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Federal Benefits Updates for 2024

Federal Benefits Updates for 2024

Update: 2024-01-08
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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

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Federal Benefits Updates for 2024

Federal Benefits Updates for 2024

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