Another hand in the pockets of federal workers
The Washington Post Share
If it's Tuesday, or any day that ends with "y," it must be time for another move on the wallets of federal workers. The latest attempt in a seemingly unending series of proposals to cut their pay or benefits is scheduled for a Senate vote March 13. And once again, the plan is to use their money for unrelated projects. More
Senate backs phased retirement for federal employees
The Washington Post Share
Federal employees could phase into retirement by switching to part-time work while collecting a partial annuity, under language approved by the Senate as part of a transportation bill. Under current policy, federal retirees who return to work for the government generally continue to draw their full annuities but have the salary of the job reduced by that amount, although there are exceptions. More
Federal worker benefit changes echo state plans
The Washington Post Share
The federal government has plenty of company among state governments in moving to increase employee contributions toward its retirement program, at least in a limited way, according to a Government Accountability Office report. Under a recently signed law, those people who are hired into the federal government after this year with fewer than five years of prior federal service will have to pay 2.3 percent more of their salary for their Federal Employees Retirement System benefit. The GAO found that half of the states similarly have ordered increases in employee contributions into their retirement programs since 2008. More
How to maximize your Social Security payouts
CBS News Share
One of the smartest things you can do to prepare for your retirement is to make your Social Security income as large as possible by delaying benefits for as long as you can (but no later than age 70). Seems simple, right? But according to the Social Security Administration, about half of all Americans start collecting Social Security benefits at age 62, the earliest possible age with the lowest income, and nearly three-quarters of Americans start collecting benefits before their full retirement age. More
What you need to know about bone health
Osteoporosis and osteopenia (low bone density) currently affect an estimated 55 percent of the population over age 50 in the United States. As of 2010, it was estimated that more than 52 million Americans were affected by the condition, a statistic that is thought to climb to 61 million people by 2020. More
7 tips to help caregivers field their loved ones' toughest questions
The Huffington Post Share
As members of the sandwich generation, many post-50s are taking on a new role, one that requires great mental, emotional and physical strength — that of a caregiver to an elderly or sick family member or friend. When looking after ill and aging loved ones, caregivers are often faced with difficult questions, such as "What happens next?" or "Will I recover?" Whether you have already taken on the role or you are preparing to, here are seven recommendations all caregivers should keep in mind when faced with such questions. More
Job interviewing: 8 things to do and 8 things to avoid
Money Talks News Share
Looking for work? Look on the bright side. You’re smarter than at least some of the competition. An annual CareerBuilder survey of more than 3,000 hiring managers highlighted some memorable job-interviewing moments from some candidates we can only assume didn’t get hired. More
Ecuador seen as new retirement hot spot
When Connie and Mark Pombo decided in 2010 to retire abroad, they searched for locations online. Ecuador seemed to have everything they wanted, so Mark, who had recently retired from the United Parcel Service, flew south to visit. Three months later, the couple sold their home in Pennsylvania and packed their suitcases. In the last five years, the South American country has become the top hot spot for bargain-seeking retirees like the Pombos, according to International Living magazine's 2012 Global Retirement Index. More
5 ways to thwart rising airfares
As airfares keep flying higher, consumers may need to reassess what constitutes a bargain. A Federal Aviation Administration report predicts that a combination of crowded planes and shrinking capacity will continue to lift fares this year — and experts say higher fuel prices are further exacerbating prices. But it's not all doom and gloom for fliers. "Even though airfares are rising as a whole, you can still find great deals," says travel expert Johnny Jet, host of Travel Channel's "Hot Spots 2012." More
Beef, laundry detergent prices expected to rise in 2012
ABC News Share
Food prices are on the rise both in the United States and internationally because of bad weather and rising oil prices, but products used at home, including detergents, are spiking as well. The packaged-food giant Kraft Foods, for example, raised prices 7.6 percent worldwide in the fourth quarter of 2011. Higher oil prices add to the cost of producing and transporting food and consumer staples. More
Should I try to qualify for Social Security benefits?
Question: I retired under the Civil Service Retirement System. I have 32 credits with the Social Security Administration. Would it be beneficial to earn an additional eight credits to reach the minimum of 40? More
NARFE urges senators to vote down amendment extending the federal pay freeze
NARFE has urged senators to vote against an amendment proposed by Sen. Pat Roberts, R-Kan., that would extend the pay freeze for federal government employees to a third consecutive year. Roberts wants to add the amendment to a major transportation bill. The vote on the amendment could take place today. The $26 billion budget savings over 10 years would be used to pay for special-interest tax breaks and changes in energy policy, NARFE pointed out in a letter delivered March 12 to every member of the Senate. "Federal employees have already contributed $60 billion in budget savings over 10 years through the current pay freeze," NARFE President Joseph A. Beaudoin pointed out. "The recently enacted payroll-tax holiday extension will provide another $15 billion from increased pension contributions by new federal employees." Beaudoin warned that "singling out federal employees for additional sacrifices threatens to do permanent harm to a federal civil service critical to performing the complex and important tasks of government."
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The National Active and Retired Federal Employees Association is the only organization dedicated solely to protecting and enhancing the health care and retirement benefits of federal employees and their survivors.
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