...providing retirement news snippets from various sources for federal employees, postal employees, seniors, veterans, and people with disabilities who receive Social Security . Your resource for retirement living, investment, employment, health care, and retirement leisure. - Stay Informed!
Title: Maybe we need more Social Security, not less
Article Snip: "...The bill enables our government to borrow yet more billions of dollars. At the same time, it eliminates the ability of some to use the many rules of Social Security to squeeze out a few more bucks in benefits..."
Reference: www.mystatesman.comArticle Snip: "...On Thursday, Sen. Elizabeth Warren (D-MA) introduced S. 2251, the Seniors and Veterans Emergency Benefits Act. The bill would provide a one-time payment in 2016 to Social Security beneficiaries, veterans, and others of $581, or 3.9% of the average Social Security retirement benefit. The legislation would not only help current retirees, but also make an important statement about fairness. Last year the average CEO pay increase was 3.9%, while retirees and people with disabilities will be going without any cost-of-living adjustment in 2016..."
Reference: www.apwu.orgTitle: Don’t Forget to ‘Turn On’ Your Benefits
Article Snip: "...what steps federal employees need to take to receive their benefits after retirement. As with most questions in life, the answer can be complex. Once an employee determines they are eligible for retirement..."
Reference: www.govexec.comTitle: FEHB and FEGLI Benefits on Retirement
Article Snip: "...a larger question that readers keep asking me. “If I leave government on an immediate, postponed, deferred or disability annuity, will I be able to continue my Federal Employees Health Benefits coverage? And while you’re at it, I have the same question about my Federal Employees’ Group Life Insurance coverage.”..."
Reference: www.fedweek.comTitle: FAQ on Social Security COLAs: AARP shares what, when, how, why
Article Snip: "...COLAs currently understate the cost of living for the elderly, because they are based on increases in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which only measures the spending of families who make most of their income from wage earners or clerical workers. It excludes families whose main sources of income are pensions and Social Security..."
Reference: www.usatoday.comTitle: Mike Huckabee Speaks Out on Social Security
Article Snip: "...Huckabee continued: And the government has squandered what they paid in, and there are some that think the answer to that is to just break the promises to Americans. I think that’s the wrong answer, because it isn’t workers’ faults that their money has been squandered..."
Reference: www.breitbart.comTitle: Feds Ask, ‘Where Can We Find Retirement Income Facts?’
Article Snip: "...Where can you find information about federal pensions? ...Where can I find info I need about my Social Security retirement income benefits?...How much should be put into the TSP?..."
Reference: www.fedsmith.comTitle: The Great Retirement Plan Every Federal Employee Should Use
Article Snip: "...the Thrift Savings Plan, or TSP for short. The TSP has many features that are similar to what a 401(k) offers, but it also gives federal workers key advantages over most 401(k) plans. Let's look more closely at the Thrift Savings Plan and what makes it such a great option for those who are eligible..."
Reference: www.fool.comTitle: Will You Be Forced To Pay Into Medicare?
Article Snip: "...Congress is considering a bill that would require postal retirees to enroll in Medicare Parts B and D or lose their Federal health insurance. Is this the future for all Federal retirees? Medicare is facing years of higher costs..."
Reference: www.fedsmith.comTitle: Social Security Loopholes
Article Snip: "...Had you simply saved and invested, you would probably be retiring as a multimillionaire. But because you were required to pay into Social Security, now you have to figure out how best to get back some of your money. Being aware of some Social Security loopholes will help you choose between options that differ by as much as a quarter of a million dollars ..."
Reference: www.emarotta.comTitle: Federal Employee Retirement Funds Tank in August
Article Snip: "...The government securities (G) fund was the only option that ended the month in the black, scraping by with 0.18 percent growth for August. That fund – one of TSP’s most stable offerings – was up 1.33 percent for the year to date..."
Reference: www.govexec.comTitle: Special Military Social Security Rate
Article Snip: "...The information that follows applies only to active duty military service earnings from 1940 through 2001. This program adds to your overall income factor..."
Reference: militaryvetnews.blogspot.comTitle: 10 secrets to get more from Social Security
Article Snip: "...There are more than 2,700 rules in Social Security's handbook. It's enough to make you want to give up on ever figuring out the best choices to make for your retirement. But if you do your homework and fully maximize your benefits..."
Reference: www.usatoday.comTitle: Can Bernie Sanders save retirement?
Article Snip: "...The self-described democratic socialist from Vermont – who is running for the Democrats' 2016 presidential nomination, although he is an independent – wants to not just preserve Social Security, but expand it. "We should not be talking about cutting Social Security benefits. We should be talking about expanding benefits to make sure that every American can retire with dignity," Sanders said recently in a statement accompanying a bill to increase Social Security benefits by $65 per month. ..."
Reference: www.usnews.comTitle: Bill Aims to Crack Down on Embezzlement of Federal Retirement Funds
Article Snip: "...federal workers rely on their savings and pensions which they worked hard for to retire with dignity,” said Heitkamp. “Most financial caregivers are loved ones who selflessly step in to manage the finances for retirees who are unable to do so, but we have heard about a few bad actors who are stealing that money from retirees. Such harsh actions deserve harsh punishments. Our bipartisan bill would help deter these activities by imposing criminal penalties on financial caregivers..."
Reference: www.fedsmith.comTitle: The Alliance Releases Annual Congressional Voting Record
Article Snip: "...On Tuesday, the Alliance released its annual report detailing the voting record of every U.S. Representative and Senator on issues important to current and future retirees. ..."
Reference: www.apwu.orgTitle: HR 2146 - Defending Public Safety Employees' Retirement Act
Article Snip: "...The proposed bill amends the Internal Revenue Code, with respect to the exemption from the 10% penalty tax on early distributions from a government retirement plan for qualified public safety employees who have reached age 50, to expand the exemption to include specified federal law enforcement officers, customs and border protection officers, federal firefighters, and air traffic controllers who similarly have reached age 50. ..."
Reference: www.washingtonpost.comTitle: Senators Seek Clarity on Federal Retirement Thrift Investment Board Programs’ Cyber Integrity
Article Snip: "...recent reports suggest that the Board may have significant weaknesses in its networks,” the Senators wrote. The Department of Labor Employee Benefits Security Administration has said that it has had difficulty accessing the Board’s networks in order to conduct a compliance audit, which is required by law. “Independent assessment is an essential part of any organization’s cyber risk management program,” the Senators wrote. “We urge you to allow the auditors to conduct the necessary penetration testing..."
Reference: www.hsgac.senate.govTitle: New budget proposal drops federal benefit cuts
Article Snip: "...The House budget included proposals to 10 percent through attrition and increase Postal Service employee contributions to their health insurance premiums as well as decreases the rate of return on the Thrift Savings Plan's government securities fund (G Fund) and encourages the elimination of the Federal Employee Retirement System annuity supplement. None of those proposals made it into the final version..."
Reference: www.federaltimes.comTitle: Social Security Credit for Military Service
Article Snip: "...If you are a FERS or CSRS-Offset employee, the military-related Social Security time could increase the Social Security benefit you already stand to receive. In either case, be sure that military service time is included in any benefit payments if you are already retired or benefit projections if you are still actively employed...."
Reference: www.fedweek.comTitle: Medicare
Article Snip: "...There are 2 main ways to get your Medicare coverage— Original Medicare or a Medicare Advantage Plan (like an HMO or PPO). Some people get additional coverage, like Medicare prescription drug coverage or Medicare Supplement Insurance (Medigap). Learn about these coverage choices and 3 steps to help you decide how to get your coverage...."
Reference: www.medicare.govTitle: With a ‘Golden Parachute’ in Hand, Donahoe Opposes Retirement for Young Workers
Article Snip: "...apparently Donahoe’s views have nothing to do with the Postal Service’s manufactured “financial crisis.” He opposes government pensions on principle and wants to impose his view to the entire federal government. “I would encourage Congress to view the Postal Service as a test bed or laboratory of change that might be applied to the rest of the federal government,” he said. “I’d like to see the Congress encourage much more experimentation at the federal level,” Donahoe added. “The Postal Service has the kind of management that would appreciate being at the front edge of change and would make good use of opportunities.” APWU President Mark Dimondstein denounced Donahoe’s parting shot at young workers. “Donahoe’s remarks are the height of hypocrisy,” the union president said. “Every worker should be able to look forward to a stable, secure retirement.” ..."
Reference: www.apwu.orgTitle: 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.comTitle: 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.comTitle: 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.comeverify Social Security Lock | Protect Yourself From The Foreign Invasion Snippet of Article: "...Self Lock is the unique feature...