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 […]
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 […]