PLANNING FOR RETIREMENT: Bill Tierney
The link below is an older article, but still very timely. Once you open the link, the additional links on the right side are current with tons of good info for FERS and CSRS employees who plan to retire in next few years. Many thanks to Bill Tierney for providing the information.
HANG ON A LITTLE LONGER: from OPM.gov
We are currently experiencing high call volumes and longer than normal wait times on the Retirement Information Office Toll Free number (888-767-6738). Our highest call volume is on Monday and Tuesday mornings. If you would like to minimize your wait time, consider calling the Retirement Information Office outside of these hours. Our hours are Monday - Friday 7:40AM EST to 5:00PM EST. As long as you are in queue at 5:00PM, your call will be answered. Also, consider using our Customer Support Center at www.opm.gov/support/retirement/, contacting us via email at email@example.com, or our self-service tool Services Online at www.servicesonline.opm.gov.
RETIRING? Copied www.myfederalretirement.com
Federal retirement expert, Ed Zurndorfer, outlines actions that FERS-covered employees retiring in late December 2020 or CSRS/CSRS Offset-covered employees retiring in early January 2021 should consider performing to make sure their transition into retirement is as financially beneficial and smooth as possible. Click here for the Checklist for Federal Employees Retiring in Late December or Early January
OR NOT RETIRING: copied www.myfederalretirement.com
Keep track of your 2021 leave with this handy calendar downloadable in PDF. 2021 Federal Leave Chart / Record / Calendar
EMERGENCY 2021 COLA PROPOSED BY LAWMAKERS:
In response to the Social Security Administration's announcement of a 1.3 percent cost-of-living adjustment (COLA) for 2021, two lawmakers have introduced emergency legislation calling to increase the amount of next year's COLA. If passed, the proposed bill (HR 8598) would provide a 3 percent cost-of-living adjustment for Social Security and Supplemental Security Income to recipients in 2021. The annual COLA also affects the annuities of federal retirees in the Civil Service Retirement System (CSRS) and Federal Employees Retirement System (FERS).
"Social Security is our country's number one financial security program, and, because of the COVID-19 pandemic, people are depending on it now more than ever," said House Ways and Means Social Security Subcommittee Chairman John B Larson (D-CT). "Seniors are seeing a rise in food, medical, housing costs and more, and a 1.3 percent cost of living adjustment (COLA) is just not enough during these difficult times." According to The Senior Citizens League, while COLAs averaged 3 percent between 1999 and 2009, over the past decade the annual COLAs have averaged just 1.4 percent. Larson introduced the legislation along with Congressman Peter DeFazio (D-OR). Free subscriptions are here
USPS RETIREE E-NEWSLETTER: info from Bill Tierney and other sources
As part of the Postal Service's effort to keep us updated on information and resources that may be valuable to us as a retiree, the Postal Service offers a Retiree E-Newsletter. The electronic newsletter will include important information needed as a retiree that relates to benefits, wellness, financial education, and more. It is free! Here is the link to sign up: Sign up now ». And here is a link to view past issues: View past issues.
During the Retiree meeting held at the Legislative Summit, several questions arose pertaining to Medicare reimbursements, dental and vision insurance, choosing the right health plan.. "Checkbook" is provided by the www.keepingposted.org newsletter as a tool to help select the right health plan for your needs and in your Zip Code. Here is the link that provides information, and helps you rank the plans for you and your family, compare plans by total out-of-pocket costs, quality, catastrophic limits, and more: Go to Checkbook Guide to Health Plans. You may be required to register. If so, enter your name as the name you used at last office before retirement. Enter the office that you retired from. Enter your email address. Here is another link to give detailed information on dental and vision insurance: https://www.keepingposted.org/health-benefits.htm.