President Trump signed a memo last month to allow employers to defer payment of employee-side social security payroll taxes, to provide relief to workers during the coronavirus pandemic. Below are the answers to some frequently asked questions.
Blended Retirement: Round 2 On June 23rd, 2020, Senator Patty Murray (D-WA), a senior member of the Senate Veterans’ Affairs Committee, introduced the Re-Open Enrollment for Servicemembers to Opt-In to Updated Retirement Choice for Enduring Security (RESOURCES) Act of 2020, which “would promote financial security for military families by improving financial training,” according to a… Read more »
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To get veterans and their spouses back to work, top VA lawmakers introduced a bipartisan, bicameral bill ––the Veterans Economic Recovery Act. Learn more.
Veterans’ Mortgage Life (VMLI) If you have a service-connected disability that the VA concluded was caused or made worse by your service, you may be eligible for a Veterans’ Mortgage Life Insurance (VMLI) policy. In the event of your death, this insurance can help your family pay off the home mortgage that has been adapted… Read more »
The Thrift Savings Plan (TSP) is a retirement savings and investment plan for federal employees. The plan is also available for members of the uniformed services, including the Ready Reserve. Congress established the Thrift Savings Plan in the Federal Employees’ Retirement System Act of 1986. The TSP offers savings and tax benefits that private corporations… Read more »
Maximizing Your Thrift Savings Plan Retirement Fund The Thrift Savings Plan (TSP) offers similar retirement savings and tax benefits that many private corporations provide their employees under their 401-K plans. (Learn the full ins and outs of the TSP here.) Not sure how to best utilize your TSP? Here are some tips… Why TSP? The… Read more »
Service Members Now Have More Options to Invest in TSP The Thrift Savings Plan will retire one fund and add six new funds on July 1st. The six new TSP options consist of L Funds or lifecycle funds which are crafted to allow investors to balance returns and risk on their TSP portfolio of holdings…. Read more »
Top Personal Budget Plans Monthly budgeting can be a tedious task, but acknowledging that there’s no one perfect way of doing it leaves room for comfort. There are countless ways to control personal finances, depending on income bracket, amount of debt you’re in, desire for control over your finances, or simply personal preference. If you’re… Read more »
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law to address the effect of the COVID-19 pandemic on the U.S. economy by “providing fast and direct economic assistance for American workers and families.” For most Americans, this included stimulus checks, additional unemployment payments, tax-filing extensions and insurance coverage of virus-related treatments. But for service members and veterans with a VA home loan, there are some additional benefits the CARES Act provides.