Federal Benefits Quiz: TSP, Taxes, and More

The 48th weekly quiz focuses on recent TSP performance, taxation of FERS and CSRS, and budgetary talks in Congress.

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Quiz #47

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Created on March 08, 2023 By Benefits Ben

Quiz 48 on Federal Benefits

This week’s quiz is about TSP performance, budget debates on Capitol Hill, and taxes for federal annuitants.

1 / 3

Which TSP fund has dropped over 10% in value from February 2022 – February 2023, but has gained 9.01% since the start of January 2023?

C

S

I

F

While the S Fund has dropped 10.63% over 12 months (as of 2/28/23), it is up 9.01% since the beginning of the year. Read More Here.

2 / 3

In negotiations over the federal budget, which of the following is not a proposal by Republicans in Congress?

Raising employee contributions to FERS

Raising FEHB premiums (by decreasing amount government contributes)

Eliminating the vaccine mandate for federal employees

Making cuts to Social Security and Medicare benefits

The answer is D. – the GOP has said cuts to Social Security and Medicare will not be included in negotiations over either the federal budget in general or the debt ceiling. Read More Here.

3 / 3

True or False: If you retired in October of 1996, you must use the IRS Simplified Method to calculate the tax-free portion of their CSRS or FERS annuity.

TRUE

FALSE

FALSE – only those who retired on or after November 19, 1996 must use the IRS Simplified Method to calculate the tax-free portion of their CSRS or FERS annuity.  Read More Here

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The average score is 36%

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**Written by Benjamin Derge, Financial Planner, ChFEBC℠ The information has been obtained from sources considered reliable but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Benjamin Derge and not necessarily those of RJFS or Raymond James. Links are being provided for information purposes only. Expressions of opinion are as of this date and are subject to change without notice. Raymond James is not affiliated with and does not endorse, authorize, or sponsor any of the listed websites or their respective sponsors.

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