2023 Federal Pay Raise is Largest in 20 Years Federal employees are getting the largest pay raise in about 20 years in 2023. Many were anxious to find out what the pay raise in 2023 would be in light of rampant inflation in 2022 and a sharp increase in 2023 FEHB premiums. Many FedSmith readers expressed frustration […]
2022 TSP fund performance was dismal. One TSP stock fund was down 26%. What happened after the last significant yearly loss? 2022 TSP Fund Performance Went from Bad to Worse. As 2022 comes to a close, many Thrift Savings Plan (TSP) investors will be glad to see this year come to an end as it […]
There is late breaking tax & retirement planning news: The Secure Act 2.0 has been approved by Congress and is awaiting President Biden’s signature into law. This new law expands upon The Secure Act 1.0 which was approved in December of 2019. Some of the highlights are: Extended the RMD age to age 73 Reduced […]
Taking the wrong step could be costly. Public sector workers with a Thrift Saving Plan (TSP) may be tempted to move their retirement funds elsewhere. TSPs, though generally great products, aren’t flawless and tend to lose their appeal once the participant’s days as a federal employee are over. A popular option is to move accumulated […]
If you retired and are considering going back to work for the government, you could boost your annuity—perhaps substantially. Unless you are one of the few who will be able to keep both your annuity and the full salary of your new position, what happens depends on whether your retirement was voluntary or involuntary and […]