Last week I went over the retirement eligibility rules for CSRS employees. This time I’ll focus on the ones for FERS employees. Not only do they include more retirement options than those available to CSRS employees, but they also have features that are unique to FERS. Immediate unreduced annuity As a FERS employee, you can […]
Senator Alex Padilla (D-CA) last month introduced legislation — the Equal COLA Act (S 4221) —that would guarantee federal retirees in the Federal Employee Retirement System (FERS) and the Civil Service Retirement System (CSRS) receive the same annual cost of living adjustment (COLA) each year. Under current law established in 1986, the following table summarizes […]
Biden’s pick to chair the federal government’s 401(k)-style retirement savings program’s board must go through a more arduous process. he Senate on Thursday confirmed by voice vote four of President Biden’s nominees to serve on the board of the agency that administers the federal government’s 401(k)-style retirement savings program, although one more nominee must undergo […]
The agency in charge of the Thrift Savings Plan added 185 new customer service representatives this week to try to handle record-high call volumes from participants. The Federal Retirement Thrift Investment Board plans to add even more staff as needed. That’s after a major update to TSP’s system on June 1 caused an influx of […]
Federal employees and retirees have reported problems with setting up new accounts for online access to the federal government’s 401(k)-style retirement savings program, and the agency’s call center has been deluged. Officials with the federal government’s 401(k)-style retirement savings program promised a variety of new features and improved functionality would accompany the Thrift Savings Plan’s […]