End of Year Retirement Checklist
For those federal employees who may be considering retiring at the end of the year, the author offers some pros and cons to consider.
Retirement
Stay informed with the latest federal employee retirement news, including updates on FERS and CSRS, retirement eligibility rules, OPM retirement processing, and TSP performance as it relates to long‑term retirement planning. This category covers annual COLA updates, TSP news, survivor benefits, military service credit, retirement application guidance, and major OPM policy changes or federal legislation that could affect federal retirement benefits. Find clear, timely information to help current and former federal employees navigate retirement planning, benefit calculations, and post‑retirement considerations.
OPM Continues to Reduce Retirement Applications Backlog
OPM’s latest monthly retirement processing status report shows a decline in the number of backlogged applications in November.
Wizard of Odds
Many federal employees may be wondering, “How do I protect my savings in the TSP and get a better return?” The author offers some likely scenarios for the near future, but cautions there are no foregone conclusions.
TSP Year End Processing Schedule
The TSP processing schedule for the end of 2012 includes information about when transactions (including withdrawals and monthly payments) will be processed, as well as when the TSP will be closed during the holiday season.
Retirement Saving Tips from the Labor Department
The Department of Labor has provided ten money saving tips to utilize when preparing for retirement.
FEHB and That 5-Year Requirement
The author notes that some readers who contacted him for clarification on the requirement to have insurance for five years before retirement have apparently been given incorrect information as to whether the time requirement also applies to a spouse. Here is a quick explanation of the time requirement.
Medicare Premiums Increasing in 2013
Medicare premiums will be increasing in 2013. Here are some of the key figures for Part A and Part B.
Will Increased Dividend Tax Rates Detrimentally Impact TSP Stock Funds?
The author says that since taxes are likely going up in 2013, the increased taxes on dividends will have some implications for TSP investors.
What is the Best Date to Retire?
The author says that the best date to retire is when you are financially able and psychologically prepared, however, he offers some dates and considerations for those concerned about the monetary nuances.
How Much Do You Know About Funding of the Federal Retirement System?
The unfunded liability of the older CSRS retirement system will hit a peak of $684.8 billion by 2023. Your future pension benefits should be secure despite the financial shortfall, according to OPM, as the number of people covered by CSRS continues to decline.
