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Monthly Archives: September 2021

Tax Rules Associated with Employer-Sponsored Life Insurance, Includes FEGLI

09/29/2021
Understanding the Tax Rules Associated with Employer-Sponsored Life Insurance, Including FEGLI Edward A. Zurndorfer The tax treatment of an employer-sponsored life insurance plan can be complex. An example of an employer-sponsored life insurance plan is the federal government-sponsored Federal Employee ... Read More

Backlog of Federal Retirement Claims at OPM is Highest Since 2013

09/27/2021
The backlog of retirement claims sitting in OPM’s inventory is at levels not seen in over 8 years. Claiming retirement benefits after years of federal service requires a federal worker to submit a paper packet that is ultimately mailed to ... Read More

FEDLIFE PODCAST: Special Retirement Provisions for LEOs, FFs, & ATCs (Pt.1)

09/23/2021
Understanding the savings and benefits that you are entitled to receive can be overwhelming and confusing—sometimes it seems like finding the information you need is next to impossible. FEDLIFE Podcast, episode 57. Changes to the 2021 Child Tax Credit & ... Read More

What is FEGLI Option B? Don’t Get Stung in Retirement!

09/22/2021
Option B coverage in the Federal Group Life Insurance Plan can be fully kept after retiring from government service, but it gets costly as you get older. Once employed by the federal government in a position that is eligible for ... Read More

Roth TSP VS Traditional TSP

09/20/2021
The basics about matching, withdrawals, and taxation when it comes to the two types of accounts the Thrift Savings Plan offer Complimentary Webinars: Register Here Established almost 10 years ago, the Roth TSP is an option that, for certain Federal ... Read More

2022 Federal Pay Raise Update: White House Confirms 2.7% Salary Increase

09/16/2021
While the White House already recommended a 2.7% Federal Raise in its 2022 budget suggestions, the formal announcement supports the likelihood of a 2.2% across-the-board raise with a .5% locality pay increase. At the end of August, the Biden Administration ... Read More

OPM Announces New FEGLI Premiums Effective October 1, 2021

09/15/2021
FY 2022 begins in October – and so new Federal Employee Group Life Insurance premiums go into effect Edward A. Zurndorfer In Benefits Administration Letter (BAL) Number 21-204 dated September 9, 2021, the Office of Personnel Management announced new Federal ... Read More

IRS Urges Individuals to Prepare for Natural Disasters

09/14/2021
IRS Announces Tax Relief for Victims of California Wildfires and Hurricane Ida and Urges Individuals to Prepare for Natural Disasters Edward A. Zurndorfer- September has been designated as National Preparedness Month. With the height of hurricane season currently upon us ... Read More

FEDLIFE PODCAST: Effects of Part-Time Service on Federal Employment

09/10/2021
For federal employees, there are many aspects of financially preparing for retirement, and when you have worked part-time, it can become much more complicated. Episode 56: The Effects of Part-Time Employment on Your Retirement In this episode, Dan Sipe and ... Read More

US Cyber Command Moving to Joint Common Access Program

09/09/2021
Cybersecurity in the Federal Government: Offensive missions will be conducted via unified platform across the US Cyber Command by 2024. The US Cyber Command is a component of the Department of Defense. It includes three teams each from several military ... Read More