3 Things Federal Employees Must Know About Social Security

Your FERS retirement benefits consist of three main components: The Basic FERS Retirement Pension, Social Security, and the Thrift Savings Plan (TSP). And while your FERS pension is one of the more unique parts of your retirement package, Social Security is an equally important benefit providing guaranteed income. Since Social Security is such an essentialContinue reading “3 Things Federal Employees Must Know About Social Security”

3 Critical Mistakes Federal Employees Make

As federal employees approach retirement, thoughts shift from worry over the workday grind to concerns about preparing for retirement. And while you will likely never starve due to your pension and Social Security, many mistakes can devastate your retirement, turning your vision of a fulfilling second chapter into a period of scarcity and fear. So,Continue reading “3 Critical Mistakes Federal Employees Make”

3 Reasons Why Federal Employees Should Hire A Financial Advisor

Personal finances can be complicated, especially when you’re a federal employee with a robust benefits package that includes a FERS pension, survivor benefits, the Thrift Savings Plan, and life insurance, all of which require some type of financial decision making. And while OPM and your HR specialists do an excellent job of providing plenty ofContinue reading “3 Reasons Why Federal Employees Should Hire A Financial Advisor”

Will Your Children Keep FEHB If You Die?

As a federal employee, you know that you have robust benefits, and you’re likely aware that your Federal Employees Health Benefit (FEHB) coverage is one of your most valuable benefits. But what happens to your FEHB coverage if you die? In the past, I have discussed the requirements for a spouse to maintain your FEHBContinue reading “Will Your Children Keep FEHB If You Die?”

The FERS Child Survivor Annuity Benefit

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”

How Federal Employees Can Manage Their Investments In Retirement: The Bucket Strategy

As federal employees prepare to retire, they must shift from the accumulation mindset to the distribution mindset; said differently, they must shift from the saving mindset to the spending mindset. This change comes with many challenges, chief among them is deciding on a retirement income strategy. When developing a plan for turning your retirement assetsContinue reading “How Federal Employees Can Manage Their Investments In Retirement: The Bucket Strategy”

Roth Conversions: What They Are & The 3 Things Federal Employees Need To Know

With all the recent talk of Roth conversions in the media and on the hill, many federal employees are asking what the heck is a Roth conversion, and where do I get one? Simply stated, a Roth conversion refers to the process of moving some or all of your tax-deferred retirement savings from accounts likeContinue reading “Roth Conversions: What They Are & The 3 Things Federal Employees Need To Know”

FERS Annual And Sick Leave At Retirement

As federal employees approach the end of their careers and start the retirement planning process, many wonder what will happen to their leave. Will they receive a lump sum payment or credit toward their FERS annuity? There can be a lot of confusion around the treatment of sick leave, especially since prior to the 2010Continue reading “FERS Annual And Sick Leave At Retirement”

Federal Pay Raises Vs. FERS COLAs

With the most significant FERS cost of living adjustment (COLA) in over a decade (4.9%) for FERS retirees and only a 2.7% pay raise for active federal employees set for January 2022, many feds are wondering why the large difference? This is a legitimate question, especially considering the recent jump in inflation. And the reasonContinue reading “Federal Pay Raises Vs. FERS COLAs”

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”