Financial Planning and Retirement News

IG: OPM needs contingency plan for FLTCIP

After steep increases to Federal Long Term Care Insurance Program premiums that alarmed federal lawmakers several years ago, the Office of Personnel Management still does not have a plan in place to make sure such increases don't happen again.

WH creates Postal Service task force

The White House contends that the United States Postal Service “is on an unsustainable financial path,” and has created a task force to evaluate its operations and finances in order to prevent a taxpayer-funded bailout.

Bill would give former temp feds earlier retirement

Federal workers who were originally hired as temporary employees, but then later converted to a full-time employee will be able to retire sooner under a bill introduced this week.

Federal Benefits Q&A

Question: "What is the impact of retiring at my minimum retirement age of 56 with 29 years of service, which is about one year away? Would I still receive the FERS supplement and keep my FEHB?"

Retirement claims surge in January

After reducing its retirement claims backlog to its lowest level in a year, the Office of Personnel Management received nearly 15,000 claims in the first month of 2018, bringing the backlog back up to one of its highest levels.

OPM makes annuity policy change without public notice

The Office of Personnel Management in 2016 changed a policy on divorced former federal employees’ annuity supplements without making a public notice, a recent Inspector General report finds.

OPM ended 2017 with retirement claims backlog at its lowest level

Despite having an inventory at one of the highest levels of the year in November, the Office of Personnel Management reduced its retirement claims backlog to its lowest level of the year by December.

Treasury suspends TSP G fund investments to avoid hitting debt ceiling

The Department of the Treasury Secretary Steve Mnuchin in a letter to House Speaker Paul Ryan said that he has taken an “extraordinary” measure in order to avoid hitting the debt ceiling, by stopping investments into a retirement fund for federal employees.

Thrift Savings Share Prices

Thrift Savings Share Prices as of Nov. 29, 2017.

Legal Matters: Not all retirements are the same

Just because someone is eligible for retirement does not mean that employee will retire at that age, though. According to a study conducted from 2014 to 2016 by the Office for Personnel Management (OPM), the average age of people retiring from the executive branch of the federal workforce increased from 61.2 to 61.7 years old.

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