Financial Planning and Retirement News

OPM processed more retirement claims by end of the summer

The Office of Personnel Management processed more retirement claims in August than July, and also lowered its backlog inventory.

Understanding CSRS and FERS Cost-of-Living Adjustments (COLAs) - Part II

In most years, federal annuitants receive cost-of-living adjustments (COLAs) to their annuities. In the second of two columns explaining COLAs, this week’s column discusses COLAs for those annuitants covered by the Federal Employees Retirement System (FERS). Included in the discussion is how the FERS COLA is determined and at what age FERS annuitants get their first COLA.

A stack of paperwork

OPM retirement claims backlog went up in June

After consecutive months of experiencing small declines in its retirement claims backlog, the Office of Personnel Management’s inventory shot back up last month.

TSP introduces new ‘spillover’ method for catch-up contributions

The Thrift Savings Plan, on July 24, announced its plans to change the “spillover” method for making catch-up contributions for certain active TSP participants.

Feds win standing to sue over OPM breach

The U.S. Court of Appeals has ruled that federal employees can sue the government for compensation for data breaches due to the government's failure to take adequate preventative measures.

Congressman Jody Hice

Newly introduced legislation would make feds’ bonuses, pensions public

A Georgia congressman has introduced legislation that aims to make federal employees’ bonuses and pensions transparent.

HHS: New contract blasted as 'unfair'

A top union is pushing back against the new contract coming down the pike for Department of Health and Human Services employees.

OPM pushing through retirement claim backlog

The Office of Personnel Management is steadily reducing its federal retirement claim backlog since reaching its seasonal surge of applications at the beginning of the year.

VA continues nationwide campaign to prevent suicide

VA expands its fight to prevent suicides by veterans and is enlisting towns and cities in a nationwide campaign.

New 2020 budget calls for eliminating pensions for some new feds

A senior administration official has confirmed that the Trump administration’s fiscal year 2020 budget request would establish a new retirement program for some federal workers that would bring federal benefits more aligned with the private sector, which often does not offer pensions to employees.

2020 Digital Almanac

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