Author - John Sanders

06 Sep

Fire Fighters

Congress had been working to include new reforms to transform the previously existing federal firefighter’s compensation as included in the bipartisan infrastructure law. These reforms include increasing the overall pay of firefighters, especially in locations with low job recruitment and retainment. The idea is to increase their income by $20,000 annually or 50% of their current salary, whichever is lower.
Following this, the President announced further pay rises and the implementation of a framework that will increase and improve compensation. […]

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30 Aug

The difference between COLA and a pay raise

Many people have asked me about my approach to retirement. How should one strike a perfect balance between the yearly cost-of-living adjustments to retirement benefits and the increase in employee income? Even though the answer to this concern is not as easy as it may sound, the aim is to grasp how the two increases work.
Adjustments of January Pay
Besides the length of your tenure, the pay given to a federal employee every year increases factor into your average salary. […]

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23 Aug

Gas Reimbursement

The global recession has pushed gas prices to new, unforeseen heights. Federal Employees’ Union is trying to tackle raising prices by urging the Internal Revenue Service to issue a new update on gas reimbursement amount. Midyear updates are rare, but it is the need of the hour for federal employees who utilize their own transport to travel to work.
It falls under the responsibility of the General Service Administration to use gas reimbursement rates for federal employees who travel to […]

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23 Aug

Remote Work For US Treasury Employees Here’s What You Need to know

Remote work became a new norm during the pandemic phase. In an attempt to minimize the effects of the pandemic, most of Covid’s response strategies involved shifting many workers to remote teams. Similarly, 60% of federal workers shifted to telework to maximize flexibility.
Fast forward to the post-pandemic era, institutions are trying to renegotiate terms for a smooth return to work. The massive vaccination campaigns have allowed workers to return to their usual working habits. However, the timeline of how […]

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09 Aug

How COLA Is Not the Answer to Inflation For Retirees

Cost of living adjustment – or Cola, for short – is a simple idea for federal retirees. But, depending on which system you’re in, you’ll find many aspects of the adjustment different from other federal employees. These differences could be related to how soon you get the adjustment and, most importantly, how much.
With inflation levels hitting a 40-year high, experts believe that the cost-of-living adjustment will be substantially higher than in previous years. Inflation levels are not the only […]

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02 Aug

How Insensitive Comments About Covid-19 Had An Army Employee Fired.

Covid-19 is no laughing matter. The pandemic which halted the world was also the cause of suffering for millions of people. It’s why there’s no margin given to any individual for making light of the situation.
Based on the reasons above, it’s not a surprise that army officials took such a hard stand and fired a social media manager for offensive and racist comments. These comments were mainly related to the pandemic and were posted as a series of questions […]

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26 Jul

Potential TSP Gains Lost During Shutdowns?

Missing out on possible gains from the stock market due to no fault of your own is frustrating. A group of FBI employees determined that the potential profits they could have made if TSP contributions hadn’t been delayed were enough to make them entitled to damaged.
The group of anonymous federal employees sued the state for the loss of potential market gain they could have made. A 35-day-long government shutdown in 2018 and early 2019 left these employees with no […]

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19 Jul

The New TSP Transition Update

Amid thousands of individuals struggling to make new changes or access their accounts, the federal government’s retirement savings program officials have opted to add new transitional updates. These updates are mostly related to introducing a new recordkeeping service.
Thrift Savings Plan’s website shows all the changes and updates implemented. The transitions include updating the login process and making it more secure and a mobile application. Moreover, the account landing page has undergone a redesign, and the admin approved access to […]

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21 Jun

This Bill Can Assist Feds in Preparing for Retirement

The government’s 401(k)-style retirement savings programme, which is currently being debated in Congress, would allow federal employees to save for retirement for a longer time.
 
The SECURE 2.0 Act, was proposed by Rep. Richard Neal, D-Massachusetts, and passed the House overwhelmingly last month. The bill, which the Senate is currently considering, would raise the age at which persons, including federal employees who participate in the Thrift Savings Plan, must begin taking mandatory minimum distributions from 72 to 75 years old.
 
The […]

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14 Jun

The Reason Many Federal Employees Retire When Their Year Ends

After 2021 and the beginning of 2022, the Office of Personnel Management received its regular influx of retirement applications. OPM received 35,549 new retirement benefit claims in the first three months of this year. OPM’s Retirement Operations Center had 36,349 outstanding claims in its inventory at the end of March. It takes 128 days to process situations that require longer than 60 days.
When waiting for your retirement paperwork to be processed, it’s wise to hope for the best but […]

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