Andy Ramirez Articles
Andy Ramirez is an experienced writer that has a lot of expertise related to retirement benefits and the whole process. He is considered an expert in the field and his stance on the happenings of the retirement world is often considered very authentic and legitimate. He has been writing for over 5 years now and such has been the level of his work that people find him as one of the best writers out there in the domain.
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How Hacked is my TSP Account? by Dianna Tafazoli
No TSP Worry for Federal employees stemming from OPM Hack.
The good news is that federal employees don’t have to worry about their Thrift Savings Plan (TSP) being hacked as a result of the OPM massive security breach. Millions of federal workers, retirees and their family members were impacted by the breach. These public sector employees may be worried for a long time as there is no guarantee that their identity has not been stolen and just what is the long term consequences of the breach.
The majority of the federal workforce today is made up of FERS employees. Part of the FERS retirement program is participation in the Thrift Savings Plan or the TSP, making up the largest component of FERS retirement. As such, all FERS employees are enrolled in the TSP unless they opt out which would not be in their best interest when retirement knocks at the door.
The TSP is not administered by the Office of Personnel Management (OPM) where the breach took place, but under a completely different authority. The TSP does not share customer account numbers with OPM and as a result federal employees participating in the Thrift Savings Plan don’t have to worry about cyber security breaches, at least not for now. The TSP reports that even prior to the news of OPM’s breach, part of its safeguarding efforts had been to protect customer accounts by employing mechanisms that not only safeguarded technology at the TSP but ways for customers to protect their own computers from phishing and other would be scams.
The TSP appears to be safe with technology so far that has not been compromised. Remember criminals always seem smarter than those charged with legal enforcement. If OPM can be hacked then we better not get too comfortable anywhere. However, it does feel good to know that the TSP is being proactive and not reactive.
P. S. Always Remember to Share What You Know.
Dianna Tafazoli
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USPS Life Insurance For Postal Employees Through FEGLI
Initially published on CompareFEGLI.com
USPS Life Insurance For Postal Employees Through FEGLI
USPS life insurance for Service employees is provided through the Federal Employees Group Life Insurance (FEGLI) Program.
The USPS will pay 100 percent of the cost of your Basic life insurance cover, and you pay 100 percent of the cost of optional insurance components.
Basic life insurance through FEGLI is equal to your salary rounded up to the next even thousand, plus two thousand dollars. Unless you explicitly waive it, new Postal Service employees automatically get signed up for Basic FEGLI life insurance cover without having to go through a physical or face any other eligibility issues.
FEGLI Options For USPS Employees & LiteBlue
FEGLI options include FEGLI Option A, Option B and Option C. FEGLI Option A – Standard provides additional coverage of $10,000. FEGLI Option B allows Postal Service employees to add coverage equaling up to five units or multiples of your annual rate of basic pay.
