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Search Tags: retirement
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.
Thanks to a slight dip in July living costs, the tentative inflation-catch up for millions of retired Americans now stands at 1.8 percent. But, feds have two more months to endure before they know what their cost of living adjustment will be next January, says Senior Correspondent Mike Causey.
So, you're reaping the benefits of your Thrift Savings Plan? Senior Correspondent Mike Causey says you still may be missing out on a host of other federal benefits that are available to you.
Are you a $1 million baby? Senior Correspondent Mike Causey says you can be if, like some other feds, you make the most out of your Thrift Savings Plan.
Unless you're financially well-off, you need to get to know your Thrift Savings Plan. It may be responsible for one-third to one-half of the income you receive in your retirement, says Senior Correspondent Mike Causey.
Is the perfect job -- one with less work, a shorter commute and less time in the office -- within reach? Senior Correspondent Mike Causey says phased retirement may hold the key to a perfect job for some feds.
Some of life's toughest, most important choices include marriage, children, divorce and retirement. Not necessarily in that order. Which is why Nov. 6 is the new D-Day for federal workers.
The final rule is out on phased retirement for federal employees. The Office of Personnel Management says people can start submitting their applications for phased retirement on Nov. 6. But not everyone can qualify. Tammy Flanagan is senior benefits director of the National Institute of Transition Planning. She explained the details of the final rule on In Depth with guest host Jared Serbu.
The Office of Personnel Management's final rule on phased retirement is out, and so is additional guidance for agencies. But questions still abound. Federal News Radio answers your most pressing questions on phased retirement, from eligibility to pay, and what took OPM so long.
The rule comes more than two years after President Barack Obama signed the provision into law on July 6, 2012. Under the final rule, eligible employees can work part time while drawing on part of their earned retirement benefits. Phased retirees must also spend at least 20 percent of their time mentoring other employees.