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Search Tags: benefits
At its monthly board meeting Thursday in Washington, the Federal Retirement Thrift Investment Board (FRTIB) announced that 87.5 percent of FERS employees are actively contributing to their TSP accounts. The percentage just surpasses the previous record high of 87.4 percent in January 2003. Although participation is increasing, a lower percentage of participants are contributing full match to their TSP accounts.
While federal employees gave high marks on usefulness and importance to the Thrift Savings Plan, only a small percentage said they had flexible spending accounts because they saw little value in the program. The results are part of a survey that OPM has been doing since 2004 to gauge worker opinions on the health and wellness benefits it offers.
Last month, Tammy Flanagan, senior benefits director for the National Institute of Transition Planning, joined Federal News Radio's senior correspondent, Mike Causey, to answer feds' questions as part of an exclusive online chat. The experts fielded dozens of questions from readers -- but couldn't get to all them. So, Federal News Radio went back to the experts to answer another round of questions for readers. In this special Q&A, find the experts' take on everything from the best date to retire this year and what happens to insurance premiums when you retire to whether the Thrift Savings Plan plans to offer in-plan conversions.
When it comes to retirement benefits, not all federal workers pay the same, Senior Correspondent Mike Causey say. In fact, the giant Federal Employees Retirement System, or FERS, now has three tiers.
Office of Personnel Management Director Katherine Archuleta says she wants to keep premium increases for federal employees' health coverage "in check." In a keynote speech at the annual FEHB Program Carrier Conference in Arlington, Va., Thursday Archuleta also called on insurance carriers to make prescription drugs more affordable and urged more federal employees to sign up for wellness programs.
Married federal couples face a tough but important choice when they retire, Senior Correspondent Mike Causey says. Should they provide a survivor benefit?
If you are in perfect health and plan to stay that way, or if $1,200 a year more or less means little to you, you can skip this column. Otherwise, listen up, Senior Correspondent Mike Causey says.