Despite a slowing rate of return, last month still marked the third consecutive month in which all portfolios in the Thrift Savings Plan all increased in value.
Civil Service Retirement System retirees will see a 2.8% increase to their defined-benefit annuities next year, compared to just a 2% bump for Federal Employees Retirement System annuitants.
The government shutdown has raised lots of questions about the retirement process, and retirement benefits, for federal employees while agencies remain closed. Here are some of the most pressing answers.
Children can stay on a parent’s FEHB or PSHB plan until 26, but understanding the 31-day extension, conversion options and Temporary Continuation of Coverage is key to avoiding gaps.
The OPM director uses his weekly updates to detail efforts to replace paper applications, guide employees through the Online Retirement Application system, and address delays and data issues in retirement processing.
The Emergency Relief for Federal Workers Act would clarify that lapses in appropriations qualify federal workers to take a hardship withdrawal from the federal government’s 401(k)-style retirement savings program and eliminate the associated 10% penalty in those instances.
A new online retirement system, coupled with record summer claim volumes, has created delays and confusion for federal employees transitioning to annuitant status, even as OPM works to streamline processing and reduce errors.
A sweeping proposal could extend Federal Employees Retirement System–level pensions to the private sector, reshaping how Americans plan for retirement.
From hurricane preparedness to policy reform, history shows how learning from past challenges can shape a stronger Social Security system moving forward.
While domestic investments in the federal government’s 401(k)-style retirement savings program posted gains last month, its international fund faltered.
More than 1,300 CBP officers spent more than a decade contributing toward their retirement annuities for which they were not eligible, due to a mistake the agency made in 2008.