Friday, January 23, 2015

How Will My Retirement Be Calculated?

Title: How Will My Retirement Be Calculated?

Article Snip: "...I have 30 years with the Government (non-continuous). My first 15 years were under the CSRS system. The second 15 years are under FERS. How will my retirement be calculated? ..."

Reference: fedsmith.com
How Will My Retirement Be Calculated?

Monday, January 19, 2015

Stealth attack on Social Security

Title: House makes 'stealth attack' on Social Security disability funds

Article Snip: "...The House of Representatives voted in its first week to change the rules to make reallocation harder. This stealth attack on Social Security and the 11 million disabled persons who depend upon it was launched with full knowledge that the funds for Social Security disability will run dry early next year. A failure to reallocate would mean that disability benefits would have to be cut by 20 percent. ..."

Reference: www.mcall.com
reallocation

Thursday, January 8, 2015

Maximizing Federal Retirement Benefits and Perks for Federal Employees

Title: Maximizing Retirement Benefits and Perks for Federal Employees

Article Snip: "...First off, you need to understand when you can retire. To qualify for retirement under FERS, you must meet three eligibility requirements: In most cases, you will not be eligible for retirement benefits until you reach your “MRA,” or Minimum Retirement Age. Your MRA depends on what year you were born in and typically falls somewhere between 55 and 57. - See more at: http://www.fedsmith.com/2015/01/06/maximizing-retirement-benefits-and-perks-for-federal-employees/#sthash.M0UaOEJG.dpuf..."

Reference: www.fedsmith.com

Saturday, December 27, 2014

You will be penalized if you enroll in Medicare outside of your eligibility period

Title: Medicare Enrollment

Article Snip: "...You are eligible to enroll in Medicare three months before you turn 65, the month of your 65th birthday, and three months after the month you turn 65. You will be penalized if you enroll outside of your eligibility period and your options to enroll will be limited. If you miss your eligibility window, you may sign up only during the general enrollment period at the beginning of the year, with few exceptions. And, if Social Security records reflect that you have enrolled late, you will be required to pay a penalty in addition to the monthly premium. The penalty for enrolling late is 10 percent for each year you delay enrollment in Medicare Part B. For most USPS retirees, the premium for Medicare Part B for 2015 is $104.90. Medicare B covers medically-necessary services from doctors and other health care providers, ambulance services, outpatient care, home health care, and some preventative services. For a complete list of covered services, visit www.Medicare.gov. Medicare Part A covers hospitalization and it’s free because you paid for it while you worked for the Postal Service...."

Reference: www.apwu.org

Monday, December 22, 2014

Am I next? 'Cromnibus' legislation sneaks in pension cuts for some

Title: What Retirees Need to Know about the New Federal Pension Rules

Article Snip: "...The last-minute deal to allow retiree pension benefit cuts as part of the federal spending bill for 2015 passed by Congress last week has set off shock waves in the U.S. retirement system...."

Reference: time.com
Federal Pension Rules, federal spending bill, Cromnibus,

Friday, December 19, 2014

Federal worker retirees to see 1.7% COLA increase in the January 2, 2015 checks

Title: Holiday Greetings from Retirement Services!

Article Snip: "...Federal retirees and survivors will receive a 1.7% Cost-of-Living adjustment (COLA) effective December 1, 2014. You will see the increase in the January 2, 2015, payment. ..."

Reference: www2.opm.gov
COLA 2015, COLA 2014,

Sunday, November 16, 2014

Social Security Retirement Benefits (Source: www.socialsecurity.gov)


Title: Social Security Retirement Benefits

Photo: www.socialsecurity.gov
Article Snip: "...www.socialsecurity.gov , is a valuable resource for information about all of Social Security’s programs...."
Reference: www.socialsecurity.gov
Social Security Retirement Benefits

Wednesday, October 22, 2014

Social Security Payments to Increase in 2015


Title: Social Security payments will increase 1.7 percent for retirees in 2015

2015 Social Security Increase
2015 Social Security Increase
Article Snip: "...Social Security payments for 64 million retired American workers will increase 1.7 percent in 2015. That means the typical retiree will get an extra $22 per month, receiving a $1,328 average monthly Social Security payment and $15,936 annually...."
Reference: www.csmonitor.com
2015 Social Security Increase

Tuesday, September 16, 2014

How to Make Early Retirement a Reality

Title: How to Make Early Retirement a Reality

Article Snip: "...Despite the total cost of a couple’s healthcare in their last 20 years being $215,000, the average savings of a 50-year-old is less than $44,000 – which equates to a total of $88,000 for retirement between a couple. This is far less than enough to cover half of the medical bills they will receive between age 65 and 85, and does not begin to account for housing, food, or any of the other necessities of a comfortable life..."

Reference: www.fedsmith.com

Monday, September 1, 2014

A Must Read: Planning For Long-Term Care For Dummies


Title: Planning For Long-Term Care For Dummies

Planning for Long-Term Care For Dummies
Long-Term Care Planning (Amazon)
Article Snip: "...As we live longer and healthier lives, planning for the long term has never been more important. Planning gives you more control, but it’s not easy to find accurate information and answers to your questions. That’s where AARP’s Planning For Long-Term Care For Dummies (For Dummies (Business & Personal Finance)) comes in. This comprehensive guide gives you questions to ask yourself and others about how best to achieve your goals, whether you have immediate needs or can take some time to sort out the possibilities. The book Covers home modifications so that you can stay at home safely for as long as you like Lays out the opportunities and costs associated with independent living, assisted living, and other options Gives you a range of driving and transportation alternatives Sorts out the various sources of care at home Helps you navigate the healthcare system Reviews the legal documents you should prepare and update Helps you determine whether you need long-term care insurance Offers checklists and other resources to help you make decisions Gives you guidance on how to talk to your family about sensitive issues If you're looking for trusted information on how to prepare for the future care needs for yourself or a relative, this sensitive, realistic, and authoritative guide will start you on the right road...."
Reference: Amazon

Monday, August 25, 2014

Is my Social Security check fair?

Title: Is my Social Security check fair?

Article Snip: "...A widow(er) who has contributed to the Social Security system for years could lose his or her benefits if spousal benefits are higher than his or her own retirement benefit. Is that fair, readers ask..."

Reference: www.pbs.org

Monday, August 18, 2014

Retirement saving is a low priority for the 36% of Americans living paycheck to paycheck

Title: Why one-third of Americans aren't saving for retirement

Article Snip: "...a significant swath of those on the cusp of retirement haven't put anything away, including 14 percent Americans 65 and older and over a quarter (26 percent) of Americans between ages 50 and 64. ..."

Reference: www.csmonitor.com

My Social Security Account: get online Social Security Statement, review lifetime earnings history, see estimates of your future benefits

Title: Sign up for a my Social Security Account

Article Snip: "...One of the best tools for planning a secure retirement is waiting for you at www.socialsecurity.gov: a my Social Security account. When you create your personal my Social Security online account, you will be able to get your online Social Security Statement, review your lifetime earnings history (and catch any errors while it is easier to fix them), see estimates of your future benefits, and more—important information that can help you plan and save for greater peace of mind. Opening a my Social Security account online is quick, safe, free, and easy. It takes only minutes. Go to the Social Security website at www.socialsecurity.gov and click on my Social Security...."

Reference: blog.usa.gov

Monday, June 16, 2014

Federal retirees are currently due a January 2015 cost-of-living adjustment of about 1.35 percent


Title: Guess who's going up 1.35 percent?

2015 Retiree COLA Update
Article Snip: "...Each year when the retiree COLA exceeds the federal pay raise, many working stiffs figure they will retire at the end of the year to get the higher COLA. Doesn't work that way. The COLA is pro-rated (on a monthly basis) based on how long you've been retired. So you can't retire a month or two before the COLA kicks in and qualify for it. +..."
Reference: www.federalnewsradio.com

Wednesday, June 4, 2014

Best and worst states for military retirees

Title: 10 Best and Worst States for Military Retirees

Article Snip: "...when searching for the best place to retire from the Armed Forces, there are several economic, social, and health care factors for a veteran to take into account. WalletHub, a personal-finance network, this week released a survey ranking the states and the District of Columbia as places for military retirement..."
Reference: military-retirement.blogspot.com

Sunday, May 4, 2014

FERS Annuity Supplement

Title: How Much is the Maximum Annuity Supplement?

Article Snip: "...The procedure for calculating the supplement is clearly spelled out in Chapter 51 of the CSRS & FERS Handbook. However, the explanation and instructions are 40+ pages in length. Summarized, you must..."

Reference: www.fedsmith.com
FERS Annuity Supplement,

Wednesday, April 30, 2014

CSRS vs FERS: some better off than others

Title: You May Be Better Off Than You Think

Article Snip: "...Under FERS, 40 years of service (I know, no one has this much service under FERS yet), would provide either 40 percent or 44 percent (if you’re 62 or older with more than 20 years of service) of your high-three. In addition, you’ll be entitled to Social Security or the FERS Supplement...."

Reference: www.govexec.com
FERS Special Retirement Supplement, Social Security, CSRS vs FERS,

Monday, February 24, 2014

Chuck Hagel Proposes Military Retirees Pay More


Hagel wants you to pay more
Title: DoD proposes deepest compensation cuts in all-volunteer era

Article Snip: "...Changes are also coming to Tricare. “We will ask retirees and some active-duty family members to pay a little more in their deductibles and co-pays,” Hagel said...."
Reference: militaryvetnews.blogspot.com
military retirees, Tricare,

Tuesday, February 18, 2014

Save us from Social Security cut! Send a quick message please


Title: No Chained CPI

Article Snip: "...We cannot break our promise to our seniors. These are benefits they earned over a lifetime. Our parents and grandparents put their faith in us, and we will not let them down. Please use this link to send a message to the president...."
Reference: ourfuture.org
Chained CPI

Friday, December 20, 2013

Military retirees slammed in bipartisan budget, thank you for your service

Title: Military Retirement Cuts: Prelude To Coming Social Security Changes

Article Snip: "...bipartisan budget that scales back cost of living adjustments for working age military retirees starting in 2015. Several sources including Military.com suggests that qualified participants could lose between..."

Reference: www.forbes.com

Tuesday, December 3, 2013

Kaiser recognized for FEHB federal employee health plans

Title: Kaiser recognized for federal employee health plans

Article Snip: "...Kaiser Permanente Hawaii’s health care plan for federal employees has been recognized as “Exemplary,” the highest possible rating, by the U.S. Office of Personnel Management, administrator of the Federal Employee Health Benefit Program...."

Reference: westhawaiitoday.com
Kaiser Permanente

Tuesday, November 19, 2013

Corporate lobbies using deficit fear-mongering to sell Social Security benefit cuts

Title: CEOs with Massive Retirement Fortunes Push Social Security Cuts

Article Snip: "...largely behind the scenes: Business Roundtable and Fix the Debt, corporate lobbies that use deficit fear-mongering to sell benefit cuts. These groups are made up of CEOs of America’s largest corporations—people with retirement accounts that are more than 1,000 times as large as those of the average Social Security beneficiary...."

Reference: www.thenation.com
attacks on Social Security

Friday, October 18, 2013

American voters put politicians on notice: Don’t cut Social Security and Medicare benefits

Title: Labor puts Dems on notice: Don’t touch Medicare and Social Security benefits

Article Snip: "...“We are opposed to Social Security, Medicare, and Medicaid benefits cuts. Period,” Silvers told me. “There will be no cover for members of either party who vote for such a thing.”..."

Reference: www.washingtonpost.com
attacks on Social Security, Altering Social Security, social security,

Wednesday, October 16, 2013

2014 Social Security COLA


Title: Seniors to get small Social Security increase in 2014

2014 Social Security COLA
2014 Social Security COLA
Article Snip: "...the fourth year in the last five that recipients receive little or no increase in benefits. Social Security benefits are expected to rise between ..."
Reference: cnn.com
2014 Social Security COLA

Wednesday, October 2, 2013

Medicare and FEHB: What are my choices?

Title: Medicare Choices

Article Snip: "...Little is more confusing for employees and retirees than the decisions that must be made when you become eligible for Medicare. Let's look at two scenarios to see how Medicare and Federal Employees Health Benefits Program can fit into one picture. ..."

Reference: www.govexec.com

Monday, September 30, 2013

Retirement options when faced with a RIF

Title: Retirement-eligible? Know your RIF options

Article Snip: "...options available to employees who are eligible to retire when facing a RIF..."

Reference: federaltimes.com
Retirement options when faced with a RIF

Thursday, September 12, 2013

Social Security Q & A

Title: The High Cost to Your Family of Filing for Social Security at 62, Even If You Need the Money

Article Snip: "...Even if you really need the money, consider picking up another job or downsizing before starting your Social Security benefits early...."

Reference: www.pbs.org

Tuesday, September 3, 2013

FEHBP, Medicare and Postal Workers would be harmed by Issa / Postmaster General healthcare plan

Title: GAO: USPS Healthcare Plan Would Hurt Medicare, Postal Workers

Article Snip: "...“The FEHBP, which includes many non-profit plans, is one of the best health insurance programs in the country,” Guffey added. “Removing postal employees would jeopardize the FEHBP, and would result in less coverage and higher healthcare costs for postal workers. ..."

Reference: www.apwu.org
Postal Service Healthcare plan,

Tuesday, August 20, 2013

Postal Service wants to pull retirees out of Federal Employees Health Benefits program - loss of a large worker benefit

Title: USPS Plan to Pull Out of Fed Health Benefits Could Cost Postal Workers

Article Snip: "...“The differences in deductibles and out-of-pocket maximums under the USPS plan -- on their own, or in combination with lower coverage levels for some services -- could lead to higher total costs for some postal employees and non-Medicare-eligible retirees, including those who would have lower premiums under the USPS plan,” GAO wrote in its report...."

Reference: www.govexec.com
Postal Service, Medicare, Federal Employees Health Benefits Program (FEHBP), FEHB and Retirees,

Sunday, August 11, 2013

2014 Federal Retiree COLA

Title: COLA? Maybe. Pay raise? Maybe not!

Article Snip: "...With a couple of months left in the countdown, federal-military-Social Security retirees are looking at a potential cost-of-living adjustment of ..."

Reference: www.federalnewsradio.com
2014 Federal Retiree COLA

Saturday, August 3, 2013

2014 COLA update

Title: The Senior Citizens League Warns 2014 Cost of Living Adjustment Flat

Article Snip: "... consumer price index (CPI) data through June, cost-of-living adjustments (COLAs) will stay pretty flat. Based on inflation growth over the past twelve months, the 2014 COLA will be in the vicinity of..."

Reference: www.watchlistnews.com
2014 COLA,

Sunday, July 7, 2013

U.S. government could soon be facing a shortage of workers

Title: Wave of federal retirees to hit government

Article Snip: "...In the first four months of 2013, some 60,000 employees filed for federal retirement benefits, a 43% increase..."

Reference: cnn.com

Thursday, May 16, 2013

Monday, April 15, 2013

Younger workers staying in safer G Fund

Title: TSP examining why so many young workers stay in 'super safe' G Fund

Article Snip: "...While automatic enrollment for new hires has increased participation in the Thrift Savings Plan over the last few years, a recent report suggests many of them are staying in the super-safe G Fund — instead of reallocating money into other funds. ..."

Reference: www.federalnewsradio.com

Monday, April 1, 2013

How to Avoid Taxes on Your Social Security

Title: How to Avoid Taxes on Your Social Security

Article Snip: "...Wouldn't it be nice to avoid paying tax on your Social Security benefits while in retirement? By planning ahead, you can avoid paying tax on your Social Security income and your effective tax rate will be very low...."

Reference: socialsecuritynewsgroup.blogspot.com

Tuesday, February 26, 2013

What is my retirement date?

Title: Retirement date calculation

Article Snip: "...What is my retirement date?..."

Reference: blogs.federaltimes.com
military buyback, military service, service computation date

Monday, February 11, 2013

federal retirement claims backlog spiked 37 percent

Title: Retirement Claims Backlog Spikes

Article Snip: "...The federal retirement claims backlog spiked 37 percent during the last month, due to an expected influx of new applications, according to the latest figures from the Office of Personnel Management...."

Reference: www.govexec.com

Friday, February 8, 2013

Planning an affordable retirement

Title: Planning for the lean and mean retirement

Article Snip: "...Americans have some significant challenges to overcome if we want to be able to afford and enjoy our retirement years. As a result..."

Reference: www.cbsnews.com

Thursday, February 7, 2013

Social Security Annual Cost of Living Increase

Title: Just Explain It: Maximizing Your Social Security Retirement Benefits

Article Snip: "...According to the Social Security Administration, the average single beneficiary will get $21 more each month – $34 for couples. It’s not much to begin with, and some of that extra cash could end up going to things like higher Medicare premiums or just groceries...."

Reference: finance.yahoo.com

Wednesday, February 6, 2013

Taking Social Security Too Early Can Cause Poverty in Old Age

Title: One Recession Cost Is Lower Social Security Benefits

Article Snip: "...Catherine Rampell of The New York Times reported on the economic difficulties of those in their 50s and early 60s suffering from high unemployment and decimation of their retirement savings by the recession. Many will be forced to take Social Security benefits as soon as they turn age 62. Unfortunately, they may be risking unnecessary poverty in old age as a consequence...."

Reference: nytimes.com