Federal Benefits Advisory Group

01/30/2025

🚨 Fork in the Road: Major Changes for Federal Employees 🚨

Recent OPM announcements are bringing big changes to the federal workforce, including:

✅ Mandatory Return to Office – Remote work is ending for most employees.
✅ Workforce Restructuring – Downsizing & realignments could impact job security.
✅ Deferred Resignation Program – Eligible employees can voluntarily resign while keeping pay & benefits until Sept 30, 2025.
✅ New Performance & Conduct Standards – Stricter policies may affect promotions & accountability.

📌 If you're wondering how this impacts your retirement & benefits, our advisors are here to help.
Source: https://www.opm.gov/fork

01/16/2025

🚨 Big news for federal retirees and public sector employees! 🚨

President Biden has signed the Social Security Fairness Act into law, repealing the WEP and GPO. This means:

✅ Full Social Security benefits restored for millions, including federal retirees, teachers, firefighters, and police officers
✅ Retroactive payments for 2024, with lump sums to eligible recipients
✅ Monthly benefits increasing—on average by $360 for retirees, with even more for spouses and survivors

The Social Security Administration is working on implementation, so now’s the time to ensure your My Social Security account is up to date!

If you’re a federal retiree or expect to receive both a pension and Social Security benefits, this change could significantly impact your retirement income.

📞 Have questions? We're here to help! Call us at 385-229-3632.

11/19/2024

ATTENTION FEDERAL EMPLOYEES ages 60–63: Starting January 1, 2025, a new SECURE Act 2.0 provision allows you to contribute a new higher catch-up limit of $11,250 which is 50% more than the regular catch-up limit.

In 2025, the total TSP contribution limit could reach $34,750 for eligible participants!

What to Know 👉
New Catch-Up Limit: $11,250 which is 50% more than the regular catch-up limit for 2025!
Eligibility: TSP participants who turn ages 60, 61, 62, or 63 in the calendar year
Effective Date: January 1, 2025

Learn more: Schedule an appointment to discuss your retirement strategy at https://calendly.com/federal-benefits-advisory-group or call us at 385-229-3632.

For more information, visit https://www.tsp.gov/bulletins/24-2/

08/23/2024

Did you know?

The Federal Benefits Advisory Group hosts monthly complimentary educational webinars for federal employees. At no cost to employees and available anywhere in the US we offer the tools and information to fully take advantage of your federal benefits. Register for our next event here or contact us for your next training.

https://us02web.zoom.us/webinar/register/1017244317529/WN_yyglkHQiR7aXhWD2rxt7vA

This online training is designed to provide you with crucial information pertaining to your federal benefits prior to and during retirement.

08/15/2024

Are you a federal employee curious about your changes in income? It's important to be well-informed about changes such as the ones coming to COLA for 2025. Click the link below to be better informed or call us today to learn about how these changes affect you.

https://www.fedsmith.com/2024/08/14/comparing-2025-cola-federal-pay-raise/

It is the time of year when federal employees and retirees start thinking about the COLA and annual pay raise. What are the likely figures for 2025?

08/07/2024

The OPM backlog for Federal Employees continues to creep up for the 2nd straight month even though government resources have been allocated to help relieve this tension. Learn more about its effects here: https://www.govexec.com/pay-benefits/2024/08/opms-retirement-backlog-continued-creep-higher-july/398611/

The Office of Personnel Management processed nearly 500 fewer retirement requests than it received last month, causing its backlog to inch up for the second straight month.

07/29/2024

Properly paying your employees? The OPM just finalized new rulings on Federal Employee income. Read more inside.

https://www.govexec.com/pay-benefits/2024/07/opm-finalizes-rule-ensure-temporarily-promoted-feds-are-paid-properly/398332/

A two-decades old Office of Personnel Management advisory opinion capping increased pay for federal workers temporarily performing duties of a higher-graded position at 120 days inadvertently penalized workers rather than their errant employer.

07/16/2024

New policies and initiatives can change the lives of federal employees. You can learn about how these changes affect you and the OPM here.

https://www.pbs.org/newshour/politics/new-rule-strengthening-federal-job-protections-could-counter-trump-promises-to-remake-the-government

Advocates hope the rule will head off former President Donald Trump's promises to radically remake the federal workforce along ideological lines if he wins back the White House.

07/10/2024

Can federal employees take part in political campaign activities? Election season do’s and don’ts

https://www.govexec.com/workforce/2024/07/can-federal-employees-take-part-political-campaign-activities-election-dos-and-donts/378118/

The third installment in a series about the rules and policies federal employees should know ahead of the elections.

07/01/2024

TSP Returns in 2024: C Fund Roaring in First Six Months to Lead All Funds
Take a quick look at "the best-performing fund among the Thrift Savings Plan (TSP) core stock funds."

https://www.fedsmith.com/2024/06/29/tsp-c-fund-roaring-in-2024/

Large tech companies have been surging in 2024. This surge has benefited the C Fund, the TSP's most popular fund.

06/24/2024

Do you understand the difference between a Traditional TSP and a Roth TSP? If you don't, this quick read will help guide your decision-making process.

Many federal employees ask which Thrift Savings is more appropriate to contribute to. Ed Zurndorfer discusses seven of these considerations — including tax consequences and required minimum distributions (RMDs). Practical examples are included

06/10/2024

Great News! All funds in the Thrift Savings Plan (TSP) saw positive returns for May. This is immediately after April's negative performance, which was painful for some.

C Fund: Up 4.96% bringing YTD to 11.29%

I Fund: 4.86 return bringing YTD to 7.59%

S Fund: 3.36 return bringing YTD to 3.38%

F Fund: 1.69% return, but sadly still 1.56% in red for YTD