What federal employees with a FERS pension are getting wrong about their TSP

Title: What federal employees with a FERS pension are getting wrong about their TSP

Article Snip: "...federal employee with 30 years of service and a $90,000 high-3 average salary receives only $27,000 annually under FERS —30% of pre-retirement income...The TSP no longer uses the G Fund as the default investment for most participants. Since 2015 for civilians and 2018 for uniformed service members, new enrollees are automatically placed in an age-appropriate Lifecycle (L) Fund. These funds hold a diversified mix of..."

Reference: www.msn.com
FERS, Tiny Federal Pension,Destruction of Retirees,Thrift Savings Plan (TSP),

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UPS Retirement | After 44 years, retired UPS driver still delivers for communities through service

Title: After 44 years, retired UPS driver still delivers for communities through service

Article Snip: "...“I spent two-thirds of my life at UPS … the reward at the end is a great lifestyle and a great pension” ...Service never stops: Greg founded Operation Ramp It Up while working as a UPS driver. Supported by The UPS Foundation and the Veterans of Foreign Wars (VFW) Foundation, his nonprofit installs wheelchair ramps to help people with mobility challenges gain independence at home. In 2022, Greg received UPS’s highest community service honor, the Jim Casey Community Service Award, in acknowledgement of his exceptional volunteer service.

In retirement, Greg is still active with Operation Ramp It Up"

Reference: ups.com
UPS Retirement, Operation Ramp It Up,

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Railroad Retirement | Bill to protect earned railroad retirement benefits introduced

Title: Bill to protect earned railroad retirement benefits introduced

Article Snip: "...U.S. Sens. Chris Coons (D-DE) and Josh Hawley (R-MO) have introduced legislation that would modernize federal law to protect earned railroad retirement benefits.

The Railroad Retirement Fairness Act would eliminate a provision to federal law that reduces railroad retirement payments for certain retirees and their spouses who continue working in non-railroad jobs after retirement. Currently, railroad retirees and their spouses face reductions..."

Reference: transportationtodaynews.com
Railroad Retirement

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Monthly Costs for Retirees: How Much You'll Likely Spend on Housing, Food, Transportation, and Health Care

Title: Monthly Costs for Retirees: How Much You'll Likely Spend on Housing, Food, Transportation, and Health Care

Article Snip: "... Comparison is often called the thief of joy, but for retirement planning, it can be a valuable tool, helping you understand how much you might need to save and spend in retirement to maintain your lifestyle.

According to the latest available federal data, which is from 2024, the total annual spending for individuals aged 65 and older in the U.S. averaged $61,432.1 This comes out to about $5,120 per month. By far the..."

Reference: www.investopedia.com
Monthly Costs for Retirees

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Retirement Gardening | First coffee of Spring on the back porch...

Title: Retirement Gardening | First coffee of Spring on the back porch...

Article Snip: "...First time I have sat outside and drank my coffee since last year. Even sharing the space with my old friend Chip Munkerson. ... See Much More"

Reference: ourwatergarden.blogspot.com
Retirement Life, Images of a Retiree Garden Life,

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Postal Service | See Photos of Your Mail Before It Arrives, Free

Title: Informed Delivery by USPS

Article Snip: "...Start your mornings with a preview of your day's USPS® mail and packages with Informed Delivery® notifications:

Get Daily Digest emails that preview your mail and packages scheduled to arrive soon.
See images of your incoming letter-sized mail (grayscale, address side only).
Track and manage your packages in one convenient place.
SIGN UP FOR FREE..."

Reference: www.usps.com
Informed Delivery by USPS

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New retirees' top regret: Not saving more money

Title: New retirees' top regret: Not saving more money

Article Snip: "...“The rising costs for essentials and healthcare have increased uncertainty and stress among retirees,” Kevin Jestice, president of Nationwide Retirement Solutions, told Yahoo Finance. “And they’ve had to be more conservative with spending compared to their pre-retirement expectations.”

When retirees were asked what advice they would give their younger selves, the answer was: “Assume you will need more money than you think, don’t assume you can work as long as you’d like, and don’t live beyond your means prior to retirement.”..."

Reference: finance.yahoo.com

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This is Insane | Inflation Has Nearly Bankrupted Retirees | How Can This Rip-Off Take Place?

Title: Social Security’s next COLA projection might not go as far as retirees hope

Article Snip: "...The Senior Citizens League projects the average monthly benefit would rise by just $56.69 in 2027..."

Reference: www.foxbusiness.com
WTF, This is Insane, Inflation Has Nearly Bankrupted Retirees, How Can This Rip-Off Take Place?, COLA Manipulation,Destruction of Retirees,

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Social Security Issues Major Warning to Retirees

Title: Social Security Issues Major Warning to Retirees

Article Snip: "...The Social Security Administration's warning to seniors came from the Office of the Inspector General. The OIG stated that there had been a "significant increase in government impostor scam emails" recently. These scams involve criminals pretending to be from the Social Security Administration and claiming that they are providing the recipient access to their Social Security statement. ..."

Reference: www.aol.com
Social Security Issues Major Warning to Retirees

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USPS halts pension contributions after warning of looming cash crisis

Title: USPS halts pension contributions after warning of looming cash crisis

Article Snip: "...Agency says the move will free up $2.5B this year...USPS emphasized that the pause will have no immediate impact on current or future retirees.

"There will not be any immediate detrimental impact to our current or future retirees if normal FERS cost payments are temporarily withheld," Postal Service Chief Financial Officer Luke Grossmann said. "

Reference: www.foxbusiness.com
*Emphasis Added
USPS vs. Postal Employees, Paying the Postal Service Bills With $2.5B in Pension Contributions, Pensions,

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Retired? Here’s when the IRS might take a closer look at your finances

Title: Retired? Here’s when the IRS might take a closer look at your finances

Article Snip: "...Failing to take required minimum distributions can trigger a 25% excise tax on the amount not withdrawn..."

Reference: www.foxbusiness.com
Required minimum distributions (RMD's),IRS,IRAs and 401(k) RMD's,

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Are Medicare Premiums Tax Deductible?

Title: Are Medicare Premiums Tax Deductible?

Article Snip: "...If you itemize on your return, they are — after all medical expenses pass a certain threshold ..."

Reference: www.aarp.org
Tax Deductible Medicare Premiums,

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Over 60 and Looking for Work? These 18 Companies Want You

Title: Over 60 and Looking for Work? These 18 Companies Want You

Article Snip: "...United States Postal Service | Neither rain, nor sleet, nor snow, nor hail prevents the mail from getting through, and your age won't stop you from a job with the United States Postal Service.

In fact, a 90-year-old postal worker in Los Angeles once made headlines for continuing his federal service and telling the media he has no plans to retire. ...Census Bureau | The U.S. Census Bureau collects, verifies, and organizes demographic data from millions of Americans every decade."

Reference: www.aol.com
Over 60 and Looking for Work?

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