What happens to money in a Health Care Flexible Spending Account (HCFSA), Limited Expense Health Care Flexible Spending Account (LEX HCFSA) and the dependent care flexible spending account (DCFSA) dollars after the benefit period? If I contribute $2,500 for the year and only use $1,500, what happens to the remaining $1000? Is FSAFEDS paperless reimbursement […]
The Office of Personnel Management’s backlog of federal retirement applications increased by about 17 percent in January reaching a total of 31,307. According to OPM, the agency received 13,266 new applications in January and processed 8,689 claims during the month. OPM’s Processing Time of Retirement Applications The monthly average time to process an application increased […]
According to reporting in Federal News Radio, the White House is wanting to propose a 2023 federal pay raise of 4.6% in their budget request to Congress. If approved, this would be the highest pay raise in 15 years. “The budget request is expected to go to Congress after the State of the Union, which […]
WEEKLY MARKET INSIGHTS – 1/31/2022 An exceptionally volatile week, marked by wide intraday price swings, whipsawed investors with stocks ending higher following a surge to the upside on the final trading day of the week. The Dow Jones Industrial Average rose 1.34%, while the Standard & Poor’s 500 gained 0.77%. The Nasdaq Composite index ended […]
Thanks to healthier lifestyles and advances in modern medicine, the worldwide population over age 65 is growing. In the past decade, the population of Americans aged 65 and older has grown 35%, and is expected to reach 94.7 million in 2060. As our nation ages, many Americans are turning their attention to caring for aging […]