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Search Tags: pay and benefits
Gerontology professor and NITP presenter Dr. Michael Creedon answers your retirement questions.
February 18, 2013
What does the curse of the Mayan calendar, the threat of sequestration and the always jittery stock market have to do with your TSP account balance? Maybe nothing, maybe a lot. Dust off your crystal ball and buckle up, Senior Correspondent Mike Causey says.
In wonkier parts of the Washington area, the talk of the town is about fiscal cliffs and sequestration followed by sex and the Redskins, not necessarily in that order. But beyond the Beltway, folks seem to have a firmer grip on what's important, Senior Correspondent Mike Causey says.
Many in government are worried about the threat of sequestration, the across-the-board budget cuts set to take effect in January unless Congress and the White come up with an alternative deficit-cutting plan. But federal employee groups and sympathetic lawmakers are also concerned about such alternatives -- if they contain changes to federal employee pay or compensation. Rep. Chris Van Hollen (D-Md.) and a slate of federal-employee unions and groups are warning of such proposals in the deficit talks to replace sequestration.
Feds have more than the usual year end issues on their plate at 2012 draws to a close, according to Senior Correspondent Mike Causey. There is the fast-approaching fiscal cliff, the dangers of sequestration, maybe a bonus pre-Christmas holiday and, of course, the end of the world. Check it out, if you dare.
If you could pick any historical event to relive, it probably wouldn't be the maiden voyage of the Titanic — that didn't go well. And now, 100 years later, federal, military and Social Security retirees are just becoming aware of a political iceberg that could punch a hole in their future benefits, Senior Correspondent Mike Causey says.
If Congress and the White House cut a last-minute deal to avoid sequestration and the fiscal cliff, some of the compromise may come out of your hide, whether you are active or retired, Senior Correspondent Mike Causey says.
In the latest proposals traded back and forth between the White House and Boehner, the President proposed changing the formula the Labor Department uses to measure inflation — which would reduce annual COLAs for Social Security beneficiaries, including federal and military retirees. Federal-employee unions and groups remain worried the COLA proposals are still very much on the table.
In the fiscal-cliff talks, it now appears that both sides have blinked. Republicans appear willing to accept some higher taxes and Democrats seem to have agreed that Social Security's growing costs must be curtailed. Slightly and slowly. So how will the proposals affect you? Check out Senior Correspondent Mike Causey's column.
Having set up the sequestration system that will trigger draconian automatic spending cuts, both political parties now say it shouldn't happen, that furloughs would have a catastrophic impact on the economy, national defense, maybe even the weather So, Senior Correspondent Mike Causey wants t know: What does it look like from where you stand -- and work.