Financial Literacy Month: Making the Most of Your TSP as a Federal Worker
April 10, 2023
During Financial Literacy Month, it is essential to remind Federal Employees Retirement System (FERS) covered workers of their retirement benefits and investment options. Retirement income for these workers typically comes from three sources: the FERS basic retirement benefit, Social Security, and the Thrift Savings Plan (TSP). The TSP is a defined contribution plan that offers […]
Temporary Work May Replace Some Fulltime Federal Hiring in STEM Related Occupations
January 3, 2023
A recently implemented policy allows federal agencies to hire temporary employees in certain positions, specifically those related to science, technology, engineering, and mathematics (STEM), for a maximum duration of 10 years. This represents a significant increase from the previous limit of four years. The Office of Personnel Management (OPM) is the government agency responsible for […]
Terminating Federal Workers With Disabilities
December 22, 2022
The Americans with Disabilities Act (ADA) is a civil rights law that aims to guarantee equal opportunities and to prohibit discrimination against people with disabilities in areas such as public transportation, employment, and state and local government services for individuals with disabilities. However, there is often a stigma associated with certain types of disabilities, such […]
The Social Security Fairness Act Gives Back Funds to Federal Employees
October 18, 2022
It’s no secret that Social Security is heading toward disaster by 2035 unless congress allocates significant tax dollars toward funding it. Current legislation is being written to address this impending Social Security breakdown. One of those bills gaining momentum is the Social Security Fairness Act, which would be a much-deserved win for federal employees. The […]
Federal Employees Will Receive a Significant Pay Increase in 2023
August 17, 2022
Federal employees can expect a pay increase in 2023 that is double the amount of any annual increase in over 10 years. The Senate passed an appropriations bill which silently endorses the President’s recommendation for federal employees to receive a 4.6% pay increase next year. And while specific allocations of the raise have not been […]
2022 Pay Increase Announced for Federal Workers & Military Personnel
December 27, 2021
President Biden has issued an executive order to implement his plan (originally announced in August) to provide federal workers with an average 2.7% increase in pay for 2022 The pay raise provides federal employees with a 2.2% raise across-the-board with an additional 0.5% for locality adjustments, to total up to 2.7%. The increase would take […]
Get Ready: The 2018 FEHB Open Season Starts Next Month
October 16, 2018
Now is the time to review your federal health insurance coverage, enroll in insurance plans, and make sure all of your benefits are in order. The Office of Personnel Management (OPM) has set the dates for the 2018 Federal Benefits Open Season (FEHB Open Season), which allows employees to enroll in 2019 benefits programs. Enrollment […]
Use An Annuity Calculator to See How the High-5 Plan Affects You
October 2, 2018
The MyFEDBenefits team has kept a close eye on the government’s proposed retirement policies over the past 2 years. Though the changes aren’t done yet, it looks like retirement benefits may be a sticking point in the 2019 proposed budget. It’s time that we can start to use an annuity calculator to see how some of […]
What FERS Employees Need to Know About Crediting Unused Sick Leave
August 14, 2018
Every employee treats their sick leave differently. Some employees battle through colds and stomach issues, determined not to miss a day. Other employees use every sick day possible, wanting to take advantage of the time off — even if they just have a light sniffle. FERS employees may want to consider additional information before deciding […]
OPM Data Breach May Put Federal Employees At Risk
July 31, 2018
Millions of federal employees rely on the Office of Personnel Management for their salaries, benefits, and retirement options. If this office isn’t reliable, then federal workers are at risk of delaying their retirement and having their data exposed to criminal hackers. Unfortunately, an OPM data breach is more of a potential threat than initially thought. […]
