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Federal Employees News Digest : Aug 19, 2013
August 19, 2013 Vol. 63, No. 5 8 Visit us on the Internet at www.FederalDaily.com Thrift SavingsPlanSharePrices FUNDS AUG 12 ONE MONTH AGO ONE YEAR AGO G Fund F Fund C Fund S Fund I Fund Lifecycle Funds L Income L 2020 L 2030 L 2040 L 2050 Register free to get rates of return and other TSP info at: www.FederalDaily.com/pages/resources/thrift-savings-plan.aspx 14.1642 14.1385 13.9497 15.6773 15.5998 15.8798 21.6359 21.4817 17.6091 30.3563 29.7722 22.7872 23.3245 22.6241 18.9127 16.3755 16.2997 15.4913 20.6132 20.4141 18.1818 21.9092 21.6518 18.7678 22.9878 22.6823 19.2723 12.9050 12.7120 10.5979 Federal Benefits Q&A Question: “I am in CSRS. If I retire on Jan. 3, 2014—which is halfway through a pay period—will I be able to contribute that entire half-paycheck to the Thrift Savings Plan for 2014? (I mean, of course, the part of the half-paycheck that isn't deducted from for taxes, pension and health insurance premiums). I understand that I can't contribute any of my annual-leave payout to TSP. I am only talking about actual pay." Answer: Yes, if you retire on Jan. 3, 2014, you can contribute your entire “net” paycheck - gross salary (for the five days of pay period 26) less deductions for: (1) CSRS retirement; (2) Medicare Part A (hospital insurance); and (3) the various premiums for the federal insurance plans you are enrolled in. Also, keep in mind that because you are retiring Jan. 3, 2014, you can contribute almost all of the paycheck for pay period 25 (which ends Dec. 28, 2013) into the TSP. This is because the paycheck for pay period 25 will be dated in January 2014. Readers are encouraged to ask questions related to general employee benefits---such as CSRS, FERS, the Thrift Savings Plan, tax and estate planning, insurance, Social Security and Medicare---at the "Federal Benefits Q&A" at www.FederalSoup.com. continued from page 5 ments," Rolando said in a statement. "The sharp improvement over 2012 reflects the fact that the opportunities offered by the Internet (delivering goods ordered online) increasingly are offsetting Internet challenges (online bill-paying), which augurs well for the future." To see more, go to: www.nalc.org/news/ latest/2013-08-09_q3fy2013-report.html and http://about.usps.com/news/national-releas- es/2013/pr13_063.htm. AFGE blasts DOD pension proposal The president of the American Federation of Government Employees condemned a Pentagon proposal that would change pension rules for military retirees who go to work for the federal government. The proposal is contained in the Defense Department's Strategic Choices and Management Review, and is one of many potential cost-saving measures DOD pro- posed to help the department meet budget levels demanded by sequestration. The DOD proposal to eliminate civilian pensions for retired military personnel serving in civilian government service is one of the "sweeping changes to meet sequester-level targets" Defense Secretary Chuck Hagel identified in a recent speech on the review. AFGE National President J. David Cox Sr., however, tore into the proposal. "The Pentagon is full of draconian pro- posals for slashing the wages, benefits and jobs of its own employees, but this proposal stoops to a new low," Cox said in a state- ment. "To deny basic retirement benefits to retired military members who continue to serve their country as civilian employees is a slap in the face to every man and woman who has ever worn the uniform." According to the union, more than 134,000 military retirees currently work for DOD as civilian employees. AFGE said the proposal "would single out those employees by denying them the same retirement benefits afforded to other civil servants." To see more, go to: http://www.defense. gov/Speeches/Speech.aspx?SpeechID=1798.
Aug 12, 2013
Aug 26, 2013