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?...
The Special Security Supplement can be a tad confusing to understand. One of those reasons is because it has so many names; Bridge to 62, FERS Special Supplement, Special Retirement Supplement, Annuity Special Supplement, and Special Supplement. However, all these...
It is never too early to start thinking about retirement. Planning is key when it comes to this stage of life. Hiring a financial planner is a decision some federal employees choose to make. If this is something you are considering, make sure you find one who knows...
You are eligible for Federal Disability Retirement benefits after you have 18 months of creditable service. You must also meet the requirements laid out by OPM (Office of Personnel Management). Under the Federal Employees Retirement System (FERS), there are four types...
In a previous post, we looked at the interaction of FERS disability and SSD. Now we’re going to look at how FERS disability and OWCP (Office of Worker’s Compensation Programs) payments interact. Unlike Federal Disability Retirement, in order to receive OWCP payments,...
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