Mass Transit Benefit Will Drop In 2014

Mass Transit Benefit Will Drop In 2014

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The mass transit tax benefit used by thousands of federal employees will drop significantly in 2014, while the maximum parking benefit will increase by $5.

Beginning on Jan. 1, 2014, commuters will be able to use up to $130 in monthly pre-tax dollars to subsidize their mass transit costs — $115 less than the current maximum of $245 per month. The parking benefit will increase to $250 per month next year, up from the current $245 cap. Something similar happened in 2012, when the cap on the mass transit benefit was $125 per month, and the limit on the parking benefit was $240 per month.

The upcoming changes are a result of the 2012 American Taxpayer Relief Act, also known as the fiscal cliff deal. That law restored parity between the mass transit and parking benefits, but only for 2013. The mass transit increase for 2013 was temporary, which is why the cap will be smaller in 2014; the change for the monthly parking limit is a permanent provision in the law so the annual cost-of-living adjustment will boost the maximum benefit to $250 per month next year.

Continue reading “Mass Transit Benefit Will Drop In 2014”

April Brings a Reprieve in Federal Retirement Applications

April Brings a Reprieve in Federal Retirement Applications

The Office of Personnel Management got some breathing room last month to deal with the federal retirement backlog, receiving fewer new claims in April than expected.

OPM reported that it received 7,059 new retirement applications last month, slightly under the 8,000 it projected and the fewest so far in 2013, according to the latest statistics. The agency experienced an influx of 52,744 new claims between January and March alone, a 51 percent increase from the same period last year.

The backlog now stands at 30,080 claims, down 18 percent since March and 17 percent since January. Continue reading “April Brings a Reprieve in Federal Retirement Applications”

Retirement claims surge in September

Retirement claims surge in September

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The Office of Personnel Management processed more retirement claims in September than in August, after receiving thousands more applications last month.

OPM completed 12,563 retirement claims in September — the most claims processed in a single month so far this year and 1,063 more than it expected to complete last month. The agency received 11,952 new claims in September, 4,952 more than it anticipated, and 2,979 more than it received in August. The backlog now stands at 41,176 claims, down 33 percent since January. Continue reading “Retirement claims surge in September”

Human resource executives: Tight budgets, brain drain challenge federal workforce

Agencies ‘bracing for change,’ according to survey

September 03, 2012|By Gus G. Sentementes, The Baltimore Sun

With baby boomers hitting retirement age, federal agencies expect challenging years ahead in grooming the next crop of leaders, managing heavier workloads, and attracting skilled professionals to work for the government, according to a recent survey of federal executives.

Fifty-five federal executives told the Partnership for Public Service that their main challenges were declining budgets, high turnover due in part to retirements, inadequate leadership and succession planning and competency gaps in human resources and agency leadership skills. Continue reading “Human resource executives: Tight budgets, brain drain challenge federal workforce”