Turning accumulated savings in the Thrift Savings Plan into a stream of income is a goal for federal employees who are hoping to retire at a comfortable level. The author looks at choices federal workers have both inside and outside of the TSP to generate retirement income.
Federal employees covered under CSRS Offset have special considerations when it comes to collecting Social Security in retirement. The author describes how this works and provides some real life examples based on a hypothetical scenario.
Phased retirement may be a solution in search of a problem. Agencies have been slow to implement it and reception by federal employees has been languid. DoD is now moving out to implement the program.
The author says that under CSRS, a do-it-yourself approach to retirement was more practical for federal employees, but those under FERS may face bigger obstacles trying to go it alone.
There are circumstances under which former military members who subsequently work for the federal civil service short of a 20 years active duty military retirement can buy time for civil service pension accrual purposes.
Do you want to ensure that you spouse remains covered by FEHB after your death? Then you want to elect some level of survivor benefit for your spouse at the time you retire. The author describes some considerations for choosing a survivor benefit.
Actuaries tell us that a 55 year old can expect to live another 30 years. How will you spend those days after you leave the workforce? The author provides some suggestions on how to find your retirement dreams and make them a reality.
I’ve heard rumors that Congress will be changing how our retirement is computed by mandating a “high-five” calculation, rather than a high-three. Is this likely to happen and, if it does, what will it do to our pensions?
What can federal employees expect to happen to their benefits if they pass away after retiring from federal service?
Here are some specifics from the leading candidates and how cutting government spending could impact the federal workforce.
