Federal Police and Firefighters Could Receive Investment Tax Break

Federal law enforcement officers and firefighters on the cusp of retirement may be able to avoid an IRS early withdrawal penalty on their Thrift Savings Plan investments if a recently House passed bill becomes law. The Defending Public Safety Employees’ Retirement Act passed the House on May 12 by a wide margin, with only five […]

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Bill Proposed to Reduce Federal Worker Healthcare Costs

Federal workers could get some healthcare cost relief if a House bill proposed by a Massachusetts congressman becomes law. Introduced in late April, the proposed law by Democratic U.S. Rep. Stephen F. Lynch claims it can reduce prescription drug and healthcare premium costs. Simply, the bill would remove a “middleman” — namely, pharmacy benefit managers […]

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USPS Still Contending with Staggering Deficit, Despite Revenue Gains

The United States Postal Service posted impressive revenue gains in the second quarter of 2015, though the agency is still losing money and contending with a Congressional mandate that forces it to prefund retiree healthcare benefits. According to the USPS, the agency finished its second quarter of fiscal year 2015 (January 1 – March 31) […]

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Retirement 101 for Federal Workers MyFEDBenefits Style

Are you ready for retirement? That’s a question many of us think we know the answer to. But what we think we know doesn’t always align with reality — attaining the style of retirement you desire. Surely that isn’t pinching pennies and having to be worried about how much you spent on a cup of […]

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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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