For Your Benefit

Federal Benefits Updates for 2024

January 8, 2024 on ForYourBenefit, our host Bob Leins, CPA® welcomes Herb Casey, Federal Benefits Specialist.

Topics include:

Income

  • COLA for FERS and CSRS retirees
  • Salary pay raises & new locality rates

Social Security

  • Maximum amount of earnings subject to Social Security tax
  • COLA
  • Earning limitations

FEHB Insurances

  • Increased premiums
  • 12 fewer plans

Medicare

  • Rising premiums for Medicare
  • Expansion of mental health coverage

Federal Long-Term Care Insurance Program

  • Increasing premiums

Thrift Savings Plan (TSP)

  • Contribution limits
  • Secure 2.0 changes

For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

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