GAO was asked to review strategies that experts recommend retirees employ to ensure income throughout retirement, choices retirees have made for managing their pension and financial assets for generating income, and policy options available to ensure income throughout retirement and their advantages and disadvantages.
For most of the 25 years or so of the existence of the Federal Employees Retirement System (FERS), if a FERS employee resigned and accepted a refund of his pension contributions, it was final and absolute. That is, if the employee returned to Federal service, and wanted to repay the refund, the answer was “no.” The time was lost forever. About two years ago, this changed.
Congress is looking at several proposals that would cut into federal employee benefits. The author focuses on some specific ones that would directly impact your financial security in retirement.
Using a financial advisor can be a good decision. But, before you select an advisor and in your dealings with the person you have selected, here are a few tips you should know before making a financial decision that could impact your retirement and your financial security.
The only thing 100% clear about the FERS annuity supplement is that it ends at age 62.
In preparing a Federal Disability Retirement application, a change in a medical diagnosis may require an amendment to the application. In such instances, should a change be implemented?