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Financial Planning and Retirement News


Federal Benefits Q&A

Question: “My former spouse wants to create a ‘heritable asset' from her Civil Service Retirement System survivor benefit. How much will this reduce what's left of my CSRS annuity?”

Federal Benefits Q&A

Question: From what I've been able to find out on my own, a temporary position is eligible for medical benefits, but not retirement benefits (FERS). Furthermore, if I should manage to get a permanent position, I can't use that temp time toward the five year vesting period or toward the calculation of the annuity. Is this correct?

Not Too Late to Make Changes to 2016 IRA Contributions-Part I

Although calendar year 2016 is over, some employees may be eligible to reduce their 2016 federal tax liability by contributing to a traditional IRA. Some employees may want to save on future taxes by contributing to a Roth IRA. In the first of two columns discussing 2016 IRA contributions, this week’s column discusses recharacterizations of IRA contributions.

OPM releases new retirement claim numbers

The Office of Personnel Management has released a list of more than 40 frequently as questions with answers in response to last month's federal hiring freeze.

OPM releases top hiring freeze questions, answers

The Office of Personnel Management has released a list of more than 40 frequently as questions with answers in response to last month's federal hiring freeze.

Slightly fewer feds file for retirement in January than last year

While the beginning of the year is typically when most federal employees file for retirement, about 100 fewer feds filed last month compared with last year's numbers.

Federal employee group rejects reform bill

The president of one of the largest federal employee organizations has issued a statement opposing recent bipartisan supported postal reform legislation.

Training begins for DOD's new retirement system

Training is now underway for the Defense Department’s new modernized retirement system, which consists of a combination of the Thrift Savings Plan, an annuity provision, an incentive payment and continuation pay.

Changes coming to Social Security during 2017 for both employees and beneficiaries

This week’s column discusses how the 0.3 percent cost-of-living-adjustment (COLA) to Social Security benefits effective Jan. 1, 2017 affects employees and beneficiaries. Among the effects discussed are higher-salaried employees paying more in FICA taxes, additional earnings needed to earn one Social Security credit, and a higher earnings limit for working Social Security recipients aged 62 to 66.

TSP contribution limits unchanged for 2017

The annual contribution limit for the Thrift Savings Plan will remain at $18,000 per year in 2017.

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