Blog for Federal Employees Retirement Services and long and short term disability supplemental insurance plans

03 May

Upcoming Innovations and its highlights by the officials of TSP

The Executive TSP Director Ravindra Deo in an email has previewed some of the new features, including an AI virtual assistant, a mobile app, and an online conversation with a counselor of TSP via their website that will be available only to those TSP Saving plans participants who moved to the new recordkeeper this summer.
It also becomes possible for the recordkeepers to implement various initiatives that will minimize the paperwork load those participants must have to complete and streamline […]

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26 Apr

The Postal Service has provided financial services to just six customers through its Banking Pilot.

The mailing agency has received $35.70 from the restricted program. Since launching a trial program in September, the United States Postal Service has only given financial services to six people, raising questions about whether the postal service would extend the initiative that many progressive legislators and organizations have urged for years.
USPS venture into banking
Last October, USPS began its modest venture into banking with little fanfare at four post offices. It enabled consumers at such stores to pay for Visa […]

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19 Apr

The Wrong Retirement Option Can Cost You a Lot of Money

Before making a choice that may substantially impact your income, be sure you have all of the information you need.
How wrong retirement options can cost you a lot of money?
Now and then, We come across a federal employee who is ready to make a vital, irreversible choice that may not be in their best interests. It’s generally because they lack critical facts. Today we will talk about such incidents and how they can impact your life.
There was one incident […]

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12 Apr

Why Don’t Feds Get Disability Insurance?

Have you ever wondered why, as a federal employee, you aren’t protected by short- or long-term disability insurance? After all, according to the Bureau of Labor Statistics, 42 percent of private-sector employees had access to short-term disability insurance plans in 2018, and 34 percent had access to long-term disability insurance plans.
A quarter of state and local government employees had access to short-term benefits, while 38% had long-term benefits. What would happen if you were unable to work for a […]

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05 Apr

Why US Postal Service Is a Breeding Ground for Celebrities

Several individuals who have worked for government agencies have fame and success in various industries like music, acting, and many others.
A few examples include Clara Barton, who worked as a clerk in the United States Patent and Trademark Office. During WWII, Julia Child worked for the Office of Strategic Services, the predecessor of the CIA. Walt Whitman held positions in the Army Paymaster’s Office, the Treasury Department, and the Bureau of Indian Affairs.
On the other hand, the US Postal […]

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29 Mar

House Members Propose Reducing Public Service Retirement Limitation

According to new legislation introduced in the house on 3rd November, federal employees that retire under the Civil Service Retirement System would not have their Social Security benefits reduced anymore if they have spent some time working in the private sector. Pioneered by Rep. Kevin Brady, R-Texas, and co-sponsored by a bipartisan group of 30 representatives, this act is known as The Equal Treatment of Public Servants Act. The aim of this legislation is to eliminate the impact of […]

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22 Mar

Don’t Make Your Retirement All About the Money!

Most people want to retire on a beach or in a tropical paradise where they will spend their golden years relaxing. But a lot of people forget to factor in what it means to retire mentally before they think about retiring financially.
Here are some interesting ways to spend your retirement and get involved in something new.
1. Don’t Leave it All: Do your due diligence on financial professionals.
Financial professionals are one of the most trusted professions. However, there is no […]

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15 Mar

OPM Issues Guidance to Ensure 67,000 Feds Make at Least $15 per Hour

If you’ve been waiting for the guidance on what agencies should ensure all federal workers earn, the wait has now come to an end. Recently, the Office of Personnel Management issued the long-awaited guidance on Friday – it claimed and ensured that all federal workers would make at least $15 per hour in accordance with President Biden’s executive orders. The date allowed for implementation for agencies is until Jan 30.
This good news will be extended to a total of […]

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08 Mar

Pay Will Be a Barrier to Rebuilding the Federal Workforce

With the labor market being super tight, the General Schedule pay system has not been easy either. The rigidness is a hindrance in attracting and retaining employees.
U.S. workers began to resign in unusually large numbers in September 2018, nearly three times the previous record of 1.2 million in January 2001. A whopping 4.4 million Americans abandoned their jobs in September making a new trend of era “Great Resignation.”
The private sector is facing an unusually tough time finding the […]

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