Many federal employees are aware of the survivor annuity benefit elected at retirement and understand that it allows them to leave a portion of their FERS pension to a beneficiary upon their death. But few are aware of the child survivor annuity benefit. Although both may sound similar, the survivor annuity elected at retirement andContinue reading “The FERS Child Survivor Annuity Benefit”
Category Archives: Survivor Benefit
What Federal Employees Should Do 1 Year Before Retirement
Although, as a federal employee, you should begin planning for retirement years before you hand in your application, the year before retirement is critical to set yourself up for the transition. This period is essential since you’ll have limited time to review your finances and make decisions that will affect the rest of your life.Continue reading “What Federal Employees Should Do 1 Year Before Retirement”
How Do The FERS COLAs Work?￼
As a federal employee, one of your greatest benefits is your FERS pension, and one of the greatest aspects of your pension is the cost-of-living adjustments (COLAs) applied while you’re in retirement. The reason these COLAs are such a powerful part of your pension is that they will help you maintain your standard of livingContinue reading “How Do The FERS COLAs Work?￼”
How Much Of Your FERS Pension Will You Keep?
When planning your federal retirement, you’ll need to calculate your FERS pension and should request an estimate from your HR. But often, these projections don’t represent what will actually be deposited into your bank account. The reason for this discrepancy is that most individuals calculate their gross pension, not their net pension, and even yourContinue reading “How Much Of Your FERS Pension Will You Keep?”
Should Federal Employees Elect A Survivor Benefit?
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?”