Lawmakers File Discharge Petition to Repeal Controversial Tax Rule Affecting Federal Retirees

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Lawmakers File Discharge Petition to Repeal Controversial Tax Rule Affecting Federal Retirees

The Social Security Fairness Act has broad bipartisan support both in Congress and among federal employee unions.

A bipartisan pair of lawmakers on Tuesday filed a discharge petition seeking to force a vote on the House floor on a measure that would eliminate a pair of controversial tax rules that reduce the retirement benefits of some ex-government workers.

Reps. Abigail Spanberger, D-Va., and Garret Graves, R-La., are the lead sponsors of the Social Security Fairness Act (H.R. 82), a measure introduced last year that would eliminate Social Security’s windfall elimination provision and government pension offset. Follow link to read more from Government Executive. https://bit.ly/3MIu3Ki

 

TSP Update for Month Ending August 2024

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TSP Update for Month Ending August 2024

My last monthly update was written when the market started in August with a few very volatile days. It is something of a déjà vu as I write this monthly recap. September is starting off on the wrong foot for many stock investors. As of this writing, all three stock funds are in the negative for September thus far. As weak economic data continues to cause concern to economists, investors are again wondering if this is the beginning of another market downturn or just another “buy the dip” opportunity that will quickly turn around. Follow link to read more from Serving Those Who Serve. https://stwserve.com/tsp-update-for-month-ending-august-2024/

 

The 2024 Presidential Debate

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The 2024 Presidential Debate

During last night’s debate, both candidates talked about their economic ideas, but neither laid out a plan for how they would pay for their proposals or how to tackle our $35 trillion national debt.

With interest costs on the debt on track to reach historic highs over the next decade, America’s fiscal future is a critical issue for our next president. As interest rises, it crowds out important public and private investments that can fuel economic growth. We already spend more on interest than on Medicaid or veterans’ benefits, and this fiscal year was the first in which interest costs surpassed what we spent on defense. Follow link to read more from The Peter G. Peterson Foundation. https://bit.ly/3zgEEsU

 

Navigating Federal Retirement Questions

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Navigating Federal Retirement Questions

 Source: FEDweek Staff

If your spouse is a federal employee or retiree as well, are you sure that you are that well prepared, should your spouse die first and you become the survivor?

 A long-time acquaintance reached out recently asking for help with some questions about federal retirement. As it turned out, there were a lot of questions.

The federal retiree husband of a relative had just died and when his widow started looking into potential benefits due to her, she quickly found herself at sea. She reached out to him as someone who “knows a little about the government” — there seems to be one with that designation in every family — because his job involved more contacts with more government agencies than most people experience. Follow link to read more. https://bit.ly/3z1m9IV

 

Federal Teleworkers to be Hit with Pay, Benefits Decreases?

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Federal Teleworkers to be Hit with Pay, Benefits Decreases?

Pressure is building in Congress to get more data on telework, adjust locality pay to reflect actual work location versus official duty station, and to reduce federal office space. 

Remote workers continue to be a vital part of the federal workforce, but if two bills recently introduced in the Senate are signed into law, federal telework employees could see both pay and retirement benefits decrease.

The Federal Employee Return to Work Act, introduced by Sen. Bill Cassidy, R-La., would exclude the grand majority of federal employees who telework at least one (1) day a week… Follow link to read more. https://bit.ly/3yQpVEK