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Federal Employees News Digest : Oct 28, 2013
Federal Benefits Q&A Question: "I retired in 2013, which is the year I turned 55 (Law Enforcement/Firefighter). I opted to withdraw a dollar amount (4 percent) from my Thrift Savings Plan account for the first year. I would like to change the monthly payment amount. Can I make a change to the dollar amount I withdraw once per year, without a tax penalty?" Answer: Yes, a TSP account owner who is receiving fixed monthly payments is allowed to change the monthly amount received once each year without any tax penalty. Form TSP-73 is used to make this change. If you want your monthly payment amount change to take effect starting with the January 2014 check, then you must file Form TSP-73 no later than Dec. 15, 2013. 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. Thrift SavingsPlanSharePrices FUNDS OCT. 22 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 14.2268 14.1981 13.9855 15.8875 15.6652 15.9561 22.5645 21.9546 18.0322 32.2562 30.9864 23.4591 25.2659 24.3821 19.9541 16.6269 16.4818 15.6287 21.3046 20.9065 18.5494 22.8142 22.2871 19.2257 24.0660 23.4331 19.8026 13.5850 13.1878 10.9255 October 28, 2013 Vol. 63, No. 15 9 Visit us on the Internet at www.FederalDaily.com continued from page 5 Office of Budget and Management to help in administering pay and benefits to employees, including furloughed and excepted employees, who were affected by the lapse in appropriations. The document covers a range of issues that may have arisen during the 16-day shutdown, with guidance concerning pay, leave accrual of furloughed employ- ees, excused absences, preapproved leave without pay, Family and Medical Leave Act leave, donated annual leave, holi- days, alternative work schedules, retire- ment deductions and actions, the Thrift Savings Plan, unemployment com- pensation, flexible spending accounts (FSAFEDS), and all the federal health, dental, vision, life and long-term care insurance programs. See the guidance at: www.chcoc.gov/ files/2013-Furlough-and-Pay-and-Leave- Benefits.pdf. Key number to set COLAs coming Oct. 30 The Bureau of Labor statistics is slated to release the statistic used to calcu- late federal retirees' 2014 cost-of-living adjustment on Oct. 30. The release of the September Consumer Price Index (CPI) was originally slated for Oct. 16. The number is central to the formu- las used to determine annual COLAs for federal and military retirees, as well as COLAs for those receiving Social Security and veterans' benefits. Due to a lapse in funding during the shutdown, the bureau's normal data collection, analysis and dissemination activities were suspended from Oct. 1 through Oct. 16. The release of the CPI data is among many postponed data releases for 2013 that have been resched- uled, BLS said. The list is at: www.bls.gov/bls/updated_ release_schedule.htm.
Oct 21, 2013
Nov 4, 2013