Showing posts with label Retirement. Show all posts
Showing posts with label Retirement. Show all posts

Wednesday, February 21, 2024

FEGLI in Retirement: Here’s the One Thing to Avoid

FEGLI in Retirement: Here’s the One Thing to Avoid

Snippet of Article: "...The Federal Employee Group Life Insurance (FEGLI) program is the largest group life insurance plan in the work, consisting of over 4 million federal workers and retirees. It is comprised of four components: Basic coverage, and three types of optional insurance that can be added to basic, known as “A,” “B,” and “C.” ..."

Source: stwserve.com

FEGLI,Retirement,

Tuesday, October 4, 2022

Can the federal government force an employee to retire?

Can the federal government force an employee to retire?

Snippet of Article: "The federal workforce is older on average. Almost 30 percent (635,397) of employees are older than 55...The U.S. Equal Employment Opportunity Commission earlier this year issued a report on workers age 40 and over in the federal workforce with details regarding pay disparities, the proportion of older workers on staff, complaints of age discrimination..."

Source: www.federaltimes.com

Can the federal government force an employee to retire?

Sunday, March 14, 2021

Federal employees face retirement delays due to lags at National Finance Center (NFC)

Federal employees face retirement delays due to lags at National Finance Center (NFC)

Snippet of Article: "...Federal employees who have or are planning to retire soon could wait months longer than usual before receiving final annuity payments due to processing delays at one of the major payroll providers. At least three agencies have warned employees in recent months of delays at the National Finance Center..."

Source: federalnewsnetwork.com

Retirement processing delays, Financial Hardships, National Finance Center (NFC),

Monday, November 16, 2020

Assessing when you can afford to retire under the Federal Employees Retirement System

Assessing when you can afford to retire under the Federal Employees Retirement System

Snippet of Article: "... Suppose John will have 30 years of service this year, including six years of military service (for which he has paid a deposit) and 24 years under FERS. He's 59, so he's past the FERS minimum retirement age. If he retires with 30 years of service, his FERS basic retirement will provide 30 percent of his high-three average salary. He's been at the GS 13-10 level for the past three years. His current salary is $113,007. His retirement will be computed as: 30% x $108,027 (high-three average) = $3...Wait to retire at 62. Then his FERS benefit will be computed at 1.1 percent for every year of service, instead of 1 percent, a 10 percent increase..."

Source: www.govexec.com

Wednesday, September 13, 2017

Why The Tax Reform Crew May Target Your Retirement

Why The Tax Reform Crew May Target Your Retirement

Snippet of Article: "...At a minimum, legislators should do no additional harm to the retirement system in their quest for tax cuts. But it would be far better if Washington focused its political capital solving a real problem: Ensuring retirement security for all Americans..."

Source: www.forbes.com

Tax Reform vs Working Class Retirement, Retirement,

Monday, August 7, 2017

House Recesses without Deciding on Proposed Retirement Benefit Cuts

House Recesses without Deciding on Proposed Retirement Benefit Cuts

Snippet of Article: "...suggested achieving that goal by increasing required contributions toward retirement benefits and eliminating the “special retirement supplement” paid to those under FERS who retire before age 62 and until that age when they can draw Social Security benefits..."

Source: www.fedweek.com

Federal Retirement,