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Search Tags: retirement
Did you bail out of the stock market prior to or during the shutdown? If so, have you looked at the TSP numbers lately? If not, maybe you should, Senior Correspondent Mike Causey says.
For the fourth month in a row, fewer federal employees than expected put in for retirement, allowing the Office of Personnel Management to continue cutting away at a longstanding backlog of claims. About 1,000 fewer employees than expected filed for retirement, according to new OPM data. The backlog fell by more than 3,500 cases.
The Social Security Administration announced Wednesday morning that the cost-of-living adjustment, or COLA, for 2014 will rise 1.5 percent.
When it comes to investing and saving for retirement, federal workers are at the head of the class. TSP average balances are fast-approaching the 6-figure mark.
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.
Tammy Flanagan, Karen Schaeffer, and Bob Leins discuss what furloughed federal workers should be doing to protect their financial assets.
October 14, 2013
Millions of federal retirees will have to wait to find out the size of next year's cost-of-living adjustment. The Labor Department says it won't report inflation statistics on time this month, which will delay the Social Security Administration's COLA calculation.
Certified financial planner Arthur Stein will provide tips on how to protect your retirement nest egg, and Federal Times Senior Writer Sean Reilly will give us the latest on the government shutdown.
October 9, 2013
About 5,800 federal employees filed retirement applications in September, according to new data provided from the Office of Personnel Management. That's some 2,600 fewer than OPM expected to receive and more than 6,000 fewer than submitted applications in September 2012. That unexpected drop allowed OPM to process more applications than it anticipated and to make significant progress clearing a longstanding backlog of cases.
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.