Feb 21, 2014
"...President Obama will not tinker with federal retirees’ cost-of-living adjustments in his fiscal 2015 budget, which is scheduled for release in early March.
Obama proposed switching to a chained Consumer Price Index -- a formula that slows the rate of inflation growth and in turn, reduces federal retirees’ and Social Security beneficiaries’ COLAs -- in his fiscal 2014 budget. He first pitched the change during the 2012 fiscal cliff negotiations.
A move to the chained CPI is still on the table in hypothetical future budget negotiations, White House spokesman Josh Earnest said at a press briefing on Thursday, but it will not be in the president’s fiscal 2015 budget..."
Read more at GovExec.com
Feb 13, 2014
"...A postal reform bill cleared by the Senate Homeland Security and Governmental Affairs Committee would, if enacted, have wide-ranging impacts on key federal benefits programs.
The bill would allow USPS to bargain over a retirement program to replace FERS for employees hired after the enactment date, including on issues such as..."
Read more at FEDweek
Jan 29, 2014
"...The Senate Homeland Security and Governmental Affairs Committee debated an updated version of postal reform legislation Wednesday that would allow the cash-strapped U.S. Postal Service to restructure its health benefits program.
Included in the revised postal reform bill from Sens. Tom Carper (D-Del.) and Tom Coburn (R-Okla.) is a proposal that would create a new postal-only health plan within the broader Federal Employees Health Benefits Program (FEHBP).
"If the Postal Service is going to be a viable, self-sustaining entity and not continue to be a drag on the Treasury, we need to work things out on the retiree health care side," Carper said in his opening statement ahead of the bill markup. "And wonder of wonders, I think we've done that."
The program, which would cover all postal employees and retirees, would require Medicare-eligible postal retirees to also enroll in Medicare parts..."
Read more at FederalNewsRadio.com
Jan 28, 2014
"...For those who entered covered service with the United States Government on or after January 1st, 1984, retirement benefits are referred to as FERS (Federal Employees Retirement System).
FERS is a complex system and much depends on an individual’s status with the government when planning for what to expect upon retirement. This is a guide intended to assist readers in understanding, calculating, and maximizing their FERS..."
Read more at FedSmith.com
Nov 18, 2013
"...If you are planning to retire shortly in order to get the 1.5 percent cost-of- living raise effective in January, a word of warning: The ship has sailed. Without you!
You can retire, of course. But the first COLA you are likely to taste won't be until January 2015.
Retirees (federal, military and Social Security) are due the COLA in January. Federal workers are due a..."