The ideal retirement date will vary according to an individual’s situation. But, for those readers contemplating retirement this year, here are considerations for maximizing your retirement.
A bill is moving through Congress that would allow FERS employees to count unused sick leave in computing retirement benefits. Is it more beneficial to take the leave or to save it for using in computing retirement benefits? Here are a few considerations–if this bill does get passed by Congress.
For Federal and Postal employees, disability retirement benefits exist as part of their “employment package.” This is a benefit that can become very important. The process of obtaining disability retirement is not simple. Here are some basics about this employment benefit.
The Windfall Elimination Provision and the Government Pension Offset can impact your retirement future. Several readers have asked about the potential for repeal of these provisions because of its impact on their retirement future. Here is an update.
How much money will you have to spend in retirement? In part, it depends on how much you will pay in taxes. Here is how the system works for federal retirees.
How are you coping in the current economic climate? Many federal retirees are having to “economize” in some form or other in order to maintain our standard of living. Here is the experience of one federal employee who took his money out of the Thrift Savings Plan and invested on his own.
What is the link between the “Family Smoking Prevention and Tobacco Control Act”, and the Thrift Savings Plan? They are part of the same legislative package in the House of Representatives.
Active federal employees save about $820 a year because they are able to pay for health insurance out of pre-tax money. A bill introduced in the House would give the same benefit to federal civilian retirees as well as active duty military personnel and retirees.
HR 1203 would federal civilian annuitants as well as active duty military personnel and retirees to pay their health insurance premiums with pre-tax compensation (also known as “premium conversion”).
If you have not already taken a minimum required distribution (MRD) from your Thrift Savings Plan (TSP) or your Individual Retirement Account (IRA) for 2008, you must take it by April 1, 2009.