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March 6, 2021

Federal Employee Retirement and Benefits News

Recent Stories

What you need to do when eligibility for disability and retirement benefits overlap

Social security provides a disability benefit to people who can't work due to a confirmed medical condition. This medical condition must last for a minimum of one year or lead to death. When there is high unemployment, there is an...

Consider Retiring at Any of These 3 Ages if You Want More Money in Retirement

According to data from the Empower Survey Institute, running out of money in retirement is a major concern for both current retirees and potential retirees. Unfortunately, it’s a valid concern as most seniors face the risk of running out of...

Covid-19 pandemic has caused billions of dollars to flow out of the TSP

Federal government officials coordinating the 401(k) savings program revealed that about $3 billion flew out of the Thrift Savings Plan (TSP) due to the Covid-19 pandemic. According to the CARES act, TSP participants can take loans up to twice the...

The downside of cashing out retirement plan assets

Reasons why you should consolidate your retirement plan accounts   Anytime you change your job, you have the chance to decide whether you will maintain your retirement account or not. You may choose to take out your money, cash it...

What you should know about borrowing or withdrawing from your 401(k) plan account

Suppose you plan to take a 401(k) loan; you must be sure that you are qualified to borrow from your plan. You can check your eligibility by reading through your summary plan description or checking with your 401(k) plan’s administrator....

These 7 Questions Will Help You Determine Whether You Are Ready For Retirement

The saying that timing is everything is especially true regarding retirement planning. The Covid-19 pandemic has thrown many people's retirement plans into disarray. Many people wanted to retire in a few years and may have already mapped out their retirement...

Retirement Planning: How to Prioritize Your 401(K), HSA, and Roth IRA Contributions

Typically, investors are often neck-deep into searching for the ideal stocks, ETFs, or mutual funds. But figuring out the best type of retirement account you should be funding and in what order is just as important, especially if you're fortunate...

What Would a Change in Social Security Retirement Age Mean For Benefits?, by Todd Carmack

For many retirees, Social Security remains an integral part of their retirement income. But the Social Security fund is running low, and a report released estimates that there may only be enough funds to pay 79 percent of Social Security...

These Three Retirement Expenses Can Derail Your Budget, by Leslie “Kathy” Hollingsworth

Housing, transportation, and food often take prime position in retirement planning. But while these expenses may often be predictable, some could end up costing more than expected. Here are three expenses that can wreck your retirement budget.   1. Taxes...

Can You Retire With a Nest Egg of $100,000 or Less?

The goal of every potential retiree is to have enough saved up to be able to retire comfortably. But this is often very challenging. A report by the Employee Benefit Research Institute shows that around 65% of Americans have less...

Are You Enrolled in the Medicare Advantage Plan? Here Are Four Reasons You May Want to Switch Your Plan

If you are a retiree or a potential retiree, healthcare may probably be one of your largest expenses. And it’s not an expense you can choose to avoid or settle for less. If a retiree enrolls in Medicare Part D...

Everything You Should Know About Saving For Retirement in 2021

Each year, the IRS adjusts the retirement contribution limits. Keeping up with these changes is essential for your saving progress, especially if you qualify for catch-up contributions or if you are flirting with the imposed limits. Below are some essential...

Workers Could Lose $100,000 Through 3 Simple Social Security Mistakes

In 2021, millions of Americans will again rely on Social Security for a significant portion of their retirement income. In addition to retired workers, many disabled Americans also see Social Security as a much-needed lifeline. Despite the popularity of this...

2021 Changes for Medicare, Social Security, and Retirement Plans, by RICK VIADER

As if learning all about Social Security and Medicare wasn’t hard enough, each new year brings with it several changes. Well, 2021 is no different, regardless of the global pandemic and a messy presidential election. Don’t worry, we’re going to...

4 Reasons Why Saving Solely to a 401(k) is a Bad Idea

Investing in a 401(k) plan is amongst the simplest ways to save for retirement. Once you decide on the amount of contributions to be making monthly, the amount is automatically deducted from your paycheck each month. You are building wealth...

7 Things You Need to do if You Want to Retire in 2021

Many people want to have a comfortable retirement, and you’d like your retirement to be free from major snags. Planning for retirement is challenging due to factors such as the affordability of healthcare, market volatility, and even COVID-19 risks. You...

Should You Retire in 2021? These Four Reasons Suggest You Should, by Leslie “Kathy” Hollingsworth

Should you retire this year? This is a big question, and one we know is playing on the minds of many. There’s uncertainty in the economy and a pandemic that doesn’t seem to be going anywhere; this is planting seeds...

2021 Increase for Medicare Surcharges and Premiums, by Todd Carmack

As we enter 2021, it’s sometimes difficult to keep up with all the changes to Medicare. Don’t worry, we have everything you need to know in this guide. For example, it starts with a $4 increase to all Part B...

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