My Federal Retirement

Credit Unions Provide Assistance for Furloughed Federal Employees

While the programs vary, some credit unions are offering no-interest or low-interest short-term bridge loans, penalty-free early withdrawals on savings certificates, and free financial counseling

Advantages and Disadvantages of 529 College Savings Plans

One of the ways to help families save for college costs is the 529 College Savings Plan. The author outlines many of the disadvantages of 519 plans -- and a few disadvantages.

Strategies to Maximize Social Security Retirement Benefits

Since most federal employees at some point after they retire will elect to receive Social Security, federal benefits expert, Ed Zurndorfer, presents three strategies for employees -- particularly FERS employees -- to maximize their Social Security retirement benefit

Is OPM Processing Federal Employee Retirement Claims on Time?

Last week, the Inspector General for the Office of Personnel Management gave testimony to the House oversight committee regarding the on-going backlog of processing federal employee retirement claims

OPM Update: Reducing Backlog of Retirement Processing Claims

The Office of Personnel Management released an update on its challenge to accelerate the processing of federal retirement claims

OPM Updates Information on FERS Revised Annuity Employee (FERS-RAE)

The "Middle Class Tax Relief and Job Creation Act of 2012" makes two significant changes to the Federal Employee's Retirement System (FERS). Beginning in 2013, new employees (as designated in the statute) will have to pay higher employee contributions

Thrift Savings Plan (TSP) Returns: Monthly and Annual - G, F, C, S, I and L Funds Updated: May 2

View the latest Thrift Savings Plan returns

Union Disappointed in DoD for Rejecting Call to End Furloughs

American Federation of Government Employees National President J. David Cox Sr. expressed his disappointment this week at Defense Secretary Chuck Hagel for rejecting a bipartisan call from lawmakers to end the furlough of civilian employees

Supreme Court Ruling on DOMA Could Affect Social Security Spousal Benefits

The Supreme Court hearing earlier in April on the constitutionality of the 1996 Defense of Marriage Act (DOMA) could have a significant impact on federal employee's spousal benefits. If the Supreme Court overturns DOMA, then CSRS and FERS spousal benefits and spousal survivor benefits could be affected. Also affected could be Social Security spousal and survivor benefits including benefits for former spouses. Federal benefits expert, Ed Zurndorfer, reviews current rules regarding Social Security spousal benefits

GAO Report Questions Defined Contribution Plan Rollovers to IRAs

Does the GAO study have any application to the Thrift Savings Plan? Federal benefits expert, Ed Zurndorfer, discusses the options available with the TSP that some TSP participants may not be aware of

IRS to Furlough All 90,000 Employees

The head of the National Treasury Employees Union said the Internal Revenue Service will send out furlough notices to the entire IRS workforce, identifying five furlough days where the agency will shut down entirely

Federal Employee Group Provides Calculator to Estimate Reduced Retirement Benefits Under Proposed Ch

NARFE has provided an online calculator to help federal employees and retirees estimate how the proposed chained CPI would potentially reduce their federal retirement annuities and Social Security over time

How Are Your 2012 Federal Income Taxes Being Spent?

As you file your federal income taxes for 2012, you might be wondering how your tax dollars are being spent. The White House has an online "Taxpayer Receipt" calculator to help you understand how your tax dollars are being allocated to various federal spending programs

Questions and Answers About Social Security

In a video provided by Morningstar, retirement experts Mary Beth Franklin and Mark Miller tackle pressing questions on Social Security

5 Things to Know if You Need More Time to File Your Federal Income Taxes

With the April 15 tax-filing deadline fast approaching, some taxpayers may find that they need more time to file their tax returns. If you need extra time, here are some tips

Tips for Taxpayers Who Can't Pay Their Taxes on Time

If you find you owe tax after completing your federal tax return but can't pay it all when you file, the IRS provides several options

How Federal Retirement Benefits are Taxed - Part VI: Lump Sum Benefits

Federal benefits expert, Ed Zurndorfer, discusses the tax consequences of the various lump sum federal employee benefits -- including unused annual leave, TSP withdrawals, life insurance, survivor benefits, and Social Security

How Federal Retirement Benefits are Taxed - Part V: Social Security Benefits

Most federal employees will at some time receive some type of Social Security benefit paid by the Social Security Administration. Federal benefits expert, Ed Zurndorfer, discusses if -- and how much -- of these benefits are taxable

DoD Announces Fewer Furlough Days, Delayed to Start June

The Defense Department has revised from 22 to 14 the number of days hundreds of thousands of civilian employees could be furloughed this year because of the budget sequester

How Federal Retirement Benefits are Taxed - Part IV: The Thrift Savings Plan

Federal benefits expert, Ed Zurndorfer, discusses how the way a traditional TSP account owner withdraws their account balance determines when federal and state income taxes are levied.