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Plan Your Federal Retirement
United States
Приєднався 10 сер 2020
Navigating the maze of federal retirement benefits? Seek no further for guidance on your federal employee benefits!
Welcome to the Plan Your Federal Retirement question line. Our dedicated team of specialized financial advisors are ready to shine a light on the path to a clear and confident retirement.
Dial 907-931-1775, leave your pressing questions and make sure to subscribe to our podcast. Here, we address YOUR specific concerns with tailor-made answers.
Begin your journey towards a confident retirement today by subscribing and calling us with your questions!
Welcome to the Plan Your Federal Retirement question line. Our dedicated team of specialized financial advisors are ready to shine a light on the path to a clear and confident retirement.
Dial 907-931-1775, leave your pressing questions and make sure to subscribe to our podcast. Here, we address YOUR specific concerns with tailor-made answers.
Begin your journey towards a confident retirement today by subscribing and calling us with your questions!
Understanding Required Minimum Distributions (RMDs)
What are Required Minimum Distributions (RMDs), and how can they impact your retirement?
In this episode of All About FERS, John breaks down everything you need to know about RMDs, including when to start taking them, how they are calculated, and strategies to avoid penalties. Discover how RMDs affect your taxable income and why planning is essential to ensure your retirement savings last.
Tune in now to gain clarity on this important topic and take control of your retirement planning!
Need expert help with your retirement planning? Schedule a call with one of our Federal Benefits Specialists today to receive advice tailored to your needs. zurl.co/AiAC
Or call 907-931-1775 to leave your questions. Don’t forget to subscribe to our podcast for more valuable insights on federal benefits and retirement planning.
Happy Planning!
In this episode of All About FERS, John breaks down everything you need to know about RMDs, including when to start taking them, how they are calculated, and strategies to avoid penalties. Discover how RMDs affect your taxable income and why planning is essential to ensure your retirement savings last.
Tune in now to gain clarity on this important topic and take control of your retirement planning!
Need expert help with your retirement planning? Schedule a call with one of our Federal Benefits Specialists today to receive advice tailored to your needs. zurl.co/AiAC
Or call 907-931-1775 to leave your questions. Don’t forget to subscribe to our podcast for more valuable insights on federal benefits and retirement planning.
Happy Planning!
Переглядів: 97
Відео
The Psychological Impact of Retirement: Preparing for Life After Federal Service
Переглядів 1974 години тому
Ready for retirement but still trying to figure out what comes after the paycheck? In this podcast episode, Jamie and Floyd dive deep into the emotional side of retirement, something many people overlook. Discover how to handle the loss of purpose, adjust to new routines, and stay connected with others as you transition to this next phase of life. Retirement isn’t just about finances; it’s abou...
TSP to Roth IRA: What Federal Employees Need to Know
Переглядів 1,7 тис.16 годин тому
I'm 60 years old with 36 years of service. I called the TSP help line and asked if I could roll over money from the traditional TSP directly to a Roth IRA I have at Fidelity. They said yes. And, sure enough, when you go on the tsp.gov website and click through Withdrawals and "Roll Over an Amount to an IRA" "Roth IRA" is one of the three choices for a destination. So, is it true you no longer h...
To Roll Over or Not to Roll Over?
Переглядів 53614 днів тому
Do you need to decide whether to roll over your TSP or 401(k) when retiring? Learn the key decisions that need to be made to manage your retirement accounts effectively. In this episode of All About FERS, Floyd reveals why rolling over retirement funds can result in unexpected tax issues. Discover why transferring funds is often a better option than rolling them over, and explore real-life exam...
The Strategic Role of Qualified Charitable Distributions in Retirement
Переглядів 11514 днів тому
How can you make the most of charitable giving while reducing your tax burden? In this podcast episode, Christian and John explore the strategic use of Qualified Charitable Distributions (QCDs) in retirement planning. Learn how QCDs can help you meet Required Minimum Distributions (RMDs) while supporting causes you care about-all tax-free. They also dive into age requirements, reporting conside...
Buying Back Military Time and Pension
Переглядів 21521 день тому
Buying Back Military Time and Pension
FEHB Plan Options: How to Pick What’s Right for You
Переглядів 36328 днів тому
FEHB Plan Options: How to Pick What’s Right for You
Essential Steps to Secure Your Federal Retirement: What You Need to Know
Переглядів 532Місяць тому
Essential Steps to Secure Your Federal Retirement: What You Need to Know
Understanding FERS Supplements: Does Lump Sum Leave Affect Your Earnings?
Переглядів 371Місяць тому
Understanding FERS Supplements: Does Lump Sum Leave Affect Your Earnings?
Deferred vs. Postponed Retirement: What's the Difference?
Переглядів 478Місяць тому
Deferred vs. Postponed Retirement: What's the Difference?
Boost Your Retirement Savings: Understanding FERS Contribution Rates
Переглядів 537Місяць тому
Boost Your Retirement Savings: Understanding FERS Contribution Rates
When do Your Years Stop Counting Towards Your FERS Retirement
Переглядів 800Місяць тому
When do Your Years Stop Counting Towards Your FERS Retirement
Should You Withhold Taxes From Your Social Security? Here’s What You Need to Know
Переглядів 359Місяць тому
Should You Withhold Taxes From Your Social Security? Here’s What You Need to Know
How to Burn Sick Leave Before Retirement
Переглядів 1,5 тис.Місяць тому
How to Burn Sick Leave Before Retirement
Retirement Tax Traps: How to Avoid Surprises in Your Federal Retirement Planning
Переглядів 420Місяць тому
Retirement Tax Traps: How to Avoid Surprises in Your Federal Retirement Planning
FERS Part-Time Service: Clarifying the Creditable Service Rules
Переглядів 3322 місяці тому
FERS Part-Time Service: Clarifying the Creditable Service Rules
Understanding CSRS Retirement: Key Considerations for Federal Employees with a Divorce Decree
Переглядів 1472 місяці тому
Understanding CSRS Retirement: Key Considerations for Federal Employees with a Divorce Decree
Understanding Life Insurance Coverage for Federal Retirees: What You Need to Know
Переглядів 2832 місяці тому
Understanding Life Insurance Coverage for Federal Retirees: What You Need to Know
Crafting Your 10-Year Tax Plan: How to Reduce Liabilities in Your FERS Retirement
Переглядів 4122 місяці тому
Crafting Your 10-Year Tax Plan: How to Reduce Liabilities in Your FERS Retirement
Navigating Earnings Limits and SRS: What Happens When You Turn 62?
Переглядів 2912 місяці тому
Navigating Earnings Limits and SRS: What Happens When You Turn 62?
Retirement Strategies for Dual Federal Employee Couples
Переглядів 1622 місяці тому
Retirement Strategies for Dual Federal Employee Couples
10, 5, 3, or 1 Year Away From Retirement: What You Need to Do
Переглядів 5522 місяці тому
10, 5, 3, or 1 Year Away From Retirement: What You Need to Do
The 5 Essential Life Checkups Before Your Federal Retirement
Переглядів 4092 місяці тому
The 5 Essential Life Checkups Before Your Federal Retirement
Understanding the FERS Supplement: Eligibility and Next Steps
Переглядів 6253 місяці тому
Understanding the FERS Supplement: Eligibility and Next Steps
What is a 1099-R? Understanding Your Retirement Income Tax Form
Переглядів 2743 місяці тому
What is a 1099-R? Understanding Your Retirement Income Tax Form
Why FEHB is Your Best Benefit as a Federal Retiree
Переглядів 6 тис.3 місяці тому
Why FEHB is Your Best Benefit as a Federal Retiree
How don’t request a copy of my paid in full military service buy back letter?
When making shorts doing assume everyone in the audience is from your industry and understands what an RMD is. Explain it very short but put included in
When my ex husband and I divorced 12 years ago I put in my divorce decree I retain the rights to retirement benefits from the office of personnel management and my ex’s Csa number. I wanted to keep the survivor benefit. When he retired disability I elected the reduced amount. We have been divorced 12 years. I called Opm yesterday and they said I was still on there as beneficiary of the survivor benefit. I do not think my divorce papers were enough and they are going to need a coap. Can you advise. They said they sent me a letter In 2012 I never received. I think they sent it to my ex, but they were going to send the letter again. Is my divorce decree with the financial page enough or will I need a court order.
I am 65 my husband passed away in 2023. I get disability social security based on my own employment. I also get widows social security. Now I get a small amount monthly from FERs based on my husband employment at a veterans hospital. Will my Ssdi get reduced ?
What is the effect on our high 3 if we are in LWOP status due to being on active duty as a member of the Reserves/Guard?
Speaking on military reserves time.. you have the link to where you guys talk about it?? I don’t see it…. W: I’m trying to see if the 15 training day/ year we do can be bought back??
Just turned 62 a month ago and I have just under 8 years in FERS. Am I losing out by not going ahead and filing on my deferred retirement? Do I gain anything by waiting since I have a full time job outside of FERS? Thanks
Dammn this kind of information is priceless for a federal employee…. No body is giving this kind of information out in DHS.
It is amazing how many people work for money, but don't pay any attention to it. Well educated people. Sad.
I know many who are retiring in Dec or early Jan. The measly pay raise isn’t cutting it- especially if you are going to be adding commuting expenses back in there.,
Dammn 10 minutes of waiting before the video 😮😮😮!!!
This was a great video. I already knew most of the information, but where I learned something was the deferred retirement part of the video. I was not aware that you could defer the pension to your MRA if you have atleast 10 years of service. Great video and thanks for sharing.
I recently used the updated TSP website to make a partial withdrawal and direct Trustee to Trustee transfer from my TSP 401(k) [pre-tax] account into my Roth IRA [post-tax]. I transferred the full amount rather than having TSP or new Trustee withholding because I have monies set aside to pay the taxes. My Roth IRA Trustee has classified the receipt of the money as a Roth Conversion Direct Purchase and will document this on an IRS Form 5498. My concern revolves around TSP’s documentation: TSP classifies any type of action other than withdrawal as a Rollover regardless if it going to another 401(k) / Traditional IRA or a Roth IRA. The IRS instructions seem to consider what I have done as a Normal Distribution (CODE 7) vs a Direct Rollover (CODE G). Which is correct? How to I (and through this help others) to ensure I/we do not run afoul of the IRS? Thanks in Advance.
Does sick leave count towards creditable service pertaining to the FERS supplement calculation?
I have friends at USACE who are deaf and this information would be awesome for them but the close captions are unavailable. Can someone please turn them on so I can send them this info?
can I transfer my tsp Roth on,y out of the TSP......with NO TAX COMPLICATIONS?
Good information! Thank you!
The Trump administration will gut the FERS pension. Before yall think im a liberal Biden supporter, think again. Liberals defund the Police and Conservatives defund pensions. I really hope Im wrong but Trump wanted to change the pension last time.
In the example you gave, what is the benefit to converting to a Roth at age 60?
It's my understanding that, starting in 2026 the TSP will allow you to move money from your traditional TSP to a Roth TSP for the first time. You will have to pay taxes on the amount you move, & it can't be with TSP money. This may be a good choice for some who maybe want to leave money for family members, who do not have to pay taxes on them when it's available to them.
I heard about this from FEDweek. I wonder if one can do this BEFORE retiring (maybe making sure that one doesn't do so much in one year that it pushes one into another tax bracket).
Thanks for the breakdown! I need some advice: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). How should I go about transferring them to Binance?
Thank you Ms. Flanagan
What if after retirement & age 591/2 you rollover all your TSP Roth contributions and earnings to an individual Roth IRA account that is older than 5 years. Does those previous Roth TSP earnings now meet the 5-year rule since they are now in an individual Roth IRA account that is older than 5 years?
Nice - good info but a little short on depth. What about the CSRS retirees with Federal BC/BS ? Why would they need part B and pay that premium when they could stay with Federal BC/BS forever? Agree, that FEHB is the absolute best retirement health insurance available (even better than TRICARE; sorry military brothers!) but you need to discuss the fact that all FEHB plans are not equal.....would also suggest you do a video on how Medicare and FEHB work internationally
And that's why nothing gets done in government because this sounds like an answer, but really says nothing other than donate what you can afford.
My frustration is that you can't specify which fund to withdraw from. So I can't withdraw solely from my F Fund allocation.
Thanks for the great info! So if a fed leaves government for the private sector having been enrolled in FEHB for the full time of service and greater than 5 years, then works in the private sector for a number of years, say 10, then after these 10 years meets eligibility for full retirement benefits/pension from the federal government, it sounds like eligibility rules for keeping FEHB in retirement would be met. Is this correct?
It should be a no-brainer to buy back military or DOD time.
So retired Sept 29; 37 years+ and met MRA? My pay case is finalized but wheres my supplemental?
Not even close to SSA age.. 56 and 8 was MRA.
It appears that POSTAL FEHB employees can no longer keep their FEHB and now forced to enroll in PSHB plan. What happened to what he said that there are 2 rules that you as a Federal Employee have to meet to keep your health insurance 1. You have to be in FEHB the last 5 years prior to separating and 2, You have to eligible for an immediate pension under FERS and immediate retirement under FERS. So why can't we keep FEHB and not be forced into PSHB if we are in this category?
If I want to go to a doctor of my choice I know I can uses Blue Cross, but when I go to my doctor of choice they are going to barf at Medicare.
I think I know the answer, but would like to know for sure. What happens to Credit Hour balance and Compensation (Comp) Time balance when you retire? I assume this is paid out in the same manner of the annual leave balance lump sum payment. Due to health reasons, my use of Sick Leave changed, and now I will likely have Comp/Credit hour balances when I retire.
I had an on the job injury and was on owcp for just about a year. I understand there is an enhanced annuity of 0.1 for people in my position because I couldn't contribute to tsp or SS. How do I make sure OPM factors that in?
What about with a voluntary early retirement authority? Can you take FEHB with you?
Hello, I made full contribution 2023 and 2024 roth Ira. I didn't know the income limit. 2024 is ok, but 2023 income was high, so all amounts are excessive. What is the best way ??
If I go from 12 step 8 to 12 step 9 in January and I retire in February- will the 12 step 9 count as one of my high 3 years…. Or do I have to work a whole year at 12 step 9 for my 12 step 9 to count as 1/3rd of my high 3?
That's a pretty tie.
What about all the money one didn't receive while waiting 8 years (96 months) to collect the full social security amount at age 70? If the social security amount at age 62 was $2,000 per month, that is $192,000 dollars that I would have collected while waiting until age 70. So pretend I'm now 70, it's going to take me maybe 5 years to get that missed $192,000 back (the break even point). So, I would then be 75 years old at the break-even point. A quick Google search says that if I'm alive (male) at age 62, I will live (on average) to age 82. That gives me only 7 years of extra money past the break-even point. Not only that, due to inflation, the money that I received between age 62 and 70 was worth more (and I could have invested it). Seems like getting more money at age 75 (the break-even point) will just buy me some Depends Undergarments, a few more bingo cards, and maybe some extra jello at the retirement home. I think I'll just take my money early and travel plus play more golf while I can. Am I wrong? ;-)
Can you clarify if the annuity is based on the top three "consecutive" years of service, or just the top three? This was with the USPS, if that matters. Thank you.
The High 3 is the average of the highest 36 months of consecutive pay.
Hi there! My current situation, as of 11/19/2024 - Right now, i am 56yrs & 8 months. I turn 57 on March 8, 2025. I currently have 34yrs & 8mo in USPS. March 26, 2025 will be my 35 Year Postal Anniversary - (started March 26, 1990 at age 22) I’m very much considering and contemplating to “possibly” retire next year after I hit 35 years of service & turn 57y/o Other than reaching out to HR, etc - do you have any suggestions or advice for me? Thanks for your time! This is the very first video of yours I’ve watched so I will be looking forward to seeing more. ✨🤍🙌🏽
It is important to make sure you are financially ready to retire. Now is the time, if you haven't already, to build out your financial plan for that transition to retirement, making sure you have looked at all of the areas of a financial plan. You will want to start making sure you've saved and gathered important documents from your personnel file as well, like SF-50s and request a Certified Summary of Federal Service. Feel free to book an appointment with one of our advisors who can help you plan for you Federal Retirement. Follow the link and book your appointment now. - zurl.co/Njnh
I have a USC 1001 on my Form 50. And they haven’t sent me a Form 50 since 2003, they have me in a Special Retirement. I’m near my Retire Compute Date 2025. Also. They taking an Overpayment from from because I won Back pay from SSA . I said. But I weren’t receiving Consequtive payments from Both of You … I feel this is Illegal
Very difficult to get anyone on the phone at OPM Retirement Services. Recording states lines are busy call back later. I call back later and get the same recording for over a week. Very frustrating. I have 17 years (including 2 years military active duty service) civilian service with 3 different agencies and separated in 2006. I am 58 years old and am starting to plan for retirement. Who should I talk to ?
Apply with military and Employer they will contact OPM
Shouldn’t you apply at your job than send to OPM
That is very frustrating... OPM will be a good resource and point of contact for processing your retirement. If you would like help planning if you are financially ready to retire, consider booking a consultation with one of our FERS financial advisors through the following link - zurl.co/Njnh
If I decide to work longer if I am set to retirement in less then 2 weejs
What a terrible video
I find all of these abbreviations extremely confusing and feel like I need to run to Google over and over just to make sense of the shortest paragraphs or videos on this crap. Not thrilled with this change as result🤷🏻♀️🙄
Does this effect the Roth TSP differently then the Traditional TSP?
For the Roth TSP, you would have to wait until age 59.5 and the account must be open and funded for 5 years in order to take out penalty-free withdrawals.
I am a 100% Disabled military retiree. I am a current federal employee planning to retire at age 58 with my buyback of 20 years of service. Does my 100% service connection disability mean that I don't have to waive my military retirement pay? What would I have to provide to OPM/my agency not to waive my military retired pay?
I just found out my conversion to FERS regular retirement is being reduced by more than HALF of what my disability retirement was! How is that possible? I am NOT social security so no reduction there. I have more then 20 yrs. They told me they would calculate my disability as close to what I would have at 62, apparently they messed up BIG TIME! What are my options?
Regular Retirement I don’t think there’s reduction And there is reduction for each year you are under age 62 unless you are 50 yrs old with 25 years. I believe. So you may need to find another fed job for 5 more years Not making over That monthly threshold.. also. You supposed to still be getting that SSA disability until you are 62 U need to Contact OPM
I'm sorry to hear that... Sometimes HR / OPM gives the wrong information, and sometimes they make mistakes. If you feel it has been a mistake, it might be worth submitting an appeal and getting someone involved who understands a FERS Disability retirement benefits.
You can also defer until age 60 if you're under your MRA when you separate and have 20+ years of service. You won't get FEHB, but at least your pension will not be reduced.
TSP: every time we get a annual cost of living increase, It goes towards TSP Roth! Plus I, have $200 taken for the IRS every moth, Thus, I get money back every year!