Should You Retire Early Under VERA?
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- Опубліковано 10 лют 2025
- What is the Financial Impact of an Early Retirement from Federal Service?
How does VERA - the Voluntary Early Retirement Authority - work when offered by a federal agency to employees?
Early retirement can be a great thing if it works. But that’s the question - will an early exit allow you to meet your goals and continue living the life you want?
In this video we'll explore the details and how to think about an 'early out' opportunity from federal service.
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Justin, great presentation, liked the two scenarios, thank you! Just one nit/clarification - regarding carrying the FEHB into retirement under a VERA. Have learned that a standing waiver may benefit those who have less than 5 years ongoing: From the OPM VERA Guide: "The benefits officer can also determine if an employee who is retiring from an agency with current VERA or VSIP authority is eligible for a blanket waiver of the 5-year participation requirement under Benefits Administration Letter (BAL) 04-208, dated September 8, 2004." This is of interest to me who timed my 5-yr period with my MRA, but now may have a VERA offered before I get to that age (currently 4 years into FEHB coverage).
Interesting, thanks for sharing!
I have over 24 years of service but I will be 50 years old on March 2025. am I eligible for VERA? My agency is offering it?
Will I get supplement with vera if I'm only 58 and 20 yrs or will I have to wait til I'm 60 to get it.
Great content. Well presented and thorough. Thanks!
My agency says the 5 year fehb requirement will be waived for a Vera retirement. Could this be true?
I will be 62 in 6/2025 with 7 1/2 yrs fed employment . Does Vera apply to me . Please explain
47 years old 28 years federal service. Under a Vera or Vsip can I with drawl from my tsp and not be penalized 10%?
My understanding is only if you are a special category employee would you be eligible to access TSP penalty free in this circumstance.
remember the gross salary is not what you receive, its gross -FICA, medicare, tsp contributions, federal/state taxes, health insurance, FEGLI and vision/dental
Great info. Just to confirm if I were to take a VERA but my MRA is normally 57. I could take out TSP penalty free at 55? I thought I had to wait until 57 then?
if you retire at or after 55 you can access your TSP penalty free
@@justinholtz thank you!
I'm trying to locate how to contact you
You can message me at jholtz@districtfa.com
The majority of your viewers do not make over $150k a year so I wish presenters like you would stop using high 3 salaries over 100k to be more practical
Could it be that you're not in Northern VA, where he is, and where it probably is the average?
@kevmo1990 could it be that the majority of his viewers are NOT from Northern Virginia? Are you implying that the video is only designed for Northern Virginians?
@kevmo1990 Average salary
According to ZipRecruiter, the average annual salary in Northern Virginia was $30,053 in January 2025.
The average annual salary in Fairfax, VA was $70,937 in May 2024. So where did that $150k come from?
@@nikbayani3990it’s in the video. He actually says 160k
@@nikbayani3990 Now do the "average" annual salaries for federal government employees in N. Virginia.
Who makes 160,000 ? I make 76,000