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The Office of Personnel Management's efforts to process retirement claims and reduce a longstanding backlog slipped last month, after the agency was forced to cancel employee overtime because of automatic budget cuts. OPM processed 10,954 claims in May, according to new data, 546 fewer than it had projected. That's only the third time in the past 16 months - since the agency rolled out a new plan for clearing the backlog — that OPM failed to hit its processing goal.
Did you know the majority of Americans who go bankrupt do so because of high medical bills -- even though most of them have health insurance, Senior Correspondent Mike Causey says. So, what's the perfect way to protect yourself? Can you say long-term care insurance?
Federal employees who choose to retire part-time and return to federal service under a new phased-retirement option will have to spend at least 20 percent of their time on mentoring activities, according to proposed rules from the Office of Personnel Management, which were released today in the Federal Register
The Supreme Court says a Virginia law can't override a federal employee's decision to make his ex-wife, not his wife, his beneficiary in a federal insurance program.
Welcome to sequestration, which is currently the world's longest-running interactive game show starring you, your granny, and all your friends and neighbors, Senior Correspondent Mike Causey says. The question is: Are you having fun yet?
After solid showings in March and April, Thrift Savings Plan funds lost a little steam last month, according to new data from the Federal Retirement Thrift Investment Board. Overall, two of the five regular funds posted ended May in negative territory, including the F Fund (the bond market) and the I Fund (international stocks). The F Fund is down 0.76 percent for the year.
The Washington area is alive and very well as it enters the third month of sequestration, Senior Correspondent Mike Causey says. But what about feds in other places? Is their life beyond the Beltway? What's sequestration doing to feds in Ogden, Utah, and Maricopa County. Ariz.? How are communities like Hampton, Va., and Huntsville, Ala., holding up?
In this special Federal Drive panel discussion, guest experts discuss the impending retirement wave and how agencies can plan effectively for the loss of experience and knowledge when their long-time employees head for the experts.
Even though a massive federal retirement tsunami has been a no-show, even a moderate uptick in retirements could pose challenges for agencies -- especially as they face decreasing budgets and declining staffs. In part three of our special report, "Retirement Conundrum," Federal News Radio examines how agencies plan to retain institutional knowledge and fill critical skills gaps as longtime employees head for the exits.
Feds who are already retired (and those who plan to retire someday soon) have several worries, Senior Correspondent Mike Causey says. For those about to take the plunge, the concern is the backlog of applications at the Office of Personnel Management. For those already on the roles the fear is that future benefit increases will be downsized each year.
Not that long ago, the Office of Personnel Management faced a crisis in processing retirement claims. In part two of our special report, "Retirement Conundrum," Federal News Radio examines how OPM set out to beat its backlog, and how it can stay ahead of an unexpected surge in claims amid automatic budget cuts that threaten to derail progress.
According to Office of Personnel Management statistics, the pipeline of up-and-coming federal employees is well-stocked. Nearly 30 percent of the current federal workforce is under age 40, and the number of younger federal employees is…
If you told your giant nationwide operation to make across-the-board cuts, you would think each manager would do roughly the same thing. But since sequestration has been imposed, each federal agency has acted differently, Senior Correspondent Mike Causey says. Some have frozen hiring while others are still recruiting. Some are furloughing employees while some are paying them to leave. So what's your agency doing?
NARFE legislative director Jessica Klement and Federal Times writer Stephen Losey, join host Mike Causey to talk about the self-plus-one health plan option and the chained CPI. May 29, 2013