What New Federal Retirees Should Know

Jan 24, 2018

Entering retirement can be full of unknowns; how much is your monthly annuity? Are taxes withheld? Will insurance continue? This post looks to answer some of the questions that are common for federal retirees, and more. First Payments For Retirees OPM begins to...

A Chained CPI and What It Means for COLA’s

Jan 23, 2018

A new tax reform bill references a chained CPI and is bringing changes to most taxpayers. So, what is the chained CPI, what does it have to do with retirement income for a fed, and what does the new tax reform bill have to do with a chained CPI? Chained CPI A consumer...

Thrift Savings Plan–Effects of Non-Pay Status on Your Account

Jan 22, 2018

So far in this series, we have covered the basics of the Thrift Saving Plan, employee and agency contributions, the differences between Traditional and Roth TSP accounts, loans, in-service and post-separation withdrawals, and life annuities, and taxes of...

Federal Employees Dental and Vision Program (FEDVIP)

Jan 18, 2018

Dental and vision benefits are available to eligible federal and postal employees, retirees, and their eligible family members. Both dental and vision insurance can be purchased on a group basis which means competitive premiums and no pre-existing condition...

Thrift Savings Plan–Taxes and IRS Withdrawal Penatlies

Jan 15, 2018

So far in this series, we have covered the basics of the Thrift Saving Plan, employee and agency contributions, the differences between Traditional and Roth TSP accounts, loans, in-service and post-separation withdrawals, and life annuities. This post focuses on taxes...

Federal Employees’ Group Life Insurance

Jan 12, 2018

FEGLI is a benefit available to federal employees and may seem confusing if you don’t know much about your options. In most cases, you are automatically covered by Basic Life insurance unless you decline it. In addition to Basic, there are 3 forms of FEGLI Optional...

IT Positions That Remain Open in a Government Shutdown

Jan 10, 2018

While Congress passed another stopgap funding bill recently, its 3rd since October 1, 2017, it only funds the government until January 19. Which means questions of another shutdown, and who exactly must work during one, will begin to surface soon. Those in IT...

Thrift Savings Plan–Life Annuities Purchased by TSP

Jan 8, 2018

So far in this series, we have covered the basics of the Thrift Saving Plan, employee and agency contributions, the differences between Traditional and Roth TSP accounts, loans, in-service and post-separation withdrawals. This post will look at another type of...

Do You Need Medicare if You’re Covered Under FEHB?

Jan 5, 2018

If you are a federal employee age 65 or older, you are eligible to enroll in Medicare. Enrollment in the Federal Employee Health Benefits Program has great benefits, so often, federal employees don’t see the need for Medicare. However, Medicare demands enrollment and...

Have a TSP Withdrawal Plan in Place When You’re Ready to Retire

Jan 3, 2018

We’re entering the peak season of federal employees filing for retirement. January and February are historically the months where the Office of Personnel Management receives the highest number of retirement claims. Along with filing for retirement, federal employees...

Avoid Over-Payments and Watch Out for Offsets

Dec 15, 2017

If you are a federal worker who is eligible for more than one type of disability (i.e. disability retirement, social security disability, workers’ compensation, etc.), pay special attention to benefit interactions and offsets. Sometimes, not knowing these...

Thrift Savings Plan–Loans, Withdrawals, and Refunds–Part 3

Dec 14, 2017

So far in this series, we have covered the basics of the Thrift Saving Plan, employee and agency contributions, and the differences between Traditional and Roth TSP accounts. The next couple of posts will look at loans, in-service and post-separation withdrawals, and...