Save Don’t Spend One concept that should be a part of the fabric of our being is save, save, save during the last five years of our federal work career. Hopefully you have been contributing to your TSP since you began working, but certainly the last 5 years before retirement is a time you shouldRead… Read more »
http://www.psretirement.com/social-security-fers-employees-todd-carmack/ I am often asked by clients “When should I start taking my Social Security payments?”. There is no single right answer to that question because everyone designs their retirement differently. This added income can make a difference on when you decide to retire and how much of a benefit you are willing to accept.Read… Read more »
Understanding Your FEGLI Coverage, by Todd Carmack As a benefit counselor and retirement income specialist, I have come to realize that a lot of employees do not remember what they signed up for or understand their federal employee group life insurance (FEGLI) coverage. An outline of FEGLI coverages available; Basic FEGLI Coverage – if elected,Read… Read more »
http://www.psretirement.com/older-people-and-work/ Do older people work to survive or because they want to stay in the game? I believe the answer is YES to both. In our society we segment people often without giving it much thought. There are older people in the Congress, even in the White House just moments away from the most powerfulRead… Read more »
Are you saving like you should? Our tips below will help you out, no matter where you are in your public sector career. I happened to be in a government building in Texas last week when I noticed a sign encouraging active participation in a retirement plan. It read: “I’ll save for retirement when I’mRead… Read more »
http://www.psretirement.com/now-or-later/ There was a candy years ago called Now-Later. I believe it was called Now-Later because if you chewed it now, it lasted so long you would still have it for later. Well, when it comes to when to collect Social Security benefits I am not so sure if the Now-Later theory actually works orRead… 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 »
For the second month in a row, the Thrift Savings Plan’s S Fund returned in the red. And in fact if you look over 12 months, the S Fund is up more than 20%. According to statistics from the Federal Retirement Thrift Investment Board, all other TSP funds yielded gains in April, albeit small ones.Read… 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 »
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 »