Last week, I talked to a friend about a major home improvement project costing thousands of dollars that I have to have done. My friend said she had another friend who delayed her federal retirement because she had to do the same project. My heart dropped because I would be distraught if I had to delayRead… Read more »
How did your retirement plan fare in 2014? Are there any changes you should make as we head into 2015? As the calendar flips ahead to a new year, January is the perfect time to make sure your retirement plan is running smoothly. Kim Weaver, Director of External Affairs at the Federal Retirement Thrift Investment Board,Read… Read more »
As summer sun cools to fall, the Thrift Savings Plan (your retirement plan), has also made a turn. After a down July, all but one of the TSP funds are back in the black. All Thrift Savings Plan domestic funds recorded gains over the past month, while the I Fund, invested in international stock, fell 0.14 percent.Read… Read more »
As you near retirement age, there are a number of different factors you’ll likely be thinking about. You might realize that you aren’t as financially prepared to retire as you had anticipated, you might have trepidation about not having something to occupy your day, or you might just really like your job. If you fallRead… Read more »
On August 7th, the Office of Personnel Management (OPM) issued final regulations to allow eligible Federal employees the ability to work 20 hours per week, while receiving half of their pay and half of their retirement annuity. Under the Federal Phased Retirement law, employees who take advantage of the new flexibility, will be required toRead… Read more »
Retiring from federal service can be as simple as picking a date on a calendar, but there are certain days to retire on that are more beneficial and can ensure you’ll receive the maximum benefit due to you. When you’ve decided that you are both financially and mentally prepared for retirement, there are some keyRead… Read more »
The “grey tsunami” was a big topic at my agency a few years back. The expectation was that up to 70% of the agency’s workforce would take early retirement. Massive amounts of tacit knowledge would be lost. In preparation, my team attempted to “crowdsource” the knowledge of the experienced staff. We wanted to convert thatRead… Read more »
http://www.psretirement.com/pension-survivor-benefit-options/ Both CSRS and FERS have an option when they retire to choose a Survivor Benefit option which allows their spouse continued partial pension payments in the event of your death. For CSRS, the Survivor Benefit option would provide a 55% annuity payout. For FERS, the Survivor Benefit has two options: a 25% or 50%Read… Read more »
Save Don’t Spend One concept that should be a part of the fabric of our being is save, save, save during the last five years of our federal work career. Hopefully you have been contributing to your TSP since you began working, but certainly the last 5 years before retirement is a time you shouldRead… Read more »
Understanding Your FEGLI Coverage, by Todd Carmack As a benefit counselor and retirement income specialist, I have come to realize that a lot of employees do not remember what they signed up for or understand their federal employee group life insurance (FEGLI) coverage. An outline of FEGLI coverages available; Basic FEGLI Coverage – if elected,Read… Read more »