Search:

Custom Search

Readers' Comments

Total Comments: 12
Page 2 of 2

« Previous | Next »

"Public Sector Workers Saving Less"

Boomers get saving

Retiree
Army
Wed Sep 12, 2007 5:30 PM

Post Reply

Federal retirees may be surprised years from now when a cash-strapped country cuts back, slowly but surely, at federal employee benefits and retirees benefits as well. Save for yourself--you can count on no one else. We will move to a retirement based on TSP only (no future annuity) and health savings accounts (no federal health insurance). Get ready.

Re: Boomers get saving

analyst
dod
Thu Sep 13, 2007 7:53 AM
A TSP only retirement savings plan isn't such a bad thing. Regular contributions (10-15 percent of salary a year) over 30 years (for example a career from age 25 to 55) can give you a retirement income equal to or exceeding your working income.

Federal Retirement

IT Spec
DoD
Thu Sep 13, 2007 9:32 AM

Post Reply

I came to work for DoD in August 1984 (missing CSRS by 8 months). I was only here a couple of years when I had the good fortunate to be able to attend a retirement seminar (when the person chosen to go was unable to attend). At that time, it was not given by contractors but by government employees who came to the base and had the 3 day seminar. They instilled the importance of contributing the most you could to the TSP. I have done that over the years and have built up a considerable amount (considering) into the TSP. I think that everyone should attend these seminars right away when they come on board for the government, otherwise, you will just put off contributing as much as you can. During the seminars, we were provided with figures showing how much you would get at retirement if you put "x" amount of money into the TSP . This was so essential and I have not missed it over these years even though I, too, took a $350.00 decrease in pay coming to work for DoD.

Re: Federal Retirement

Engineer
Interior
Wed Oct 10, 2007 9:13 AM

Post Reply

IT Spec gives good advice! The only caveat currently is that when the seminars are given by contractors, attendees should be careful to consider their own positions and be aware that the contractors will be (openly or not-so-openly) pushing their own products.

Total Comments: 12
Page 2 of 2

« Previous | Next »

Add a Comment about this Article

** All fields are required.
Note: Your comments will not show up right away. FedSmith.com selects the most insightful comments from our readers for posting. If selected, your comments will show up in the comments section after they have been reviewed and approved. See our terms of use for more information.