Federal Benefits Updates for 2024

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

Copyright © 2024 Federal News Network. All rights reserved. This website is not intended for users located within the European Economic Area.