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8:04 am, May 23, 2015

Retirement News

Retirement savings: Auto-enrollment in the TSP's lifecycle funds begins next fall

Now that Congress has passed the Smart Savings Act, the Federal Retirement Thrift Investment Board is programming a new savings default option for those who join the federal government late next year.

Monday - 12/15/2014, 01:15pm EST
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Larry Korb, Senior Fellow, Center for American Progress

Congress is capping the pensions of top military officials in 2015. As part of National Defense Authorization Act, pensions for generals and admirals will be trimmed to ensure they make no more in retirement than they did on active duty. That reverses a 2007 law designed to help retain officers during wartime. What effects, if any, will this have on the military's ability to retain its senior officers? Larry Korb is a senior fellow at the Center for American Progress and former assistant secretary of Defense for manpower and reserve affairs. He joined Tom Temin on the Federal Drive with a look at this measure.

Monday - 12/15/2014, 09:55am EST
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Congress passes bill to auto-enroll new feds in TSP's Lifecycle Funds

Congress has passed a bill that will automatically enroll new federal employees in the Thrift Savings Plan's Lifecycle Funds (L Funds), rather than the Government Securities Investment Fund (G Fund).

Friday - 12/12/2014, 02:02pm EST

OPM plots steps to modernize retirement system IT in 2015

Office of Personnel Management officials told the House Oversight and Government Reform Subcommittee on the Federal Workforce, the U.S. Postal Service, and the Census about its plan to buy a case management system. The case management system will serve as the foundation for yet another attempt at modernizing the retirement system.

Thursday - 12/11/2014, 04:27am EST
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How safe is your pension? Can you say Detroit!

The primary federal pensions plans -- CSRS and FERS --are the gold-standard compared to virtually any private-sector pension plan. But how safe are they? asks Senior Correspondent Mike Causey.

Thursday - 12/11/2014, 02:00am EST

Retirement claims take a dip in November, OPM says

After receiving 4,000 more retirement claims in October than it expected to, the Office of Personnel Management received 2,000 fewer than it expect to in the month of November.

Friday - 12/05/2014, 03:06pm EST

All TSP funds grow for November

Every Thrift Savings Plan domestic fund showed growth in November, including the troubled I Fund, which had been in the negative for months.

Monday - 12/01/2014, 10:34am EST

CBO deficit report advises smaller fed workforce

In a new report on reducing the federal deficit, the Congressional Budget Office suggests that cutting 70,000 government jobs over the next decade and changing the math used for civilian and military pensions could save $100 billion.

Wednesday - 11/26/2014, 11:24am EST

What are your odds of surviving 2015?

Few of us are going to live into our 100s, but choosing the right health care plan for you may make getting older more comfortable and put money in your wallet too, says Senior Correspondent Mike Causey.

Friday - 11/21/2014, 02:00am EST

Beth Asch, Senior Economist, The RAND Corporation

Retirement benefits in the military have one thing in common with Social Security and Medicare: they're budget time bombs yet no one in Congress has the nerve to touch them. Still, numerous proposals for reforming military compensation have been put forth. One of the most comprehensive comes from the RAND Corporation. Beth Asch is a senior economist at RAND, and she joined Tom Temin on the Federal Drive with more on how to make military pay less costly and more equitable.

Wednesday - 11/19/2014, 09:27am EST
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Save $1,000 next year in FEHBP premiums

Health insurance premiums for white-collar federal workers or government retirees will run anywhere from $1,200 to nearly $6,000 next year. Wouldn't it be nice to save $1,000? asks Senior Correspondent Mike Causey.

Wednesday - 11/19/2014, 02:00am EST

Kim Weaver, Federal Retirement Thrift Investment Board

Some new choices may be coming to your Thrift Savings Plan account, but you won't see those choices for a while. First, the TSP board wants to know the best way to offer those choices. Kim Weaver is director of external affairs at the Federal Retirement Thrift Investment Board. On In Depth with Francis Rose, she explained what may become part of your TSP account.

Tuesday - 11/18/2014, 04:15pm EST
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Can new investment options keep people in the TSP?

In a bid to keep more people participating in the Thrift Savings Plan even after they leave the government, members of the plan's oversight board have approved a million-dollar-plus study of new investment options, including mutual funds that focus on real estate, emerging markets and socially responsible companies.

Monday - 11/17/2014, 02:55pm EST

Washington winter weenies' revenge

We "winter weenies" in the D.C. area got some revenge last week as those winter warriors in the Midwest succumbed to an early cold blast. But our time is coming!

Monday - 11/17/2014, 02:00am EST

Tammy Flanagan, National Institute of Transition Planning

Open season 2014 is underway. Feds who turn 65 next year are facing a decision whether or not to enroll in Medicare Part B. If they enroll, they'll be paying an additional $1,200 on top of what they already pay for Federal Employees Health Benefits Program coverage. Tammy Flanagan, senior benefits director for the National Institute of Transition Planning, tells In Depth with Francis Rose about the pros and cons of enrolling in Part B.

Friday - 11/14/2014, 04:24pm EST
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Postal Service remains financially 'at-risk,' says GAO report

The USPS' ability to carry our its duties and remain financially self-sustaining continues to be at risk, according to a recently released GAO performance audit. Conducted over the past year, GAO's report found that the agency is projecting "unsustainable" losses through 2020.

Friday - 11/14/2014, 03:39pm EST

Caped Crusader confesses all

Holy Open Season! Senior Correspondent Mike Causey takes a look in the mirror and finds a run in his superhero tights.

Friday - 11/14/2014, 02:00am EST

Art Stein, Certified Financial Planner

Cold temperatures have arrived and with them, the season to think about holiday plans. But you should also start thinking about your investment strategies for 2015 and beyond. Art Stein is a certified financial planner and investment manager. He has long experience with federal employees and their particular concerns. Stein joined Tom Temin on the Federal Drive with some advice for dealing with the Thrift Savings Plan and other matters.

Thursday - 11/13/2014, 07:03pm EST
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Good news/bad news about your health plan

It's your usual good news/bad news situation when it comes to open season for feds choosing which health plans make the most sense and save the most money for them, says Senior Correspondent Mike Causey.

Thursday - 11/13/2014, 02:00am EST

The joys and sorrows of shopping naked

Open season is upon us. That's the annual period when federal employees get the chance to change their health plans. Senior Correspondent Mike Causey says the vast majority of them -- 96 percent -- don't take advantage of this opportunity and may be losing out on considerable savings.

Wednesday - 11/12/2014, 02:00am EST
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