The 4 Things You Need To Know About The FERS Supplement (VIDEO)

If you are covered by FERS and retire before age 62, you may be eligible for a pension supplement called the Special Retirement Supplement (SRS), also known as the FERS Supplement. In this video, I’ll cover four key things you need to know about the SRS. If you want to learn more about the SRS,Continue reading “The 4 Things You Need To Know About The FERS Supplement (VIDEO)”

The TSP vs. the IRA: What’s the Difference?

The Thrift Savings Plan (TSP) and the Individual Retirement Arrangement (IRA) share many similarities, such as the option to fund with pre-tax (traditional) or after-tax dollars (Roths); having penalties for early withdrawals and failing to take required minimum distributions beginning at age 72. However, there are some important distinctions between the two accounts, such asContinue reading “The TSP vs. the IRA: What’s the Difference?”

Which Thrift Savings Plan Is Right For You? Roth Vs. Traditional

Having the choice of contributing to a Traditional TSP or a Roth TSP provides you with a significant tax planning option—but it does force you to make another financial planning decision. Many people find making this decision a challenge because there’s no one right answer for everyone, and it depends upon several factors. What’s NotContinue reading “Which Thrift Savings Plan Is Right For You? Roth Vs. Traditional”

Snapshot of the FERS Pension

The Federal Employees Retirement System (FERS) became effective January 1, 1987, replacing the Civil Service Retirement System (CSRS); all Federal civilian employees hired after this date are covered under FERS. FERS has three main components: The Basic FERS Retirement Pension, Social Security, and the Thrift Savings Plan (TSP). Our discussion will focus on your FERSContinue reading “Snapshot of the FERS Pension”

Three Advantages of the TSP

The Thrift Savings Plan (TSP) is designed to closely resemble the private sector’s 401(k). Although the TSP is similar to the 401(k), its additional features, including low fees, broad diversification, and a generous government match, make it superior to most 401(k)s and a perfect wealth-building vehicle for Federal Employees. Here’s a closer look the threeContinue reading “Three Advantages of the TSP”