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Search Tags: retirement
President Obama's fiscal 2013 budget request released today ends the two-year federal pay freeze but increases contributions feds will have to make toward their retirement benefits.
The Pentagon begins the process of revealing its budget plan for fiscal year 2013. The proposal includes the scaling back of several weapons systems, savings on personnel costs, along with an assurance from top DoD officials that even though the military will be smaller, it will be more agile and more capable.
Tags: DoD , DoD budget , reversibility , efficiencies , Budget Control Act , sequestration , strategic guidance , Leon Panetta , James Winnefeld , Martin Dempsey , pay and benefit , workforce , Jared Serbu , On DoD , TRICARE , acquistion workforce , budget , Robert Hale , BRAC , IT efficiencies
Experts have long predicted a federal retirement tsunami, and the steady uptick in retirement applications across 2011 appears to bear that out. Overall, 104,810 retirement applications were filed by federal employees in calendar-year 2011, according to numbers provided by OPM — a 24 percent increase over 2010 levels.
Tammy Flanagan, the senior benefits director for the National Institute of Transition Planning, joined In Depth with Francis Rose to discuss how feds should prepare for retirement.
Federal employees would pay more toward their pensions and new employees would receive less generous retirement benefits under a House Republican plan to pay for highway programs.
Federal unions and some lawmakers have lambasted a proposed bill that would make changes to federal retirement benefits. The "Securing Annuities for Federal Employees Act of 2012" is set to go before the House Committee on Oversight and Government Reform Tuesday for a markup session, in which lawmakers will be able to introduce amendments.
A new letter, signed by Sens. Mark Warner (D-Va.), Barbara Mikulski (D-Md.) and Ben Cardin (D-Md.), calls on the Office of Management and Budget to take on the "urgent matter" of processing federal retirements. The letter comes a week after a Senate subcommittee hearing in which the Office of Personnel Management was taken to task for its handling of the longstanding backlog.
The overwhelmed retirement claims backlog at the Office of Personnel Management is only partly a technology problem. John Salamone, a managing consultant at FMP Consulting and the former executive director of the Chief Human Capital Officers Council, joined In Depth with Francis Rose to discuss the potential complications for OPM ahead.
The Office of Personnel Management has a new strategy for tackling its backlog of 62,000 retirement applications. But, after 25 years of hearing such promises, lawmakers are skeptical. The Senate Homeland Security and Government Reform Subcommittee on Oversight brought agency director John Berry to Capitol Hill to explain why this strategy is different.
Is a temporary pay freeze better than a permanent cut in your federal benefits package? Or are people ignoring the long-term effects of a "temporary" pay freeze, Senior Correspondent Mike Causey wonders.