Sep 18, 2017

5 Proposed Changes to Federal Retirement

"...The Congressional Budget Office has issued a report on a range of potential changes to the federal retirement system that could give legislators a starting point when considering significant changes for federal retirees in the 2018 budget and beyond.

Both Republicans and the president have proposed their own ideas on ways to cut federal retirement benefits to achieve new cost savings.

Both are looking for aggressive savings, with the president’s 2018 budget request including four specific changes to the current federal retirement system to try to save more than $4.1 billion in 2018 and roughly $200 billion over the next 10 years.

The House Budget Committee, for its part, included similar recommendations in its 2018 request, albeit with a more modest estimate for cost savings...."


Take an Active Role in Protecting your Benefits

"...The budget proposal submitted by the White House has many federal employees in a near state of panic about their retirement benefits. They are asking loads of important questions. Yet the one I hear most is “What can I do to protect my retirement?”

Historically a White House budget proposal ultimately shared little in common with the final “approved” budget. Even today, I would expect other proposals, lots of bluster, arguments, compromises and finally a budget that looks very little like this proposal...

Budget negotiations seem like a process that is out of federal employees’ control. However, this is an area where feds can have a voice and fight for their retirement security.


Read more at Federal News Radio

Sep 15, 2017

Modest COLA on Track for 2018

"...The August CPI is a good indication of what the cost-of-living adjustment for Federal retirees and Social Security beneficiaries would have been without the influence of Hurricanes Harvey and Irma.

Without factoring in the effects of the recent storms, Federal retirees and Social Security beneficiaries remained on track for a modest cost-of-living adjustment in January based on the August inflation data released by the U.S. Bureau of Labor Statistics.

For the July-August period, the Consumer Price Index for Urban Wage Earners and Clerical Workers All Items Index rose 1.7% compared to the July-August-September three-month average in 2016...."

Read more at FedSmith

Jul 27, 2017

Prognostication for 2018 COLA

"...How big will the COLA be for retired federal employees and Social Security recipients in 2018? Will current federal employees receive more or less than the 2018 COLA?

As of July, the relevant figure for the 2018 COLA increase is 1.6%. That is not the final amount that will be applicable in January 2018.

The cost of living adjustment (COLA) for Social Security recipients and federal retirees has averaged about..."

Read more at FedSmith

Jul 26, 2017

Date Importance in Credit for Military Service

"...I want to point out the dates that control the creditability of military service in determining your eligibility to retire and whether you’ll need to make a deposit to have it used in the computation of your annuity...."

Read more at FedWeek

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