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Bill Important for Pay, COLAs

For general schedule employees, the key provision of the treasury-postal measure is that it provides funds for a 3.7 percent average raise in January; wage grade employees would have their fiscal 2001 increases capped at the average GS amount. Continue ›

COLA Count Slips

The accumulated cost-of-living adjustment for federal retirees to be paid in January has slipped back to 3.2 percent, following a drop of 0.1 percentage points in August in the Consumer Price Index measure used to set that COLA. Continue ›

Long-Term Care/Retirement Fix Bill Signing

President Clinton has signed a bill that would create a long-term care insurance group benefit for federal employees as well as create a mechanism for correcting the problem of enrollments in the wrong retirement systems that occurred some years back. Continue ›

FEHB Rates to Jump Average 10.5 Percent Next Year

The Office of Personnel Management has announced that 2001 premiums for the Federal Employees Health Benefits program will rise an average 10.5 percent over this year's rates. Continue ›

OPM: Prescription Drugs Costs Largely to Blame

"The largest contributor to the FEHB premium increase is the rising cost of prescription drugs, which accounts for about 40 percent of the total rise," says the Office of Personnel Management. Continue ›

Prescription Drug Test Falls Through

A program viewed as a possible test of ways to better leverage the FEHB population’s size into commanding lower costs for prescription drugs in the program has been called off because several of the large drug manufacturers refused to go along. Continue ›

2001 FEHB Cost Averages

FEHB enrollees who have self-only coverage will pay about $3.50 more biweekly in 2001, while those with family coverage will pay $9.00 more biweekly. Continue ›

Health Premium Conversion Reminder

Effective October 1, most executive branch employees will become eligible for a tax break through the new "premium conversion" arrangement under the Federal Employees Health Benefits program. Continue ›

Opt-Out Considerations

For FERS Employees
Premium conversion will reduce the taxable Social Security wage base for FERS employees, with a resulting reduction in Social Security benefits for those under the Social Security maximum taxable wage ($76,200 in 2000). Continue ›

One Other Consideration . . .

Participating in "premium conversion" will have a minor effect on enrollment rights that some employees might wish to consider. Continue ›

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federal employee benefits

TSP Fund Performance