Senators Seek Clarity on Federal Retirement Thrift Investment Board Programs’ Cyber Integrity

Title: 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.gov

House decides not to screw-over federal workers yet: New budget proposal drops federal benefit cuts

Title: 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.com
House budget

Social Security Credit for Military Service

Title: 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.com

Important Medicare Reminder! Three (3) months before your 65th birthday you should enroll in Medicare (If you qualify)

Title: 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.gov

Retiring PMG opposes government pensions on principle and wants to impose his view on the entire federal government

Title: 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.org

How Will My Retirement Be Calculated?

Title: 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.com
How Will My Retirement Be Calculated?

Stealth attack on Social Security

Title: 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.com
reallocation

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