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2014 Federal Handbooks Now Available

ARLINGTON, VA - Federal Handbooks has released their FREE 2014 handbooks for federal employees. These handbooks, written specifically for federal agency employees, include a variety of information about pay, benefits, education, travel, healthcare and retirement. Download any of the handbooks for FREE or purchase a printed copy. Don't forget to tell all of your federal colleagues about these free handbooks too! 2014 Federal Handbooks - Now Available - 2014 FEDERAL RETIREMENT HANDBOOK - 2014 FEDERAL HEALTH BENEFITS...

Eligibility for Health Benefits after Federal Retirement

When you retire, you are eligible to continue health benefits coverage if you meet all of the following requirements: •  you are entitled to retire on an immediate annuity under a retirement system for civilian employees (including FERS MRA + 10 retirements); and •  you have been continuously enrolled (or covered as a family member) in any FEHB plan(s) for the 5 years of service immediately before the date your annuity starts, or for the full period(s) of service since your first opportunity...

Civil Service Retirement System Basics

The Civil Service Retirement System (CSRS) originated in 1920 and since then has provided retirement, disability and survivor benefits for most civilian employees in the federal government. Prior to that time, many civilian employees in the federal government simply worked until they died because there was no means of support for them if they were to quit their jobs. Over time, the Civil Service Retirement System has become a progressive element in the personnel management system. Benefits have continued to evolve. They...

The Federal Employees Retirement System

The Federal Employees Retirement System, or FERS, became effective January 1, 1987. Almost all new employees hired after December 31, 1983, are automatically covered by FERS. Certain other Federal employees not covered by FERS have the option to transfer into the plan. FERS is a three-tiered retirement plan including the following components: 1. Social Security Benefits 2. Basic Benefit Plan 3. Thrift Savings Plan   You pay full Social Security taxes and a small contribution to the Basic Benefit Plan. In addition,...

Federal Employee Retirement Income Versus the Tax Man

You’ve probably heard the Benjamin Franklin once said “The only certain things in life are death and taxes.” But that doesn’t tell you exactly how much you’ll pay in taxes, so how is your retirement income taxed for federal income tax purposes? Let’s take a look. Most of your CSRS or FERS pension will be taxable. Because your retirement annuity was already taxed, the payments you receive will not be taxable again. Unfortunately, you receive the annuity spread out over your life expectancy....

Federal retirement claims fell in December but OPM predicts swell is coming

Fewer federal employees filed for retirement in December than in any other month in 2012, according to the Office of Personnel Management. The number of claims filed — 5,152 — fell well below OPM's projections of 7,000 claims. Despite fewer claims than expected, the agency failed to meet its goal of processing 11,500 claims, and only managed to complete 10,454. December marked only the second time in 2012 the agency failed to hit its processing target. The agency also fell short of its goal in April. Overall,...

Deal to Raise Employees’ Retirement Contribution

Federal negotiators stuck a deal in mid-February to significantly increase future federal employees' retirement contributions which will help pay for an extension is unemployment benefits. According to the American Federation of Government Employees, newly hired and rehired federal employees would have 3.1% of each paycheck put toward their Federal Employees Retirement System pensions. The current contribution rate is only 0.8%, so that amounts to a 2.3% increase. The increase will affect new hires and rehires beginning...

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