A look back and a look ahead to federal benefits

Insight by NITP, Inc

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January 8, 2018 – Host Bob Leins and co-host Tammy Flanagan, Senior Benefits Director at NITP, welcome Mike Causey to take a look back at Federal Benefits over the past year and a look to what’s ahead.

Looking Back to 2017:

  • Federal employees and retirees dodged several bullets in 2017:
    • The high-three did not become the high-five
    • Retirees continue to receive cost of living adjustments
    • Retirement contributions remain unchanged
  • Retirees received a 2% COLA based on 2017 prices
  • The TSP withdrawal options will become more flexible in the coming years

Looking forward to 2018:

  • Employees and retirees should not let their guard down to future changes
  • TSP distributions should be carefully considered
  • Medicare premiums continue to rise and affect more retirees thanks to new IRMAA thresholds
  • Although open season is over, employees and retirees can become more educated on health plan choices to prepare for open season 2018
  • New earnings limits, maximum taxable income, and COLA for Social Security

For questions or comments, email us in advance at ForYourBenefit@nitpinc.com