The TSP option is a nice but not absolutely essential thing to have for those under the more generous CSRS retirement program with its higher benefit and full protection from inflation.
Have you asked yourself all the right questions about your retirement?
Is the government using the wrong measuring tool to track inflation and thus producing the wrong cost of living adjustments?
So what if the government gave current CSRS employees a choice: retire by a to be determined date and get full CSRS credit for their annuity, or continue in their jobs but with future benefits compiled under the less-generous FERS system. Which would you choose?
Who knows if there will be a pay raise… but one thing is for sure, health insurance premiums will be going up. The issue is, what will you pay them with?
Despite tough talk from Congress and the White House, the federal employee benefits package has so-far remained untouched.
Many retirees will be watching the inflation index from now through September to see what their January cost of living adjustments will look like.
A lot of people are now wondering if it’s a good time to get out of government and do something else. Jeff Neal reminds feds that an ill-informed move could land you somewhere that is worse than where you are now.
Things are looking good. but the possibility of yet another government shutdown remains, as today’s guest columnist Abraham Grungold points out.
Nearly every year for the past decade lawmakers have gone after the two major federal retirement programs, FERS and CSRS. So far, groups representing workers and retirees have managed to beat back the changes — but there have been some close calls.