When you retire, you’ll have the option of providing a survivor annuity for your beneficiaries (aka the Survivor Benefit). This benefit allows your spouse or someone with an insurable interest (depends on you financially) to receive a portion of your pension every month after you die. This is such an important decision for federal employeesContinue reading “Should Federal Employees Elect A Survivor Benefit?”
When you separate from federal service, you will have an important decision: should you leave your money in the Thrift Savings Plan or transfer it out (presumably to an IRA)? The bad news is there is no right answer for everyone, and it depends on your preferences and situation. But the good news is thatContinue reading “What To Consider Before Transferring Your TSP To An IRA”
In this video, Jose Armenta, CFP®, reviews the four reasons why many federal employees retire at age 62. For more on this topic read the related article here.
When federal employees are trying to choose a time to retire, they often hear that age 62 is the “magic” age for FERS employees. But why that? Well, although there is no magic retirement age that works for everyone, there are four significant incentives for FERS employees to wait until 62 to retire. So, let’sContinue reading “4 Reasons Why Federal Employees Retire At 62”
In this video, Jose Armenta, CFP®, reviews the requirements that must be met for your spouse to maintain Federal Employees Health Benefits (FEHB) coverage if you predecease them. If you’d like to learn more about carrying FEHB coverage into retirement, read this article.
As a federal employee, you know that you have a robust employee benefits package, and your likely aware that your Federal Employees Health Benefit (FEHB) coverage is a critical part of that package. But what happens to your FEHB coverage when you retire? Can you keep your coverage? Do your premiums increase? There is aContinue reading “What Happens To Your Federal Employee Health Benefits In Retirement?”
In this video, I’ll review how to calculate the FERS annuity and why it’s important to know. If you want to learn more about the FERS pension, read this article.
Although many federal employees believe that they must wait until age 59 ½ before taking penalty-free withdrawals from their TSP, that isn’t the case. In fact, there are a few different ways that federal employees can take withdrawals before 59 ½ and avoid the 10 percent penalty usually applied to early distributions. In this article,Continue reading “Withdrawing From Your TSP Early”
In this video, I’ll cover a few rules of thumb for contributing to your TSP. If you want to learn more about your TSP, read this article.
Among the many benefits of working in the Federal government is the Thrift Savings Plan (TSP). The TSP boasts fifteen broad-based investment options, including five individual funds (C, S, I, F, and G) and ten lifecycle funds. Although there is plenty of information available on the TSP’s funds, many Federal employees don’t understand the fundContinue reading “Understanding Your TSP’s Investment Options”