Since the enhancement of some benefits for federal employees earlier this week, a number of readers have been asking questions on the implementation of these new benefits. While many questions will not be answered for some time, here is information from the Office of Personnel Management on the new benefits that will be helpful to some of our readers.
The President has signed into law a bill that expands the human resources benefits for federal employees.
The Senate has approved a bill that will change a number of current human resources policies and includes changing the FERS retirement system to allow employees under this system to get credit for unused sick leave.
How will America pay for costs associated with changing the nation’s health care system? Many readers have a “Cadillac health plan.” Two Congressmen are concerned that a proposed tax of 40% on the FEHB will be unpopular among their federal constituents.
Social Security recipients and federal retirees may get a one-time payment of $250. This is a $13 billion dollar program proposed because no COLA increase is expected for Social Security recipients (or federal retirees) due to low inflation as measured by the CPI.
Some readers have been delaying their retirement with the expectation of getting a financial gain from credit for their unused sick leave. That may happen but the final legislation may not bring the windfall you are expecting.
A number of readers have been asking about the status of bills that would change the federal benefits program. A new conference report has rolled several of these proposed benefits changes into one bill. Here is a summary of the these changes in the conference report.
Investors in the Thrift Savings Plan have seen their returns reflecting a positive return for a number of months now. September continues the same upward trend.
A number of readers have been surprised, and at least some are angry or upset, over a premium increase in the federal long term care insurance program for some participants. Here is an explanation of how the increase will work and how much of an increase you may be facing.
The C fund has now had six straight months of gains in the federal Thrift Savings Plan. No doubt, TSP investors are cheering the 2009 results so far but there is still plenty of reason to be cautious in investing your retirement funds.
