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Search Tags: retirement
Thrift Savings Plan figures continued to climb in the early months of 2012, as nearly all funds posted positive numbers for the month of March and for the year. Only the F Fund dipped into the negative at the end of the month.
The bill — introduced last summer by Rep. Darrell Issa (R-Calif.) — would eliminate Saturday mail delivery, close mail processing facilities, require postal employees to pay the same percentage in their health and life insurance premiums as federal employees do, and allow the Postal Service to use nearly $11 billion in surplus retirement contributions.
After rejecting a bipartisan compromise and President Obama's budget Wednesday, the House prepares to vote on a Republican plan that calls for an extension of the federal pay freeze through 2015, increased federal retirement contributions and a reduction of the federal workforce by 10 percent.
Thanks to the two-year pay freeze and two years of higher health premiums many federal workers today are taking home less money than they were in 2010, Senior Correspondent Mike Causey says. Some alert feds are also curious as to whether Congress has plans to extend their pay freeze until 2013, 2014 or maybe even until 2015.
The House has passed a stopgap three-month transportation bill to keep federal aid flowing to construction projects — delaying a vote on a larger bill that included increasing federal employees' retirement contributions.
Sen. Daniel Akaka (D-Hawaii) introduced the Senior Executive Reform Act, which would link the General Schedule with the pay system for senior executives and let senior executives include their performance bonuses in their retirement calculation.
Host Mike Causey will talk federal retirement with the NITP's Tammy Flanagan. Senior Executives Association President Carol Bonosaro will talk about a new report that looks at the mobility of members of the Senior Executives Service.
March 28, 2012
Tags: pay and benefits , Tammy Flanagan , NITP , Voluntary Contribution Program , CSRS , Senior Executives Assocation , Senior Executives Service , Carol Bonasaro , PPS , Your Turn with Mike Causey , Mike Causey
Postmaster General Patrick Donahoe testified today before a House subcommittee saying a USPS-sponsored plan would save $7 billion a year. Such a plan, Donahoe said, would offer equal or better coverage to current employees and retirees.
Thinking about retiring in the next couple of years? Well, here's something to think about, Senior Correspondent Mike Causey says: How long and how well could you live if your income was cut by more than 60 percent for months at a time?
April 1 is the deadline for federal employees and annuitants with traditional IRA accounts and are at least 70-1/2 years old in 2011 to make their first minimum required distribution (MRD) for 2011.