Latest news with #FederalEmployeesRetirementSystem
Business Insider
10-07-2025
- Business
- Business Insider
Independence Benefits Helps Federal Employees Navigate Retirement Amid VSIP Offers, TSP Volatility, and FEGLI Cost Increases
Florence, United States, July 10th, 2025, FinanceWire As early retirement incentives and agency budget shifts continue across federal departments in 2025, Independence Benefits has announced expanded support for federal employees evaluating complex benefit decisions. The Alabama-based firm provides personalized retirement consultations for employees covered under the Federal Employees Retirement System (FERS), with sessions focused on helping workers assess their options related to pensions, Thrift Savings Plan (TSP) withdrawals, Social Security timing, and life insurance coverage. 'This year has created real uncertainty for many federal workers,' said Christopher Lee, Founder and Retirement Planner at Independence Benefits. 'From VERA and VSIP offers to adverse market conditions, employees are facing decisions they've never had to make before. We help them evaluate their options with clarity.' The firm has seen a noticeable increase in demand from agencies such as the Department of Veterans Affairs (VA), Social Security Administration (SSA), U.S. Postal Service (USPS), and Department of Defense (DoD), where many employees are exploring early-out offers or preparing for standard retirement. Each consultation includes an individualized review of: FERS pension estimates and survivor benefit elections TSP withdrawal and rollover strategies tailored to income needs Social Security filing timelines and long-term impact FEGLI comparisons and alternative insurance options 'We break it down step-by-step, without pressure,' Lee added. 'The goal is clarity, not sales.' Unlike group-sponsored programs, Independence Benefits operates independently and is not affiliated with any specific insurance carrier or government agency. This allows for education-first support designed to help federal employees navigate benefit choices with confidence. The firm has also released a library of planning tools and content for those nearing their Minimum Retirement Age (MRA) or evaluating early-out programs such as VSIP and VERA. To learn more or request a retirement consultation, users can visit: About Independence Benefits Independence Benefits is an independent retirement services firm focused on the needs of federal employees. Based in Florence, Alabama, the firm offers one-on-one consultations that include pension reviews, insurance comparisons, TSP withdrawal strategies, and timeline planning. All services are delivered by licensed professionals and structured to provide educational, neutral guidance. Contact Christopher Lee
Yahoo
24-06-2025
- Politics
- Yahoo
Senate parliamentarian's no-go list: 12 pieces struck from Trump's megabill
The Senate parliamentarian has rejected several controversial provisions in the GOP's tax and spending package over the past few days. Senate Majority Leader John Thune (R-S.D.) aims to have the 'big, beautiful bill' on President Trump's desk by July 4. But first, some of the megabill's most controversial aspects must undergo the 'Byrd bath,' a challenge of whether they are eligible to be part of a reconciliation package that can pass with a 51-vote majority. Republicans can still retool the provisions in an attempt to address the conflicts and resubmit them for review. Parliamentarian Elizabeth MacDonough has ruled several parts of the tax and spending legislation violate Senate rules and must taken out. Here's a look at what didn't make the initial cut: MacDonough ruled against language that proposed increasing the Federal Employees Retirement System contribution rate for new civil servants who refuse to become at-will employees. She argued the provision violates the Byrd Rule, which bars provisions that are considered 'extraneous' to the federal budget. The megabill originally included language that gave states the authority to conduct border security and immigration enforcement, a responsibility that has traditionally fallen on the federal government. MacDonough rejected this language, ruling it violates the Byrd Rule. The parliamentarian rejected a measure in the bill that would have made it harder for courts to enforce lawsuits against the Trump administration. The measure targeted preliminary injunctions and temporary restraining orders issued by federal judges against Trump's executive orders and other directives. MacDonough argued that limiting courts' ability to hold Trump in contempt violates Senate rules. Last week, MacDonough ruled against a measure that prevented immigrants who are not yet citizens or lawful permanent residents from participating in the Supplemental Nutrition Assistance Program (SNAP). She also rejected another SNAP-related provision that required states to pay a percentage of food assistance under SNAP depending on their individual error rates in delivering food aid. The provision required states to pay between 5 percent and 15 percent of food benefits in 2028, depending on their error rate. Nearly every state has had SNAP error rates of 6 percent or higher. MacDonough pushed back against a Republican measure that sought to extend the suspension of permanent price authority, which has traditionally been a part of the farm bill. The original bill had attempted to end a long-held farm bill practice in which farm commodity programs — the network of subsidies for products such as dairy, corn or rice — that underpin large-scale U.S. agriculture expire every few years, effectively forcing congressional Republicans back to the negotiating table annually to participate in the grand bargain of SNAP and conservation funding in return for farm welfare. The measure knocked down by the parliamentarian would have extended those subsidies past their normal cutoff to expire in 2031 — which advocates of sustainable agriculture and SNAP warn would have removed any need for farm state legislators to pass any farm bill this decade, because they would have gotten what they needed. While this would be within bounds of a normal farm bill, the Senate parliamentarian ruled that legislators couldn't do it through reconciliation, and would therefore need to come up with 60 votes. MacDonough has ruled against a provision that would have essentially eliminated the Consumer Financial Protection Bureau (CFPB) by placing a cap on its funding. The provision would have lowered the agency's maximum funding to zero percent of the Federal Reserve's operating expenses. She also ruled against several other measures that fell under the control of the Senate Banking Committee, Senate Environment and Public Works Committee, and the Senate Armed Services Committee. One would have cut $1.4 billion in federal costs by lowering the Federal Reserve staff pay. MacDonough also rejected measures that proposed cutting more than $1 billion in costs by slashing the Office of Financial Research funding and getting rid of the Public Company Accounting Oversight Board. The Senate's parliamentarian ruled against a provision championed by Sen. Mike Lee (R-Utah) that would have sold off millions of acres of Forest Service and Bureau of Land Management land in up to 11 states. Lee, in a post on the social platform X, said he would revamp the plan. The new legislation will still sell off land owned by the Bureau of Land Management — but not that owned by the Forest Service. He also said he would 'SIGNIFICANTLY REDUCE' the amount of land in the bill, limiting it only to lands within 5 miles of a population center. MacDonough blocked a provision that would deem offshore oil and gas projects as automatically compliant with the National Environmental Policy Act. She also rejected a measure in the bill that required offshore oil and gas leases to be issued to successful bidders within 90 days after their sale. She also said Republicans could not include a provision in the bill that requires the Interior secretary to OK the construction of Ambler Road, a more than 200-mile-long access road that would facilitate the development of four large mines and hundreds of smaller mines in northern Alaska. The bill originally contained language that sought to undo Biden administration rules meant to encourage electric vehicle use. The Senate parliamentarian rejected a provision that would force the General Service Administration, which handles the equipment used by government agencies, to sell all the eclectic vehicles used by the U.S. Postal Service. However, a policy that would rescind funds passed by Democrats to allow the Postal Service to purchase extra electric vehicles and charges is still in the bill. The bill targeted several Environmental Protection Agency (EPA) regulations, including one that restricts air pollution emissions from passenger vehicles. MacDonough said late last week that Republicans could not include that measure in the 'big, beautiful bill.' Republicans also wanted to change the National Environmental Policy Act to allow project developers to fast-track environmental reviews or prevent judicial reviews if they paid a one-time fee, according to Politico. MacDonough ruled against the measure. MacDonough also said Republicans could not include a modified version of the REINS Act in the bill. The measure would have increased congressional power over big regulations, according to Axios. Saul Elbein contributed. Originally published at 6:05 p.m. on June 23 Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The Hill
23-06-2025
- Politics
- The Hill
Here's what the Senate parliamentarian has struck from Trump's megabill
The Senate parliamentarian has rejected several controversial provisions in the GOP's 'big beautiful bill' over the last few days. Senate Majority Leader John Thune (R-S.D.) aims to have the bill on President Trump's desk by July 4. But first, some of the megabill's most controversial aspects must undergo the so-called 'Byrd bath,' meaning they aren't eligible to be part of a reconciliation package that can pass with a 51-vote majority. Parliamentarian Elizabeth MacDonough has ruled several parts of the tax and spending legislation violate Senate rules and must taken out. Here's a look at what didn't make the cut: MacDonough ruled against language that proposed increasing the Federal Employees Retirement System's contribution rate for new civil servants who refuse to become at-will employees. She argued that the provision violates the Byrd Rule, which bars provisions that are considered 'extraneous' to the federal budget. The megabill originally included language that gave states the authority to conduct border security and immigration enforcement, which is a responsibility that has traditionally fallen on the federal government. However, MacDonough rejected this language, ruling it violates the Byrd Rule. MacDonough ruled that the measure violates the Byrd Rule. The parliamentarian rejected a measure in the bill that would have made it harder for courts to enforce lawsuits against the Trump administration. The measure targeted preliminary injunctions and temporary restraining orders issued by federal judges against Trump's executive orders and other directives. MacDonough argued that limiting courts' ability to hold Trump in contempt violates Senate rules. Last week, MacDonough ruled against a measure in the 'big beautiful bill' that prevented immigrants who are not yet citizens and lawful permanent residents from participating in the Supplemental Nutrition Assistance Program. She also rejected another SNAP-related provision that required states to pay a percentage of food assistance under SNAP depending on their individual error rates in delivering food aid. The provision required states to pay between 5 percent and 15 percent of food benefits in 2028, depending on their error rate. Nearly every state has had SNAP error rates of 6 percent or higher. MacDonough pushed back against a Republican measure that sought to extend the suspension of permanent price authority, which has traditionally been a part of the Farm Bill. The original bill had attempted to end a long-held Farm Bill practice in which farm commodity programs — the network of subsidies for products like dairy, corn or rice — that underpin large-scale U.S. agriculture expire every few years, effectively forcing congressional Republicans back to the negotiating table every year to participate in the grand bargain of SNAP and conservation funding in return for farm welfare. The measure knocked down by the Parliamentarian would have extended those subsidies past their normal cutoff to expire in 2031 — which advocates of sustainable agriculture and SNAP warn would have removed any need for farm state legislators to pass any Farm Bill this decade, because they would have gotten what they needed. While this would be within bounds of a normal Farm Bill, the Senate Parliamentarian ruled that legislators couldn't do it through reconciliation, and would therefore need to come up with 60 votes. MacDonough has ruled against a provision that would have essentially eliminated the CFPB by placing a cap on its funding. The provision would have lowered the agency's maximum funding to zero percent of the Federal Reserve's operating expenses. She also ruled against several other measures that fell under the control of the Senate committees on Banking, Environment and Public Works, and Armed Services. One would have cut $1.4 billion in federal costs by lowering the Federal Reserve staff pay. MacDonough also rejected measures that proposed cutting more than $1 billion in costs by slashing the Office of Financial Research funding and getting rid of the Public Company Accounting Oversight Board. The bill originally contained language that sought to undo Biden administration rules meant to encourage electric vehicle use. The Senate parliamentarian rejected a provision that would force the General Service Administration, which handles the equipment used by government agencies, to sell all the eclectic vehicles used by the U.S. Postal Service. However, a policy that would rescind funds passed by Democrats to allow the Postal Service to purchase extra electric vehicles and charges is still in the bill. The bill targeted several EPA regulations, including one that restricts air pollution emissions from passenger vehicles. MacDonough said late last week that Republicans could not include that measure in the 'big, beautiful bill.' Republicans also wanted to change the National Environmental Policy Act to allow project developers to fast-track environmental reviews or prevent judicial reviews if they paid a one-time fee, according to Politico. MacDonough ruled against the measure. MacDonough also said Republicans could not include a modified version of the REINS Act in the bill. The measure would have increased congressional power over big regulations, according to Axios.
Yahoo
26-03-2025
- Business
- Yahoo
What we know about claim DOGE stopped payments to children whose parents died
On March 22, 2025, Barry Kaufmann, president of the New York State Alliance for Retired Americans, said (archived) at a rally in White Plains, New York, that Small Business Administration loans "discovered" (archived) by the Department of Government Efficiency paid to children 11 or younger were actually "survivor benefit annuities" — using the same SBA acronym — paid to children whose parents had died. Kaufmann said (at 44:10): As an example, DOGE claims to have found Social Security loans going to 11-year-olds and under. Not! SBA is not a loan, it's a survivor benefit annuity to young children whose parents have passed. That's the problem with IT programmers and billionaires without a clue doing jobs they don't understand. You can't find what you don't know. Kaufmann's claim spread across Facebook (archived), X (archived), Threads (archived), Reddit (archived) and Bluesky (archived). However, it was unclear how Kaufmann backed his claim about the confusion over the two different SBAs. While it is almost certain from his wording that he was referring to DOGE's SBA loan announcement on March 9, the claim of the funding belonging to the survivor benefit annuity — a benefit paid to eligible spouses, or sometimes children, of federal retirees — clashes with what federal officials have said. The Small Business Administration confirmed the existence of more than "5,500 loans, totaling about $312M" to businesses "whose only listed owner was 11 years old or younger" on March 12 — 10 days before Kaufmann's claim. DOGE had said it was working with the SBA to "solve this problem." We have reached out to Kaufmann and the SBA to further understand the claim and await their replies. A survivor benefit annuity is a benefit available to federal employees under the Civil Service Retirement System and the Federal Employees Retirement System. The benefit is normally paid to surviving spouses or ex-spouses, but according to the Office of Personnel Management (OPM), the federal government's central human-resources agency, children can be eligible if they are dependent on the retiree who chose the benefit. "Dependent" in this context means that the deceased "made regular and substantial contributions to the child's support." We reached out to the OPM, which manages the federal retirement plans, to ask how much money it paid to children 11 or younger under this benefit in 2020-21, when DOGE said the loans were paid out, and await a reply. Meanwhile, the details surrounding the loans allegedly discovered by DOGE remained unclear. The @DOGE or @DOGE_SBA X accounts, the former of which is generally used for DOGE's public communications, had not posted more information at the time of this writing. The SBA had not provided further details about the loans at the time of this writing. "Kaufmann: DOGE Claims to Have Found Social Security Loans Going to 11 Year Olds and Under. ." Bluesky, 22 Mar. 2025, An Autistic Witch. Learning witchcraft at every level. "Automatically Assuming SBA Payments Means 'Small Business Association' Loans and Not 'Survivor Benefits Annuity'." Facebook, 24 Mar. 2025, @Clobean4. "Kaufmann - "DOGE Claims to Have Found Social Security Loans Going to 11 Year Olds and Under." X, 24 Mar. 2025, @DOGE. "In 2020-2021, SBA Granted 5,593 Loans for $312M to Borrowers Whose Only Listed Owner Was 11 Years Old or Younger at the Time of the Loan." X, 9 Mar. 2025, FEBA. "Understanding Your Federal Employee Benefits | What Is a Survivor Benefit Annuity?" FEBA, 10 Aug. 2023, Give A Shift About Nature. "DOGE Claims to Have Found Social Security Loans Going to 11-Year-Olds and Under. ." Facebook, 23 Mar. 2025, "Learn More about Survivor Benefits and Retirement." U.S. Office of Personnel Management, Accessed 25 Mar. 2025. @seedanesti. "Elon Musk Told Millions of People That 8 and 11 Year Old Children Were Receiving Business Loans from Social Security." Threads, 20 Mar. 2025, Social Security Works. "Hands Off Social Security." Facebook, 22 Mar. 2025, u/RoyalChris. "Kaufmann - ' 'DOGE Claims to Have Found Social Security Loans Going to 11 Year Olds and Under." Reddit, 22 Mar. 2025,
