Hefty Hikes in the Federal Long Term Care Insurance Program (FLTCIP) are getting lots of attention from federal employee advocacy groups and lawmakers. Two good articles that explain why this added attention is being focused on the FLTCIP are: “Anger Amounts Over Long Term Care Premium Spike”, written by the GovExec Staff, and “House Committee Asks John Hancock Financial for Details on FLTCIP Premium Increases”, by Ian Smith. Make sure to read the articles above and to stay informed!
The Phased Retirement Plan, which was introduced in 2012, allows employees who are eligible for retirement to work part-time. This would allow them to receive half of the annuity that they have earned to that point, while still being treated like an employee as apposed to a retiree. Phased Retirement sounds all well and good, until you look at the rate at which federal employees are actually receiving it. For a retirement option that has been praised so highly by the government, it is sure taking quite some time for it to be put into motion. Why is this? When will this change? Read more
Recently, Government Executive’s research unit, the Government Business Council, conducted an in-depth research study of federal employees. The results revealed some interesting trends.
Most of the people who responded to the survey (68 percent) were planning to retire within the next five years, with another 25 percent saying they were likely to leave government within the next 15 years. These are typical of the audiences I address at pre-retirement or mid-career planning seminars. Nearly 900 people took the survey, representing more than 30 civilian federal agencies and defense organizations. Read more
|OPM has silently changed the way that they process divorce court orders. If you have been divorced, and a portion of your annuity was awarded to your former spouse, YOU MUST READ THIS.|
Planning for Long Term Care is such an important component of your retirement plan. However, the continual rate increases of the Federal Long Term Care Insurance Program are a major cause of concern among federal employees. Enrollees are facing an average increase of 83% in 2016. Read more