May 24, 2017

Trump Budget Trims Payouts for Federal Retirees



"...President Donald Trump’s “taxpayer focused” budget for fiscal 2018 includes smaller cost-of-living adjustments for veterans benefits payouts and eliminating those adjustments for some federal civilian retirees altogether.

The controversial suggestions are likely to be met with opposition from outside advocates and some lawmakers, but White House officials insist the moves are part of a broader strategy to balance the budget without sacrificing essential government services..

Trump’s plan calls for eliminating annual cost-of-living increases Federal Employee Retirement System enrollees completely, and lowering the adjustments for Civil Service Retirement System enrollees by 0.5 percent..."

Read more at militarytimes.com

Apr 20, 2017

Using Military Service to Increase Your FERS Pension



"...There’s a provision in FERS that allows you to make a deposit, or “buy back”, your active duty military service—and that time will count as creditable service for FERS retirement. Creditable service is important because it’s used to figure out when you can retire with a FERS pension AND how much your monthly pension will be!

Military service with a deposit counts as though you worked under FERS during that time—years, months and days are added to your creditable service. This can really add up to a tidy sum in retirement!..."

Read more at fedsmith.com

What Happens to Pay and Benefits During a Government Shutdown


"...When lawmakers return to Washington next week, they will have only a few days to approve a spending measure in order to avert a government shutdown beginning April 29...

Here’s what federal workers can expect in the realm of pay and benefits if the government closes, based on guidance from the Office of Personnel Management from the last shutdown in October 2013..."

Read more at govexec.com

Apr 10, 2017

Tax Tips



"...If you have recently retired, you may be learning that their are some benefits to leaving the workforce when it comes to income taxes.

For those of you in the planning stages, it might be a good time to think through the tax implications of preparing for your separation from federal service...."

Read more at Government Executive

Mar 25, 2017

Understanding Military Service Deposit Requirements

"...One of the least understood aspects of federal retirement policy involves capturing credit for military service. The military began deducting Social Security from military wages on January 1, 1957. Congress enacted a law in 1982 giving employees the opportunity to make a deposit into their civilian retirement system for active military time served after 1956.

Individuals who make the deposit are entitled to credit for the military service under both the Social Security system and the applicable civilian retirement system..."

Read more at FEDweek

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