Should you treat Social Security like insurance or like an investment? Your answer may affect how much money you collect.
If federal retirees wait until age 70 to collect Social Security, their monthly benefits could see a big increase.
By working another two years, an employee earning $80,000 per year can boost their retirement income by almost $30,000.
Once again, there are dueling agendas to eliminate or offset the Windfall Elimination Provision, a pesky nuance that reduces Social Security benefits for some federal retirees.
Those who spent decades in the military will see a modest COLA increase as coronavirus pandemic continues.
Military members and federal employee groups worry those impacted by the president's mandatory payroll tax deferral aren't getting the message about the extra dollars they're seeing in their paychecks -- and that they'll have to pay it all back next year.
After reviewing the policy's impact on the organization and workforce, the U.S. Postal Service has decided it will not implement the president's payroll tax deferral, USPS announced Tuesday.
The modern day equivalent of a panic-starter is to bring up the subject of the Government Pension Offset or Windfall Elimination Provision to retired federal or state government employees, or their spouses.
Federal News Network has created a calculator to help you estimate how much you'll receive in deferred payroll taxes between September and the end of the calendar year -- and how much you can expect to pay back in 2021.
The Office of Management and Budget has at last issued written guidance on the president's upcoming payroll tax deferral for federal employees and military members. But if employees are expecting answers, they'll come up with few definitive details.
The deferral plan won't save anybody one dollar and will come back to bite people who spend their windfalls
Fortunate federal retirees, like people who get Social Security, usually get a catchup-with-inflation increase in their benefits the first of each year.
All federal providers are working to implement the payroll tax deferral policy President Donald Trump announced earlier this month in an executive order, the administration said Monday. The policy should be in place for federal employees by the second pay period in September.
When they eventually retire, 99% of all current federal-postal workers will depend on their Thrift Savings Plan to provide a substantial portion of their future lifetime income.