NARFE: Stimulus Deal Includes Important Relief for Seniors

FOR IMMEDIATE RELEASE
March 25, 2020          


Alexandria, Va. In response to the major economic stimulus and health care funding deal reached today pertaining to COVID-19, NARFE National President Ken Thomas issued the following statement:

“Lawmakers heeded NARFE’s call to provide protection to seniors facing requirements to withdraw a far greater percentage of their retirement accounts than expected, which would have forced many to sell assets at stock values depressed by the current crisis. The common-sense suspension of required minimum distributions from retirement accounts in 2020 will help seniors retain a greater portion of their retirement savings, which have no doubt taken a hit amid the stock market downturn.

“NARFE is also pleased that the bill’s cash payments to individuals will be provided to retirees, as well as those working or unemployed. Not only are seniors dealing with the frightening threat of COVID-19 infection, they must also manage the economic repercussions from retirement investment losses.

“Finally, NARFE is encouraged by increased funding for the Office of Personnel Management to allow for electronic retirement applications, now essential during a time of increased telework. While this is long overdue, it is our hope that this additional funding will be the jumping off point to fully digitize retirement processing. New retirees deserve to have their federal careers honored by the timely processing of their retirement applications.”

                                                          # # #

As the only organization solely dedicated to the general welfare of all federal workers and retirees, NARFE delivers valuable guidance, timely resources and powerful advocacy. For nearly a century, NARFE has been a trusted source of knowledge for the federal community, Capitol Hill, the executive branch and the media.

CONTACT:
Jill Talley
NARFE Director of Public Relations
jtalley@narfe.org
(571)483-1291

National Active and Retired

FEDERAL EMPLOYEES Association

NARFE (National Active and Retired Federal Employees Association) 606 N. Washington St., Alexandria, VA 22314, Phone: (703) 838-7760, Fax: (703) 838-7785.

 

This is the only website that reflects the official opinions and positions of the National Active and Retired Federal Employees Association (NARFE). Opinions and/or positions that appear on any other site bearing NARFE's name or seal are not necessarily those of NARFE. Click here for Privacy Statement.   NARFE has been certified by Dun & Bradstreet.

NARFE: Stimulus Deal Includes Important Relief for Seniors

FOR IMMEDIATE RELEASE
March 25, 2020          


Alexandria, Va. In response to the major economic stimulus and health care funding deal reached today pertaining to COVID-19, NARFE National President Ken Thomas issued the following statement:

“Lawmakers heeded NARFE’s call to provide protection to seniors facing requirements to withdraw a far greater percentage of their retirement accounts than expected, which would have forced many to sell assets at stock values depressed by the current crisis. The common-sense suspension of required minimum distributions from retirement accounts in 2020 will help seniors retain a greater portion of their retirement savings, which have no doubt taken a hit amid the stock market downturn.

“NARFE is also pleased that the bill’s cash payments to individuals will be provided to retirees, as well as those working or unemployed. Not only are seniors dealing with the frightening threat of COVID-19 infection, they must also manage the economic repercussions from retirement investment losses.

“Finally, NARFE is encouraged by increased funding for the Office of Personnel Management to allow for electronic retirement applications, now essential during a time of increased telework. While this is long overdue, it is our hope that this additional funding will be the jumping off point to fully digitize retirement processing. New retirees deserve to have their federal careers honored by the timely processing of their retirement applications.”

                                                          # # #

As the only organization solely dedicated to the general welfare of all federal workers and retirees, NARFE delivers valuable guidance, timely resources and powerful advocacy. For nearly a century, NARFE has been a trusted source of knowledge for the federal community, Capitol Hill, the executive branch and the media.

CONTACT:
Jill Talley
NARFE Director of Public Relations
jtalley@narfe.org
(571)483-1291



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NARFE (National Active and Retired Federal Employees Association) 606 N. Washington St., Alexandria, VA 22314, Phone: (703) 838-7760, Fax: (703) 838-7785.

 

This is the only website that reflects the official opinions and positions of the National Active and Retired Federal Employees Association (NARFE). Opinions and/or positions that appear on any other site bearing NARFE's name or seal are not necessarily those of NARFE. Click here for Privacy Statement.   NARFE has been certified by Dun & Bradstreet.