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Search Tags: CSRS
The new Federal Employees Retirement System is suddenly not so new. It turned 25 this year. And next to Social Security, it is the dominant federal retirement program. So how did FERS happen, and why? Check out Senior Correspondent Mike Causey's column.
Although the number of retirement-eligible feds may be at an all-time high, government workers are holding on to their jobs. The retirement tidal wave — first forecast in 1999 — has yet to hit, Senior Correspondent Mike Causey says. So what's keeping you?
A new inspector general audit revealed that the Postal Service has overfunded its pension benefit obligations by nearly 105 percent. While this might seem to be good news for the cash- strapped agency, legislative action will be required for USPS to get back the $13.1 billion surplus it paid into its employees' pensions.
Worried about another pay freeze next year? Thinking about retiring to get a cost of living adjustment? Timing is everything, and for some people its already too late, Senior Correspondent Mike Causey says.
If you have a stash of cash and you want to park it in one of the safest, most generous places around, where do you go? Tip: It isn't the Thrift Savings Plan, Senior Correspondent Mike Causey says.
Thanks to the two-year pay freeze and two years of higher health premiums many federal workers today are taking home less money than they were in 2010, Senior Correspondent Mike Causey says. Some alert feds are also curious as to whether Congress has plans to extend their pay freeze until 2013, 2014 or maybe even until 2015.
Host Mike Causey will talk federal retirement with the NITP's Tammy Flanagan. Senior Executives Association President Carol Bonosaro will talk about a new report that looks at the mobility of members of the Senior Executives Service.
March 28, 2012
Tags: pay and benefits , retirement , Tammy Flanagan , NITP , Voluntary Contribution Program , Senior Executives Assocation , Senior Executives Service , Carol Bonasaro , PPS , Your Turn with Mike Causey , Mike Causey
Tammy Flanagan, senior benefits director at the National Institute of Transition Planning joins host Mike Causey to talk about what you should do to plan for your retirement.
March 21, 2012
The current language of H.R. 3813 increases the CSRS and FERS employees' contribution to their retirements by 1.5 percent over three years. For individuals not subject to mandatory retirement who choose to retire on or after Jan. 1, 2013, the FERS minimum supplement is eliminated. Currently, the FERS minimum supplement is paid to those qualifying employees who retire prior to age 62.
In the latest attempt to cut federal retirement benefits, the House Oversight and Government Reform Committee has reported out legislation that would make feds contribute more of their salaries to their pensions and end the FERS annuity supplement for people who retire before age 62.
Tags: Emily Kopp , John Sepulveda , Veterans Affairs , Darrell Issa , Gerry Connolly , Dennis Ross , pay and benefits , NTEU , House Oversight and Government Reform Committee , workforce , FERS , House