OPM’s Retirement Backlog Continues to Grow
The outstanding backlog of retirement claims grew again in February according to new data from the Office of Personnel Management.
Federal employee retirement news: news about retirement-related topics as it pertains to employees of the federal government. Topics include FERS, CSRS, the latest TSP performance, annual COLA updates, and more.
The outstanding backlog of retirement claims grew again in February according to new data from the Office of Personnel Management.
The author outlines special retirement considerations in areas such as FERS annuity calculations, the Thrift Savings Plan, and insurance for federal employees who work in law enforcement.
Are the lifecycle funds a good investment for you? Here is a summary of how these funds are constructed.
A lesser-known basis for a denial of a Federal Disability Retirement application is what is called “situational disability.” The author explains what this means and why most situational disability cases are failed applications at the outset as well as how to avoid them.
The author says that the chained CPI which the president recently dropped from his budget proposal would actually have been a good thing because of its potential to help with reducing the national debt. He notes that the actual cost to federal retirees from the chained CPI would have been less than the cost of a pizza each month and illustrates its financial impact for federal pensioners.
The president’s budget proposal that is due out next month will not include the chained CPI that was included in his budget blueprint from last year.
Some lawmakers want the president to exclude the chained CPI from his 2015 budget proposal.
As a general rule, your military service in the Armed Forces of the United States is creditable for federal Civil Service Retirement purposes as long as certain conditions are met. There is an exception, however, which the author explains.
The author discusses a strategy for maximizing Social Security benefits known as “file and suspend.” In addition to detailing who can use this strategy, he outlines some examples of how it might work.
The Windfall Elimination Provision (WEP) means if you are getting a Social Security benefit as well as a pension where you did not pay into Social Security, your Social Security benefit is reduced. The author provides examples of the financial impact this can have on your earnings.