Posts Tagged: FERS

Survivor Benefit Options for Federal Employees

Choosing a Survivor Benefit: Taking Care of the Ones You Love While no one likes to contemplate their own death, making sure that your family will be provided for after your passing is an important part of retirement planning. Private-sector employees generally just apply for and buy life insurance and move on, but as a… Read more »

Cut Out of Your Spouse’s Annuity?

http://www.psretirement.com/cut-out-of-spouses-survivor-annuity/ Federal Retirement Survivor Annuity Eligibility This is a very sad story but true and eye opening. I recently had a woman come to me in tears about having some difficulty receiving herdeceased spouse’s survivor annuity. She said that she had contacted OPM after her husband’s sudden death and was told that she was not… Read more »

Phased Retirement’s Debut

http://www.psretirement.com/phased-retirements-debut/ The Office of Personnel Management (OPM) issued the final regulations on Phased Retirement on August 7, 2014. Phased Retirement will allow full-time employees the opportunity to work part-time while drawing retirement benefits. Phased-retirement debuted as a mentoring tool to preserve the government’s institutional knowledge. As I stated previously, it is a start to something because… Read more »

Phased Retirement Annuity

Phased Retirement Annuity One of the incentives offered to gain employee participation in the Phased Retirement program is the more generous annuity at full retirement. Federal annuities are calculated based on years of creditable service and the high-three average salary. Therefore, the longer you work the better things might look in the end for you…. Read more »

Explanation of Phased Retirement

Explanation of Phased Retirement PHASED RETIREMENT DEFINITION: Phased Retirement is a human resources tool that allows employees to continue working on a part-time basis while receiving a part-time retirement annuity. Participants receive additional service credit towards their full retirement. Participants also begin receiving their retirement annuity payments consistent with the payments they would otherwise be… Read more »

What Is A TransFERS?

There was a FERS open season held back in 1987-88 and 1998, allowing employees with at least five years of Civil Service Retirement System (CSRS) service to voluntarily transfer to FERS during one of the two open seasons. When these individuals, called TransFERS retire, they receive both a CSRS annuity and a FERS annuity. These… Read more »

The Senate Salutes Federal Employees

Well, not the entire Senate, yet. Ben Cardin (D-MD) and Brian Schatz (D-HI) recently introduced a bill called the Federal Adjustment of Income Rates (FAIR) which would give federal employees a 3.3 percent pay raise in 2015. The proposed pay raise is welcomed news for Federal employees. Federal employees have endured a lot over the… Read more »