Maximizing Federal Retirement Benefits and Perks for Federal Employees

Title: 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.com

You will be penalized if you enroll in Medicare outside of your eligibility period

Title: Medicare Enrollment

Article Snip: "...You are eligible to enroll in Medicare three months before you turn 65, the month of your 65th birthday, and three months after the month you turn 65. You will be penalized if you enroll outside of your eligibility period and your options to enroll will be limited. If you miss your eligibility window, you may sign up only during the general enrollment period at the beginning of the year, with few exceptions. And, if Social Security records reflect that you have enrolled late, you will be required to pay a penalty in addition to the monthly premium. The penalty for enrolling late is 10 percent for each year you delay enrollment in Medicare Part B. For most USPS retirees, the premium for Medicare Part B for 2015 is $104.90. Medicare B covers medically-necessary services from doctors and other health care providers, ambulance services, outpatient care, home health care, and some preventative services. For a complete list of covered services, visit www.Medicare.gov. Medicare Part A covers hospitalization and it’s free because you paid for it while you worked for the Postal Service...."

Reference: www.apwu.org

Am I next? 'Cromnibus' legislation sneaks in pension cuts for some

Title: What Retirees Need to Know about the New Federal Pension Rules

Article Snip: "...The last-minute deal to allow retiree pension benefit cuts as part of the federal spending bill for 2015 passed by Congress last week has set off shock waves in the U.S. retirement system...."

Reference: time.com
Federal Pension Rules, federal spending bill, Cromnibus,

Federal worker retirees to see 1.7% COLA increase in the January 2, 2015 checks

Title: Holiday Greetings from Retirement Services!

Article Snip: "...Federal retirees and survivors will receive a 1.7% Cost-of-Living adjustment (COLA) effective December 1, 2014. You will see the increase in the January 2, 2015, payment. ..."

Reference: www2.opm.gov
COLA 2015, COLA 2014,

Social Security Retirement Benefits (Source: www.socialsecurity.gov)

Title: Social Security Retirement Benefits

Photo: www.socialsecurity.gov

Article Snip: "...www.socialsecurity.gov , is a valuable resource for information about all of Social Security’s programs...."
Reference: www.socialsecurity.gov
Social Security Retirement Benefits

Social Security Payments to Increase in 2015

Title: Social Security payments will increase 1.7 percent for retirees in 2015

2015 Social Security Increase

Article Snip: "...Social Security payments for 64 million retired American workers will increase 1.7 percent in 2015. That means the typical retiree will get an extra $22 per month, receiving a $1,328 average monthly Social Security payment and $15,936 annually...."
Reference: www.csmonitor.com
2015 Social Security Increase

How to Make Early Retirement a Reality

Title: How to Make Early Retirement a Reality

Article Snip: "...Despite the total cost of a couple’s healthcare in their last 20 years being $215,000, the average savings of a 50-year-old is less than $44,000 – which equates to a total of $88,000 for retirement between a couple. This is far less than enough to cover half of the medical bills they will receive between age 65 and 85, and does not begin to account for housing, food, or any of the other necessities of a comfortable life..."

Reference: www.fedsmith.com

A Must Read: Planning For Long-Term Care For Dummies

Title: Planning For Long-Term Care For Dummies

Long-Term Care Planning (Amazon)

Article Snip: "...As we live longer and healthier lives, planning for the long term has never been more important. Planning gives you more control, but it’s not easy to find accurate information and answers to your questions. That’s where AARP’s Planning For Long-Term Care For Dummies (For Dummies (Business & Personal Finance)) comes in. This comprehensive guide gives you questions to ask yourself and others about how best to achieve your goals, whether you have immediate needs or can take some time to sort out the possibilities. The book Covers home modifications so that you can stay at home safely for as long as you like Lays out the opportunities and costs associated with independent living, assisted living, and other options Gives you a range of driving and transportation alternatives Sorts out the various sources of care at home Helps you navigate the healthcare system Reviews the legal documents you should prepare and update Helps you determine whether you need long-term care insurance Offers checklists and other resources to help you make decisions Gives you guidance on how to talk to your family about sensitive issues If you're looking for trusted information on how to prepare for the future care needs for yourself or a relative, this sensitive, realistic, and authoritative guide will start you on the right road...."
Reference: Amazon

Is my Social Security check fair?

Title: Is my Social Security check fair?

Article Snip: "...A widow(er) who has contributed to the Social Security system for years could lose his or her benefits if spousal benefits are higher than his or her own retirement benefit. Is that fair, readers ask..."

Reference: www.pbs.org

Retirement saving is a low priority for the 36% of Americans living paycheck to paycheck

Title: Why one-third of Americans aren't saving for retirement

Article Snip: "...a significant swath of those on the cusp of retirement haven't put anything away, including 14 percent Americans 65 and older and over a quarter (26 percent) of Americans between ages 50 and 64. ..."

Reference: www.csmonitor.com

My Social Security Account: get online Social Security Statement, review lifetime earnings history, see estimates of your future benefits

Title: Sign up for a my Social Security Account

Article Snip: "...One of the best tools for planning a secure retirement is waiting for you at www.socialsecurity.gov: a my Social Security account. When you create your personal my Social Security online account, you will be able to get your online Social Security Statement, review your lifetime earnings history (and catch any errors while it is easier to fix them), see estimates of your future benefits, and more—important information that can help you plan and save for greater peace of mind. Opening a my Social Security account online is quick, safe, free, and easy. It takes only minutes. Go to the Social Security website at www.socialsecurity.gov and click on my Social Security...."

Reference: blog.usa.gov

Federal retirees are currently due a January 2015 cost-of-living adjustment of about 1.35 percent

Title: Guess who's going up 1.35 percent?

2015 Retiree COLA Update

Article Snip: "...Each year when the retiree COLA exceeds the federal pay raise, many working stiffs figure they will retire at the end of the year to get the higher COLA. Doesn't work that way. The COLA is pro-rated (on a monthly basis) based on how long you've been retired. So you can't retire a month or two before the COLA kicks in and qualify for it. +..."
Reference: www.federalnewsradio.com

Best and worst states for military retirees

Title: 10 Best and Worst States for Military Retirees

Article Snip: "...when searching for the best place to retire from the Armed Forces, there are several economic, social, and health care factors for a veteran to take into account. WalletHub, a personal-finance network, this week released a survey ranking the states and the District of Columbia as places for military retirement..."
Reference: military-retirement.blogspot.com

FERS Annuity Supplement

Title: How Much is the Maximum Annuity Supplement?

Article Snip: "...The procedure for calculating the supplement is clearly spelled out in Chapter 51 of the CSRS & FERS Handbook. However, the explanation and instructions are 40+ pages in length. Summarized, you must..."

Reference: www.fedsmith.com
FERS Annuity Supplement,

CSRS vs FERS: some better off than others

Title: You May Be Better Off Than You Think

Article Snip: "...Under FERS, 40 years of service (I know, no one has this much service under FERS yet), would provide either 40 percent or 44 percent (if you’re 62 or older with more than 20 years of service) of your high-three. In addition, you’ll be entitled to Social Security or the FERS Supplement...."

Reference: www.govexec.com
FERS Special Retirement Supplement, Social Security, CSRS vs FERS,

Chuck Hagel Proposes Military Retirees Pay More

Hagel wants you to pay more

Title: DoD proposes deepest compensation cuts in all-volunteer era

Article Snip: "...Changes are also coming to Tricare. “We will ask retirees and some active-duty family members to pay a little more in their deductibles and co-pays,” Hagel said...."
Reference: militaryvetnews.blogspot.com
military retirees, Tricare,

Save us from Social Security cut! Send a quick message please

Title: No Chained CPI

Article Snip: "...We cannot break our promise to our seniors. These are benefits they earned over a lifetime. Our parents and grandparents put their faith in us, and we will not let them down. Please use this link to send a message to the president...."
Reference: ourfuture.org
Chained CPI

Military retirees slammed in bipartisan budget, thank you for your service

Title: Military Retirement Cuts: Prelude To Coming Social Security Changes

Article Snip: "...bipartisan budget that scales back cost of living adjustments for working age military retirees starting in 2015. Several sources including Military.com suggests that qualified participants could lose between..."

Reference: www.forbes.com

Kaiser recognized for FEHB federal employee health plans

Title: Kaiser recognized for federal employee health plans

Article Snip: "...Kaiser Permanente Hawaii’s health care plan for federal employees has been recognized as “Exemplary,” the highest possible rating, by the U.S. Office of Personnel Management, administrator of the Federal Employee Health Benefit Program...."

Reference: westhawaiitoday.com
Kaiser Permanente

Corporate lobbies using deficit fear-mongering to sell Social Security benefit cuts

Title: CEOs with Massive Retirement Fortunes Push Social Security Cuts

Article Snip: "...largely behind the scenes: Business Roundtable and Fix the Debt, corporate lobbies that use deficit fear-mongering to sell benefit cuts. These groups are made up of CEOs of America’s largest corporations—people with retirement accounts that are more than 1,000 times as large as those of the average Social Security beneficiary...."

Reference: www.thenation.com
attacks on Social Security