An important part of establishing your retirement plan is choosing the best age to retire. While the average retirement age for federal employees is 62 (61.8 according to OPM), there is no magic age that works for everyone. Hence, it could make sense for some to retire earlier or later, and the right age willContinue reading “3 Reasons Why Federal Employees Retire At 57”
Tag Archives: FERS
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”
5 Ways Your Federal LEO Retirement Benefits Are Different
For the most part, all Federal employees enjoy the same robust benefits, such as the Thrift Savings Plan (TSP), various insurance programs, and of course, the FERS pension. However, special category employees, namely law enforcement officers (LEOs), are eligible for enhanced retirement benefits and are governed by different retirement rules. Because these enhanced benefits andContinue reading “5 Ways Your Federal LEO Retirement Benefits Are Different”
What Is FERS Creditable Service And Why Is It Important?
What Is Creditable Service? You may have heard the term “creditable service,” but what exactly is creditable service, and why does it matter? Creditable service refers to the years of service when your salary was subject to FERS deductions. Which for most Federal employees will be every year of their civilian career. Now, this importantContinue reading “What Is FERS Creditable Service And Why Is It Important?”
What Is The FERS MRA?
What is the MRA? The minimum retirement age (MRA) is the earliest age at which most Federal employees may retire. Why Is It Important? Your MRA will determine when you’re eligible for different types of FERS retirement options. For example, your MRA will determine whether you are eligible for the MRA+ 10 retirement option. YouContinue reading “What Is The FERS MRA?”
How Federal Employees Can Retire Early (VIDEO)
In this video, I’ll cover the MRA+ 10 retirement option in under 3 minutes. If you want to learn about the MRA+ 10 option, read this article and if you want to learn about other FERS immediate retirement options, watch this video.
Quickstart Guide to Your Federal Employee Disability Benefits
What is Disability Insurance? Disability insurance is a type of insurance that pays you a monthly benefit if you become disabled. You could think of it as an income replacement that can help you avoid the financial burden of losing your income if you are unable to work due to an accident, injury, or illness.Continue reading “Quickstart Guide to Your Federal Employee Disability Benefits”