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April 29, 2024
Federal Employee Retirement and Benefits News
If you want to pay less tax on your federal retirement income, you should read this article offering tips on saving tax and avoiding penalties.
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More than 1.5 million individuals are qualified to decide their future military retirement benefit. The new law which has
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MICHAEL WOOD – The TSP can be one of the best ways for you to save money and get the maximum out of your retirement plans because it allows you to get the highest possible returns by investing as early as possible. Last November’s TSP Modernization Act of 2017 gives more flexibility to federal employees regarding
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LINDA JENSEN – The Thrift Savings Plan, or TSP, is a retirement fund plan for the Federal employees. Individuals from uniformed services such as the Ready Reserve can also avail this plan. The Thrift savings plan was created in the year of 1986 by the Congress in the Federal Employees’ Retirement System Act. The savings
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Typically, bankruptcy is a considerable risk for retirees though recent saving trends portend a rosy picture. Data indicates that the number of retirees with less than $10,000 is declining. It fell from 55% to 42%according to a GoBankingRates survey. Besides, the survey indicated that half of retiring Americans have $10,000 in savings. Nowadays, it is estimated
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In the event of an emergency, 40% of Americans will need to sell something off or take out a loan to raise $400. A 2017 survey of 12,000 people by the Federal Reserve indicates that retirement is far from rosy for most Americans. Why is that so? It is because 40% of working adults believe they’ll
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Anybody who wants to live comfortably during retirement – that doesn’t involve working part-time – should not rely on just Social Security income. This advice comes directly from the Social Security Administration. According to the SSA, only a minute amount of pre-retirement earnings will be replaced, and most people need about 70 percent of their
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Planning for your retirement is a daunting task for most of us, even for federal employees. Various interrelated factors may complicate this process. Nowadays, conventional retirement plans either have disappeared, or existing ones (like FERS) are becoming less adequate. On top of that, Social Security seems like it won’t last forever. Increase in the lifespans
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Military personnel and federal employees can put hundreds of dollars more toward their retirement thanks to the rise in contribution Thrift Savings Plan limits. The most that can be contributed to a TSP account is $18,500, which is a rise in $500 from 2017. People 50 and older may be eligible to contribute
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The fiscal budget proposal for 2019 put out by the White House on February 10th had some unpleasant tidings for employees of the federal government. The Trump Administration’s suggestion of a pay freeze was one of the most worrisome. For those unfamiliar with the term, a pay freeze puts a stop to salary or wage
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MICHAEL WOOD —The Thrift Savings Plans is a great investment option for people with stocks and bonds. However, if they have another investment account such as an IRA, holding onto some assets besides these can expand one’s wealth and offer them more security and safety in any market condition. Commodities Can Help Diversify One’s Portfolio
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In November 2017, the Federal Retirement Thrift Investment Board option to expand its I Fund, which included the following: small-capitalization businesses, emerging markets, and Canada. You can read the full plan by checking out their November meeting minutes. In a nutshell, the board decided that in 2019 the index the I Fund follows will change.
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Recently, President Donald Trump announced that there would be drastic cuts in federal retirement benefits that would affect current and future employees attempting to retire. Among other changes, the retirement system would take a $143.5 billion cut in funding. In the U.S. Postal Service, this is slowly turning into a death knell for an already struggling
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A large number of government employees are up in arms about the Republican’s 2019 budget proposal. The GOP has termed the legislative proposal, A Framework for Unified Conservatism. After watching a House of Representatives led by Speaker Paul Ryan (R-WI), a U.S. Senate led by majority leader Mitch McConnell (R-KY), and Donald Trump’s White House
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Health expenses are increasing with no real signs of slowing down any time soon. And for seniors, the costs can be astronomical. Of course, most employees and retirees when they turn 65, will see Medicare covering most of these expenses. It’s not a gift because they paid into the Medicare fund while they worked and
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