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Federal Employees News Digest : Sep 9, 2013
September 9, 2013 Vol. 63, No. 8 8 Visit us on the Internet at www.FederalDaily.com Thrift SavingsPlanSharePrices FUNDS SEPT 3 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 14.1824 14.1559 13.9597 15.5281 15.6698 15.9507 21.0306 21.8745 17.6437 29.3910 30.6018 23.0732 22.8745 23.3213 18.9254 16.2955 16.3933 15.5139 20.3261 20.6861 18.2267 21.5158 22.0109 18.8252 22.5072 23.1126 19.3406 12.6018 12.9835 10.6379 Federal Benefits Q&A Question: "I am CSRS Offset. If I retire at age 62, delay taking Social Security until my full retirement age (66 and 2 months), and don't work from ages 62-66, will my Social Security still be increased? I realize my CSRS pension will still be offset by the amount of SS I earned under CSRS Offset (10 years), but am willing to take the hit if my SS will increase at FRA to the amount stated on the SS earnings statement." Answer: By waiting until your full retirement age (FRA) to receive the portion of your Social Security retirement benefit you earned outside federal service, you will receive a larger Social Security benefit because you are avoiding the reduction for age. But assuming you do not have at least 30 years of "substantial" Social Security wages outside federal service, your Social Security retire- ment benefit that you receive at your FRA will be subject to the Windfall Elimination Provision (WEP) and reduced (approximately 50 percent). 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 people with disabilities. "In a competitive job market, employ- ers need access to the best possible employees," said Secretary of Labor Thomas E. Perez. "These rules make it easier for employers to tap into a large, diverse pool of qualified candidates." One rule updates requirements under the Vietnam Era Veterans' Readjustment Assistance Act of 1974 to provide contractors with a "quan- tifiable metric" to measure success in recruiting and employing veterans. The changes require contractors to adopt a benchmark each year based either on the national percentage of vets in the workforce, which currently stands at 8 percent, or on their own benchmark based on "best available data." DOL said the new rule strength- ens accountability and recordkeeping requirements to make it easier for con- tractors to assess the effectiveness of their recruitment efforts. The other rule updates a section of the Rehabilitation Act of 1973 to intro- duce a hiring goal for federal contrac- tors and subcontractors that 7 percent of each job group in their workforce be qualified individuals with disabilities. That rule also includes specific actions contractors must take for recruitment, training, recordkeeping and policy dis- semination---actions which DOL said are similar to those already required to promote workplace equality for women and minorities. Both rules become effective 180 days after their publication in the Federal Register. Read the new rules at www.dol.gov/ ofccp/regs/compliance/vevraa.htm (vet- erans), and www.dol.gov/ofccp/regs/com- pliance/section503.htm (disabled).
Sep 2, 2013
Sep 16, 2013