Social Security Figures Rise
The Social Security withholding “FICA” tax of 6.2 percent will to apply to salary up to $127,200, up from the 2016 maximum of $118,500. Read more
OPM Provides Fact Sheet on Complying with Minimum Health Insurance Guidelines Under FEHB (by Ian Smith)
OPM has released a fact sheet with information for federal employees on Internal Revenue Service (IRS) Form 1095-C that federal workers receive from their agencies and Shared Service Centers (SSCs) concerning their Federal Employees Health Benefits (FEHB) coverage. Read more
New Buyout Max at DoD; Will Other Agencies Follow? (by Ralph R. Smith)
Whether an event is a good thing depends on the self-interest of those who are impacted.
Here is an example. President-elect Trump has indicated there will be a hiring freeze early in his administration. For those who were hoping to be hired by the federal government, that is bad news. Read more
Report Ranks Best and Worst Agencies for Federal Employees (by Joe Davidson)
Just in time for the holidays comes the “Best Places to Work in the Federal Government” report, filled with good tidings and bad news for federal agencies.
The annual report is awaited each year by top officials who want to look good and avoid embarrassment. That makes sense, because the ratings are a reflection on their leadership. But more than simply showing who is up and who is down, the Best Places report slices and dices data to show why employees are engaged in their work or not. Engagement pays off in productivity and service to the public. Used properly, the report is a workforce road map, providing signs on how to improve employee morale. Read more
Your Three Basic TSP Withdrawal Choices
The Thrift Savings Plan does not give you a lot of choices as to how to withdraw your money after you separate from federal service. In general, employer-sponsored plans such as the TSP do not offer the flexibility in withdrawal options that you will find in an IRA. Read more