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January 19, 2022

Federal Employee Retirement and Benefits News

Recent Stories

Employer 401(k) Matching

By now, there’s no doubt that many people acknowledge the 401(K) plan as a powerful retirement savings vehicle. It offers benefits synonymous only to free money amongst others. Despite the importance of 401(k),  some people do not know about owning...

How to Retire with a Million Dollars

Retiring as a millionaire isn't as out-of-reach as it may appear. With a bit of saving, investing, and planning, you might be well on your way to a million dollars – or more – by the time you hit retirement...

Five Strategies to Get the Most Out of Your 401k

A 401(k) plan is among the best plans for your retirement savings, and it will give you more money in the future. Your employer sets one up and then matches your contributions to keep it full of money that can...

Here’s The Trickiest Retirement Choice You Can Make

Choices are what make up the entirety of life as federal or state workers approach their retirement period. Issues, such as decisions about the best retirement date, determining when to start filing for Social Security, and agreeing on how much...

Life Insurance Needs At Different Life Stages

There are challenges at every stage of life, whether you’re trying to work out your life, raising a family, growing your career, or preparing for retirement. But while each life stage may be unique, it is essential to ensure that...

19 Things You Should Give Up Now for a Comfortable Retirement Sponsored By:Flavio J. “Joe” Carreno

What are you ready to sacrifice right now to save for retirement? Principal posed this question to its retirement plan members who are "super savers," defined as those who saved 90% to 100% of the 402(g) IRS maximum contributions or...

Is Indexed Life Insurance Policy a Good Fit For You?

There are several options to choose from when buying a life insurance policy, so much so that it can be confusing to decide which one is right for you. Indexed life insurance is one of the options you’ll be offered....

TSP Millionaires Share Their Experience

There are currently over 84,000 TSP millionaires. This figure consists of retired as well as active federal workers. The figure is especially impressive since the number of TSP millionaires before March 2020 was 27,212 TSP. That figure is even more...
Public Sector Retirement - PSR - Here's Complete Information on Which States do and do Not Tax Income from Social Security Benefits

The Consolidated Appropriations Act – A Win For Permanent Life Insurers

Most life insurers have redesigned their permanent life insurance products due to the new calculations introduced via the Consolidated Appropriations Act, 2021 (H.R. 133). While the Act was mainly about spending and the stimulus check, it also included a provision...

Here are the Factors Limiting Millennials’ Retirement Savings

Millennials are both the most educated and ethnically diverse generation in the history of the United States. Unfortunately, they may also be the generation that's most unprepared for retirement. The Center for Retirement Research at Boston College compared millennials born...

How Much Money Could Your 401(k) Earn You if Maxed Out?

In your retirement savings plan, a 401(k) can be a useful tool. If you constantly take full advantage of its benefits, you should be in good shape when you reach your golden years. Employers who provide such accounts will be...
Public Sector Retirement - PSR - Effect of COVID-19 on the TSP

What if You Lose Contact with Your Pension Plan Participants?

Millions of Americans rely on pension plans to maintain track of their hard-earned benefits to ensure a comfortable retirement. However, investigations conducted by the United States Department of Labor in 2020 revealed that more than $1.4 billion in retirement benefits...

Which is Better: a 401(k) or an IRA?

Question: I'm a 27-year-old with a major investment dilemma. At my job, the firm matches 401(k) contributions up to 9 percent, which is excellent because I contribute enough to qualify for the match. I have around $60,000 in my 401(k). I...

Do You Really Need a Life Insurance Policy?

A life insurance policy is a contract between an insurance company and the policyholder. In essence, the contract mandates that in exchange for an agreed-upon insurance premium, the insurance company makes a payout to the insured’s beneficiaries when they die....

Boost Your Retirement Income and Earn More Sponsored By:Flavio J. “Joe” Carreno

Social security makes a large chunk of most retirees’ retirement savings. Most rely on it to fund their desired lifestyle in retirement. But is it ever enough? Several factors determine how much you earn from Social Security. The average amount...

Wondering Why Your 401(k) Isn’t Performing Well? This Explanation Might Surprise You.

Have you ever wondered why your 401(k) plan's investment options include low-performing or pricey mutual funds? No need to wonder anymore. Revenue-sharing has been determined to be the culprit, according to researchers.   A recently published paper states...
Public Sector Retirement - PSR - The TSP Budget for 2022 is a Slight Decrease from that of 2021

The Millionaire Story of TSP Account Balances

Thrift Savings Plan account balances have helped many people hit the $1 million mark. In 2020 alone, almost 26,000 TSP account owners hit the $1 million mark, going from 49,620 to 75,420 TSP account owners with at least $1,000,000 account...

The Leader States of the Pension Reform

Arizona, Michigan, and Texas are demonstrating how to build robust systems for government retirees. Since 2000, state and municipal debt has tripled, primarily due to unfunded public pension liabilities. State and local government pension systems are currently $1.5 trillion in...

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