Planning for Retirement Despite Benefit Cut Proposals

"...News of various proposals to cut the retirement benefits of federal employees continues to come out of Washington.

The White House’s 2019 budget proposal contained various proposals to reduce or even eliminate some current retirement benefits. Among them are a move from a high 3 to a high 5, reduction or elimination of cost of living adjustments (COLA), and increasing federal employees’ share of contributions to retirement under FERS...."

Read more at FedSmith.com

Changes Coming to Federal Retirement Calculations?

"...Will the amount a federal employee must contribute to a future pension go up in the near future? Will the computation for calculating the amount of the pension contribution change from a “high three” to a “high five”?

No one knows with any certainty what will emerge from Congress on these issues. But, with the massive federal deficit that is still increasing by hundreds of billions per year, the bruising budget battles looming in Congress in the near future, and the wide divide between Republicans that generally want to reduce the deficit and decrease government spending and Democrats that generally want to increase spending and continue deficit spending, anything is possible..."

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Federal Retirement Rates and Returns

"...In April, I wrote about a webinar I had conducted on the subject of long- and short-term planning for retirement. Following the webinar, participants posted hundreds of questions about topics I had covered. I decided that over the next two weeks, I’ll try to address some of them. So let’s get right to it..."

Read more at GovExec.com

Federal Retirement Benefit Cuts Debated

"...A House panel continued debate Wednesday on plans to tighten up pensions for both federal workers and members of Congress.

Proposals to cut a defined pension plan under the Federal Employees Retirement System drew the ire of congressional Democrats and labor union groups, while suggested reductions to lawmaker benefits were more warmly received at a House Oversight and Government Reform Subcommittee on the federal workforce Wednesday. "It is clear that the federal taxpayer cannot afford the current federal pension cost structure in the long term," said Rep. Dennis Ross, R-Fla..."

Read more at govexec.com

Hearing on Federal Pension Reform Announced

"...Congressman Dennis Ross (R-FL) recently announced that he will hold a hearing to explore options for reforming the entire federal pension system to bring it more in line with the private sector.Reforms being discussed would also include members of Congress in order to ensure they are treated no differently than the rest of the federal workforce, but they would not affect or reduce pensions for veterans or the military..."

Read more at fedsmith.com

Should I Retire This Year?

"...What can you expect in 2012 - more of the same or a reprieve from the attacks of the media and Congress? While no one can know for sure, there are some considerations you can take into account to help you be prepared for whatever the future brings..."

Read more at fedsmith.com