Unlock the complexities of the Federal Employees Retirement System (FERS) with our insightful collection of articles. Federal retirees will find resources to help learn about the intricacies of FERS annuities, exploring key aspects of retirement planning and financial security. Stay informed about the impact of Cost of Living Adjustments (COLA) on FERS benefits, ensuring a comprehensive understanding of your retirement income. Explore topics ranging from annuity calculations to the latest updates on COLA adjustments, empowering you to make informed decisions for a secure and fulfilling retirement.
Are you taking full advantage of the benefits available to you as a federal employee under the Federal Employees Retirement System (FERS)? The author outlines several key points that federal workers in this system should be aware of to make the most of their benefits for planning a successful future retirement.
A “Comprehensive Policy Agenda for a New Administration in 2017” proposes changes for the federal workforce that would save about $330 billion by 2026. The proposals envision cuts to federal pay and benefits in a number of ways from changes to retirement, the federal leave program, and removing federal workers. Here is a summary.
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.
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.
The Social Security earnings test will affect any Social Security recipient from the age of 62 until they reach their Social Security Full Retirement Age (FRA). For every dollar earned above the earnings test amount, there is a reduction to an individual’s FERS Supplement or Social Security.
What is the definition of an “eligible child” with respect to receiving survivor benefits? The author provides some details of survivor benefits as they relate to children of federal employees.
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.
The majority of federal employees will not retire with over $1 million in the TSP, however, the author says there are ways to generate equivalent income via other means.
