Many people think that the longer you wait to retire the better as your monthly payment and benefits can be higher. However, there are other factors to consider about early retirement. In many cases in can be beneficial to you and your family. The truth is that you should avoid sacrificing your financial future just because you want to get a better payout later on. This is not something to take lightly and it’s important to consider certain facts […]
The Office of Personnel Management has released new data regarding the number of federal employees who filed for retirement. The number of retirees increased 24 percent in 2018 over the previous year.
OPM published retirement statistics earlier that showed that 7,142 employees filed for retirement in September 2018. That brought the total federal retirement claims in fiscal 2018 to 105,298, marking a 24.1 percent increase over the number of claims from the federal workforce in fiscal 2017, which totaled 84,807.
Within the next two months, the average American worker will likely see an estimated increase in their take home pay of $70 a paycheck, or $2,000 a year, due to the 2017 Tax Reform Act.
It’s anticipated that most Americans will immediately absorb the extra money as part of their normal budget spending; $70 per pay period could easily justify a nice dinner out or a new phone or cable upgrade for many individuals.
Think about how you can use this […]
Lifecycle funds that have been targeted within the 10 years before the participant’s retirement date have now been approved to within five-year increments. The panel that oversees the retirement savings plan for federal employees on Wednesday approved this unanimously.
Investors can move to a more conservative portfolio as they near their anticipated retirement date — on a five-year basis as recommended by consultants at Aon Hewitt following a trend in private 401(k) providers to offer lifecycle funds.
“Most have been moving […]