Congress Approves 2.4% Pay Raise for Service Members

Members of Congress and the President are working together to finalize the federal budget and approve a pay raise for service members and federal employees. Within the budget, pay increases for military personnel, in particular, were recently discussed and a substantial increase was approved. The proposed increase can significantly change the federal budget as well […]

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Congress Proposes Buyout Increases for Federal Employees

Almost immediately after the inauguration in January, the Trump administration made its intentions to streamline operations clear. Federal agencies across all levels of government will be reviewed, and instances of unnecessary positions or overstaffed teams will be adjusted. While this “trimming of the fat,” is good news for citizens who want their government to be […]

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Changes to TSP Hardship Withdrawal Rules for Natural Disaster Victims

Following the devastating hurricanes, floods, and forest fires of 2017, the Office of Personnel Management is rapidly approving Financial Hardship In-Service Withdrawal Requests (Form TSP-76) in Thrift Savings Plans. Depending on your employment and natural disaster impact, you may qualify for a hardship payment. The goal of these loosened approval processes is to help employees […]

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TSP Bill Passes House and Senate, Eliminates Restrictions for Federal Employees

Federal Employees are about to see major changes to their Thrift Savings Plan (TSP) options next year. The TSP Modernization Act (H.R. 3031) recently passed to help federal employees better manage their Thrift Savings Plans, a 401(k) style savings plans used by more than five million participants. The TSP bill is good news for current […]

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Congress Passes 2018 Federal Retirement Budget Without Benefits Cuts

Over the past few months, MyFEDBenefits has covered proposed benefits cuts and changes to retirement options for employees. With the proposed 2018 budget, significant changes were on the table for federal employees and their potential income levels. Discussions about the types of benefits that employees should receive and the best plans for recruiting top talent […]

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How The PSLF Program Erases Student Debt for Federal Employees

There are many worker benefits that federal employees aren’t aware of. Even if you have worked for the federal government for several years, you might not realize that there are certain programs, options, and opportunities to take advantage of. Time and again, one of the most often overlooked options for students is the Public Service […]

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The GSA Announces Updated Per Diem Rates for Federal Travelers

The General Services Administration recently announced its per diem rates for federal travelers that are effective October 1, 2017. These rates set the average lodging cost that employees can charge the government for using. The major change with these guidelines affects the standard per diem rate, which was increased from $91 to $93. Unless a […]

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4 Factors That Affected the 2018 COLA (Cost of Living Adjustment)

The government annually reviews the cost of living for retired federal employees and Social Security recipients to determine whether it needs to increase payment amounts. This cost of living adjustment (COLA) takes into consideration the costs associated with basic amenities like food, housing payments, gas, communication, and medical care. If one of these aspects has […]

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6 Questions About Federal Pension Cuts Answered

One of the main goals of the White House and current Congressional leadership is to change how the federal government approaches retirement. The executive branch is looking to reduce costs for retirement and pension plans while making federal jobs seem more appealing in the job market. However, these savings plans have left several employees wondering […]

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How Proposed Changes to Paid Benefits Can Change Your Retirement Plans

Over the past few weeks, both President Trump and Congressional leaders have considered cutting paid benefits and retirement plans for federal employees. This has lead to considerable uncertainty for current employees who are planning to retire in the next few years as well as for younger employees who want to start saving for retirement but […]

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