After 10 years in Congress, Rep. Cheri Bustos (D-Ill.) announced Friday that she will not run for reelection in 2022.
“Today, I’m announcing I will not seek reelection after completing this term,” Bustos said in a video statement first obtained by HuffPost. “It will be a new decade, and I feel it’s time for a new voice.”
It’s not clear what Bustos plans to do next.
In an interview on Friday, Bustos told HuffPost that nothing in particular was driving her decision to go. She said she tends to make big changes every 10 years ― she worked as a reporter and then an editor for about two decades, and then in health care for 10 years ― and felt it was time for another shift.
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A weekly roundup of pay and benefits news.
The Office of Personnel Management this week issued regulations implementing a 2018 law to ensure that agencies can pay interest on federal employees’ behalf if the agency is responsible for an error in calculating the cost of an optional retirement benefit related to military or volunteer service.
A provision of the 2018 Correcting Miscalculations in Veterans’ Pensions Act allows agencies to make payments on behalf of federal workers to cover for administrative mistakes that led those employees to underpay for an optional retirement annuity benefit.
Currently, federal employees in the Civil Service Retirement System or the Federal Employees Retirement System who have served in the military after 1956 or volunteered in the Peace Corps or Volunteers in Service to America have the option to pay a deposit plus interest to their agency for their service in order to continue to receive retirement credit
How to Avoid Buyer’s Remorse
Federal retirees should understand the ins and outs of each retirement system, especially if they have been misclassified.
Retirement Counseling and Training www.retirefederal.com
We’ve all experienced buyer’s remorse at one time or another. You buy something new only to discover there’s a better version of what you just purchased, or maybe you just have second thoughts about your choices. In some cases, you bought the wrong thing and find there’s no simple fix for a costly mistake. The same thing can happen in retirement planning.
Maybe, you’ve felt buyer’s remorse after moving your TSP into a different fund right before a big increase in the account where you were previously invested. A less frequent but more significant issue occurs when a federal employee is placed incorrectly in the wrong retirement system. Fortunately, when this happens, employees generally have a period of time when they have the option to move into th
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Don’t shred important records you may need when it comes time to retire.
Retirement Counseling and Training www.retirefederal.com
Growing up in Pennsylvania, I can still remember coming home from school at this time of year to find the windows open and all the curtains taken down and hanging outside on the clothesline. My mom loved to keep her home smelling fresh and clean, so spring cleaning was an important task to her.
For many people, part of spring cleaning is getting rid of the clutter around their homes. My dear friend Georgia has been on a decluttering frenzy as she prepares to sell the home where she and her late husband raised their two daughters. She was inspired by the book, The Gentle Art of Swedish Death Cleaning: How to Free Yourself and Your Family from a Lifetime of Clutter. Georgia calls this process “letting go,” and admits decluttering is not easy. But once you get started it gets easier.
Government Executive
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A weekly roundup of pay and benefits news.
Organizations representing federal employees and retirees are hopeful that a controversial tax rule that limits the Social Security benefits of former feds who have spent time in the private sector could soon be a thing of the past, thanks to two bills making their way through Congress.
The windfall elimination provision reduces the Social Security benefits of retired federal, state and local government employees who worked in private sector jobs in addition to a government job where Social Security is not intended as an element of their retirement income, like employees in the Civil Service Retirement System.