OPM Retirement Backlog Exceeds 20,000 Applications in January

The Office of Personnel Management continues to struggle with its extensive retirement backlog, with more than 20,000 applications waiting to be processed for employees across the United States. According to FedSmith, the OPM received 14,590 new retirement applications in January, but it was only able to process 8,638. This deficit of 5,952 was added to […]

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Do You Need to Pay Taxes on Your TSP Withdrawal This Tax Season?

Spring signifies more than a fresh new year and a break from the cold months of winter, it also means tax season. Most employers and government agencies were required to send forms to employees and citizens by January 31, meaning you likely received forms to help you file. The deadline to file your taxes this […]

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What The Government Shutdown Means for Employee Pay and Retiree Benefits

While many employees returned to work following the end of the government shutdown in late January, questions remained. People wondered if they would get paid, and for what time they would be paid for. Retired workers worried about their benefits and government payments. Everyone wondered if this whole process would be repeated in February, as […]

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With VA Facing Fallout, Congress Works to Find Solutions

American politicians agree on very few things, but one factor that tends to bring people across the aisle is providing care for our veterans. With the VA facing fallout, this issue is becoming even more urgent. Over the past few years, both Congress and the American people have started to see the exact state of […]

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OPM Approves Voluntary Early Retirement Offer for USPS Employees

In early January, the Office of Personnel Management sent a voluntary early retirement offer to the United States Postal Service. The USPS will be able to help older employees retire earlier with better financial benefits than they previously would have received with the early retirement buyout package. The goal of this Voluntary Early Retirement Authority […]

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What Tax Cuts Mean for Federal Employees in 2018

In late 2017, Congress passed a sweeping reform bill that gives tax cuts to many but leaves others uncertain. While both congressional representatives and the President have said this bill will benefit the majority of Americans, there may be changes ahead for federal employees, both in their income and employment. While it’s still unclear how […]

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2% COLA (Cost of Living Adjustment) Increase Starts This Month

After months of debate and concerns about the federal budget, retired employees are set to see a  2% cost of living adjustment (COLA) to their benefits payments starting in January. This raise applies to CSRS retirees and FERS retirees who are eligible for a COLA. Social security recipients, military beneficiaries, and people who receive survivor […]

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What The 2018 IRA Contribution Cap Means for Federal Employees

Employees who enter the public sector often turn to an IRA for their retirement planning. They’re used to the concept of an individual retirement account and might have one already set up by an employer or on their own if they are self-employed. However, contribution caps to IRAs can affect how much employees save each […]

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Treasury Suspends Investment Into TSP Federal Employee Retirement Funds to Avoid Hitting Debt Ceiling

Federal employees checking their pensions this month might notice a change in the government’s contribution. In early December, The Treasury Department, led by Treasury Secretary Steven Mnuchin announced that the government would no longer pay into Federal employee retirement funds and thrift savings plans (TSP) in order to avoid hitting the debt ceiling. The contribution […]

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OPM Retirement Claims Backlog Continues to Grow

The Office of Personnel Management (OPM) has struggled to fill the retirement backlog most of the year, but it continues to rise as the office is overwhelmed with new submissions. The retirement claims backlog has the potential to delay the retirement of federal employees, preventing organizations from balancing their budgets and reaching their staffing goals. […]

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