Federal Worker Benefits Spared in Recent Budget Agreement

After much saber-rattling in Congress over the cost of the federal workforce, including retirement benefits, Republican lawmakers appear to be backing away from several proposals that would have adversely impacted federal workers. Republicans in the House and Senate recently agreed to a budget framework that apparently does not touch federal worker benefits or suggest that […]

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Major Changes Proposed to Federal Worker Pensions

Congress is proposing some major changes to your federal benefits, which could impact your short and long-term financial situation. A recent House Budget Committee report suggested hiking your pension contribution. If passed, this would immediately impact your bottom line, in effect, resulting in an estimate pay cut of 2 to 5 percent for federal workers. […]

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Retirement Wave Hits IRS

The IRS is confronting a brain drain. By next year, more than 25 percent of the agency’s workers will be eligible to retire, according to IRS Commissioner John Koskinen. Exacerbating that problem, the agency is having a hard time finding young talented workers who would be capable of taking over the responsibilities of experienced IRS […]

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Investing 101: Develop a Plan

As a federal employee, you are better off than a lot of workers in the private sector in terms of developing the initial stages of your retirement plan. The federal government gets the process started for you. Depending on when you were hired, you are likely automatically enrolled in the Thrift Savings Plan, the federal […]

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$159 Billion in Lost Pay and Benefits

The president of one union representing federal workers delivered a simple message to Washington regarding cuts in pay and benefits: “Enough is enough.” Colleen M. Kelley, president of the National Treasury Employees Union, is part of a concerted effort among union leadership to push back against Congress for recent laws that have had a severe […]

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Bill Aimed at Tax-Delinquent Federal Workers Fails

The House rejected a proposal that would have given the federal government the power to fire tax-delinquent federal workers. On Tax Day, the bill failed to get enough votes to meet the two-thirds requirements to pass the House, according to The Washington Post. The legislation would have given agencies the authority to fire workers who […]

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Should You Keep Your Money Locked Up in Government Investments?

The Thrift Savings Plan is one of three investment tools the federal government offers you to help smooth your own road to retirement. But is it your only option? If we turn to statistics, it’s evident that the TSP remains popular in the federal workforce. According to FierceGovernment, roughly 375,000 federal workers have set aside […]

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VA Simplifies Disability and Appeals Requests

The VA is making it easier for veterans to request disability benefits and appeal eligibility decisions. The agency has developed a standardized claim form and a standardized appeal form to guide veterans through the process. “This change will help VA provide faster and more accurate decisions to our veterans, their families and survivors,” VA Under […]

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Thinking of Retirement? Consider Your Options First.

The federal workforce is bracing for a bit of upheaval as more workers approach retirement eligibility. According to a U.S. Government Accountability Office study, nearly 31 percent of career employees (non-postal service) will be eligible for retirement in September 2017. The numbers are astounding: Nearly 600,000 workers of the 1.96 million permanent career employees, as […]

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Will I Ever Be Able to Take a Phased Retirement?

You waited a long time for the U.S. Office of Personnel Management to draw up the rules governing phased retirement. It took almost two years for OPM to devise the regulations, which allows federal employees to work part-time and collect a portion of their pension so that they still receive, in effect, full-time pay. Whether […]

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