wait to find out the size of next year's cost-of-living adjustment. The Labor Department says it won't report inflation statistics on time this month, which will delay the Social Security Administration's COLA calculation.

Friday - 10/11/2013, 01:11pm EDT

Financial planning tips for furloughed feds

Tammy Flanagan, Karen Schaeffer, and Bob Leins discuss what furloughed federal workers should be doing to protect their financial assets.
October 14, 2013

Thursday - 10/10/2013, 07:09pm EDT
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Fed groups get in front of COLA calculation debate

The National Active and Retired Federal Employees Association, the Military Officers Association of America, the American Foreign Service Association and others rally against any potential or real proposals to change how the government calculates cost of living adjustments. The groups propose using the CPI-E formula to measure the impact of inflation on retirees, veterans and others.

Thursday - 10/10/2013, 05:57am EDT
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Protecting your TSP account during the shutdown

Certified financial planner Arthur Stein will provide tips on how to protect your retirement nest egg, and Federal Times Senior Writer Sean Reilly will give us the latest on the government shutdown.
October 9, 2013

Wednesday - 10/09/2013, 08:06pm EDT
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Learn more about your TSP

Greg Long, executive director of the Federal Retirement Thrift Investment Board, and Kim Weaver, the TSP's director of External Affairs will answer your calls and emails about the TSP.
October 7, 2013

Monday - 10/07/2013, 07:43pm EDT
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With fewer feds retiring, OPM back on track in retirement processing

About 5,800 federal employees filed retirement applications in September, according to new data provided from the Office of Personnel Management. That's some 2,600 fewer than OPM expected to receive and more than 6,000 fewer than submitted applications in September 2012. That unexpected drop allowed OPM to process more applications than it anticipated and to make significant progress clearing a longstanding backlog of cases.

Friday - 10/04/2013, 03:52pm EDT
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