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A new federal retirement savings program could boost wealth by up to 12% for eligible Americans, with single women and minorities standing to gain the most, according to a Morningstar report last ...
Feb. 6 marked the deadline for federal workers to accept the U.S. Office of Personnel Management (OPM) and the Trump Administration's offer of a buyout. These buyouts, or the option of "deferred ...
Department of Homeland Security. At least 405 employees have been cut from the Department of Homeland Security, a DHS official told ABC News.. The bulk of the cuts were at the Federal Emergency ...
The Federal Employees' Retirement System (FERS) is the retirement system for employees within the United States civil service. FERS [1] became effective January 1, 1987, to replace the Civil Service Retirement System (CSRS) and to conform federal retirement plans in line with those in the private sector. [2] FERS consists of three major components:
Since July 2022, federal employees have the option of investing in mutual funds that have holdings in sanctioned Chinese companies. [14] In November 2023, the Federal Retirement Thrift Investment Board switched the index for its international fund to one that excludes investments in companies in Hong Kong and mainland China. [15]
They said federal employees who were laid off would be offered early retirement. At a town hall in October, Musk said he would consider giving laid-off workers up to two years' severance.
A lawsuit filed by federal employee unions alleged that the deferred resignation offer violates the Administrative Procedure Act. [ 31 ] [ 32 ] On February 6, 2025, Judge George A. O'Toole Jr. of the U.S. District Court for the District of Massachusetts placed the deadline on hold pending a February 10 hearing.
NBC News cited a senior administration official who estimated that 5%-10% of the federal workforce could quit, leading to $100 billion in savings, a figure Reuters could not verify.