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- Navigating Tough Choices in Government Cloud Computing
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Search Tags: FERS
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.
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.
For federal workers traveling through the congressional tunnel: Is that light they see sunshine or an oncoming train wreck? Either way their journey isn't over by a long shot, Senior Correspondent Mike Causey says.
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.
Steve Bell, senior director of the Bipartisan Policy Center's Economic Policy Project, says while the President's proposed budget includes some interesting details for feds, none of them are likely to become law.
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 , CSRS , House
Lawmakers should keep their hands off federal employees' retirement plans, National Active and Retired Federal Employees Association Director of Retirement Benefit Services David Snell said at a hearing of the House Oversight and Government Reform Subcommittee on Federal Workforce, U.S. Postal Service and Labor Policy. The subcommittee is considering a slew of bills aimed at reducing federal pensions for both lawmakers and rank-and-file workers.
Tags: NARFE , David Snell , payroll tax cut , Congress , House , House Oversight and Government Reform Commitee , CSRS , Social Security , OPM , Emily Kopp , Stephen Lynch , Dennis Ross , Robert Dold , Tim Griffin , Mike Coffman
Many times in life we are faced with options — sometimes a variety — and none of them are good. That's definitely true for current and retired federal government workers, Senior Correspondent Mike Causey says.
There is a new "Jaws 4" movie taking shape and federal and postal workers may play prominent roles as the primary bait. Check it out, if you dare, Senior Correspondent Mike Causey says.