Sooner or later, you will separate from federal service, and whether you are called to retirement or the prospects of the private sector, you’ll have to decide what to do with your Thrift Savings Plan. While many federal employees will opt to transfer their TSP to an IRA, many will choose to keep their nestContinue reading “Contributing To Your TSP After Separating From Federal Service”
Tag Archives: federal employee benefits
3 Early Retirement Options For Federal Employees
For some federal employees working until they’re eligible for the traditional FERS, retirement just isn’t in the cards. And while retiring after 20 or 30 years of uninterrupted service is usually uncomplicated, there is often confusion about what early retirement options are available. So, this week, we will review three early retirement options: postponed, deferred,Continue reading “3 Early Retirement Options For Federal Employees”
Quickstart Guide To The Federal Long Term Care Insurance Program
Most federal employees know someone who has required long-term care at some point in their life. Whether a family member or a friend, we’ve seen how some individuals need support with daily tasks due to chronic illness, injury, disability, or simply the aging process. In fact, a 2019 U.S. Department of Health and Human ServicesContinue reading “Quickstart Guide To The Federal Long Term Care Insurance Program”
How Will Your Federal Retirement Benefits Be Taxed?
Many federal employees don’t realize the impact that taxes will have on their retirement income. But the truth is that if not factored into your retirement planning, taxes can destroy your financial plan. Even if retirement is many years away, understanding how your federal retirement income will be taxed will help you be proactive withContinue reading “How Will Your Federal Retirement Benefits Be Taxed?”
How Is Your FERS High-3 Calculated?
Most federal employees have heard the term “High-3,” and many understand that their pension will be a percentage of this amount. But few know how to compute their High-3 or what pay is actually included in it. However, since your High-3 is required to calculate your pension, it’s critical to understand in order to estimateContinue reading “How Is Your FERS High-3 Calculated?”
Can You Convert Your Traditional TSP To The Roth?
As a federal employee, there are some major advantages to contributing to the TSP, such as having the choice of making pre-tax (Traditional TSP) or/and post-tax contributions (Roth TSP). Being able to select how you want your contributions treated for income tax purposes is a powerful tax planning tool, but what if you decide toContinue reading “Can You Convert Your Traditional TSP To The Roth?”
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?”
Can Federal LEOs Elect the Postponed Or Deferred Retirement?
Although we have covered the enhanced retirement benefits for LEOs and the FERS early retirement options (Postponed and Deferred), we haven’t reviewed whether LEOs can retire under one of these early retirement options. And while many LEOs will retire under the Immediate retirement, there will undoubtedly be those who separate before full eligibility for oneContinue reading “Can Federal LEOs Elect the Postponed Or Deferred Retirement?”
FERS Early Retirement Options: Postponed Vs. Deferred
Although retiring after 20 or 30 years of uninterrupted service is usually uncomplicated, for federal employees who want to retire early, there is often confusion between two options: the postponed and deferred retirements. And while both involve separating from service early and receiving the FERS pension later, there are significant differences between the two thatContinue reading “FERS Early Retirement Options: Postponed Vs. Deferred”
8 Things Federal Employees Should Do 5 Years Before Retirement
Retirement is a significant milestone, representing the culmination of years of hard work and the prospect of a well-deserved break. Retirement planning takes on even greater importance as a federal employee due to the unique benefits and complexities associated with your employment. While Feds enjoy a range of retirement benefits and opportunities, knowing when toContinue reading “8 Things Federal Employees Should Do 5 Years Before Retirement”