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Max out your Thrift Savings Plan (TSP) Account

Similar to a 401(k) plan, the TSP permits you to make pre-tax contributions every time you get paid. You decide how much to allocate to your TSP, up to a certain limit. The TSP allocation is taken out of your gross pay, and your paycheck is reduced by that amount. The allocated amount goes directly […]

Voluntary Contributions to Federal Employee Retirement Funds

Voluntary contributions are payments made to the retirement fund in addition to the deductions that are withheld from pay. You can make these contributions only if you are covered by the Civil Service Retirement System (CSRS) and do not owe a deposit for a period of time when deductions were not withheld from your pay. […]

How Federal Employee Annuities Are Computed

Your basic annuity is computed based on your length of service (which includes unused sick leave if you retire on an immediate annuity) and “high-3” average pay. To determine your length of service for computation, add all your periods of creditable service, and the period represented by your unused sick leave, then eliminate from the […]

Errors in Withholdings and Contributions

Payroll offices must adjust errors in withholdings and contributions on a subsequent payroll and must include the adjustments in a subsequent withholdings and contributions report. Your employing office must ensure that your individual payroll record shows not only the regular (current) deductions for health benefits withholdings, but also the adjustments. Where annual appropriations are involved […]

Senate Ends Tax Penalty for Retired Federal Officers

Federal law enforcement officers and firefighters will soon be able to withdraw funds from their Thrift Savings Plan (TSP) after the age of 50 without a tax penalty. The legislation cutting the penalty was passed unanimously by the Senate June 4. The House passed a similar version of the legislation last month, but must now take up the Senate’s […]

Cyber Security Breach at the OPM

News Release FOR IMMEDIATE RELEASE Thursday, June 04, 2015 Contact: Sam Schumach Tel: (202) 606-2402 OPM to Notify Employees of Cybersecurity Incident WASHINGTON, DC – The U.S. Office of Personnel Management (OPM) has identified a cybersecurity incident potentially affecting personnel data for current and former federal employees, including personally identifiable information (PII). Within the last year, the […]

Repost from OPM Director: Celebrating Every Member of our Federal Family

June 3, 2015 As we celebrate LGBT Pride Month, I want to proudly reinforce my continued commitment to the lesbian, gay, bisexual, and transgender members of our Federal family, and recognize the incredible contributions this community has made in service to the American people. We better serve the American people when our Federal workforce draws […]

FEHB Enrollment With Military Service

Federal employees who elect to serve in the military can continue their FEHB coverage during their service. Entry into Military Service For 30 days or Less If you enter one of the uniformed services for 30 days or less, your FEHB enrollment will continue without change. Withholdings and Government contributions will also continue, as long […]

Enrolling in FERS

New Employees Most new employees hired after December 31, 1983, are automatically covered by the Federal Employees Retirement System (FERS). The exceptions are employees in appointments that are limited to 1 year or less, most intermittent employees, anyone who is not eligible for Social Security coverage, or certain persons with non-Federal service which is creditable […]

Working at the DoD

As the single largest employer on the planet, with more than 3 million employees and responsibility for more than one half of the entire federal budget, the Department of Defense is a prime target of any exiting service member who wishes to continue to use their talents to defend our country. The role of the […]

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