OPM Faces Its First Test of Recent Retirement Processing Tweaks  

/in /by

OPM Faces Its First Test of Recent Retirement Processing Tweaks

The number of new retirement claims received by the federal government’s HR agency doubled in January, marking the start of the annual busy season.

The annual retirement surge is officially upon us, as the number of new claims doubled between December 2023 and last month, giving the Office of Personnel Management a chance to stress the efficacy of recent tweaks to the retirement process. Click HERE to read more.

 

Crafting Your Perfect Retirement Exit Strategy

/in /by

Crafting Your Perfect Retirement Exit Strategy

These pre-retirement tasks can help ensure a smooth transition.

Most of the work that I’ve done over the past 39 years has been assisting federal employees separate from federal employment and move into their life after retirement.

As you might expect, there are some employees who have a smooth transition and others hit a few roadblocks that slow down the process.  Click HERE to read more.

FERS Hits the Big 4-0: Has it Been That Long?

/in /by

FERS Hits the Big 4-0: Has it Been That Long? 

Today, FERS accounts for all but several percent of the federal workforce. It also probably accounts for the majority of retirees today. 

Since its beginning, the Federal Employees Retirement System has been known as the “new” system, in comparison with the “old” Civil Service Retirement System. Click HERE to find out more.

 

How Some People Escape The Steep Medicare Surcharge on Premiums Known as IRMAA

/in /by

How Some People Escape The Steep Medicare Surcharge on Premiums Known as IRMAA

“Our federal health benefit program started in 1960 and Medicare didn’t start until 1965, so we always had lifetime coverage as federal retirees,” explained Tammy Flanagan, principal of the Retire Federal consulting firm in Bradenton, Fla. “The majority of federal retiree still don’t have to take Medicare.” Click HERE to read more.

 

 

TSP Account Averages Now About The Same As Before Declines Of 2022

/in /by

TSP Account Averages Now About The Same As Before Declines Of 2022

Strong gains in the stock-based TSP funds in 2023 pushed the average account for federal employees and retirees back to roughly the levels before the losses of 2022, with the average $175,700 for those under FERS and $197,300 for those under CSRS at year-end 2023, according to figures released at the January meeting of the TSP governing board. Click HERE to read more.