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This issue of NewsWatch is provided by NARFE, a nonprofit membership organization dedicated to protecting and enhancing the earned pay, retirement and health care benefits of federal employees, retirees and their survivors. Please join today!

NEWS FROM NARFE

NARFE president to testify in favor of 'best interest' rule
NARFE
NARFE President Richard G. Thissen will testify Wednesday, Aug. 12, at the U.S. Department of Labor in support of a proposed new regulation that would hold financial advisers to a stricter standard when advising individuals on their retirement savings. Currently, advisers must adhere only to a "suitability" standard when giving advice on a one-time basis, advice regarding rollovers or any advice on investing in an individual retirement account. That is, the recommended investments need only be "suitable" for the investor. The Department of Labor wants these financial advisers to be held to a "best interest" standard, which requires the recommendation to be in the individual investor's best interest. This is important for federal employees who may be advised to roll over their Thrift Savings Plan accounts into an IRA that provides the same or similar investment options but with higher fees. "That is the very definition of bad advice," Thissen said in comments to a congressional committee that held hearings in June on the proposed new regulation. The Department of Labor hearing will be streamed live here. NARFE's testimony begins at 10:15 a.m. Wednesday, Aug. 12.
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FEDERAL BENEFITS QUESTION OF THE WEEK

NARFE's members are well informed on their benefits and retirement options. Qualified benefit specialists are on hand to help members personally and to publish answers to questions like these every month in narfe magazine. Join NARFE today.


Health benefits
NARFE
Question: I am retiring this year and want to know how retirees make health insurance premium payments.
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FEDERAL UPDATE


Dear Congress: Stop messing with the G Fund
Government Executive
Lawmakers must stop targeting the Thrift Savings Plan's government securities fund in budget negotiations, several federal employee advocates said Aug. 6. Congressional proposals to limit the rate of return on the G Fund to reduce the deficit keep surfacing, most recently in Senate talks to finance an extension of highway and transportation funding. While federal employee unions and other advocates, along with the Federal Retirement Thrift Investment Board, succeeded in getting lawmakers to take the proposal off the table during those negotiations, no one believes the idea is completely gone.
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Retirement fraud prevention bill passes Senate
Federal News Radio
The Senate unanimously passed a bill that cracks down on federal retirement fraud and misuse Aug. 5. The Representative Payee Fraud Prevention Act of 2015 gives federal attorneys the power to prosecute retiree representatives who misuse funds from the Federal Employee Retirement and Civil Service Retirement Systems.
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SPONSORED CONTENT


Some federal employee life insurance rates to rise; others to see decrease
The Washington Post
On the heels of an immediate premium hike in the long-term care insurance program for federal employees, some rates are going to increase in 2016 in their much more widely used life insurance program — although others will hold steady and still others will decrease — the Office of Personnel Management is about to announce.
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OPM retirement backlog at highest level in 5 months
Federal News Radio
The Office of Personnel Management's retirement backlog spiked to 16,455 unprocessed claims in July, making it the first month the inventory hasn't seen a decrease since February. OPM received 9,862 claims in July — a total of 1,862 more than projected. While OPM expected to process 8,100 claims by the end of the month, it only made it through 7,918 — 182 less than its goal.
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USPS narrows its loss
Nasdaq
The U.S. Postal Service narrowed its loss in its latest quarter, helped by growth in its shipping and package services and cost cuts. USPS reported a net loss of $586 million for the quarter ended June 30, compared with a prior-year loss of $1.96 billion. Total revenue edged up slightly to $16.6 billion from $16.5 billion a year earlier, as a May 31 price increase was offset by declining volumes for its two biggest mail classes: first-class and standard.
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FINANCES


Sales tax holiday
Forbes
Planning to purchase back to school gifts for family members? Sales tax holidays, which can make these items less costly, are already in progress. Kelly Phillips Erb, tax writer for Forbes, provides state-by-state dates, covered items and links for more information.
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HEALTH


Seniors and dietary supplements: When less is more
U.S. News & World Report
It's hard to resist the promise of capsules to strengthen your bones, protect your heart, fight cancer and keep your mind sharp. Dietary or nutritional supplements might seem like an easy way to bolster your health. But experts are concerned that seniors are spending money they can't spare on pills and powders they don't really need. Find out whether dietary supplements make sense for you, when they could cause harm and how to take them safely.
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TRAVEL


20 best budget destinations for fall
Budget Travel via Yahoo
The shadows are growing longer, and now is the time to book your autumn escape. From New England leaf-peeping to big American cities, amazing national parks, European capitals and Caribbean dreams, we've rounded up a big, beautiful batch of getaways. Your only challenge? Which fall vacation to take.
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SECOND CAREERS


The 3 strikes against older job hunters
Next Avenue
There's plenty of anecdotal evidence about how hard it can be for unemployed people over 50 to get hired after they've lost their jobs. Now, a team of academic researchers have culled all the studies they could find to see what the data shows. The result isn't pretty, but one of these experts has some smart job-hunting tactics, which you'll see in this article.
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CONSUMER TIPS


Do you really need to refrigerate that?
Yahoo
Do you really need to keep ketchup, eggs or cheese in the refrigerator? If you're scant on space, here's what's safe to clear out.
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We are NARFE! Join us!
The National Active and Retired Federal Employees Association is the only membership organization solely dedicated to protecting and preserving the benefits of all federal workers and retirees. NARFE is your legislative voice and your information resource.

Visit NARFE on the Web at www.narfe.org.



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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
Bianca Gibson, Executive Editor, 469.420.2611   Contribute news
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