If you are a FERS federal employee in your 50s or early 60s and you are torn between retiring at 57 or waiting until 62, this episode is for you. In this Confident Federal Retirement episode, Tom walks through a simple example to compare retiring at your Minimum Retirement Age versus staying to age 62. You will hear how the FERS pension formula really works, what changes with the 1 point 1 percent multiplier at 62, and how much of the difference is just more years and a higher high-three salary.
In this episode, you will learn:
• How to compare FERS retirement at 57 versus 62 in plain English • What the FERS Retiree Annuity Supplement is and what happens to it at age 62 • How the Thrift Savings Plan can help fill the income gap when the supplement stops • Why FEHB health insurance is often not a good reason to work all the way to 62 • Four key questions to help you decide which retirement age fits your life and your spouse
When you're ready for a personalized plan built around your specific federal benefits, visit https://gtwealthguide.com/federal-blueprint to request your free Federal Retirement Blueprint. We'll map out your federal benefits, TSP, Social Security, and tax plan on one page so you can retire from federal service without guessing.
Get your copy of the Federal Retirement Readiness Blueprint: a 7‑step checklist to pick the right retirement date and see what will actually hit your bank account after survivor benefits, FEHB, and taxes: https://gtwealth.kit.com/federal-retirement-readiness
Federal Retirement YouTube Videos - youtube.com/@TomPoltersdorf