The Thrift Savings Plan has huge advantages for participants.

Title: The Great Retirement Plan Every Federal Employee Should Use

Article Snip: "...the Thrift Savings Plan, or TSP for short. The TSP has many features that are similar to what a 401(k) offers, but it also gives federal workers key advantages over most 401(k) plans. Let's look more closely at the Thrift Savings Plan and what makes it such a great option for those who are eligible..."

Reference: www.fool.com
TSP

Will You Be Forced To Pay Into Medicare?

Title: Will You Be Forced To Pay Into Medicare?

Article Snip: "...Congress is considering a bill that would require postal retirees to enroll in Medicare Parts B and D or lose their Federal health insurance. Is this the future for all Federal retirees? Medicare is facing years of higher costs..."

Reference: www.fedsmith.com

Social Security Loopholes

Title: Social Security Loopholes

Article Snip: "...Had you simply saved and invested, you would probably be retiring as a multimillionaire. But because you were required to pay into Social Security, now you have to figure out how best to get back some of your money. Being aware of some Social Security loopholes will help you choose between options that differ by as much as a quarter of a million dollars ..."

Reference: www.emarotta.com

Federal Employee Retirement Funds Tank in August

Title: Federal Employee Retirement Funds Tank in August

Article Snip: "...The government securities (G) fund was the only option that ended the month in the black, scraping by with 0.18 percent growth for August. That fund – one of TSP’s most stable offerings – was up 1.33 percent for the year to date..."

Reference: www.govexec.com

Special Military Social Security Rate

Title: Special Military Social Security Rate

Article Snip: "...The information that follows applies only to active duty military service earnings from 1940 through 2001. This program adds to your overall income factor..."

Reference: militaryvetnews.blogspot.com
Social Security Income Factor, calculating social security, social security, Extra Earnings for Military Service,

10 secrets to get more from Social Security

Title: 10 secrets to get more from Social Security

Article Snip: "...There are more than 2,700 rules in Social Security's handbook. It's enough to make you want to give up on ever figuring out the best choices to make for your retirement. But if you do your homework and fully maximize your benefits..."

Reference: www.usatoday.com

Bernie Sanders wants to increase your Social Security check

Title: Can Bernie Sanders save retirement?

Article Snip: "...The self-described democratic socialist from Vermont – who is running for the Democrats' 2016 presidential nomination, although he is an independent – wants to not just preserve Social Security, but expand it. "We should not be talking about cutting Social Security benefits. We should be talking about expanding benefits to make sure that every American can retire with dignity," Sanders said recently in a statement accompanying a bill to increase Social Security benefits by $65 per month. ..."

Reference: www.usnews.com

Representative Payee Fraud Prevention Act of 2015 (S. 1576) is meant to protect federal retirees

Title: Bill Aims to Crack Down on Embezzlement of Federal Retirement Funds

Article Snip: "...federal workers rely on their savings and pensions which they worked hard for to retire with dignity,” said Heitkamp. “Most financial caregivers are loved ones who selflessly step in to manage the finances for retirees who are unable to do so, but we have heard about a few bad actors who are stealing that money from retirees. Such harsh actions deserve harsh punishments. Our bipartisan bill would help deter these activities by imposing criminal penalties on financial caregivers..."

Reference: www.fedsmith.com
Representative Payee Fraud Prevention Act of 2015 (S. 1576),

Voting record of every U.S. Representative and Senator on issues important to current and future retirees

Title: The Alliance Releases Annual Congressional Voting Record

Article Snip: "...On Tuesday, the Alliance released its annual report detailing the voting record of every U.S. Representative and Senator on issues important to current and future retirees. ..."

Reference: www.apwu.org

Possible Exemption: 10% penalty tax on early distributions from Thrift Savings Plan for qualified public safety employees

Title: HR 2146 - Defending Public Safety Employees' Retirement Act

Article Snip: "...The proposed bill amends the Internal Revenue Code, with respect to the exemption from the 10% penalty tax on early distributions from a government retirement plan for qualified public safety employees who have reached age 50, to expand the exemption to include specified federal law enforcement officers, customs and border protection officers, federal firefighters, and air traffic controllers who similarly have reached age 50. ..."

Reference: www.washingtonpost.com
HR 2146

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,