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NEWS FROM NARFE

What would you lose under the chained CPI?
NARFE
A proposal to reduce the inflation protection provided by annual cost-of-living adjustments (COLAs) in the three federally administered retirement programs (Social Security, military retirement and federal civil service), as well as federal disability insurance programs, has received serious consideration and is reported to be included in the Obama administration's budget to be released this week. The proposal would replace the current index, the CPI-W, with the chained CPI. Compared over the last 20 years, the chained CPI was 0.3 percent lower than the CPI-W each year.

So, how much would your benefits be cut under the chained CPI? Use NARFE's online calculator to estimate how the proposal would reduce your earned federal annuity. After finding out, follow the link and send a message to your representative and senators, urging them to reject reducing your earned benefits. You do not have to be a NARFE member to use the calculator.

Find the calculator and link here.
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FEDERAL BENEFITS QUESTION OF THE WEEK


Discontinued service
NARFE
Question: I am age 52, with almost 32 years of federal service under the Civil Service Retirement System. Since I'm under age 55, I cannot retire on a full pension. My agency opened up an "early out" opportunity, with a 120-day window. If I don't take the early out and my position is later abolished, will I be eligible for retirement?
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FEDERAL UPDATE


Obama's budget targets COLAs, federal retirement benefits
Government Executive
President Barack Obama's fiscal year 2014 budget proposal will include a less generous formula for calculating federal retirees' cost-of-living adjustments and ask federal employees to make higher contributions to their retirement pensions, a senior Obama administration official has informed members of Congress.
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Federal retirements exceed expectations for third straight month
Federal News Radio
For the third month in a row, the number of federal employees filing retirement claims outpaced the Office of Personnel Management's projections. OPM received 10,183 retirement claims in March, more than double the number it expected to receive, according to new OPM data.
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Federal employees warned to watch out for emoluments
The Washington Post
An obscure provision of the Constitution banning acceptance of compensation or items of value from a foreign government contains traps for unwary federal employees and active or retired military personnel, the Pentagon ethics office has said. The language, designed to prevent influence by foreign nations over U.S. government decisions, covers various forms of pay as well as travel or gifts, says a March white paper from the Defense Department Standards of Conduct Office.
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Obama takes pay cut in show of solidarity with furloughed feds
Federal Times
President Barack Obama will voluntarily return 5 percent of his annual salary in a show of solidarity with at least one million furloughed federal workers. "The salary for the president, as with members of Congress, is set by law and cannot be changed," the White House said in a statement. "However, the president has decided that to share in the sacrifice being made by public servants across the federal government that are affected by the sequester, he will contribute a portion of his salary back to the Treasury."
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FINANCES


Preparing in advance
Government Executive
A recent column by Tammy Flanagan was inspired by a pamphlet prepared for its members by the National Active and Retired Federal Employees Association. The publication is called "Be Prepared for Life's Events." NARFE formed in 1921, the year after Congress passed the law creating the Civil Service Retirement System. It represents the interests of nearly 5 million active and retired federal workers by providing them a voice before Congress. NARFE sponsors and supports legislation to protect the retirement benefits of its members.
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HEALTH


Fat and cholesterol aren't only heart dangers of red meat
The Washington Post
The fat and cholesterol found in steak may not be the only components bad for the heart, according to researchers who have found another substance in red meat that can clog the arteries. The substance is called carnitine, and as bacteria in the gut breaks it down, it turns into a compound known to harden arteries, according to a study published in Nature Medicine.
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SECOND CAREERS


Boomers turn to encore careers after retiring
USA Today
Sitting at home through a 20- or 30-year retirement is no longer an option for an increasing number of baby boomers. Some are looking to do something else because they have to for financial reasons. But, increasingly, boomers are embarking on entirely different "encore" careers after retirement.
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RETIREMENT TRENDS


Boomers find ways to keep up with technology
The Tennessean
Baby boomers were some of the first personal-computer consumers. And, as more innovative technology products saturated the marketplace, many in this group used discretionary income to dive into the digital age. Now, as the oldest boomers enter their 60s, they still dig the new devices, but keeping up with the learning curve may be more of a challenge. Today, they are just as likely to learn about new technology from their children and grandchildren as they are from their colleagues and friends.
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TRAVEL


Luxury travel on a shoestring budget
Fox News
Travel providers know that today's globetrotter is more budget conscious, and they're discounting heavily through sites like Hotwire to attract them. These days, travelers can have the ultimate luxury getaway at a fraction of the retail cost — they just need to know when to travel, how to book their travel and where to stay.
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CONSUMER TIPS


Seniors an especially attractive target for scams
Consumer Affairs
Famous outlaw Willie Sutton was purported to have replied to the question, "why do you rob banks" with "because that's where the money is." The fact that he never said it is almost beside the point. He might as well have. And the same answer would hold true if you ever asked a scammer, "why do you target senior citizens?" According to the FBI, seniors are most likely to have a "nest egg," to own their home and to have excellent credit.
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NARFE NewsWatch from the National Active and Retired Federal Employees Association
Disclaimer: The articles that appear in NARFE NewsWatch are chosen from a variety of sources to reflect topics of interest to active and retired federal employees. With the exception of Federal Benefits Question of the Week and News From NARFE, an article's inclusion in NARFE NewsWatch does not imply that the National Active and Retired Federal Employees Association (NARFE) endorses, supports or verifies its contents or expressed opinions. Factual errors are the responsibility of the listed publication.

Colby Horton, vice president of publishing, 469.420.2601   Download media kit
Caleb Gremmer, content editor, 469.420.2648   Contribute news
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