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7:17 am, September 1, 2014

Pay and Benefits News

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

Furlough fever: Sell low, buy high

If you are a federal worker, did you raid your retirement fund, or sell low and buy high during the government shutdown? Senior Correspondent Mike Causey wants to know: Was it prudent or panic behavior to flee the stock market before and during the shutdown?

Wednesday - 10/30/2013, 02:00am EDT

Thousands of feds turned to TSP to weather shutdown

Hardship withdrawals shot up in the first few weeks of October and thousands more employees opted to shift their investments out of higher-risk areas and into the G Fund, TSP officials said at at the board's monthly meeting Monday. During the shutdown, some 8,200 participants requested hardship withdrawals, compared to 5,500 during the same period of time last year.

Monday - 10/28/2013, 05:17pm EDT

TSP account averages nudge 6-figure mark

When it comes to investing and saving for retirement, federal workers are at the head of the class. TSP average balances are fast-approaching the 6-figure mark.

Monday - 10/28/2013, 05:59am EDT

Open Season - Medicare Questions & Answers

David Santana, health insurance specialist for the Centers for Medicare & Medicaid Services, answers questions about Medicare.
October 28, 2013

Friday - 10/25/2013, 04:39pm EDT
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Young, immortal and uninsured!

You work for Uncle Sam. You are young, healthy and immortal. Who needs health insurance? Well, you may be in for a surprise, Senior Correspondent Mike Causey says.

Friday - 10/25/2013, 02:00am 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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Pentagon says shutdown wasted at least $600 million

A tally totaling the costs of the government shutdown on the Defense Department only includes lost work-hours from civilian furloughs, not additional government costs from interest payments, contract delays or other impacts from the shutdown. AFGE and NTEU are asking agencies to speed up back pay to federal workers.

Friday - 10/18/2013, 04:18am EDT
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Shutdowns, sex and traffic... Was it good for you?

During the shutdown, traffic in the Washington area remained awful, alcohol sales were up and lots of people jumped into online dating, Senior Correspondent Mike Causey says. So how was it where you live and work? Was it a financial nightmare or a surprise paid vacation?

Friday - 10/18/2013, 02:00am EDT

Funding bill includes back pay for furloughed feds, clears way for potential January pay raise

The bill passed by Congress reopening the federal government after a two-week shutdown grants retroactive pay for furloughed federal workers and clears the way for all federal employees to receive a 1 percent pay raise in January. The continuing resolution, which funds government operations through Jan. 15, also grants agencies some spending flexibilities to avoid sequestration-related furloughs over the next few months.

Thursday - 10/17/2013, 12:06pm EDT

Debt bill denies annual pay hike for Congress

Debt bill denies annual cost-of-living pay hike for Congress

Thursday - 10/17/2013, 01:10am EDT

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

TSP's multimillion-dollar plan calls for more customized experience

The Federal Retirement Thrift Investment Board kicked off this week a multimillion-dollar plan to revamp the Thrift Savings Plan. The $2.3 million initiative, which was approved by board members last month, calls for TSP officials to broadly survey participants on the services and offerings they desire as well as how the TSP stacks up against other plans, including those in the private sector.

Tuesday - 10/15/2013, 11:14am EDT
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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

Obama signs bill to pay military death benefits

Amid controversy, Obama signs bill to pay military death benefits during government shutdown

Friday - 10/11/2013, 06:00am EDT

GOP Lawmakers lambaste DoD over shutdown furloughs

Nearly all of the Defense Department's civilians are now working, despite the government shutdown. Many members of Congress believe none of those civilians should have been furloughed to begin with. DoD remains unsure how to address contractors under the Pay Our Military Act.

Friday - 10/11/2013, 04:07am EDT
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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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