New federal retirees rightly expect a smooth transition—from active payroll to retirement and annuity payments. But there are mounting signs of problems, in particular, significant delays in the timely start to these transfers to folks who are winding down their federal career.
The NFC said it plans to eliminate deductions for Old Age, Survivors and Disability Insurance in accordance with the president’s Aug. 8 executive order deferring deductions due to COVID-19.
The latest survey of 5,500 Thrift Savings Plan participants shows that nearly 9 out of ten federal employees said they are happy with it, though satisfaction dipped a bit -- likely because of the fallout from the pandemic.
Some injured or disabled feds may be better off not drawing from the Federal Employees Retirement System but instead electing to continue to draw disability pay under the Federal Employees’ Compensation Act program, a new Government Accountability Office report says.
Thrift Savings Share Prices as of Sept. 4, 2020.
Thrift Savings Share Prices as of Aug. 13, 2020.
In an effort to optimize the agency’s tech investments and update the skillset of its workforce, the Department of Agriculture’s CIO Office has instituted a hiring freeze and plans to offer early retirement options to IT workers.
Embattled Federal Retirement Thrift Investment Board Chairman Michael Kennedy’s last day on the job was June 30.
Embattled Federal Retirement Thrift Investment Board chairman Michael Kennedy will exit the agency as part of a Trump administration overhaul.
Thrift Savings Plan is now offering temporary loan options for TSP participants affected by COVID-19.