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The I Fund, that is the international stock fund operated by the Thrift Savings Plan. Next year, the Federal Retirement Thrift Investment Board will overhaul how the I Fund goes about making investments.
Actual 2024 federal pay raises for civilian employees will range from 4.7% to 5.7%, depending on where they work. Here is a list of all the raise amounts based on locality pay area.
President Joe Biden signed an executive order implementing an average 5.2% federal pay raise for most civilian employees in 2024, the final step needed to make the salary increases official.
The Federal Prevailing Rate Advisory Committee voted in favor of a draft proposal to reform the pay system for blue-collar federal employees, but several members remain concerned about actual implementation.
More than a million military service members participate in the so-called blended retirement system. It lets them make TSP-style savings contributions that are portable. The funds go with them when they leave the military. But there is more to financial readiness, something to think about in a high-spending season.
Multiple sources tell Federal News Network the Office of Management and Budget told agencies to target specific job classifications like cyber or data scientists or certain grade levels for increased salaries.
In today's Federal Newscast: Service members will see basic allowance for housing rates increase by an average of 5.4% starting January 1. Senate Republicans say they smell a rat in the case of the missing OPM use-of-official-time webpage. And a bipartisan bill in Congress aims to increase the salary of VA radiation specialists from an annual $195K to $280K.
The National Rural Letter Carriers Association filed a national-level grievance this week over the Postal Service’s “repeated failure to pay rural carriers correctly and on time.”
A few things Thrift Savings Plan participants should know about upcoming changes from the SECURE 2.0 Act, aiming to make it easier to save for retirement.
Even in today's inflationary times, the word millionaire has a certain cachet. With a little self discipline and the power of compound interest, millionaire status is available to federal employees who make wise use of the Thrift Savings Plan.
The Department of Veterans Affairs will be able to offer higher salaries to radiation specialists who treat veterans with patients, if a bipartisan bill makes it through Congress.
The State Department is honoring Michelle Neyland, a congressional adviser for its Bureau of International Affairs who helped make a pay raise for Domestic Employees Teleworking Overseas a reality.
In its final regulations, OPM said some commenters held “a mistaken belief” that certain counties were being inadvertently being excluded from the locality pay areas — but that is not the case.
While still 2,826 claims higher than the steady state goal of 13,000, OPM hasn't seen backlog levels this low since December of 2017, when claims were below 15,000.