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8:05 am, May 23, 2015

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Feds who took TSP withdrawals during shutdown locked out of contributing for next six months

During the 16-day government shutdown last month, more than 14,000 Thrift Savings Plan participants withdrew money from their accounts, the highest number of hardship withdrawals in a single month ever. This may have helped participants weather the financial uncertainty of the shutdown. But, under TSP rules, it also means they'll be unable to contribute to their 401(k)-style retirement accounts for the next six months. Now, the Federal Retirement Thrift Investment Board, which oversees the TSP, is concerned that not all those participants will take the initiative to restart their contributions when the penalty period expires next spring.

Tags: pay and benefits , TSP , workforce , government shutdown , Michael Kennedy , Greg Long , Renee Wilder , Kim Weaver , hardship withdrawals , Jack Moore

Monday - 11/25/2013, 03:26pm EST

About those gaps ... in your teeth

Do you have a colleague who is always so upbeat, so happy that it gets on your nerves? If so, there is a sure-fire way to make him or her lose that grin, Senior Correspondent Mike Causey says.

Tags: Mike Causey , Federal Report , pay and benefits , open season , Walt Francis

Thursday - 11/07/2013, 02:00am EST

Issa bill would open FEHBP to all Americans, but at what cost?

Rep. Darrell Issa (R-Calif.) introduced a bill that would open up the federal health program to all Americans, but one federal employee union has come out to oppose it and benefits experts question how much it would cost.

Tags: Darrell Issa , FEHBP , Walt Francis , Colleen Kelley , NTEU

Thursday - 10/24/2013, 03:51pm EDT
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Young, immortal and uninsured!

You work for Uncle Sam. You are young, healthy and immortal. Who needs health insurance? Well, you may be in for a surprise, Senior Correspondent Mike Causey says.

Tags: Mike Causey , pay and benefits , Federal Report , workforce , FEHBP , ACA

Friday - 10/25/2013, 02:00am EDT

Retiree COLAs: Is bigger always better?

When it comes to cost-of-living adjustments for retirees, bigger is always better, right? Or is it? Either way, some changes may be coming in the way the government tracks inflation, Senior Correspondent Mike Causey says.

Tags: Mike Causey , Federal Report , pay and benefits , COLA

Wednesday - 10/16/2013, 02:00am EDT

TSP's multimillion-dollar plan calls for more customized experience

The Federal Retirement Thrift Investment Board kicked off this week a multimillion-dollar plan to revamp the Thrift Savings Plan. The $2.3 million initiative, which was approved by board members last month, calls for TSP officials to broadly survey participants on the services and offerings they desire as well as how the TSP stacks up against other plans, including those in the private sector.

Tags: pay and benefits , FRTIB , TSP , Renee Wilder , Federal Drive , Tom Temin , Emily Kopp , Jack Moore

Tuesday - 10/15/2013, 11:14am EDT
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Estimates point to slight COLA hike

Preliminary figures suggest next year's benefit increase will be roughly 1.5 percent, according to an analysis by The Associated Press. The increase will be small because consumer prices, as measured by the government, haven't gone up much in the past year.

Tags: pay and benefits , retirement , COLA , DOL , SSA , government shutdown

Monday - 10/14/2013, 12:35pm EDT

How will the shutdown affect feds' benefits? 4 things to consider

Many feds are also confused and concerned about how the shutdown -- especially if it's prolonged -- will affect their benefits. Federal News Radio dug through guidance provided by the Office of Personnel Management and other agencies and consulted with the experts to bring you some of the answers to the most-asked questions.

Tags: government shutdown , retirement , pay and benefits , FEHBP

Thursday - 10/03/2013, 04:03pm EDT
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