Title: Tax Issues You Could Face in Retirement
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.govTitle: 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.comTitle: 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 RetireeTitle: 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..."
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.comTitle: 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.comTitle: 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.comTitle: 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.comTitle: 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.comTitle: Special retirement supplement
Article Snip: "...You can estimate the amount of the special retirement supplement by using the following formula..."
Reference: federaltimes.comTitle: 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.comTitle: 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 UnionTitle: 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.comTitle: 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.comTitle: 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: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.comTitle: 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.comTitle: 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.comArticle Snip: "...For example, very few knew the number of years of highest earnings that are used to calculate benefits...."
Reference: www.aarp.org