Social Security has, again placed on the chopping block

Title: Social Security: What Is At Stake? Why Now?

Article Snip: "...For the second time in little over a year, the Obama Administration has made a preemptive offer to change the formula for adjusting Social Security's Cost of Living Adjustment formula (COLAs) as part of a "Grand Bargain...."

Reference: www.huffingtonpost.com

Social Security and Medicare cuts being pushed

Title: Social Security and Medicare trim would squeeze retirees

Article Snip: "...Republican leaders have made clear that their price for swallowing higher tax rates for wealthy Americans is an agreement by President Barack Obama and fellow Democrats to scale back the growth of Medicare and Social Security, which serve more than 3.5 million recipients in Florida...."

Reference: sun-sentinel.com

Some standing strong against attacks on Social Security/Medicare

Title: Pelosi Takes Hardest Line Against Raising Medicare Eligibility Age

Article Snip: "...“As I have said, don’t even think about raising Medicare age,” Pelosi said. “We are not throwing America’s seniors over the cliff to give a tax cuts to the wealthiest people in America.”..."

Reference: talkingpointsmemo.com

Sequestration and Retirement Buyouts

Title: Federal worker Q&A guide to the fiscal cliff: Ten answers on jobs, cuts and more

Article Snip: "...Early retirement offers allow employees to retire at any age with 25 years of service, or with at least 20 years of service at age 50 or above. That’s earlier than under standard federal retirement eligibility combinations. In some circumstances, retirement benefits are reduced, which discourages employees from taking such offers...."

Reference: www.washingtonpost.com

Federal Employment Retirement Wave Expected in January

Title: OPM anticipates wave of federal retirement claims in January

Article Snip: "...an anticipated wave of applications — 21,000 — in January, typically a popular time for federal employees to retire...."

Reference: www.bizjournals.com

Medicare Part B vs federal retiree plan

Title: Which is better, a federal retiree plan or Medicare Part B?

Article Snip: "...I could sign up for Medicare Part B but I’m not sure I need it because my husband is a retired federal employee and we plan on maintaining his FEHB Blue Cross-Blue Shield coverage. On the other hand, our friends say that Part B helps with out-of -pocket expenses. Which is a better choice for us?..."

Reference: consumerreports.org
Medicare Part B

Erosion of federal employee pay and benefits causing retirement exodus

Title: Federal retirements spike as baby boomers retire, economy stabilizes

Article Snip: "...William R. Dougan, president of the National Federation of Federal Employees, blamed what he called the "exodus" in part on "legislative attacks" by Congress that he said threaten to erode pay and benefits. Dougan, whose union represents 110,000 federal employees, said many experienced workers would rather leave now than risk reductions to a retirement package they have banked on, he said...."

Reference: baltimoresun.com

Obama and several lawmakers support making feds pay more for defined retirement benefit

Title: Will Budget Deal Target Federal Pay and Benefits?

Article Snip: "...Simpson-Bowles recommended creating a task force to look at changing the pension system for feds and eligible retired service members. One possibility the commission suggests is increasing the amount feds contribute to their pensions. It’s worth noting that Obama and several lawmakers also support making feds pay more for their defined retirement benefit...."

Reference: www.govexec.com

Don't make these Social Security retirement mistakes

Title: Four Costly Mistakes that Retirees Make about Social Security

Article Snip: "...Claiming reduced benefits early is just one of the four biggest mistakes that many retirees make regarding Social Security benefits. The others include..."

Reference: www.investmentnews.com

Listen: Do not cut Social Security or Medicare

Title: Bernie Sanders, Progressive Senators Pressure Obama Not To Cut Social Security

Article Snip: "...A group of progressive lawmakers led by Sen. Bernie Sanders (I-Vt.) on Thursday called for protecting Social Security and Medicare benefits in any deficit reduction deal. ..."

Reference: www.huffingtonpost.com

Federal Employees not represented in White House talks?

Title: White House talks don’t include federal labor leaders

Article Snip: "...No one whose prime responsibility is to look out for the federal workforce was there, even though it is only federal workers who so far have been targeted in deficit reduction. And they could be called on to sacrifice more. ..."

Reference: www.washingtonpost.com

Opinion: Post drive to cut Medicare and Social Security

Title: Post in Hyper Drive on Effort to Cut Social Security and Medicare

Article Snip: "...The Washington Post is throwing all journalistic norms aside in its drive to cut Social Security and Medicare...."

Reference: www.businessinsider.com

Federal retiree TSP and pension information you should consider

Title: Federal retirees with pensions should keep some liquid assets

Article Snip: "...Your Thrift Savings Plan assets are what many call “the third leg” of retirement security: liquid financial assets that supplement your Social Security and pension income. You are entirely correct in your concern about converting your TSP assets..."

Reference: www.dallasnews.com

2013 COLA lowest since the 1970s

Title: Staying Educated on Social Security’s COLA Increase

Article Snip: "...known as COLA. This increase of 1.7 percent is the lowest increase since the 1970s, and will take effect in January of 2013..."

Reference: tellmenews.com
2013 COLA increase, 2013 Social Security COLA,

Federal Retirement Buyout Trending

Title: $hrinking buyouts: An offer you can't refuse?

Article Snip: "...Since $25,000 buyouts were introduced in the 1990s, many feds hoped and assumed Uncle Sam would sweeten the kitty. Some have delayed retirement anticipating more generous buyouts. ..."

Reference: www.federalnewsradio.com
Federal retirement, Buyout, early retirement, buyout incentive,

TSP Roth investments skyrocket

Title: Investments swell in TSP Roth funds

Article Snip: "...The number of Thrift Savings Plan participants with Roth accounts swelled to 51,354 in September, the board governing the plan said Monday...."

Reference: www.marinecorpstimes.com
Roth, TSP

2013 Retirement COLA released for 2013

Title: Federal retirement COLA of 1.7 percent announced

Article Snip: "...The increase, based on an inflation measure announced Tuesday, mirrors the cost-of-living adjustment (COLA) to be paid to Social Security beneficiaries. There are two main federal retirement systems: the Civil Service Retirement System, which..."

Reference: www.washingtonpost.com
2013 Federal Retiree COLA

Medicare open enrollment begins today

Title: Medicare Open Enrollment Starts Today

Article Snip: "...The Medicare open enrollment period begins today. Learn more about the health and drug plans available...."

Reference: usa.gov
Medicare, Medicare open enrollment

Growing influx of new retirement claims increases backlog

Title: Federal Worker Retirement Claims Surge in September

Article Snip: "...OPM completed 12,563 retirement claims in September -- the most claims processed in a single month so far this year and 1,063 more than it expected to complete last month. The agency received 11,952 new claims in September, 4,952 more than it anticipated, and 2,979 more than it received in August. The backlog now stands at..."

Reference: www.nationaljournal.com
retirement processing backlog, how long before i get my retirement check?, Federal retirement,

APWU Postal Retirement Buyout Incentive

Title: APWU, USPS Negotiate Retirement Incentive

Article Snip: "...The APWU has negotiated a retirement incentive agreement that awards eligible full-time career employees a $15,000 payment in two installments, President Cliff Guffey has announced. The first installment will be $10,000; the second will be $5,000...."

Reference: www.apwu.org
APWU Postal Retirement Buyout Incentive

Employment after federal retirement: Contractors want you

Title: Contracting world offers plenty of job opportunities

Article Snip: "...Do you have an itch to switch to the private sector — either because government does not suit you or because you want to keep working during your federal retirement? If so, check out the federal contracting world...."

Reference: federaltimes.com
Employment

2013 Federal Retiree COLA Projection

Title: Budget office makes 2013 COLA prediction

Article Snip: "...civilian retired pay and Social Security. There had been discussion earlier this year that the annual COLA could be as high as 1.9 percent. However, a Sept. 12 statement from the nonpartisan budget office “assumes that the COLA effective on Dec., 1, 2012 would be..."

Reference: www.marinecorpstimes.com

FEHBP up 7.2% in two years, did your pay go up that much?

Title: Federal workers' healthcare premiums to rise 3.4 percent

Article Snip: "...The average premium for federal employees will rise 3.4 percent next year, the Office of Personnel Management (OPM) announced Thursday. The increase translates to an extra $2.75 per paycheck for individuals, or $6.39 for families. Federal workers' premiums went up 3.8 percent this year..."

Reference: thehill.com

Best Postal Retirement Date

Title: Best time to retire from USPS

Article Snip: "...Do the same dates hold true for postal workers as federal employees? To maximize my benefits, I believe ..."

Reference: federaltimes.com

Federal employee pre-retirement information

Title: Federal employee pre-retirement information

Article Snip: "...Retirement benefits are among the important benefits of Federal employment. It’s never too early to start planning for your retirement. In this section of the OPM website, prospective Federal employees, current Federal employees, and HR specialists can find information about Federal retirement benefits. ..."

Reference: OPM
pre-retirement planning,

Retirees to take hit

Title: The 0% Solution: Fed Strands Bank Savers, Retirees

Article Snip: "...Left out of the party once again are bank savers and U.S. retirees who live on fixed incomes, who once again lose out in the game of monetary musical chairs as low rates eat into their income -- just as they're paying more for critical commodities such as oil, gas, and groceries...."

Reference: www.thestreet.com

Federal retirement benefits and taxes

Title: Tax Issues You Could Face in Retirement

Article Snip: "...If you owe taxes on your federal retirement benefits, you can either make estimated tax payments or have the tax withheld from your regular benefit checks. You can choose to have 7%, 10%, 15% or 25% withheld. To authorize the withholding, file Form W-4V, Voluntary Withholding Request, with the Social Security Administration...."

Reference: www.foxbusiness.com
Federal retirement benefits and taxes

Windfall Elimination Provision

Title: Windfall Elimination Provision

Article Snip: "...The Windfall Elimination Provision affects how the amount of your retirement or disability benefit is calculated if you receive a pension from work where Social Security taxes were not taken out of your pay. A modified formula is used to calculate your benefit amount, resulting in a lower Social Security ­benefit than you otherwise would receive. ..."

Reference: www.ssa.gov

Retirement Planning Tips

Title: 10 Ways to Maximize Your Federal Benefits In The Middle of Your Career

Article Snip: "...it’s never too early to start thinking about how to prepare. It is even more important to make sure you’re doing the right things now, since there is still time to make a meaningful impact. You may even find that your eventual retirement does not have to be as far away as you thought...."

Reference: www.fedsmith.com

Special Retirement Supplement (FERS Supplement) Fact Sheet

Title: Special Retirement Supplement (FERS Supplement) Fact Sheet

Article Snip: "...The special retirement supplement (also known as the FERS supplement) is unique to FERS. It substitutes for the Social Security part of your total FERS benefit until age 62, when most people become eligible for Social Security. The purpose of the supplement is to provide a level of income before age 62 similar to what you will receive at age 62 as part of a Social Security benefit... The eligibility requirements are..."

Reference: Federal Retiree
FERS Special Retirement Supplement, Social Security special retirement supplement, Social Security special retirement supplement (SRS),

Federal retirees learn student-debt can be docked from Social Security

Title: Feds Dock Social Security for Unpaid Student Loans

Article Snip: "...thousands of retirees are learning that defaulting on student-debt can threaten something that used to be untouchable: their Social Security benefits...

According to government data, compiled by the Treasury Department at the request of SmartMoney.com, the federal government is withholding money from a rapidly growing number of Social Security recipients..."

Reference: socialsecuritynewsgroup.blogspot.com

Medicare part B and FERS retiree

Title: FERS retiree and Medicare part B

Article Snip: "...I was 50. I elected survivor benefits for my spouse, who is 14½ years older than I am. She was 64 when I retired. I elected to remain in FEHB. Additionally, I did not stop working, as I took a job with a private firm before my retirement date and had medical benefits with that firm, in addition to my FEHB coverage. When my spouse was eligible to receive Medicare Part B ..."

Reference: federaltimes.com

Boost Social Security Checks

Title: How to Boost Social Security Checks

Article Snip: "...certain complex strategies that can help pad a married couple's retirement savings with tens of thousands of dollars of additional income. Don't make your claiming decision lightly..."

Reference: socialsecuritynewsgroup.blogspot.com
social security,

Special hiring authorities to deal with emergency situations

Title: Hurricane guidance issued to federal workers, agencies

Article Snip: "...Special hiring authorities to deal with emergency situations allow agencies to shortcut the often lengthy standard federal hiring process, to create temporary positions, and to rehire federal retirees without the usual reduction in pay to offset the value of their annuities...."

Reference: www.washingtonpost.com

Applying for immediate retirement under the Federal Employees Retirement System

Title: Applying for immediate retirement under the Federal Employees Retirement System

Article Snip: "...Applying for immediate retirement under the Federal Employees Retirement System is a Paperback book from the U.S. Government. Get it now. Find out how to apply for retirement, when to apply for retirement, ..."

Reference: federalretiree.blogspot.com

Unemployed Forced to Early Social Security

Title: Forced to Early Social Security, Unemployed Pay a Steep Price

Article Snip: "...Keany lives in a tiny mobile home, barely getting by on little more than $1,082 a month from Social Security..."

Reference: socialsecuritynewsgroup.blogspot.com

Estimate the amount of the special retirement supplement

Title: Special retirement supplement

Article Snip: "...You can estimate the amount of the special retirement supplement by using the following formula..."

Reference: federaltimes.com
special retirement supplement

OPM contractor mails federal retirees post cards with social security numbers visible

Title: OPM contractor accidentally exposes retirees' Social Security numbers

Article Snip: "...OPM realized what had happened Oct. 29 and began trying to recover them. Because of other errors in the data files, the postcards were mailed to government agencies — and not to the retirees, as intended — in 150-card stacks. The IG report said that all but 650 postcards were found at those agencies...."

Reference: www.federaltimes.com

Early retirement buyout incentive for postal mail handlers

Title: Mail Handlers to be offered retirement incentive

Article Snip: "...The monetary incentives included in the MOU will be available (with certain restrictions) to all Mail Handlers who are currently eligible for regular retirement, voluntary early retirement, and all other employees who may wish to separate from the Postal Service. Any Mail Handler wishing to participate in this retirement incentive offer must do so no later than July 2, 2012..."

Reference: National Postal Mail Handlers Union
Early retirement incentive, Mail Handler Buyout, Postal Buyout Incentives, Postal Retirement Incentive, Voluntary Early Retirement (VER)

Social Security Benefits & Taxes

Title: Social Security Benefits & Taxes

Article Snip: "...paying income taxes on your “contributions” you are ready to retire and collect the benefits—only to find out that they may be taxable! It doesn’t seem fair, does it? Well, here’s how..."

Reference: socialsecuritynewsgroup.blogspot.com
income taxes, social security benefits

$20,000 early retirement incentives to 21,000 postmasters

Title: Postal Service drops plans to close thousands of post offices, proposes reduced hours

Article Snip: "...“If the House bill came to the floor, there would have been an uprising in both parties,” said Rep. Peter Welch (D-Vt.), who has joined forces with Rep. Michael G. Grimm (R-N.Y.) in fighting the closures...."

Reference: www.washingtonpost.com
early retirement incentives

Rep. Issa feels returning Postal Service money is a bailout

Title: GOP lawmaker calls Senate postal bill a '$33 billion bailout'

Article Snip: "...Senate bill would return some of the money that the USPS overpaid into its retirement fund, and require some of that money to be used to pay for the early retirement of thousands of USPS workers. It also delays for two years plans by the USPS to start closing offices...."

Reference:
S. 1789, Rep. Issa, Postal Buyout Incentives, USPS early Retirement,

Postal retirement incentives for about 100,000 in near future?

Title: Congress to make key vote on post office closures Tuesday

Article Snip: "...Postal Service to recoup $11 billion in retirement benefits already paid for future retirees and direct that money toward incentives for about 100,000 employees to retire in the near future. ..."

Reference: www.mitchellrepublic.com
Postal retirement incentives, USPS early Retirement,

Pension reform and the Postal Service

Title: Senate, letter carriers consider Postal Service pension reform

Article Snip: "...the Senate began considering the 21st Century Postal Service Act, which would allow for cash buyouts up to $25,000 among incentives to get as many as 100,000 postal employees to retire early. The previous pension overpayment is because of a federal law requiring it to prefund ..."

Reference: www.pionline.com

Thrift Savings Plan--essentially, the 401(k) plan for federal government workers

Title: The Government's Retirement Plan Has Appeal, and a Few Holes, Too

Article Snip: "...In a recent survey, 86% of the government workers who participate in the Thrift Savings Plan--essentially, the 401(k) plan for federal government workers--said they were satisfied or very satisfied with the plan. ..."

Reference: morningstar.com
TSP, Federal Employee Retirement,

Maximize your Social Security Benefits

Title: The Impact Of Claiming Age On Monthly Social Security Retirement Benefits: How Knowledgeable Are Future Beneficiaries?

Article Snip: "...For example, very few knew the number of years of highest earnings that are used to calculate benefits...."

Reference: www.aarp.org
The Impact Of Claiming Age On Monthly Social Security Retirement Benefits: How Knowledgeable Are Future Beneficiaries?

Would Postal plan destroy the FEHBP for all federal employees?

Title: Democrats skeptical of USPS push to sponsor own healthcare program

Article Snip: "...“In destroying the FEHBP, the USPS would disrupt the health insurance of 8 million Americans..."

Reference: thehill.com
Federal Employees Health Benefits Program (FEHBP), Threat To FEHBP, destroy the FEHBP,

Interior Department is developing a plan to cut almost 5,000 jobs

Title: Interior Department planning for 7% staffing cut

Article Snip: "...The Interior Department is developing a plan to cut almost 5,000 jobs by September 2013, according to a memo this week from a top agency official, but a spokeswoman for the Office of Management and Budget downplayed the likelihood that the plan will take effect...."

Reference: www.federaltimes.com
federal job cuts, Department of Interior, Interior Department,

Federal agency plans to grant buyouts and early-outs

Title: IRS offers targeted buyouts to employees in enforcement divisions

Article Snip: "...The early retirements and buyout offers will be offered to employees in three enforcement areas..."

Reference:
www.federalnewsradio.com

Possible Postal Buyout Incentives and Early Retirements as USPS Announces Mail Processing Plant Closures

Title: Huntsville Mail Processing Facility located on Wall Triana to Close

Article Snip: "...Postal officials also stated that the U. S. Postal Service is also considering early retirement programs and possible buyout incentives to reduce the number of postal employees...."

Reference: Rocket City

Early Retirements and Buyouts may be offered to few in Justice

Title: The 2013 budget request: agency by agency

Article Snip: "...employees will have to leave Justice if they cannot find jobs elsewhere in the department, and they will be offered buyouts and early retirements. ..."

Reference: www.federaltimes.com
Federal Buyouts, Federal Buyouts, early retirements,Justice Department Buyouts,

Federal Retirement Cuts Bill Passes House Panel

Title: Lawmakers insert federal pension provisions in highway bill

Article Snip: "...a high-five average salary calculation for annuities rather than the current high-three average pay calculation. The current Federal Employees Retirement System-defined benefit pension is calculated by taking the retiree's three highest salaries and dividing it by years of service and a variable pension accrual rate. ..."

Reference: www.govexec.com
Federal Retirement

Federal agencies offering buyouts or early outs continues to grow

Title: A new wave of federal workers is poised to emerge

Article Snip: "...Meanwhile, the roster of federal agencies offering buyouts or early outs continues to grow. In fiscal 2010, OPM gave 14 agencies permission to offer buyouts. Twelve were allowed to offer early retirements. In fiscal 2011, OPM gave 12 agencies permission to offer buyouts and twelve were allowed to offer early retirements...."

Reference: www.bizjournals.com
Federal Employee Buyouts, early outs,

Retirement services backlog being addressed

Title: OPM tackles retirement backlog with more staff, better technology

Article Snip: "...The Office of Personnel Management is trying to tackle its retirement services backlog with more staff and upgraded technology. ..."

Reference: www.federalnewsradio.com

State Department warns that "concrete steps" must be taken...

Title: US mulls closing embassy in Syria as security worsens

Article Snip: "...
State Department warns that "concrete steps" must be taken, expresses concern about "deteriorating security situation in Damascus"; US official: Syrian gov't doesn't ..."

Reference: www.jpost.com

Federal Employee COLA Update

Title: 2012 outlook eases slightly with COLA’s return

Article Snip: "...After two years of no increases, COLAs are back. The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 3.6 percent...."

Reference: federaltimes.com

Federal retirement question

Title: Four retirement options

Article Snip: "...Q. I am a 58-year-old letter carrier covered under the Federal Employees Retirement System with 27½ years of s..."

Reference: federaltimes.com