• Federal Workers Skirt Ethical Guidelines for Donations

    Federal Workers Skirt Ethical Guidelines for Donations

    Friday marked the first day federal employees from nine government agencies failed to receive a paycheck. Some of these employees have created online donation accounts to cover basic living expenses during their time without pay. While this can be an effective way to cover expenses, federal employees must be wary of ethical limitations to receiving gifts from outside sources.

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retirement - FEDmanager - News for feds

10 Financial Goals to Reach By Age 40

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Once we hit our 40s, we should have a firm handle on our careers, our family relationships, and have built a strong foundation for long-term financial success. To help you get a gauge on where you are, we’ve put together our 10 Financial Goals to Reach By Age 40.

2018 Fed Pay Raises, TSP Continues to Grow

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Rep. Gerry Connolly, D-Va., introduced the Federal Adjustment of Income Rates (FAIR) Act recently which would give civilians a two percent adjustment to their base pay, and a 1.2 percent average increase to their locality pay. 

Allow Feds to Buy Credit Toward Their Retirement

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Those who truly know federal service understand that working for the government is not just another job. You apply yourself to hard work, day after day.

Chaffetz Talks Changes to Feds’ Job Security and Retirement

from the hill

This week, Representative Jason Chaffetz (R-UT), who chairs the House Oversight and Government Reform Committee, spoke out about his intent to reform federal employees’ retirement benefits and job security.

Considering Life Insurance? Take a Detailed Needs Analysis

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When purchasing life insurance, it's important to understand the financial needs of your beneficiaries before you choose a policy. Many individuals tend to think backwards when it comes to life insurance. They make critical decisions on the product they want, whether it’s permanent life insurance, basic term life insurance or even a combination of both, before thinking through the amount of protection they need. As such, you really need to first figure out how much life insurance you need before you even think about the product that would be most appropriate. A needs analysis can help you determine how much life insurance you should buy.

Evaluating Life Insurance Coverage Outside of Open Season

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While it’s not Open Season for Life Insurance, it’s a perfect time to evaluate your coverage. Life insurance is a vital tool when it comes to safeguarding your family’s future. How would your family’s income be impacted if you passed away? What if you receive a terminal diagnosis? What will your family need to retain financial stability? Fortunately, you can apply for WAEPA’s Group Term Life Insurance at any point in the year – meaning you don’t have to wait for an Open Season period to supplement or replace your coverage from FEGLI. 

Federal Circuit Reverses MSPB Order to Repay OPM Overpayment

shaw bransford & roth case law update

After the Merit Systems Protection Board found that a retired federal employee failed to prove that the recovery of overpaid benefits from the Federal Employee Retirement System (“FERS”) would be against equity and good conscience, the Court of Appeals for the Federal Circuit reversed the MSPB’s decision, finding that the Administrative Judge’s analysis (which the full Board accepted) was not supported by substantial evidence, was erroneous, and that recovery of the overpayment was unconscionable given the “inexplicable” three-year delay by OPM to finalize the retiree’s benefits, and the additional four-year delay between the retiree’s request for reconsideration and OPM’s decision. 

FREE Federal Benefits Guide

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Over 9 million current and former Federal Employees and their families rely on some form of benefits from the Federal Government. With the quantity of rules and regulations surrounding these benefits, it’s imperative to have a firm understanding of how these policies can directly affect you.

House GOP Budget Proposal Includes Federal Retirement Cuts

from the hill

After initially displaying reticence to go along with the cuts to federal employees proposed in President Trump’s budget blueprint, House Republicans this week included similar measures in their own budget blueprint.

Major Shifts to the G Fund Following Brexit

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Markets dropped drastically in June after the United Kingdom voted to leave the European Union, and following the fallout from the Brexit, Thrift Savings Plan (TSP) enrollees moved $1.8 billion into the G Fund in June. 

Money-Saving Discounts for Federal Employees

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While government jobs are known for their stability, they are not necessarily renowned for their pay scales. Fortunately, one of the perks of being a federal employee is that many companies are willing to thank public servants by offering them discounts on almost anything, from computers and cell phones to hotels and flights. Such discounts and deals are provided exclusively to federal employees and their families. To capitalize on these savings, be on the lookout for the following essential federal employee discounts:

Paying Off Your Mortgage in 5-7 Years

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WAEPA’s Annual Member Meeting this October will include a Plenary Address by Jordan Goodman, America’s Money Answers Man, on a variety of cutting-edge topics surrounding Financial Wellness. WAEPA sat down with Jordan to discuss one of the most noteworthy portions planned for speech, centered around paying off your mortgage in 5-7 years (on your existing level of income!).

Preparation Tips for FEHB Open Season 2019

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As a federal employee, it is important to ask yourself if your current health plan is working for you. A change in marital status or a newly discovered medical condition can impact your coverage needs. To better adjust to the unexpected events in life, the Office of Personnel Management hosts its annual Federal Employee Health Benefits (FEHB) Open Season.

Retired Feds to Receive Small COLA Increase

from the hill

Federal retirees, who did not receive a cost-of-living increase last year, will see a modest adjustment of 0.3 percent in 2017.

Retirement Planning Tips

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With Americans living longer lives, it has become increasingly critical to plan for the retirement years. And the earlier you start making plans, the more likely it is that you will be well prepared for your retirement.

Supreme Court: Veteran Can’t Be Forced to Indemnify Ex-Spouse When Electing Benefits

shaw bransford & roth case law update

A retired Air Force Veteran’s divorce decree awarded his ex-wife 50 percent of the veteran’s future Air Force retirement pay, but thirteen years after the divorce, the veteran was found partially disabled due to an earlier service-related injury, and elected to give up an equal amount ($250 monthly) of retirement pay in order to receive disability pay – thereby reducing the value of his ex-wife’s 50 percent share by 50 percent of $250. 

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