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May 15, 2024
Federal Employee Retirement and Benefits News
The Thrift Board revealed that new managers for its F and I Funds would be chosen. In November 2017, the Board sent out a “Request for Proposals” for a new F Fund manager, and it hopes a decision on that Fund would be announced soon. The Board has yet to issue an RFP
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The primary federal retirement program provides various ways in which to set up survivor benefits. The Thrift Saving Plan (TSP) offers a plethora of opportunities in setting up the annuity benefit. TSP withdrawals can be made by multiple of ways and annuity is just one of the options available, either through a lump sum, a
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Data compiled by Bloomberg reveals that according to the Standard & Poor’s 500 index, there has been a massive drop in stock prices. The US stock markets valuation has experienced a 10% drop in the last couple of days. This translates to a loss of $2.6 trillion for the economy. This has been the worst
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President Trump was true to his word when he told the nation he intended to enter into a trade war with China. Whether or not he was telling the truth when he said it would be “easy to win,” has yet to be seen. No matter what the outcome might be, at this stage our
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Financial markets recently took a massive swing into volatility, with the Dow Jones average fluctuating by hundreds of points in a single day- last Tuesday, the blue-chip benchmark plummeted 1.7%, making it the longest streak of losing sessions since March 2017. Many of those who rely on the market for their retirement funds, especially those
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The Blended Retirement System just changed how retirement works for military personnel around the world, introducing military TSP plans to the previous pension program. As of the publishing date of this article, there are over 1.7 million people serving in the military. Military service refers to all those in the US Navy, the US Army,
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Retirement Income Tax: Quick Tips As Tax Day is rushing up, it can be challenging to understand how to deal with retirement income tax. If you aren’t working, it may seem that you would be in the clear. However, between paying taxes on your TSP, cashing out your other investments, and any possible small jobs
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In a dog-eat-dog world, sometimes we forget what will happen to our furred friends. Over 68% of US households, in fact, own pets, and a surprising amount of those households are making financial plans regarding their pets. After all, in the same way, you want your family or beneficiaries to have a good life when
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Financial Health and You When is the last time you went to the doctor for a checkup? You probably went at least once last year, and maybe you’ve gone sometime this year, as well. It’s important to have regular checkups; whether it’s your body, your car, or your family. Unfortunately, there is another vital check-up
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Did you save the maximum of $18,000 in your TSP last year? If you did, you might be interested to hear that the maximum for 2018 added $500 more to the ceiling, an excellent option for those who want to lower their taxable income. This option will create a tax-sheltered account that will grow and compound
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The current state of affairs in Federal employment may be changing soon. President Trump has proposed that changing the system of salaries to a capped total and awarding bonuses based on merit. Many see this as a reasonable proposal, but there is one flaw: While the public can see the salaries most Federal employees are
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The so-called “retirement tsunami” has been a federal workforce expert’s clarion, dooming call- the idea that as Baby Boomers age out of the workforce and retire, there will be a massive exodus of employees, replaced by an inexperienced workforce with big shoes to fill. Such an event would leave most federal agencies without the much-needed
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What are you doing to save for retirement? It’s probably not enough. There are a variety of reasons you probably aren’t saving enough, but are they good enough to excuse causing yourself more hassle and pain down the road? According to a 2018 retirement savings survey, about 42% of Americans will retire without sufficient savings-
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Do you telecommute or telework? It may make your job satisfaction skyrocket. In a new federal employee study by the Office of Personnel Management, participation in teleworking or other agency-run wellness programs perform heavily more favorably on performance reviews than those who do not. More than 72% of employees talking about the program said that
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Federal benefits can be affected in a significant way by major events in life such as the birth of a child or marriage. In fact, instances of divorce can lead to a lot of complications when it comes to claiming federal benefits. The following are some useful tips for divorced or separated federal employees.
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Life insurance companies have a new, unconventional sales strategy: selling life insurance policies on children. The fact that most life insurance companies are asking parents to purchase life insurance for their children can seem to be incongruous, almost like buying your three-year-old a car with the idea that it will be cheaper when they are
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Saving for retirement is an uphill task for most people, but knowingly or unknowingly, you can make this already challenging task a costly mistake. This article will highlight some of the common errors that can cost you your retirement savings, and show you the best way to stretch a dollar to its limits. It
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Finding a financial advisor that’s right for you is just like finding any other professional, like a tailor or a barber. Of course, if you pick the wrong barber, you wear a hat for a few weeks. Pick the wrong financial advisor, and the situation becomes dire. Most people find it hard to openly talk
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Are you absolutely sure that, in the event of a sudden death, you will receive the benefits of your spouse’s life insurance? When a policyholder with life insurance dies, there are many circumstances that can make their partner unable to collect the life insurance benefits. When a spouse applies to receive these benefits, there
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Senator Tim Kaine has slammed Trump for his plan to empower federal agency heads through Congress to dismiss federal employees. According to Kane, president Trump was afraid of being forced to be accountable by federal employees that may just be doing their jobs. While addressing federal workers during the annual legislative and grassroots mobilization
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