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.
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.
The objective of L funds is to provide a balance between risk and return combined with an employee’s future retirement year. The L Funds are designed to make life a little easier for federal employees by taking the guesswork out of trying to diversify and rebalance TSP allocations for retirement planning.
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.
Considering Early Federal Retirement? You should know what happens to your benefits when you retire before you are eligible for your full benefit package?
People often wonder about the best date to retire so that … Read More
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Before the presidential elections took place last year, many federal employees were of the opinion that they would leave their jobs if presidential candidate Donald Trump was chosen for the oval office. Well, the elections are over now and he … Read More
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The police retirement accounts remained underfunded in the Davenport County, Iowa for a few months due to an error. The problem has been rectified after the union members asked it to be fixed. Compensation has also been made to all … Read More
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A recent study has revealed that employers who wish for better retirement benefits for their employees must train their employees on retirement savings. The study also revealed that boomers and low-income workers were the worst among those who got an … 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 Dothard2017-02-17 09:12:582017-02-17 09:12:58Retirement Education is the Key to Better Retirement Benefits: Study