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Treasury Department approves lump-sum pension payments for current retirees

By Allison Eatough In March, the U.S. Department of the Treasury issued a notice that gives current retirees and their beneficiaries a new option for their pensions: a one-time, lump sum payment instead of future annuity payments. The notice, which essentially allows employers to buy out current retirees from their pensions, reverses a 20151 notice [...]

By |2019-04-23T15:40:43-04:00April 23rd, 2019|Pension|

Federal Employee Pension Remains Valuable

Those who work for the federal government have constant uncertainty regarding their pension value. Will they receive what their benefit estimate really says? Will they charge more for pensions already promised? Will they take them away or reduce them? Will they remove or reduce the cost of living adjustments or require a later starting point [...]

By |2019-03-26T14:41:45-04:00July 16th, 2014|Federal Employees, Pension|

Request Your Federal Pension

Even If You Don’t Plan to Retire Any Time Soon With reports continuing about the tens of thousands of federal employees scheduled to retire over the next few years the workload of OPM is expanding rapidly. Federal employees and their planner are beholden to the OPM’s federal pension calculations when making important financial, retirement or job [...]

By |2019-03-26T14:41:45-04:00July 16th, 2014|Federal Employees, Pension, Retirement|

What Will Happen to Federal Employee Benefits?

The discussions in Washington surrounding a reduction of benefits for federal employees are gathering strength. On April 5th the Washington Post reported that President Obama would propose $35 billion in savings for his 2014 budget by increasing the amount federal workers would be required to contribute toward their pensions. Currently employees hired this year and beyond, [...]

By |2019-03-26T14:41:45-04:00July 16th, 2014|Federal Employees, Health Care, Pension|

Federal Employees: What Are Your Pension Benefits?

Let’s assume that you are approaching retirement and begin preparing your finances by reviewing your expected pension benefits. You request a pension estimate from the office of personnel management(OPM) to begin crunching the numbers. It says you will receive $2,500 per month or $30,000 per year with the potential for annual cost of living adjustments. If you [...]

By |2019-03-26T14:41:46-04:00July 16th, 2014|Federal Employees, Pension|