Legislation has been introduced in the House of Representatives to allow federal employees to make multiple age based and post-separation withdrawal from their TSP accounts. The TSP Modernization Act of 2017 was introduced by Congressman Mark Meadows (R-NC) and Elijah...
The Merit Systems Protection Board (MSPB) is an independent and semi-judicial agency and is known as the “guardian of Federal merit systems”. It is part of the Executive Branch of the U.S. government and was established in 1979. Appeals If you are a civil servant and...
We all love the idea of retiring early, or at least as soon as possible. Maybe at age 55 or 60. But what about the idea of retiring as early as 45? Is that even possible, or a good idea? Before going all-in on this idea of retiring at 45, carefully consider some of...
Over 2.2 million civilian employees work in the federal government. A 2016 survey conducted by the Government Business Council found that 14 percent of federal workers said they would leave the government and 11 percent said they “may” leave if Donald Trump became...
The Federal Employees Retirement System has three parts; pension, Thrift Savings Plan, and Social Security. We all want to retire as early as possible, but do you know how possibly retiring early can affect the Social Security part of your pension or all of it? You...
Yesterday, we looked at what happens to your benefits when you leave federal service before becoming eligible for retirement. This post will look at what happens to your benefits if you leave federal service, and then return to federal service. The following apply...
People leave jobs all the time, for various reasons. Those who work in the federal government are no different. As with any job move, you must think about health insurance, 401k, annual leave, etc. While leaving federal service requires you to think about these as...
The Office of Management and Budget has directed agencies to submit a “near final” version of their reform plans by June 30. Included in this is a progress report on workforce reduction and a proposal to “maximize employee performance”. Then in September of this year,...
The TSP Modernization Act, introduced by Senators Rob Portman (R-OH) and Tom Carper (D-RI), could allow for more flexible withdrawal options. One of the primary goals of the bill is to encourage federal workers to leave their savings in their TSP after leaving federal...
Under the Federal Employees Retirement System (FERS), there are four types of retirement; voluntary, early, deferred, and disability. Previous posts have looked at the eligibility requirements and annuity computation. Voluntary, Early, and Deferred Retirement...
There are special retirement rules for FERS and CSRS employees covered under the Special Retirement Provisions. This can cause a challenge when these employees become eligible to retire because they can become eligible at a younger age and have a mandatory retirement...
Under the Federal Employees Retirement System (FERS), there are four types of retirement; voluntary, early, deferred, and disability. Over the next few weeks, we will look at the eligibility requirements, annuity computation, and special provisions for each. This post...
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