Quiz #19: Federal Pay Raise, Social Security, and Retirement

Serving Those Who Serve’s latest quiz on federal employee retirement benefits

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Created on August 12, 2022 By Benefits Ben

Quiz #19: Pay Raises, Social Security, and ,Retirement

Take our latest quiz on federal employee retirement benefits!

1 / 3

How are annual federal employee pay raises finalized?

government budgetary measure

law ratified by congress and signed by the president

executive order by the president

all of the above

It can happen by any of the three methods listed, however it usually happens via a budgetary measure of executive order. Read More Here.

2 / 3

If a person collects social security retirement benefits, and the amount is higher than their ex-spouse’s benefit amount, they can still collect a portion of their ex-spouse’s social security?

YES

NO

NO. Assuming an individual is eligible to collect a portion of an ex-spouse’s benefit otherwise, any benefit they’re entitled to has to be less than their ex’s. Read More Here.

3 / 3

Of the entire federal workforce, what percent will be eligible for retirement in 2023?

30%

14%

7.1%

50%

30% – up from 14% in 2018. Is the “retirement tsunami” on the horizon? Read More Here

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The average score is 59%

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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.

Federal Pay Raise, Social Security, and FERS Retirement