How Some People Escape The Steep Medicare Surcharge on Premiums Known as IRMAA “Our federal health benefit program started in 1960 and Medicare didn’t start until 1965, so we always had lifetime coverage as federal retirees,” explained Tammy Flanagan, principal of the Retire Federal consulting firm in Bradenton, Fla. “The majority of federal retiree still […]
TSP Account Averages Now About The Same As Before Declines Of 2022 Strong gains in the stock-based TSP funds in 2023 pushed the average account for federal employees and retirees back to roughly the levels before the losses of 2022, with the average $175,700 for those under FERS and $197,300 for those under CSRS at […]
Some 2024 changes that may benefit federal employees and retirees. It’s a new year and there are new benefit amounts that take effect at the beginning of each year as well as basic pay adjustments for federal workers under the General Schedule and cost of living adjustments for retirees. For most feds, there are changes […]
The Postal Service Health Benefits (PSHB) Program is a new, separate program within the Federal Employees Health Benefits (FEHB) Program, administered by the Office of Personnel Management (OPM) which will provide health insurance to eligible Postal Service employees, Postal Service annuitants, and their eligible family members starting in 2025. The PSHB Program coverage will replace Federal Employees […]
How To Max Out Your 401k In 2024: New Rules Make It Easier For 2024, the limit for 401(k) plan contributions is $23,000, up from $22,500 last year, according to the IRS. That limit also applies to 457, 403(b) and the federal government’s Thrift Savings Plan. Click HERE to read more.