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6:19 pm, August 30, 2014

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TSP seeks to supplant G Fund in automatic enrollments

Federal employees could soon be seeing a lot less of the G Fund in their Thrift Savings plan accounts. Instead of being automatically enrolled solely in government securities, new plan participants would be shifted to an age-appropriate Lifecycle, or L, Fund as their default investing option under a proposal approved by the Federal Retirement Thrift Investment Board Monday. The proposal ultimately requires action by Congress.

Tags: TSP , pay and benefits , Greg Long , Renee Wilder , automatic enrollment , Kim Weaver ,

Monday - 12/16/2013, 03:35pm EST

Will new budget negotiations unravel the sequestration riddle?

For the first time since the government shutdown ended two weeks ago, House and Senate lawmakers are sitting down at the table to negotiate about the fiscal 2014 budget. At the top of the agenda will be what to do about the automatic budget cuts known as sequestration that have ensnared what remained of the traditional budget process this year. However, budget experts and insiders say sequestration is likely to stick around -- at least in some form -- and about the best agencies can hope for is a small-bore deal that grants them some greater flexibility in implementing the cuts, these experts said.

Tags: Congress , House , Senate , budget , sequestration , Stan Collender , Qorvis , Don Kettl , Sharon Parrott , Center on Budget and Policy Priorities ,

Tuesday - 10/29/2013, 03:12pm EDT

Lawmakers in fed-heavy districts signal support for budget deal

Lawmakers in districts with large constituencies of federal employees are signaling their support for the bipartisan budget deal announced Tuesday even though it would require new federal workers to contribute a greater share of their paychecks to their retirement benefits. The alternatives -- another government shutdown or a second year of the steep across-the-board sequestration cuts -- would have been worse, they argue.

Tags: Congress , House , Senate , budget , Chris Van Hollen , Barbara Mikulski , Frank Wolf , Jim Moran ,

Wednesday - 12/11/2013, 05:30pm EST

Under budget deal squeeze, will future feds opt out of TSP?

If the proposed budget deal becomes law, new federal workers will see a total of 10.6 percent of their salaries automatically withheld from their paychecks to cover their retirement benefits. That could lead to them contributing less or not at all to their voluntary Thrift Savings Plan accounts, experts said.

Tags: workforce , pay and benefits , retirement , TSP , David Snell , NARFE , Greg Long , FRTIB , budget ,

Wednesday - 12/11/2013, 03:26pm EST

How the budget deal will impact current and future feds

Newly hired federal workers will be required to contribute more toward their pensions and some military retirees will see smaller cost-of-living adjustments under a budget deal announced by Rep. Paul Ryan (R-Wis.) and Sen. Patty Murray (D-Wash.) Tuesday evening. The budget deal, which sets funding levels for the next two years, eases some of the bite of the automatic spending cuts, known as sequestration. The pact restores about $63 billion to agency spending through the end of fiscal 2015, split about evenly between Defense and civilian agencies.

Tags: Congress , budget , sequestration , retirement , pay and benefits , COLA , Joseph Beaudoin ,

Wednesday - 12/11/2013, 04:08am EST

IRS nominee Koskinen pledges to turn around employee morale, pushes for budget increase

John Koskinen, President Barack Obama's pick to lead the embattled Internal Revenue Service, pledged to restore public trust in the agency following the recent uproar over revelations of purported political bias by IRS employees. Speaking before the Senate Finance Committee Tuesday morning, Koskinen also said he'd work to turn around the declining employee morale.

Tags: Senate , Senate Finance Committee , Max Baucus , Orrin Hatch , John Koskinen , IRS , IRS scandal , employee morale ,

Tuesday - 12/10/2013, 02:02pm EST

Lawmakers to budget committee: Don't throw feds under the bus

Lawmakers, who face a self-imposed Friday deadline to come up with a fiscal 2014 budget plan, appear to be making progress toward a limited deal that would stave off another shutdown and give agencies the certainty of funding for the remainder of the year.But lawmakers with districts surrounding Washington, D.C. are preemptively speaking out against any proposal that, in their words, would "throw federal employees under the bus." Rep. Frank Wolf (R-Va.), says that too often in the past federal employees' pay and benefits have "been used as pawns in budget negotiations."

Tags: Frank Wolf , Barbara Mikulski , Ben Cardin , Congress , budget , retirement , workforce , pay and benefits ,

Monday - 12/09/2013, 02:15pm EST
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Even as federal retirements continue declining, OPM processing nosedives

The number of federal employees filing for retirement is on a downward swing. For the fifth month in a row, fewer federal employees than expected filed for retirement, according to new data from the Office of Personnel Management. However, OPM's efforts at processing federal-employee retirement applications also took a nosedive last month. OPM processed just 5,700 claims in November, less than half of what it predicted it would and nearly half the number of cases the agency cleared last month.

Tags: retirement , OPM , Ken Zawodny , retirement backlog ,

Thursday - 12/05/2013, 05:32pm EST

OPM tweaks snow-closure policy, with added push for telework

With the official start of winter just two weeks away, the Office of Personnel Management is tweaking its closure and dismissal guidelines. The updated policy changes the way OPM will communicate delayed arrivals and continues to call on agencies to ensure all federal employees who are telework-ready actually do so when OPM gives the say-so during inclement weather.

Tags: OPM , snow policy , workforce , Brenda Roberts ,

Thursday - 12/05/2013, 01:23pm EST

VA benefits set to slightly increase in 2014

When veterans and their families, who receive disability compensation and retirement benefits from the Veterans Affairs Department, receive their annual cost-of-living increase next month, for the first time ever, it won't be rounded down to the nearest dollar. Overall, the COLA for veterans benefits will increase 1.5 percent. Until this year, the COLA for veterans' benefits was rounded down to the nearest dollar. That will change with payments beginning in January.

Tags: VA , Eric Shinseki , pay and benefits , benefits , disability benefits , COLA ,

Wednesday - 12/04/2013, 11:41am EST
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