Longevity and Retirement Planning

"...Longevity risk–the chance you will outlive your savings–may be the greatest risk federal retirees face today. Developing a sound financial plan is essential to ensure your “savings well” does not run dry too soon. The federal retirement system is both unique and complex for its 2.8 million current employees. This system includes the U.S. Postal Service, a quasi-governmental agency that employs the largest percentage of the civilian federal workforce.1 For optimal results, employees should begin planning for their retirement up to 10 years prior to their planned retirement date. It is imperative that federal employees understand their benefits and how each piece fits into their financial puzzle...."

Read more at Forbes

Help Ensure 'Healthy' Retirement Processing

"...The Office of Personnel Management recently issued guidance to agencies on how to submit “healthy” retirement packages for prospective retirees. You can keep an eye out to ensure your agency is correctly carrying out its part, which includes:..."

Read more at FederalTimes.com

Tips to Prepare for Early Retirement

"...there are times when you have to cram planning into a year or less — for example, if you are given an opportunity to retire early or offered a buyout. Even a little time wisely spent can produce a big payoff. So, here’s my “to do” list for you...."

Read more at FederalTimes.com

Important to Plan Ahead for Retirement

"...With all the talk about sequestration, reduced budgets, and early-out and buyout offers, it would be surprising if even the youngest feds aren’t thinking ahead about retirement. If you are nearing eligibility to retire, there are things you can do to get ready. And the sooner you do them, the better off you’ll be when the moment arrives to leave...

Ideally, you should plan five years ahead. That’s because you have to be continuously enrolled in the Federal Employees Health Benefits Program (FEHBP) and the Federal Employees’ Group Life Insurance (FEGLI) program for five years before..."

Read more at FederalTimes.com

Top Mistakes To Avoid When Considering Federal Retirement

"...Congratulations on a valuable career in federal service and your upcoming retirement! Before you send in your retirement papers, though, there are a few things you will want to take a closer look at to make sure you are getting the most out of the benefits you have earned. The following list covers some of the more common mistakes that federal employees can make at retirement. Keep in mind that everyone’s situation is different, and these recommendations are intended only to be general in nature..."

Read more at fedsmith.com

LIfe Insurance Basics for Federal Retirees

"...One of the key decisions you must make when you retire is what to do about your life insurance coverage.

Federal employees are automatically enrolled in the basic version of the Federal Employee's Group Life Insurance plan when they are first hired and can add optional insurance to supplement it...

This week, I'll review basic FEGLI coverage options..."

Read more at govexec.com

Retirement Checklist

"...Retirement planning should begin at least five years out from a fed's expected retirement, Flanagan said. Employees should request their first retirement estimate, which explains how much they'll draw in income after retirement. And within a year of retirement, feds should start filling out all the paperwork..."

Read more about Flanagan's retirement checklist at Federal News Radio

Federal Retirees Working While on Disability

"...While there are no restrictions on your being employed while on disability retirement, if your earnings from wages or self employment exceed..."

Read more at federaltimes.com