The Federal Employees Compensation Act (FECA) provides compensation benefits for federal workers in the case of an injury, disease, disability, or death from an employment related cause. It covers both full and part-time workers regardless of what branch they work in....
If retiring as a FERS employee, your pension starts on the first day of the following month after you retire. So, it makes sense to retire on the last day of the month, no matter what day of the week, right? Well, this is partly true. While the short answer may be...
Over the next few weeks, we will be looking at the difference between the Civil Service Retirement System (CSRS) and the Federal Employees Retirement Systems (FERS), specifically how they relate to Federal Disability Retirement. This post will focus on benefit offsets...
let's looks at the difference between the Civil Service Retirement System (CSRS) and the Federal Employees Retirement Systems (FERS), specifically how they relate to Federal Disability Retirement. This post will focus on the computation of benefits and benefit offsets...
When it comes to retirement, or the time leading up to it, planning is key! This cannot be stressed enough. Being unprepared for this time in your life may leave you with less income. Whether you want to travel the world in retirement or learn a new hobby, make sure...
Whether you’re a CSRS or FERS retiree, life events can have a significant impact on your retirement annuity. This post will focus on retirees under FERS. First, let’s look at what qualifies as a life event. Life events are anything that changes your situation or...
The Office of Personnel Management has released the 2016 Presidential Transition Guide. Close to 4,000 political appointees will soon be leaving office. The acting OPM Director, Beth Cobert issued a statement saying, “While the federal government begins preparation...
Planning for retirement can be a scary time. Many questions surround people as they start to think about retirement; Can I even afford to retire? When should I retire? Can I still have insurance coverage? Do I have to elect beneficiaries? Those, along with other...
In part one of this post, we looked at survivor benefits that are available to your beneficiaries. This post will focus more on the amount of each benefit. Survivor Annuity This benefit is the longest lasting of the survivor benefits and it is automatic for employees....
What Happens if I Leave Federal Service? Leaving federal service isn't an easy step to take, and you'll have to weigh all the details carefully. In some cases, the choice is not all that difficult: better hours and pay, closer commuting, better benefits, etc. However,...
Survivor benefits are difficult to understand and frankly, may not be thought of very often. However, that could be a mistake. Not choosing a beneficiary in the case that something happens to you may cause delays in the distribution of benefits. This could cause undue...
The Thrift Savings Plan (TSP) is available to federal employees and works very similar to a 401k. It is part of the three-tier FERS system, which also includes a pension and Social Security. So what happens if you leave federal service? Can your TSP move with you?...
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