FERS Retirement Benefits 2023: What Federal Employees Need to Know
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- Опубліковано 18 жов 2024
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MRA +10, loving it! Don’t hang on any longer than you need to. If you have a purpose in the next chapter, go as soon as you can. I got out at 54 and could not be happier. My life has great meaning now, vs waiting for some arbitrary date.
Great to hear!
Especially if Trump is president again
That is exactly what I'd like to do and planning for now. Get my financials in order and retire myself.
@@edking2770 -Will never happen until we can get free and fair elections with voter IDs
Did you do the cash hack program I did cash hack and I got paid $20,000 in just a few hours
Good content Mr. Haws. From a federal employee, here in Az, your stuff is great! Keep up the good work and appreciate the knowledge!
Great to hear! Go Arizona!
Did you do the cash hack program I did cash hack and I got paid $20,000 in just a few hours
My husband just passed away and I am having to learn all this, whew!! Thank you for the videos. Open season is right now and I need to know how to handle it. I like the insurance we have and want to keep it all. I am worried though about long term care, ins and outs of it.
I'm glad I took the time to listen and learn some things prior to retirement how to manage my tsp fund. Great knowledge. It was really great!
That is was helpful!
Retired 12/31/21. I figured my pension would be x amount. I had only been at the VA 14 years and was not expecting more than enough to cover my insurance for me plus one. I was pleasantly surprised how fast I got my interim payments and the. My final annuity plus my final SS was more than I planned. Happy girl here.
Great to hear Brenda!
Great overview, Dallon. I'm reminded that I seriously need to get my estate planning done!
Glad to hear it!
My humble advice after 34 years with a federal law enforcement agency as a civilian FERS employee if offered a VERA VSIP take it, if you can retire early do it. Watched to many work to long get broken down and when they finally punch out they don’t have the health or energy to enjoy retirement. That said, get out early. Take SS early and enjoy life. Saw one retire and a year later passed away could have left 10 years earlier yet wanted to pad that pension. Sad. 😢 get out early if you can. 😊
I'm glad I found your channel. Very valuable information. I'm a retired federal employee. I'll be turning 65 this coming March. Thus, I'll have to enroll in medicare. I know I can delay/suspend medicare part D (prescriptions) because the prescription plan (FEHB-GEHA) I currently have provides creditable coverage. I can in the future enroll in part D without penalties/fees provided I can show medicare that I was covered by a plan that was considered creditable coverage. My question: can I also suspend/delay part B? The information I've uncovered says a person can suspend/delay/terminate part B only if I'm actively working and my employer is providing health insurance considered as creditable coverage- is this correct? Can you provide the answer with a citation? Again, thank you for such a great service. Subscribed!
Al
I have 35 years of federal service and have reached my MRA and have been looking into how fers retirement works for the past 5 years and I came to one main conclusion. DO NOT listen to any fellow employees or take their advice. They may be honestly trying to help but everyone's situation at home is different and everyone's needs may be different. If after reading the fers retirement handbook or garnering as much information as you can on line. Please do yourself a favor and speak with a reputable advisor that understands the fers retirement system. Let me repeat DO NOT listen to the people you work with. I guarantee everyone will give you different advice or answers. ✌️
Did you do the cash hack program I did cash hack and I got paid $20,000 in just a few hours
I'm 58 with a 41 years of service. I retired from the Army and adding my time with the FERS to make the 40+ years. I'm debating on retiring soon and take the supplement, or going to 62 and covert all of the years from 1 percent to 1.1, which makes an additional 4+ percent on top of it. Also wondering if I should just use the retired military TriCare and not go with the Federal health care?
As long as you are okay using Tricare providers then that works for a lot of people
There are three categories of FERS, contingent upon post 9/11 excepted hire date eligibility (FERS, FERS-REA, FERS-FREA). It makes aconsiderable difference in the information you attempt to convey. Also a few CSRS members are still actively employed. They either elected to convert to FERS, or held firm to their retirement benefits, absent agency-matching TSP eligiblity. These are significant distinctions in preparation for a retirement. Can we please educate our federal workforce without fueling the economic doubt and fear?
Just curious. I’m new to this channel, so I was wondering if you ever cover the (previous) Civil Service Retirement System (CSRS) benefits or is it limited to FERS? I ask because I am a CSRS retiree (retired 2007).
I have 39 years and I’m 56 and 3 months thought I still had to wait until I was 62 to get full benefits.
If you meet the MRA…you will still get your full benefits. I will be 56 next year, and Im retiring October 21. Also, you will still get the FERS Supplement, which is the gap until you are eligible to receive until age 62. So, you don’t have to wait until 62.
So many people think you have to wait until age 62 to retire. Once I shared this information with my colleagues, they retired immediately. The big question is are you financially ready to retire.
@@chrstfltchify I believe it’s 200.00+, give or take, less than what you would receive from SS at early retirement, but better than nothing. It’s helpful.
@@chrstfltchify do you still have a mortgage?. Just wondering.
Thanks! Great content. Shared on Facebook page
Awesome, thank you!
Been retired since January and haven't gotten my pension or social security suppliment.
Is paying the cost to have your military years added to your pension worth it?
Why is FERS so inferior in terms of payout vs most state and local public pension plans?
Edit: I figured out that FERS retirees only get 1% per year worked due to the fact that FERS employees only contribute 0.8% of their salary whereas the typical state or local employee is going to get 2% to 3% per year because they contribute 5% to 10% of their pay towards the pension. I would personally much rather do the latter.
My guess is because the value of the Thrift Savings Plan (TSP) versus state and local 401K plans. Just a guess.
@@bonittohousen5617 And thats why many states are tinkering with fiscal devastation i.e. Illinois
The vast majority of state and local pension plans do not cover healthcare premiums. Federal retirees continue to receive 75% of their healthcare premiums paid until age 62. This is worth $1,000’s per year
Very interesting. Thanks for sharing.
I love you and your content, but Dude, that jacket is two sizes too small for you! LOL
I’m taking a deferred retirement . At my MRA I will get my pension . I don’t plan on touching my TSP at all ( I’m letting it grow to pass on when I pass) I’m hearing about a “2time”plan that will make the TSP grow amazingly if not touched at all . Have you heard about this ?
Why pass it on? Spend that cash! Go get a new Vette or Porsche
@@robertsole9970 🤣
going out monday jan 22.2022............ they paid my SHT for 15yrs leaving moving on...........
Congrats!
I need a basic overview for a 20 year military retiree and a GS FERS employee.
That is a good topic for a future video!
It's not much and to include my SS as part of this retirement formula is an OUTRAGE! I've been paying SS my entire life and it has nothing to do with my FED retirement formula!
Did you do the cash hack program I did cash hack and I got paid $20,000 in just a few hours
I am too young to retire--yet with all the news of SS benefits going up....does this mean your federal retirement will go up (since we don't get SS benefits). thank you!
I can retire at 58 with 31 years..can I get the supplement until 62 then get my exes social security at that time ? I think it's Qdro or something like that because we were married almost 25 years
I am hoping that someday the FERS COLAs will match the CSRS COLAs.
me too!
There is proposed legislation to bring FERS COLA up to CSRS. Whether it makes it into law is anybody's guess.
I haven't seen one but can you do a video for federal firefighters?
Yes of course. We have many articles and videos about special provisions:
hawsfederaladvisors.com/special-provision-fers-articles/
I'm 50 years old and completed 30 years of federal service Sept 30, 2021. I'm several years away from mra. What good options do I have if I'm thinking to retire now?
You may want to check out a deferred retirement but there a certainly some downsides: hawsfederaladvisors.com/fers-postponed-vs-fers-deferred-retirement-the-ultimate-guide/
Did you do the cash hack program I did cash hack and I got paid $20,000 in just a few hours
I currently work for the USPS. My husband retired from the USPS 10 years ago. He is currently under my health insurance plan. When I retire, can he obtain health insurance under his own name? He has been in continuous coverage with no break in health coverage.
As long as he was eligible to keep FEHB on his own record then he should be good
I still look at the military buy back as that proverbial double-edged sword. Nice for the benefits while in civil service, but when retiring before 62, that "penalty" in determining the SRS option can be brutal if one had a good amount of prior military time. Learning the FEHB being available for those planning on being and Expat was a boon, as some of those other policies could get very pricey quick. Of course when eligible for Medicare, it's best to just sign up, though you can't use it. If you later need it and didn't sign up, that penalty cost can tank a savings account.
Although, I hear there's a group of retired military/civil service members who are trying to get Medicare portable. Those are folks who retired and moved back to their home country and lose all the benefits they paid into while performing service, or working as a legal alien, then retired outside the US. That would be great if it pans out, but it's still in the infancy and government isn't really known to move fast on such things.
Always great information - looking forward to more such content.
Thanks for sharing!
Are you required to take insurance? My husband and I will both have insurance for life from the VA.
No, many only use their VA health benefits instead of the insurance options offered by the federal service. My coworker has VA for himself and his wife and their kids are on her health insurance (she’s not a federal employee though).
No everything is an option except for taxes
Great video!! Thank you!
Glad it was helpful!
Great info
Glad it was helpful!
So I had 1 question about 20 years and 60 years old. Is it true that you won’t get COLA unless you retire at 62? Any resources I could do research on this matter?
Yep, it won't start until 62
I was under CRS from 1982-1987 and was converted to FERS in 1987. How does that change the pension calculation?
You made a bad decision. Don't feel bad, a lot of people jumped ship. You'll most likely get less.
@@hdvades indeed
Did you do the cash hack program I did cash hack and I got paid $20,000 in just a few hours
What is the process of getting your FERS Supplemental reimbursed if I only work for a year after meeting my MRA(age 57)?
Thanks
I noticed that my agency deduct fers my paycheck and they also add to fers for my benefits. How does one find out how much money one has total in fers
Your Leave and Earnings Statement should show the total FERS contribution by your current payroll office. If you switched agencies or your agency switched payroll administrators, the number would be reset.
I am a military retired vet with over 20 years of service...I plan on retiring at 56 years of age and trying to figure out what i should do Honestly??
Did you do the cash hack program I did cash hack and I got paid $20,000 in just a few hours
Here's my situation: I'll be 55 years old in 2022. Also, I will hit 30 years of service in June 2022 including the military buyback. I'm GS-13 Step 10. My TSP is approximately $300K. Question: should I retire after June or stick it out to 62? Additional info: the only debt I have is my house.
If healthy stay, If you are happy with what you are doing stay, build up the TSP , pay more on the house maybe rack up som AL to cash in and take a reirement trip. I had a mandatory retirement for my job and had to leave at a certain age. Was i happy that i left, even thought I had a great job and people that i work with, yes . If you are eligible to retire doing that time and they piss you off, than you can go on and enjoy your life.
Something to consider is that there are no COLA’s on a FERS pension until you are 62 years old. Especially with inflation rising that will eat away at your pension until you are 62.
@@tomgriffin3800 This is important. I can’t believe that the retirement isn’t granted COLA until age 62. Then there is the diet COLA which is so wrong - esp w inflation skyrocketing in the next few years for sure.
@@radiofreealbemuth8540 Yeah, I am living this right now. I retired at 56 and I turn 62 next year.
@@tomgriffin3800 how much has it affected your standard of living?
Thanks for the info
My pleasure, gd
Thank you!!! 🙏🏽
You are very welcome!
Can you do a video for FERS Law Enforcement mandatory retirement at age 57? What happens if you retire before the mandatory age?
We'll put this on the list!
I Am a 15 step 10 I under the csrs retirement program. I am 63 years old and plan to retire in 2022. I plan to take my social security at 69 years old My tsp is 284,000 and I will not have any debt going into retirement. I also have real estate rental property I also get Medicare. A and B. What else could I be doing to secure a better retirement
That is a great question. Consider getting money over to a Roth IRA/TSP to help with tax-free income in retirement.
Are you eligible for SS? I thought you don't pay into SSA under CSRS.
@@vickiewilkins1579 that is correct however I paid into SS while in the service and also paid into it while holding down part time jobs while working under CSRS
Are you automatically signed up for any life insurance once you retire and start collecting your annuity?
There is no default in retirement. It comes down to what you pick.
I know from your presentations that predicting the future is a individual situation, but might you be able to present how to invest your TSP post retirement? How to keep that nest egg gaining value through retirement and pass on value to beneficiaries?
This should help :ua-cam.com/video/PYrqI7np-oE/v-deo.html&ab_channel=HawsFederalAdvisors
Even if I have Roth for TSP my company 5% match is not Roth so more than likely regardless if your account is Roth there will likely still be taxes taken out.
I currently have 30 years of service, my MRA is 56 and 8months, I am 52. Can I still retire at 54 years old and 32 years of service without penalty?
Generally you have to wait until your MRA to retire and get a pension right away.
You can defer your pension until you reach MRA to not be penalized. Meaning, you can retire at 52 or 54 and defer the pay out until 56/8.
You lose 2 points for every year you don't meet MRA
@@moniquef4638 that’s exactly what I’m doing ! 😁
I’m 53 with 31 years of service and I’m doing the exact right now. I’m leaving and deferring my pension til my MRA of 56/8…… which will be 12/21/24.
It is my understanding with FERS Supplement if you are in the special provisions and retire at 50... from 50 to the age you are forced out which for us is 57 then the supplement is not depending on the income you earn from those years so you get the full supplement irregardless, but from the years of 57-63 the supplement does decrease if you make more than the $18k a year. Hoping that didn't change..
I believe that is incorrect Jessica.
“Reduction in FERS Supplement
If you will have earned income(ex: a part-time or full-time job) above a certain amount after you retire from Federal service, your FERS Supplement may be reduced.
The reduction is significant and because the income threshold is so low. The reduction impacts many FERS retirees, but it is especially important for Special Provisions FERS to understand, since many Special Provisions employees often get full or part-time jobs after their federal retirement.
In 2019 the earnings limit is $17,640.
What counts toward that limit? Earned income - which is essentially any income you receive as a W-2 wage or as employment income. Your FERS pension does not count towards this amount, only earned income.
So if you earn more than $17,640, your Supplement will be reduced. For every $2 you earn above the limit, your FERS Supplement will be reduced by $1.”
plan-your-federal-retirement.com/fers-supplement-for-special-provisions/
@@andepau2 Thanks... either way I guess it is okay because I will be making more money if I work :) but I thought for some reason that didn't start until the forced out age at 57 so between 50-57 you got the supplement irregardless it doesn't make sense just what I was told/ and asked at the retirement seminar. I will make more working than the supplement and can hopefully continue to add to the civilian retirement that is non-federal somewhere!!! or part time at least!!!
I have 4 years to plan and already trying to make sure I max out annual and comp time!!! which both pay out and max out each year at 240.
@@andepau2 here is the clause I was looking at from the website you listed. my regular FERS MRA is 57 but i can retire at 50 so I think from 50-57 you get full supplement .. but from 57-62 then you are under reduction rules, and only get full if you make less than $17,640.
*Special Rule for Special Provisions*
There is a special rule for Special Provisions retirees, when it comes to the earnings reduction.
If you leave federal service on a full and immediate Special Provisions Retirement - you will not be subject to the earnings reduction until the month you reach your regular FERS Minimum Retirement Age (MRA).
But, once you reach your MRA - the earning reduction comes into play.
Going Back to Our Example…
Let’s go back to Bob. Bob had 25 years of special provisions time. He took a Special Provisions Retirement at age 48. Bob’s regular FERS MRA is age 56.
We’ll say Bob gets a part-time job after federal retirement. That job pays him $30,000 a year. And for the sake of an easy example, let’s say he gets paid $30,000 a year, every year in retirement.
Bob’s Supplement will be about $1,000 a month from his federal retirement, up until he reaches his MRA of age 56.
But the month he reaches his MRA, age 56, the earnings reduction will come into play.
At age 56, Bob’s FERS Supplement would be reduced by about $515 a month (see part-time work example above) - leaving Bob with a FERS Supplement of $485 a month.
@@jessicag4940 touché. That makes sense. I’ve still got 14 years to go minimum (out at 48 earliest), but it’s good to know since I’m starting a side business that I want to carry into retirement.
I am 57 yo and be planning to retire next year when I turn 58 in July 2022 will be 21 yrs of service in the Fed. Government, am I eligible to retire without penalty? Will I be able to get my pension and TSP?
You could do a MRA+10 retirement or a postponed retirement. You can learn more on the postponed retirement here: hawsfederaladvisors.com/fers-postponed-vs-fers-deferred-retirement-the-ultimate-guide/
Did you do the cash hack program I did cash hack and I got paid $20,000 in just a few hours
The MRA without any penalty is 56 and 30 years of service. So, you will take a reduction.
I am not waiting to take Social Security. My investment advisor in Traverse City, MI just turned 60 a few months ago and found out he has stage 4 cancer.
life is short and unpredictable
@@commonsenseisntcommon1776 Exactly, thats why I am not waiting. It is a crap shoot id you wait. My investment guy was into physical fitness and eating right and all that.
Did you do the cash hack program I did cash hack and I got paid $20,000 in just a few hours
is ther anyway that you will know how much you get on your retirement/ just like social security benefit
You can ask your HR for an estimate or run your own estimate here: hawsfederaladvisors.com/your-fers-retirement-pension-calculator/
@@PlanYourFederalBenefits Thank you/
@@PlanYourFederalBenefits My 3 highest is 42,000 in 8 years of service im still working im 66 years old.. just like to know how much ill get :) in case i decided to retire/ My social security benefit i knew it already how much ill get.. Please Tell me how much. im having a hard time figuring this out ...thank you // you are very kind...
Been trying to get mine since October 2021!
Thanks for sharing!
Did you do the cash hack program I did cash hack and I got paid $20,000 in just a few hours
As long as you're comparing gross retirement projections to your gross working income, you're still dealing with apples to apples.
Fers is terrible. My mom worked almost 50 years and in 4 years they said she used up her benefit after she died. I worked for the state and had more than a million dollars in retirement. I would never work for the feds. It’s embarrassing
if she worked for 50 years she was under the CSRS system not FERS
@@oceancon You may be correct on second thought. The issue is with CSRS. It’s a tragedy
@@Osay1216 Also I am not sure how she 'used up' her benefit- its a lifetime annnuity
@@oceancon I am not sure either but when I spoke with a CSRS that is the message they tried to tell me. Now since she is married her husband will get a percentage of her retirement her retirement but they did not place a accumulated dollar value of her benefit.
The tsp calculator gives different calculation than the salaryx yearsx1.0...is that correct ?
What I've leave after listening to your video is government retirement is trash.
Such a dilemma... Not take enough out of TSP, kids are millionaires. Take too much out, pay higher taxes. What to do 😕
Great point! Thanks for sharing!
To solve that take it all out, the kids aren't rich later necessarily and pay all the taxes then and you won't pay higher taxes ever lol.
Did you do the cash hack program I did cash hack and I got paid $20,000 in just a few hours
You forgot VERA VSIP age 55, age 55 Rule etc.
Thank you sir for the video. I know I have to start taking out funds for TSP at 72, but am I required to physically retire from my job as well? Thank you.
Nope, you can work as long as you'd like. gd
Did you do the cash hack program I did cash hack and I got paid $20,000 in just a few hours
@@kattyhernadez7892 how do you mean? Never heard of that. Thanks.
@@charlesblount6858 this is a program I did a few days ago a friend of mine referred me to the lady who helped me with the program I invested in the program and I got my claim
@@charlesblount6858 you can reach out to the man be assured that he is going to get you paid trust me he is a life saver if you had seen the situation I was in before I got through to him
I’m 52 on SSDI/VA/OPM disability retirement with 23 years total federal time. If OPM takes away my pension before MRA, can I apply for regular OPM retirement at MRA and gain back 23 years of federal service retirement pension?
You'll want to talk to a disability attorney about this: federal-law.com/
Did you do the cash hack program I did cash hack and I got paid $20,000 in just a few hours
14.5 years of military service. Will start federal job inn March. How do I buy my time back to be able to retire from the federal position. Thnx in advance
Benjamin the process to buy back your military time is pretty straightforward. Contact your HRO for guidance once you start the new job. The process involves looking at your military pay history, calculating your total salary over those years, and then figuring out how much you would have contributed to the FERS pension system if those years with that salary had been civilian service. You'll be able to pay in many ways, including an automatic payroll deduction. Note, however, that buying back your military time gives you credit for those years in your pension calculation, but it does not count toward eligibility. For example, I bought back 5 years of military service, but I don't become eligible to retire 5 years sooner.
You better do it quickly as they charge you interest on the buyback. It’s not 1 to 1. I had some civil service as a student and right out of college in 86, I bought that time back and your HR office should help you out. You don’t have to pay it in a lump sum, they do permit payments.
Did you do the cash hack program I did cash hack and I got paid $20,000 in just a few hours
What if you are 60 with 31 of service but need to work 10 more years will I get my full FERS pension.
If you have 31 years at age 60 then you can retire right away with an immediate pension but your pension will certainly increase for every extra year you work.
Did you do the cash hack program I did cash hack and I got paid $20,000 in just a few hours
I thought FERS can retire if worked 20 years and over 50 years old if the agency offer early out? Please clarify.
That is correct if your agency does offer an early out.
Did you do the cash hack program I did cash hack and I got paid $20,000 in just a few hours
If I retire from USPS under FERS and just been approved by Social security,do I get 2 checks or 1 check for both together ????.Do I have to pay Taxes for that money ?.And if I am a Veteran 100% T&P service connected,those 2 disability retirements from Fers and So IAL security affect me some way
Social Security will be paid separately from your FERS pension.
@@PlanYourFederalBenefits Thank you
Did you do the cash hack program I did cash hack and I got paid $20,000 in just a few hours
I am covered by FERS and at age 65 will have 20 years of service. Am I understanding correctly that I would be eligible for medical under FERS?
I just retired last month at age 64.7 with 21 years of service and too my FEHB standard BC/BS with me. Since I already claimed my Social Security survivor's benefit I will automatically be enrolled in Medicare parts A & B which will take effect in February when I turn 65. If I wanted to opt out of Medicare which I don' t, Social Security sends you a opt out form to sign and forward back to them. I also opted to keep FEGLI @ 75% reduction which I will pay the premiums out of my next 4 months annuity benefits which is $38.35/month then at 65 I will pay no further premiums. The payout for me till be 29k which I look at as a funeral policy since I have no children or other survivors to consider for needing additional coverage.
you need to have FEHB within the last 5 years you are working in order to carry it over to retirement
On my FERS I still don't understand..I have been working in gov since 1993...they told me that it is 1% of pay that goes into it but I cannot add to it...I am confused it only has 10,000 in it...so you cannot retire on that...IS it a % of that amount I would get month
Did you do the cash hack program I did cash hack and I got paid $20,000 in just a few hours
@@kattyhernadez7892 what is cash hack and how do I do it
this is a program I did a few days ago a friend of mine referred me to the lady who helped me with the program I invested in the program and I got my claim
you can reach out to the man be assured that he is going to get you paid trust me he is a life saver if you had seen the situation I was in before I got through to him
She is on Instagram
Thank you for your videos as they get me thinking. Do I really need life insurance? I’ve never married and have had no children. Is there a point to having it or is that money wasted in retirement? I probably need to do my research on how much long term health insurance costs as well. My house … who do I leave it to as I have no family within a 600 mile radius. So much to consider…
Yeah, I have the same quandary regarding house and stuff - we don't have kids and really don't have family who we really want to have as beneficiaries to my TSP, etc. if when we both pass......
Are you a current Federal employee and paying for FEGLI? You are an example of someone who probably does not need life insurance if you have no one to leave it to. Just keep in mind if you cancel it open seasons for FEGLI are rare and come around unannounced every 10-12 years or so. Also, if you keep Basic FEGLI into retirement and elect the 75% reduction FEGLI will become free after age 65 and will always be worth 25% of your lest years salary...
I am a current federal employee. My MRA is 10 weeks from now, but plan to keep working a bit longer as I need more time to get my financial ducks in a row. (The joys of a single salary.) I’m paying for FEGLI and the beneficiary is my niece because well… I can’t leave it to my dog. 🤷🏼♀️ It seems like such a waste of money. My home has at least $200K of equity. Maybe that could help pay for long term healthcare should I need it. If I die, I guess I shouldn’t worry about who inherits the home, but I think about it.
Only enough to bury yourself unless you have enough saved
Wow I am guessing you are in a rare situation. Any nieces and or nephews you are close to? Maybe good friend or possibly an organization you are devoted to. You could alway list your things to them.
How do you get FERS turned on if you left a few years ago and no one returns your correspondence?
OPM will be your best bet.
I think you can get the form on the OPM website and fill it out and mail it in and they will start the annunity, thats what I did since a phone never worked for me either.
What if I have TRICARE? Do I need to keep my FEHB?
You don't need to keep FEHB but some feds decide they want to keep it because they don't like Tricare much.
Did you do the cash hack program I did cash hack and I got paid $20,000 in just a few hours
How does my Military retirement impact FERS?
I’m receiving my military retirement now and plan drawing my FERS at 62. Two different payments. The only way know of impacts is if you decide to use your military service time and “buy” it into FERS. I’m not sure why you would do this, but perhaps there is some good trade. I think it only makes sense if you had military service but not retirement. Such as if you only served a few years
Does the 60+20 years apply towards Deferred retirement also?
If you are 60 with 20 years of service then you will qualify for an immediate retirement so you won't need a deferred retirement.
I am receiving FERS Supplemnet i will be 62 soon. Does supplement end at 62 or when i RECEIVE SS!
At 62.
The FERS supplement ends at age 62 but the FERS annunity continues for life and you can receive SS at a later date or at the same time.
Did you do the cash hack program I did cash hack and I got paid $20,000 in just a few hours
Do you have a video on suspending my FEHB?
No but I'll to make one.
When talking about medicare, if you are a military retiree with tricare for life and on part b medicare, do you need on of those advantage or suppment plans?
You certainly don't need them but it is up to you if you want them.
I am a military and FERS retiree. Have had Medicare Part B/TFL for 4 years. I see no reason to take any supplement. I have yet to spend a penny out of pocket for medical care. I did keep my United Concordia dental insurance when I retired from the VA. It is much better than TRICARE retiree dental insurance.
@@texasyank48 Thanks, i started my civ career at the Miami VA before transfering to Capitol Hill.
Hope you caught it, under FERS you walk out the door and have reported income over $18k, your benefits are reduced by one dollar for every two additional over that limit.
Did you do the cash hack program I did cash hack and I got paid $20,000 in just a few hours
LTC - lol... i plan on dropping dead. after a month in the nursing home i am not going back.
Did you do the cash hack program I did cash hack and I got paid $20,000 in just a few hours
I took a Vera/VSIP. I’m 52 with 32 years of service…..mistake. Wish I was educated 🥺
What would you have done differently?
Yup, have BCBS and they reimburse up to $800 per person for Medicare Part B.
How does that work ? I just retired last month and am already signed up for Medicare A & B which when I turn 65 in February my part B premiums will come out of my Social Security survivor's benefit which I claimed 1st and due to get my 1st check around the 10th of next month. Getting some $$ back will be helpful because with my BC/BS standard single, Medicare Part B, dental, and vision I am at close to $500/month for this coverage.
Civil service get retirement benefits paid for by all tax payers.
Why is it the rest of society does not get retirement benefits.
We get no pension, healthcare or pay but yet we pay our entire career for these folks to get benefits.
Just a little social security check that is pitiful to live on and is slowly be depleted by these folks
Blame that on private employers. They're the ones who are screwing over their retirees.
@@badasshiker9637 we all have to pay taxes to support the feds retirement, none left for the rest of us. But it’s all about equality, right!
Too bad that program can’t be shared with everyone since everyone supports it!
Did you do the cash hack program I did cash hack and I got paid $20,000 in just a few hours
great! 殺 study Love the content best Nice! 🍔 subscribed
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