Federal Benefits Updates for 2024 For Your Benefit

January 8, 2024 on ForYourBenefit, our host Bob Leins, CPA® welcomes Herb Casey, Federal Benefits Specialist.
Topics include:
Income

COLA for FERS and CSRS retirees

Salary pay raises & new locality rates

Social Security

Maximum amount of earnings subject to Social Security tax

COLA

Earning limitations

FEHB Insurances

Increased premiums

12 fewer plans

Medicare

Rising premiums for Medicare

Expansion of mental health coverage

Federal Long-Term Care Insurance Program
Increasing premiums
Thrift Savings Plan (TSP)

Contribution limits

Secure 2.0 changes

For questions or comments, email us in advance at ForYourBenefit@nitpinc.com