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”
Tag Archives: Federal Employee
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”
Quickstart Guide To Medicare For Federal Employees
As healthcare costs continue to rise, it’s no surprise that federal employees nearing retirement have many questions surrounding Medicare. And while most are familiar with their Federal Employee Health Benefits (FEHB), many are not familiar with Medicare even though they’ll likely be eligible for the program at age 65. Hence, the topic of Medicare benefitsContinue reading “Quickstart Guide To Medicare For Federal Employees”
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?”
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?”
4 Reasons Why Federal Employees Retire At 62 (VIDEO)
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.
4 Reasons Why Federal Employees Retire At 62
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”
Will Your Spouse Keep FEHB If You Die? (VIDEO)
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.
What Happens To Your Federal Employee Health Benefits In Retirement?
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?”