A lot of people who retired last year or earlier this year probably wish they hadn’t. Most are living on less.
Employees overwhelmingly see the importance and value in existing federal health and retirement benefits, and in many cases, these programs are a top recruitment and retention incentive, a new Office of Personnel Management survey found.
Lots of federal workers have said they might be willing to take a pay cut if they could do their jobs from a site a hundred miles from their home office.
Given the impact of the pandemic on the economy, and on prices, it is unlikely that retirees who get cost of living adjustments most years will be getting a COLA in January 2021.
Time in grade and in government doesn’t automatically mean you will be able to maintain a reasonable standard of living once you’ve traded your biweekly pay check for a monthly annuity.
Although it’s too early speculate about numbers, some experts in health insurance have projected that premiums overall for all Americans could rise by 40% percent if not more.
Working for the federal government has its rewards and challenges. The same when you retire — a lot of options which also means a lot of choices.
Most people stop looking forward to birthdays after they first become eligible to drive, or vote.
But the one way to anger many feds is to tell them or remark that they are lucky to have such a good pension — then stand back.
While your income will likely go down in retirement, moving to a more tax-friendly state could increase the cash value of your annuity.