Legislation Introduced on Pension Offsets

There have been several bills introduced to change the formula used in the Windfall Elimination Provision and to eliminate the Government Pension Offset.

Older womanDuring this session, Congress has introduced several bills that seek to address the Windfall Elimination Provision (WEP) and to eliminate the Government Pension Offset (GPO) Social Security laws that can affect federal retirees with CSRS annuities. Continue reading “Legislation Introduced on Pension Offsets”

2019 Cost-of-Living Adjustment Information for Federal Retirees

Today, the 2019 cost-of-living adjustment information for federal retirees was announced.

RetirementToday, the Department of Labor announced cost-of-living-adjustment (COLA) information for federal benefits in 2019. CSRS annuitants will receive a 2.8 percent monthly increase starting with January 2019 benefit payments, while FERS retirees will see their monthly pensions adjusted by 2 percent. All Social Security beneficiaries will see their monthly benefits rise by 2.8 percent in January. Under current law, annual increases for FERS annuitants do not equal the full increase once the amount of the COLA is greater than 2 percent. Continue reading “2019 Cost-of-Living Adjustment Information for Federal Retirees”

Update on Retirement Proposals

The proposed budget released by the administration in February contained a series of damaging retirement proposals. So, what has happened since then?

person with fishing rod by a lakeShortly after Jeff Pon became Director of the Office of Personnel Management (OPM) in March, he asked Congress to act on the proposals. Then in June, the House Budget Committee issued a budget resolution on a party line vote for FY2019 that included portions of these proposals. However, so far Congress has not taken action, and the proposals remain proposals. Continue reading “Update on Retirement Proposals”