The Thrift Savings Plan (TSP) may be the most important federal retirement benefits a federal employee has access to. Along with potential federal employer contribution matching, federal employees may also be able to defer a significant portion of their income and therefore income tax to future years. Read more about TSP Funds, Roth TSP and other important TSP considerations.
As a federal employee, the idea of retiring from federal employment can be frightening and confusing. Whether you have FERS, CSRS, eligibility, TSP, FEHB or general federal retirement related questions you need to educate yourself on your federal retirement benefits. Read the Retirement Guide
The Federal Employees’ Retirement System (FERS) is the current retirement system for US federal civilian employees. Eligibility for FERS retirement benefits is determined by your age at retirement, your number of years of creditable service, your ‘High-3’ income and in some cases, other special requirements. FERS eligible federal employees will also need to know how their Social Security benefits them.
Eligibility for Civil Service Retirement System (CSRS) retirement benefits is determined by your age at retirement, your number of years of creditable service, your ‘High-3’ income and in some cases, other special requirements. CSRS eligible federal employees need to know how to maximize their CSRS federal retirement benefits.
The Federal Employees Group Life Insurance (FEGLI) program offers federal life insurance coverage to over nine million federal civilian employees, retirees, former employees, family members and former spouses. FEGLI is voluntary and paid for through employee and employer contributions.
Federal Employee Annuities
For federal employees your CSRS Annuity or your FERS Annuity will be a very large part of your federal retirement benefits. Because of the different federal annuity calculations it is recommended that people approaching federal retirement learn all they can about their potential annuity payments and ways they can maximize their federal annuities.
Social Security Benefits for federal employees are impacted by your length of service and also the federal retirement system that you are eligible for, FERS or CSRS. Because Social Security is such a vital part of many people’s retirement income this is a must read for federal employees approaching retirement.
Federal employees and retirees have unique financial planning needs and concerns. From selecting a financial planner who understands the federal retirement systems, to choosing the appropriate Health and Federal Life Insurance options, this section touches on each of the most important federal retirement topics so you can approach your federal retirement correctly.
A a survivor of a federal employee or federal retiree you will face many choices and options as you attempt to piece together the federal benefits you may be eligible for. Educating yourself on these federal benefits and the appropriate selections can be critical to ensure you receive everything that you are eligible for.
Benefits and Insurance
As you enter your federal retirement your Federal Employees Group Life Insurance (FEGLI) coverages, your Federal Employees Health Benefits (FEHB) selections along with your other federal benefits will all be pushed to the foreground as you are prompted to make decisions that will impact the rest of your life. FEGLI, FEHB, Medicare and other topics are approached in this section.
Forms and Publications
As you approach federal retirement you will need to use forms from your Agency employer and also OPM and others. This section will provide you with a the most commonly used federal retirement, federal insurance, and Thrift Savings Plan (TSP) forms.
Although taking retirement early may sound appealing to many people, doing so could end up being detrimental to your retirement income situation - especially in terms of your FERS (Federal Employees Retirement System) Special Retirement Supplement (SRS) benefit.
Looking for good information on your Postal and Federal Employee Retirement benefits?
Federal Employees are invited to use Public Sector Retirement, LLC (www.PSRetirement.com) to gain the answers they need and deserve regarding their Federal employee and postal employee retirement benefits. Federal retirees and their spouses and children can access comprehensive information about their federal employee retirement benefits and how how to protect, invest and grow their financial assets while attempting to maximize their federal employee retirement benefits. PSRetirement.com covers the full range of federal retirement benefits available for federal employees and postal employees including their federal annuities, FEHB (health insurance), FEGLI (life insurance) and the Thrift Savings Plan (TSP).
How You Can Make the Most Out of Your Federal Employee Retirement.
PSRetirement.com can also help you gain access to independent federal employee retirement experts who can offer guidance to federal employees just like you. PSRetirement.com will also make available some of the relevant links, such as TSP.gov, FSAFEDS and LiteBlue.usps.gov for additional information and to help you gain access to the knowledge you need as you plan for or enjoy your retirement.
New Jersey is trying hard to keep its residents inside the state. One change it has initiated in this regard is to offer a retirement income tax break that is five times more than it … Read More
http://i1.wp.com/www.psretirement.com/wp-content/uploads/2016/07/banner-_2-1.jpg?fit=300%2C250250300Michael Rismanhttp://www.psretirement.com/wp-content/uploads/2013/06/cropped-logo.pngMichael Risman2016-10-16 07:29:102016-10-17 07:33:02Retirement Income Tax Break of New Jersey to increase fivefold
A study has found out that Millennials have become more eager to save money now in order to get better retirement benefits in the future. Experts believe that they are also feeling vulnerable about the long-term security. Millennials are more … Read More
http://i0.wp.com/www.psretirement.com/wp-content/uploads/2016/05/RetirementBenefits_v1_140516.jpg?fit=300%2C250250300Sonny Dothardhttp://www.psretirement.com/wp-content/uploads/2013/06/cropped-logo.pngSonny Dothard2016-10-15 07:26:012016-10-17 07:28:29Millennials Eager to Save More Now for Better Retirement Benefits
Several politicians have urged the OPM to delay federal long-term-care insurance program price hike but the agency has simply rejected the request. It says that if the prices are not increased now, they will increase further in the future. On … Read More
http://i0.wp.com/www.psretirement.com/wp-content/uploads/2016/05/banner_1.jpg?fit=300%2C250250300Sonny Dothardhttp://www.psretirement.com/wp-content/uploads/2013/06/cropped-logo.pngSonny Dothard2016-10-14 13:25:132016-10-14 13:25:13OPM will not Delay Federal Long-Term-Care Insurance Program Price Hike
American workers were asked what they would expect their next President to focus on with regards to retirement benefits. Many workers agreed on several things they expect from the government. They hope for a steady flow of the social … Read More
http://i2.wp.com/www.psretirement.com/wp-content/uploads/2016/09/Hillary-Clinton-Donald-Trump.jpg?fit=2115%2C145314532115Michael Rismanhttp://www.psretirement.com/wp-content/uploads/2013/06/cropped-logo.pngMichael Risman2016-10-13 13:08:412016-10-13 16:17:08What do American Workers want from the Next President regarding Retirement Benefits?