Federal Employee Information Partnership
The long-awaited Postal Reform Act has been signed by President Biden. The USPS was burdened a decade ago when congress required the postal service to “Pre-Fund” retirement FEHB into the future, beyond the horizon. The result was that the Postal Service was unable to make a profit, therefore faced a complete shutdown. There are many […]
Postal Reform Act, signed by Biden Apr 6, 2022 Read More »
Terry, from Atlanta writes: Can I Receive Passive Income While Collecting Social Security? A good question, one that has portions to it, let me clarify. Once you achieve Full Retirement Age (FRA) your Social Security is taxed as ordinary income, however, if you are drawing social security prior to FRA, then you may have some
Can I Receive Passive Income While Collecting Social Security? Read More »
If you are counting on converting from your Traditional TSP into a TSP Roth, I have some news for you… You cannot. TSP has no provision and indeed prevents anyone from converting the Traditional TSP to a ROTH. If this is important to you, you will have to transfer out of TSP into an IRA
TSP to ROTH Conversion Read More »
TSP Contributions The IRS has raised the standard investment limit for the TSP and other 401(k) type retirement savings plan to $20,500 for 2022, up from the current $19,500. The Catch-Up maximum has not been announced. ROTH contributions The maximum amount you can contribute to a Roth IRA for 2022 is $6,000 if you’re younger than
IRS Announces 2022 TSP Contributions Increase Read More »
When a federal employee or military personnel retire, the first question asked is “What health care provider will I need? These people have choices, which may not be totally clear to everyone, so let’s explore the options: Medicare Supplement insurance plans generally cover some or all of your out-of-pocket costs with Part A and Part
Medicare vs Tri-Care & FEHB Read More »
For the third time in the past three years, The Federal Retirement Fairness Act (H.R. 4268) is being introduced by Congressman Derek Kilmer (D-WA). It would ensure that federal employees who began their careers as temporary workers are granted the opportunity to make catch-up retirement contributions so that they can retire on time, otherwise they would have
The Federal Retirement Fairness Act (H.R. 4268) Read More »
Retirement is an exciting time, especially when you have all of the proper details squared away. However, it can also be frightening and full of uncertainty when you don’t know how to manage cash flow during federal retirement. During the months and years spent planning leading up to your retirement, you may find yourself with
How to Improve Cash Flow During Federal Retirement with an Annuity Read More »
The question of loss of retirement benefits due to involuntary termination has been asked of me about once or twice a year, however, recently, I have been asked at least 6 times this past month. This is occurring in many agencies. It seems the supervisors are restless. “I may be fired. Will I lose my
YOU’RE FIRED! Involuntary Termination And Your Retirement Benefits Read More »
As a government employee, your federal benefits are among some of the best in the United States. Not only do you get comprehensive health coverage, but you’re also eligible for low to no cost life insurance, flexible spending accounts, and a host of other benefits. However, as you near retirement, you may find yourself asking
What Happens to Your Federal Benefits When You Retire? Read More »
If you’re a federal employee working in the United States, you’ve likely heard about the FERS supplement. This special supplement, also erroneously referred to as the ‘Social Security Supplement’ or ‘Bridge’, is designed to give those who have earned a full FERS retirement an extra source of income. In recent years, however, Congress has talked
Will the FERS Supplement Survive? (What You Need to Know) Read More »