2025 COLA Estimate for Social Security, FERS, and CSRS 

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2025 COLA Estimate for Social Security, FERS, and CSRS 

After an 8.7% COLA in 2023 and a 3.2% adjustment in 2024, the downward trend is expected to continue for Social Security’s 2025 COLA. Current estimates predict 2.4%.

Retired federal employees receiving a CSRS pension receive the same cost-of-living adjustment (COLA) as recipients of Social Security retirement benefits. It is calculated by looking at inflation numbers for the months of July, August, and September as indicated by the CPI-W index. The average of those three numbers results in the COLA. For FERS retirees, the COLA might be slightly less. Follow link to read more. https://bit.ly/3VLVdpr

TSP Issues Guidance on Upcoming Rise in Catch-Up Limits for Some 

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TSP Issues Guidance on Upcoming Rise in Catch-Up Limits for Some 

As before, investments will automatically “spill over” into catch-up status once the standard limit is reached. 

The TSP has said it will issue notices later this year to account holders who will be eligible to make additional investments beyond the normal limits starting in 2025 under the Secure 2.0 Act.

If the adjustment is more than 3%, FERS pensions are adjusted by the CSRS COLA minus 1. So in 2024, when the Social Security COLA was 3.2%, the COLA for FERS was 2.2%. Follow link to read more. https://bit.ly/3VRhTEZ

Survey Finds Not All Agencies Comply with Personal Assistance Services Requirements

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Survey Finds Not All Agencies Comply with Personal Assistance Services Requirements

A survey by the EEOC has found that a tenth of federal agencies are not in compliance with requirements to provide personal assistance services to employees who qualify for such services under the Rehabilitation Act. Follow link to find out more. https://bit.ly/4as8Ein

 

OPM: Workforce of the Future Initiative

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OPM: Workforce of the Future Initiative 

As our world changes, so do the jobs, skills, and technology federal agencies need to achieve their missions and serve the public.

OPM’s Federal Workforce of the Future initiative lays the foundation for the Federal government to be recognized as a model employer that empowers our workforce to solve our nation’s toughest challenges. OPM strives to be a key strategic partner to agencies, adopting new or modifying existing policies, bringing a government-wide perspective, working with employers inside and outside of government, identifying and elevating best practices, and providing technical and operational support to drive mission delivery now and in the future.

The Workforce of the Future Playbook supports a federal workforce that is inclusive, agile, and engaged, and equipped with the right skills to deliver for the American people. The Playbook provides concrete actions that agencies can take to build and equip the workforce of the future, incorporating new strategies and sharing best practices across government. See our latest trainings.

              

 

Federal Retirees Especially Have To Pay Attention To Their Debt Profiles

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Federal Retirees Especially Have To Pay Attention To Their Debt Profiles

Not all debt is evil if you manage it correctly. Retired federal manager Abe Grungold of AG Financial Services offers advice.

What’s the old saying? Never a lender nor debtor be? For most of us, no problem not being a lender. But for buying a house or a car — that entails taking on debt for the average working stiff. Not all debt is evil if you manage it correctly. Retired federal manager Abe Grungold of AG Financial Services joined the Federal Drive with Tom Temin with some advice. Follow link to read more. https://bit.ly/4ajr6tt