Your 2025 COLA: Early Projection of 1.75% The 2025 COLA payment will be effective in January 2025. Here is an early projection and how it compares to recent years. Comparing Recent COLAs and Projecting 2025 COLA The annual cost of living adjustment (COLA) impacts federal retirees in two ways. Most federal employees are now covered […]
Survey: Most TSP Participants Lack Outside Savings But Confidence Ticks Up Close to 40% of survey participants report having private savings/investments to provide additional retirement income. Earlier this year we looked at the results of the Federal Retirement Thrift Investment Board’s 2023 financial wellness survey and some key findings. The survey was of TSP participants, both […]
What Went Wrong with the Launch of Thrift Savings Plan’s New Online System? Just over two years ago, the Thrift Savings Plan launched a new online system meant to modernize and improve users’ access to their federal retirement savings. But almost immediately after the system launched, users reported widespread problems accessing their retirement savings and […]
Pay Raise for Federal Employees Seems to be All But Ensured In today’s Federal Newscast, federal employees are one step closer to receiving the 2% pay raise the Biden administration proposed for fiscal 2025. Federal employees are one step closer to receiving the 2% pay raise the Biden administration proposed for fiscal 2025. The Senate […]
What Federal Retirees Can Do to Minimize Medicare Part B IRMAA Most federal retirees are eligible to receive a monthly Social Security retirement benefit, starting as early as age 62. Many retirees wait until at least their full retirement age (FRA) (currently, age 66 years and eight months for individuals born in 1958, will be […]