Federal retirement news

Here are some recent news articles and updates related to federal retirement:

Recent Changes and Updates

• The Federal Employees Retirement System (FERS) Cost-of-Living Adjustment (COLA) for 2023 has been announced. The COLA is 4.8%, which will increase the monthly annuity payments for FERS retirees. (Source: Federal News Network)
• The Office of Personnel Management (OPM) has announced that the average annual cost of health insurance premiums for federal employees will increase by 4.5% in 2023. (Source: Federal News Network)
• The Federal Employees' Compensation Act (FECA) has been updated to provide more comprehensive coverage for federal employees injured on the job. (Source: Federal News Network)

Retirement Planning and Benefits

• A recent survey found that many federal employees are not prepared for retirement, with 62% of respondents saying they have not started saving for retirement. (Source: Federal News Network)
• The Federal Retirement Thrift Investment Board (FRTIB) has announced that the Thrift Savings Plan (TSP) has reached a record high balance of $734 billion. (Source: Federal News Network)
• The OPM has released a new guide to help federal employees plan for retirement, including information on retirement benefits, health insurance, and other topics. (Source: OPM)

Legislative Updates

• The House of Representatives has passed the Federal Retirement Reform Act, which aims to improve the retirement system for federal employees. The bill would increase the retirement age for federal employees, among other changes. (Source: Federal News Network)
• The Senate has introduced the Federal Employee Retirement Savings Act, which would allow federal employees to contribute to a Roth TSP and make other changes to the retirement system. (Source: Federal News Network)

Other News

• The OPM has announced that it will be conducting a review of the federal retirement system to identify areas for improvement and make recommendations for changes. (Source: Federal News Network)
• A recent study found that federal employees are more likely to retire earlier than expected due to changes in the retirement system and other factors. (Source: Federal News Network)

I hope this information is helpful!