Your Federal Life: Recent Episodes
Federal News Network | Hubbard Radio
Each week, Tom Temin, Drew Friedman and contributors to Federal News Network’s workforce coverage provide listeners with actionable information on the management of their careers and financial lives. Your Federal Life covers topics ranging from federal pay and benefits to retirement and retirement planning, hiring, career planning, and federal personnel policy.
In many ways, retirement after a federal career is all about the numbers. Do you have enough saved that, together with your annuity, you won't run out of money. In some ways, retirement is not about numbers at all. There's also the danger of being bored to death. Here with some non-monetary retirement advice, federal retiree and AG Financial Services owner Abe Grungold. Plus, federal employees haven't been able to purchase long term care insurance for the past couple of months. That's because the Office of Personnel Management suspended the program, pending the new plans and prices expected from the carrier. It's likely to be expensive. For what to expect, I spoke with the with the policy vice president at the National Active and Retired Federal Employees Association, John Hatton.
This week we start with a look at something the Thrift Savings Plan has been struggling with. Namely, mutual funds. In the belief that federal employees and retires might want a wider range of investment options, the TSP board instituted the so-called mutual fund window. Few people have actually used it. Now there's a gambit in Congress to bar sales of funds with a strategy relying on ESG, environment, social and governance concerns. For one analysis, I spoke with certified financial planner Art Stein. Plus, You're heard of the term cancel culture, getting rid of people with unpopular opinions. It's not all that new. The popular new movie Oppenheimer re-enacts the revocation of the scientist's security clearance in the 1950s because of his opposition to the hydrogen bomb. What about today? Can unorthodox opinions mean loss of clearance. I got some answers from the managing partner of the law firm Tully Rinckey, Dan Meyer.
Everyone with a Thrift Savings Plan account remembers the launch of the new customer web site last year. But a year on, the site operates a lot better. But everything is not perfect. For one expert analysis, I spoke with retired federal manager and the owner of AG Financial Services, Abe Grungold. We started with a brief review. Plus, it took years of back-and-forth. But Transportation Security Administration employees woke up to a pay increase just over one week ago. A big one. Earlier I spoke with Federal News Network’s Justin Doubleday about the details, the effect they’re having at TSA, and that sticky question of how the agency will continue to pay for it.
The Federal Employees Dental and Vision Insurance Program are now available to thousands more federal employees. The Office of Personnel Management has made that eligibility final. The change affects certain temporary, part-time and seasonal employees, as well as Postal Service employees. For details, Federal News Network's Drew Friedman and I spoke with Kevin Moss, editor of Consumers’ Checkbook Guide to Health Plans for Federal Employees. Plus, the crazy weather throughout the country seems to be reflected in Congress. On recess, when Congress returns it'll have 12 working days to workout a regular federal budget for 2024. Ain't gonna happen. Joining Fed Life to explore the possible consequences, the vice president for policy and programs at the National Active and Retired Federal Employees Association, John Hatton.
On today's episode, the Office of Personnel Management wants agencies to review their employee assistance plans, programs that offer psychological and substance abuse treatments. For details, Federal News Network's Drew Friedman spoke with OPM research psychologist Jorday Taswell. Plus, a recent Supreme Court case dealt with a piece of the law concerning qui tam False Claims Act claims. Qui tam is when a whistleblower sues on behalf of the government, and receives a share of any eventual settlement. I got the rundown from whistleblower attorney Steve Kohn.
A coalition of federal manager advocacy groups has been urging the White House and Congress to fix what they say is a systemic problem with federal pay. It's called compression. It mainly affects those at the upper ranks of federal career employees. An old provision in federal employment law means they aren't allowed to earn more than presidential appointees, and Congress has stubbornly held off giving them a raise. Federal News Network’s Drew Friedman gave us the latest. Plus, for Thrift Savings Plan investors, 2023 so far has brought a partial climb back out of the depths of 2022. It's a good time to separate the patient investors over here, and the would-be market-timers over there. We got more from certified financial planner Art Stein.
On today's episode, it's hard to believe the calendar year more than half over. It's a good time to review your financial life. For people in the Federal Employee Health Benefits Plans, open season isn't far off. Financial advisor Abe Grungold spoke with Federal News Network's Tom Temin about a few of the housekeeping tips to keep in mind at this mid-year point. Plus, difficult budget negotiations. Funding levels for the Office of Personnel Management. Federal pay debates. There's a lot to worry about these days. For one take, Tom spoke with National Active and Retired Federal Employees Association vice president John Hatton.
In today's episode of Fed Life, Drew Friedman and Tom Temin talk about two issues affecting federal employees, locality pay and developments in the Thrift Savings Plan and its web site. The Office of Personnel Management announced plans to establish four new locality pay areas. Its proposed rule also included plenty of other pay recommendations from the Federal Salary Council.
This week we'll hear about one way, not often used, for retirees, especially on the older end of the age spectrum, to keep some guaranteed income. I spoke with certified financial planner Art Stein about the pros and cons of fixed income annuities, not to be confused with your federal pension. Plus, Federal Executive Boards, known as FEB's, do lots of things to keep the federal machinery working in the big federal cities outside of Washington. Federal News Network's Drew Friedman got an update from the director of FEB's at the Office of Personnel Management, Anita Skinner.
For today's episode, we'll hear about one group of federal employees who earn a third less than their colleagues at the same GS level. And about half of what their state and local government counterparts earn. There's a legislative effort to fix all of that. But first, from financial advisor Abe Grungold, why you should give careful thought about retiring, even if the job does seem like a grind. Plus, a bill with bipartisan backing would give substantial raises to federal firefighters. Their union says they make close to minimum wage for this dangerous work For more on the Federal Fire Fighter Pay Equity Act, I spoke with the government affairs representative of the International Association of Firefighters, Greg Russell.
On today's episode of Fed Life, the end of the COVID-19 public health emergency brought some changes for enrollees in the Federal Employees Health Benefits Program. And that’s not all. Expect more long-term changes for FEHB participants too. To break it all down, Federal News Network’s Drew Friedman and Tom Temin are joined in studio by Kevin Moss, editor of Consumers’ Checkbook Guide to Health Plans for Federal Employees.
It's been one year since the Thrift Savings Plan underwent a major technology update. The changes offered TSP participants more virtual options, better cybersecurity and an entirely new My Account website. But the changes initially brought confusion and frustration for participants. They got mired in technical glitches, trouble navigating the new layout, and, hours-long hold times when trying to get help from TSP's customer service center. Many of the early issues have subsided, but the Federal Retirement Thrift Investment Board is still tweaking the new My Account website based on participants' feedback. Federal News Network's Drew Friedman heard more about the latest round of changes, and what's still to come for TSP, from the board's Director of External Affairs Kim Weaver. Plus, at the Veterans Affairs Department the word is out. Headquarters employees will have to spend at least half of the days in a pay period, five of ten days in the office. I got the details from Federal News Network's Jory Heckman. Also, from our own Jared Serbu, I got details of a Defense Department proposal to greatly expand a special pay rate for cybersecurity and IT people.