http://www.psretirement.com/applying-for-benefits/ When a federal employee dies family members or representatives must apply for benefits. Benefits are not automatically distributed. The forms differ depending on the retirement system your deceased family member was a part of. Standard Form (SF) 2800 is used for those individuals who were covered under the Civil Service Retirement System (CSRS). StandardRead… Read more »
http://www.psretirement.com/death-and-former-spouses/ You might say what does a former spouse have to do with the business of the deceased federal employee. You might be surprised under certain circumstances, that the former spouse may have more to do with the business than you can imagine. Actually the Basic Employee Death Benefit (BEDB) may be payable to theRead… Read more »
http://www.psretirement.com/federal-postal-employee-retirement-planning/ If you are planning to retire in ONE year think about concentrating on a few things that might help to keep you on track and make certain you don’t miss out on anything. • Confirm when you will be eligible to receive your full retirement benefit. FERS Eligibility CSRS Eligibility • Have a benefitRead… Read more »
http://www.psretirement.com/getting-ready-for-federal-retirement/ Getting ready for retirement means putting plans in place for perhaps one of the biggest transitions you will make in your life. Some things you should consider if you are planning to retire in 5 years. • Have a Federal Employee Benefit Analysis performed. • Ask your employer exactly what they can do inRead… Read more »
http://www.psretirement.com/federal-employee-financial-plan/ Are you a Federal Employee? Do you realize how important a financial plan really is at every stage of your life? Having a financial plan is probably the most important part of managing your financial life. Having a sound, flexible financial plan today is more important than it has ever been. Resources are limitedRead… Read more »
PSRetirement.com The rules for your Thrift Savings Plan are pretty straightforward while you are working, but they become increasingly more complex as you enter retirement and attempt to access the money that you have saved in your TSP.gov account. You have 5 withdrawal options for your Thrift Savings Plan that you can select from. OptionRead… Read more »
http://www.psretirement.com/the-federal-financial-advisor/ I was recently asked if my trainer of financial advisors and planners interested in the federal workforce differed from training federal workers? Without missing a beat, I said most emphatically “It certainly does.” It is more intense because financial advisors and planners need to know more about the Federal Retirement Systems than the federalRead… Read more »
The Office of Personnel Management (OPM) has proposed a “Phased Retirement” program. Although implementation has not been announced, it may be valuable to our readers to get a jump start on what Phased Retirement is all about. The Office of Personnel Management realizes the importance of preserving and protecting institutional knowledge. As federal employees leaveRead… Read more »
http://www.psretirement.com/all-your-tsp-money/ Within your TSP.gov Account the money you invest in the Thrift Savings Plan (TSP) and the agency match is yours immediately and you are therefore vested. However, the agency’s automatic 1% contribution has a few strings attached. For individuals in the Civil Service Retirement System (CSRS), this is not a concern. CSRS employees mayRead… Read more »
http://www.psretirement.com/windfall-elimination-reductions/ The Windfall Elimination Provision (WEP) only impacts individuals who earned a pension in any job and did not pay Social Security taxes, but worked long enough in other jobs to be eligible for Social Security Retirement or benefits due to disability. The Windfall Elimination Provision impacts Social Security benefits when any of an employee’sRead… Read more »