President Joe Biden last week issued an executive order creating labor-management forums at federal agencies to promote better relationships between management and front-line workers.
The EO also requires agencies to work with the unions to create the plans for implementation that they have to submit to Office of Personnel Management (OPM). Click HERE to read more.
OPM Retirement Backlog Cut 6% in February
More retirement claims were processed in February which helped reduce the OPM retirement backlog.
The number of federal employees’ retirement claims processed last month rose sharply which helped to reduce the OPM retirement backlog from last month’s spike.
The Office of Personnel Management processed 10,025 retirement claims in February, 55% higher than in January. This helped to reduce the backlog by 6%, going from 20,822 at the end of January to 19,591 at the end of February. Click HERE to read more.
Is it Time To Get Rid of OPM?
COMMENTARY | One former House human resources official says it is.
On Feb. 6, in a stunning case of what Baseball Hall of Famer Yogi Berra once so eloquently referred to as “déjà vu all over again,” the Government Accountability Office released a report blasting the Office of Personnel Management — the U.S. government’s in-house human resources office, responsible for recruiting, benefits, payroll, and the overall management of the federal workforce — for its failure to address ongoing severe data management and security flaws, which continue to jeopardize both the personal data of federal employees in addition to the personal data of anyone who applies for a federal job using the USA Staffing/USA Jobs portal. Click HERE to read more.
Did You Know This About The TSP?
Learn a little more about the government’s 401(k)-style retirement plan.
The Thrift Savings Plan is the cornerstone of the Federal Employees Retirement System created in 1986. By understanding the key elements of the program, federal employees and uniformed service members can create a retirement plan that may be achieved sooner and be more comfortable thanks to the efforts made by the TSP to encourage new hires to take advantage of the retirement savings program starting on day one, by keeping all participants informed on ways to manage their TSP and making the most of changes that allow greater choice and options. Click HERE to read more.
Conversation With an Estate Planning Attorney
What Issues Do Families Face When a Loved Ones Passes Away?
It’s often brought up that the disbursement is unfair. Discrepancies from the past start to come into play that the estate planner was completely unaware existed. Without the head of the family around to quell these issues, families argue over the division of the estate.
Can We Change The Estate Plan to Cover These Expenses?
No, not while waiting for a death certificate. Nothing can be changed until the new ownership has transferred. Until then, it’s up to the family to figure out a way to manage the expenses during those first 30…45…60 days–the vacuum period. However, a Beneficiary Liquidity Plan® can be put into place before, to ensure money is available to the family during the vacuum period.
Talking About Sex Won’t Get You Pregnant…
Talking about dying won’t make you die.No one wants to talk about the end of their life. But prepared or not, it is still going to happen. And there will always be a cost associated with it whether it’s the simplest of cremations or the most traditional of funerals.
Having a Beneficiary Liquidity Plan® will give families peace of mind from the financial stress so they can focus on the hundreds of decisions that will need to be made.
Don’t take it from me. We interviewed a 3rd generation estate planning attorney whose family has over 100 years of experience. In episode five, we talk about the realities of the death process and how to prevent family fractures. Follow link for informative video. https://www.youtube.com/watch?v=xJZCQX0x1MA
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