The Office of Personnel Management is receiving more applications for the phased retirement program this year than it had during the first full year of its existence, but the numbers are still relatively low, given the large number of federal employees who are or will be eligible by the end of fiscal 2017.
Congress and the White House have a laser-focus on four major parts of the federal civil service retirement program. So which one is going to get the ax?
Why do so many federal employees move out of TSP when they retire from the government? What should you do?
Some Republicans are joining about 100 House Democrats in voicing their opposition to the president’s proposed changes to federal retirement.
House Oversight and Government Reform Committee Ranking Member Elijah Cummings (D-Md.) and Government Operations Subcommittee Chairman Mark Meadows introduced the TSP Modernization Act, which would give participants in the Thrift Savings Plan more options and flexibility to withdraw from their accounts. It’s a companion bill to the legislation Sens. Tom Carper (D-Del.) and Rob Portman (R-Ohio.) introduced in April.
Senators sent the Congressional Budget Office a series of questions related to its recent study comparing federal employee compensation to the private sector. But senators won’t find much clarity or many concrete conclusions from CBO’s responses.
Have you protected your TSP from the next stock market crash? Financial planner Arthur Stein will explain what you should be doing now to protect your financial assets when he joins host Mike Causey on this week’s Your Turn. June 21, 2017
What’s it like to work for the world’s largest nonprofit whose top brass are mostly millionaires looking to cut your pay and pension?
The Office of Personnel Management is warning federal annuitants of a second scam this year. This time, companies are offering cash payments in exchange for all or part of a federal employee’s future annuity payment. OPM’s Office of Inspector General is also continuing its 30-year push to get Congress to include the Federal Employee Health Benefits Program (FEHBP) in the Anti-Kickback Statute.
About 100 House Democrats wrote to Speaker Paul Ryan (R-Wis.) and Minority Leader Nancy Pelosi (D-Calif.), voicing their opposition over the president’s four major proposed changes to federal retirement. The administration included the proposals in the fiscal 2018 budget proposal and would have a significant impact on both current and future federal employees and retirees.
Tom Walker, founder of Walker Capital Preservation Group, Inc., outlines basic questions every federal employee should ask themselves as they develop their plan for retirement.
The Office of Personnel Management took advantage of the lowest number of new retirement claims since December 2016 to reduce its backlog by nearly 3,000 claims. OPM’s retirement backlog currently sits at 16,140 claims, the lowest number yet in 2017.
The Federal Retirement Thrift Investment Board, the agency that administers the Thrift Savings Plan, is also keeping a close eye on 2018 budget process. The board says the proposed changes to the federal retirement system included in the president’s budget request could have significant impacts for retirees and how they participate in the TSP.
Environmental Protection Agency acting Deputy Administrator Mike Flynn said more details about what positions are included in the VERA/VSIP program will be available this summer.
While one fund took an unexpected downturn into the red, the rest of the federal retirement funds generally posted higher returns last month or remained relatively unchanged.