Wait times on the customer service number for the federal government’s 401(k)-style retirement savings plan are down from over two hours to 15 minutes on average. Officials with the federal government’s 401(k)-style retirement savings plan said Tuesday that there is light at the end of the tunnel that is the Thrift Savings Plan’s troubled transition […]
The federal government offers a different option to its employees to save for retirement than private companies. The Thrift Savings Plan (TSP) is very similar to popular plans found in the private sector, allowing for pre-tax contributions, employer matches, and long-term earning potential in a variety of funds. But it has some unique options that […]
Congresswoman Eleanor Holmes Norton (D-DC) today spoke with the Executive Director of the Federal Retirement Thrift Investment Board (FRTIB), which manages the Thrift Savings Plan (TSP), to discuss the many ongoing problems with the new TSP online system. In the meeting, FRTIB Executive Director Ravindra Deo committed to sending weekly updates on the system to […]
Some money experts have said that 2022 is a dangerous year to retire, but what if you need to? Here are five things to consider. SAINT LOUIS, Mo. — With inflation, rising rates, and a financial crisis, some people are worried about retiring right now. In fact, even as more Americans receive pay raises, the […]
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 […]