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Search Tags: Retirement
What do so many Washington-based politicians have in common a firefighter with an arson problem? Both spend a lot of time solving problems they created, Senior Correspondent Mike Causey says.
Reps. Jim Bridenstine (R-Okla.) and Doug Lamborn (R-Colo.) introduced a bill Tuesday to cancel sequestration for the Defense Department for two years. The bill would offset this change by using a chained CPI to calculate COLAs for federal retirement programs along with other entitlement reforms.
Requiring federal employees to contribute more of their salary toward retirement is rumored to be among the proposals being considered by the House-Senate budget conference committee as an partial alternative to the sequestration budget cuts. The proposal, which the Congressional Budget Office has concluded would increase federal revenues by nearly $20 billion over 10 years, has criticism from federal-employee unions. But now, at least one think tank, known for its hawkish stance on reducing the deficit, says the proposal could end up not saving the government a dime.
Even as mystery surrounds the work of the House-Senate budget committee negotiating over fiscal 2014 funding levels and possible alternatives to devastating across-the-board budget cuts known as sequestration, there's consensus emerging about some of the potential bargaining chips the committee is likely to use. That includes requiring federal workers to contribute more of their salaries toward their pensions.
A new bill would allow federal employees to contribute toward their retirement by investing only in companies deemed socially responsible. The "Federal Employees Responsible Investment Act," introduced this week by Rep. Jim Langevin (D-R.I.) and Sen. Sheldon Whitehouse (D-R.I.), would require the Federal Retirement Thrift Investment Board to add a "Corporate Responsibility Index" to the existing five investment options available to federal employees.
Planning to retire soon to cash in on that 1.5 percent cost-of-living adjustment? Good plan, except for one problem, Senior Correspondent Mike Causey says. The good ship USS COLA has sailed!
A new bill introduced by a trio of Republican senators would end the defined benefit portion of FERS coverage for new federal employees hired within six months of the bill's passage. Sponsors of the bill say the Public-Private Employee Retirement Parity Act would align federal retirement benefits more closely with those earned in the private sector.
Did you bail out of the stock market prior to or during the shutdown? If so, have you looked at the TSP numbers lately? If not, maybe you should, Senior Correspondent Mike Causey says.
For the fourth month in a row, fewer federal employees than expected put in for retirement, allowing the Office of Personnel Management to continue cutting away at a longstanding backlog of claims. About 1,000 fewer employees than expected filed for retirement, according to new OPM data. The backlog fell by more than 3,500 cases.
The Social Security Administration announced Wednesday morning that the cost-of-living adjustment, or COLA, for 2014 will rise 1.5 percent.