...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: Bill Would Standardize Federal Retiree Annual Increases, and More
Article Snip: "...The Equal COLA Act (H.R. 304), introduced by Rep. Gerry Connolly, D-Va., would ensure that federal retirees in the Federal Employee Retirement System and the Civil Service Retirement System both receive the same annual percentage cost of living increase each year..."
Reference: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.comTitle: 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.comTitle: Lawmaker urges end to early federal retirement
Article Snip: "...Federal workers, including members of Congress and congressional employees, would not be able to receive their pensions until age 62 under Duncan's proposal...."
Reference: www.govexec.comTitle: Federal Workers Facing More Cuts
Article Snip: "...In March, Senate Republicans Richard Burr and Tom Coburn introduced legislation that would entirely eliminate pensions for government employees. They would still collect Social Security and hold 401k-style accounts.
The White House is unlikely to back such an aggressive plan..."
Reference: www.kctv5.com
Title: Higher federal withholding is taking a bite out of retirees' annuity checks
Article Snip: "...The suddenly shrinking checks have hit retirees generally, not just those who were employed by the federal government. On Thursday, the IRS posted information on "Why Employees and Retirees May See Changes in 2011 Payments and Withholding." ..."
Reference: www.washingtonpost.com
Title: Better job applicants, hired faster, is OPM goal
Article Snip: "...To improve the processing of retirement claims, Berry asked for additional staff to allow OPM to reduce claims processing from 45 to 40 days in 2011 and 38 days in 2012. Berry also wants to continue automating the retirement..."
Reference: fredericksburg.com
Title: West Frankfort sentenced for fraudulently collecting retirement benefits
Article Snip: "...woman to prison for fraudulently collecting her dead father's federal employee retirement benefits for 13 years...."
Reference: www.fox2now.com
Title: The FERS Special Retirement Supplement (and Special Category Employees)
Article Snip: "...Here is how the SRS is computed for a retiree whose MRA is age 56 and who retires under FERS with 30 years of civilian service and an estimated age 62 Social Security benefit of $1200 a month. ..."
Reference: www.fedsmith.com
everify Social Security Lock | Protect Yourself From The Foreign Invasion Snippet of Article: "...Self Lock is the unique feature...