FEDNOBABBLE: Recent Episodes
Kevin Jones & Cassie Knight
Fednobabble - Making Federal Benefits Understandable for Humans(in under 20 minutes)To get a comprehensive report on your federal retirement benefits:http://fednobabble.comNo cost, no obligation, no sales pitch. No kidding.Want us to ask a question for us to answer? http://fednobabble.com again.Created by:Kevin Jones of http://FedPilot.comand Cassie Knight of http://FedOpt.com
The government made changes to the Thrift Savings Plan (TSP) by introducing a mutual fund window in 2022, offering access to 5,000 additional mutual funds beyond the typical GFC Sni funds. To explore these mutual funds, individuals can log into tsp.gov, create a mutual fund window account, and assess the fees associated with these funds. Despite the potential for higher fees, it's essential to evaluate if utilizing these mutual funds aligns with your financial goals and risk tolerance.Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.Register: https://fedpilot.com
The Survivor Benefit Plan provides money and access to health care for a spouse if an employee were to die before retirement, with the benefit being free and automatic. After retirement, the spouse can still access the plan, but the employee would need to start paying for it if desired to continue the coverage.Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.Register: https://fedpilot.com
We want to highlight the importance of distinguishing between different Service Computation Dates (SCDs) for retirement and leave purposes. While the SCD for retirement can be found on pay stubs, the SCD for leave is different and crucial to understand to avoid making poor decisions.
To adjust contributions in your TSP, access your employee portal and modify the settings either by a percentage of your salary or a specific dollar amount. Opting for a percentage allows for automatic adjustments with raises, suggesting a strategy of saving extra income for retirement.Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.Register: https://fedpilot.comWant to ask a question for me to answer in a video? Ask at https://fedpilot.com/contact-us#heyfeds #fedpilot #federalemployees #federalretirement #federalbenefits #RetirementPlanning
In retirement, FHB premiums are taken out of your pension, but not all other deductions. Different parts of your pension have different rules. Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.Register: https://fedpilot.com
We want to highlight the importance of asking questions about retirement benefits, such as net pension and social security amounts, maximizing income and minimizing expenses, and tips to increase benefits. Attending workshops can help individuals ask the right questions to maximize their retirement.Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.Register: https://fedpilot.com
Remember to take in consideration the diferences between FEGLI and private life insurance, emphasizing that the best choice depends on individual circumstances. There is the option to increase FEGLI after certain life events, but we also suggest evaluating the cost and value of private life insurance. We want to highlight the importance of regularly assessing one's insurance needs and adjusting policies accordingly.Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.Register: https://fedpilot.com
We want to share our advice on the best day to retire being the last calendar day of the month for maximum benefits. Contrary to HR suggestions, retiring at the end of a pay period may not be in employees' best financial interest. Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.Register: https://fedpilot.com
The workshop on retirement benefits is far from boring; participants express surprise at the engaging content, with comments like "great presentation" and "I feel like such a newbie." We want to emphasize the importance of taking action after learning, we ensure participants will stay awake, engaged, and motivated throughout the workshop! Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.Register: https://fedpilot.com
In federal workshops, it is crucial that the individual assisting with retirement planning comprehends Federal benefits to avoid costly mistakes common with generalists lacking specific expertise. We emphasize the necessity of seeking help from professionals with experience in dealing with federal employees to leverage insider knowledge and maximize benefits through various "hacks." My non-negotiable advice stresses the significance of understanding Federal benefits when crafting a retirement plan, highlighting the potential pitfalls of relying on generalists unfamiliar with the intricacies of federal employment.Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.Register: https://fedpilot.com
A valuable lesson for retirement planning we'd like to emphasize is the need to not only learn about benefits but also ensure proper execution to avoid wasted efforts or ineffective strategies. Just like in workshops, in retirement planning, it is essential to have guidance and validation to steer towards the right path for a successful outcome.Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.Register: https://fedpilot.com
n discussions about survivor benefits during a workshop, it was clarified that once retired, individuals cannot easily rejoin the benefits system later. There might be a workaround through marriage. This highlights the importance of making informed choices during retirement paperwork as each benefit has unique rules and exceptions.Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.Register: https://fedpilot.com
We talked about the importance of considering Medicare Part A and Part B eligibility and penalties when planning for retirement healthcare. We want to emphasize the necessity of making informed decisions early to avoid unnecessary costs and ensure adequate coverage. Additionally, remember the significance of evaluating other healthcare options like TRICARE to optimize benefits and minimize expenses.Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.Register: https://fedpilot.com
By understanding what deductions are made from the pension before it reaches their bank account, people realize the need for additional retirement savings. Taking proactive steps to adjust, optimize, and plan for retirement can lead to a more financially secure future compared to solely relying on government support.Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.Register: https://fedpilot.com
We wanted to discuss the ability to stop paying the monthly premium for Medicare Part B at any time without penalty, highlighting the importance of considering the potential consequences of dropping coverage. We'd like to emphasize the complexity of Medicare rules and the need to understand the specific guidelines for each benefit to make informed decisions.Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.Register: https://fedpilot.com
Something to consider when planning for retirement is how to convert a regular TSP to a Roth TSP to avoid taxes in retirement. However, the TSP does not allow this conversion. Moving the money to an IRA and doing a Roth conversion can help save on taxes. It's important to plan when to be taxed in retirement.Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.Register: https://fedpilot.com
We want to emphasize the importance of asking questions about taxation and retirement planning, highlighting that no question is dumb. By questioning whether pensions get taxed, individuals can uncover a broader understanding of how taxation impacts their income and retirement benefits. The encouragement to ask questions and seek knowledge ultimately leads to a more informed approach to retirement planning.Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.Register: https://fedpilot.comWant to ask a question for me to answer in a video? Ask at https://fedpilot.com/contact-us
Federal employees can fully retire at 62 with 5 years of service minimum, or at 60 with 20 years of service. For the Furs retirement system, hitting the minimum retirement age and having at least 30 years of service is crucial, but there is no penalty for retiring at 62 with less than 30 years of service.Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.
We like to emphasize the importance of not solely relying on general rules or emails for retirement decisions, using the example of potential penalties for retiring at 57 with a pension. While there may not be a direct penalty, the delay in receiving a cost of living adjustment until age 62 could be seen as a detriment to one's finances. The key takeaway is to carefully assess individual circumstances and make informed decisions rather than following broad guidelines.Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.Register: https://fedpilot.com
The decision to take Social Security benefits at age 62 comes with considerations about potential increases in the benefit amount. While taking benefits locks in a certain price, there are still annual cost of living adjustments that provide incremental increases. The decision between taking benefits early and waiting for larger increases involves careful planning to ensure receiving the maximum amount deserved.Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.Register: https://fedpilot.com
Federal employees often worry about their financial security and healthcare options in retirement. It is crucial to plan ahead and make informed decisions to ensure peace of mind throughout retirement.Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.Register: https://fedpilot.com
We discussed the necessity of having a Qualifying Life Event (QLE) to make changes to one's insurance policy, specifically focusing on the need for a QLE when increasing the coverage. It emphasizes that events like birth, marriage, or death qualify as QLEs, while retirement does not. Additionally, it warns about potential cost increases in insurance coverage every five years and advises viewers to evaluate if the added coverage aligns with their financial needs.Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.Register: https://fedpilot.com
RMDs (Required Minimum Distributions) apply to traditional TSP contributions, where the IRS mandates withdrawals based on age to collect taxes. In the past, RMDs were also taken from Roth contributions, although it didn't align with taxing Roth accounts. However, the law has been updated to only require RMDs from traditional TSP contributions, making the process more logical and in line with tax principles.
Understand the intricacies of how part-time work counts towards eligibility and benefits for federal employees with our video. While part-time work does count towards eligibility, the calculation for benefits considers the hours worked over the entire career, resulting in a prorated amount. Despite confusion, working part-time for a significant duration can still make an individual fully eligible for benefits at a certain age.Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.Register: https://fedpilot.com
The general rule for Federal Benefits (FB) after retirement dictates that if an action can be done as an employee with FB, it can also be done as a retiree. This principle applies to making changes during Open Season, having a spouse on the plan, and selecting specific FB plans. While there are exceptions, this rule serves as a guiding principle for making decisions regarding FB in retirement.
We encourage individuals to regularly check the accuracy of their Social Security statements by logging into their accounts and reviewing each year's earnings closely. By ensuring the numbers align with one's actual income and comparing them to tax forms, discrepancies can be easily identified. This practice is crucial as the data is pulled from the IRS and any significant discrepancies should be addressed promptly.
Having both Medicare Part B and FB provides peace of mind by knowing exactly what healthcare expenses will be covered. Paying two premiums may seem redundant, but it ensures budgeting for healthcare without unexpected costs. Attending workshops can provide detailed information and clarity on the best healthcare options for peace of mind in retirement.Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.Register: https://fedpilot.comWant to ask a question for me to answer in a video? Ask at https://fedpilot.com/contact-us
The federal government may not provide extensive information about retirement benefits due to resource limitations and reduced HR teams. Additionally, there may be a convenient but unintentional benefit for the government in not disclosing all retirement details, as it saves them money if individuals are unaware of how to maximize their benefits. However, it is important for individuals to consider these perspectives and seek out information to make informed decisions about their retirement.
It is crucial to obtain the certified summary of federal service from OPM to ensure accurate retirement benefits. Many individuals have experienced issues where OPM did not recognize their complete service history, leading to complications in retirement. It is advised to obtain this report periodically, even every five years, to ensure OPM's records are accurate and updated.Join us at a Fed Pilot workshop (webinar or in-person) and learn about your benefits and how to prepare for retirement. The earlier in your career, the better.Register: https://fedpilot.comWant to ask a question for me to answer in a video? Ask at https://fedpilot.com/contact-us
It is possible to have two Roth accounts, one within the TSP and another outside of it. However, it is important to note that these accounts have different rules and should be managed accordingly. The rules governing funds within the TSP may be different from those outside, and it is crucial to understand these distinctions in order to make informed decisions about where to house your money throughout your career and into retirement.
Federal employees who are planning to retire and move to another state need to consider the impact of state taxes on their pension. It is important to determine when to change their address to ensure that mail is sent to the correct location. The timing of changing the address may not be a significant concern. It is essential to prioritize important matters and not get overly concerned about less significant ones. https://fedpilot.com
It is crucial to seek help and guidance in the complicated federal retirement process to avoid making mistakes that could have long-lasting consequences. Statistics show that the majority of retirement applications contain mistakes, highlighting the need for assistance. By continuously learning, subscribing, attending workshops, and seeking help, you can ensure a smooth transition into retirement and a secure future. https://fedpilot.com
We Received a unique question about whether Social Security benefits will reduce government pensions by 2/3. Thankfully the answer is No! However, it is extremely important to understand individual rules for retirement rather than relying on rumors or misconceptions. We help you make sure the rules you're following for your retirement are right for YOU, not for someone else. https://fedpilot.com/
The Survivor Benefit Plan provides financial support and healthcare to spouses in the event of the retiree's death. However, if the spouse passes away first, the retiree can inform the Office of Personnel Management (OPM) and stop making payments to the program. https://fedpilot.com
During a Fed Pilot Workshop, we discussed how Interim pension checks are received when retirement hasn't been fully adjudicated, which can take months. These checks are only between 40 to 60% of what the retiree deserves. Deductions for state taxes, dental and vision, and long-term care are not taken out of the interim pension checks, meaning retirees have to pay for these expenses out of pocket. We know how crucial it is to be financially prepared for the first year of retirement to cover these additional costs. https://fedpilot.com
We received a question asking "Is there any lapse of coverage in my FEHB?" and the answer is NO! Understanding the details of how they make the coverage work can be complicated, let's just say, you're covered! https://fedpilot.com
Currently, there is no requirement to enroll in Medicare Part B if you are keeping your Federal Health Benefits, but this may change in the future. It is important to stay updated on the rules and regulations as they can change over time, and attending workshops can help ensure you understand and are prepared for any changes. https://fedpilot.com
In our Fed Pilot retirement benefit workshop, we emphasize that participants should not make material changes without having a plan in place. Making changes without a plan may result in making the wrong decisions or timing the changes incorrectly. It is crucial to have a clear understanding of one's situation and goals before making any changes to retirement benefits. https://fedpilot.com
When choosing a day to retire there are a few things to consider. Retiring at the last day of the month means you'll receive the retiring benefits on the first day of the following month, so some people like this strategy because they won't have a gap in their finances. Something more important to consider is your own mental and physical limitations, these are far more important than a 2 week paycheck. Always think about what your goals and priorities are! https://fedpilot.com
Retiring internationally involves considerations such as taxes, healthcare coverage, and long-term care. While you will be taxed by the US federal government regardless of your residence, you may also be subject to tax in the country you retire in. While FHB has international healthcare plans, it is essential to verify if they cover all your needs. Additionally, it is important to determine if your long-term care strategy, whether self-funded or through insurance, will provide coverage in your chosen country of retirement. https://fedpilot.com #heyfeds #fedpilot #FederalEmployees #federalretirement #FederalBenefits #retirementplanning
We want to highlight the importance of double-checking insurance and benefits documentation to ensure accuracy. With Linda's experience we learned, that her life insurance was coded incorrectly in the computer system after her husband passed away, and we want to help you avoid situations like this. We want to remind our Feds how important it is to review all their forms and ensure that any changes made to their benefits are correctly reflected in the system. https://fedpilot.com
FedPilot has live workshops for federal employees and agencies, both in-person and online. We love the face-to-face interaction and the opportunity for real discussions and question-and-answer sessions. This is where we get to meet federal employees and understanding their needs to provide the necessary information.
In this transcript, Kevin discusses the taxation process for loans from the TSP (Thrift Savings Plan). While TSP loans have a low interest rate and allow individuals to pay themselves back, there are important tax implications to consider. He explains that the tax on TSP loans is paid twice. Initially, when the loan is taken out, there is no tax on the loan itself. However, when individuals start repaying the loan, they use post-tax money, meaning the amount they repay has already been taxed. Additionally, when the loan is eventually withdrawn as a distribution, it is taxed again. This means that a significant portion of the loan may end up being paid in taxes, potentially up to 50% depending on the individual's tax level.
He emphasizes the importance of understanding these tax implications well before retirement, as TSP loans can be taken out long before that stage. He encourage individuals to learn about these concepts and nuances early on to avoid potential mistakes and uncomfortable financial positions in the future. By educating themselves about the taxation process, individuals can make informed decisions regarding TSP loans and avoid unexpected tax burdens down the line.
Kevin addresses a question about the Special Retirement Supply (SRS) and how it is distributed. They explain that the SRS is included in the normal pension check received by retirees. However, he caution that the SRS may not be automatically received during the initial period of up to a year or more, known as the interim pension check phase. During this time, retirees only receive a portion of their full pension amount, and the SRS is not included. Once the full pension is determined and regular payments begin, the SRS will be included, both retroactively and going forward. He emphasizes that the timing of receiving the SRS is variable and dependent on the individual's specific circumstances.
In addition, Kevin highlights the importance of considering timing when estimating pension payments. They explain that the amount received may vary greatly depending on how long it takes for the pension application to be processed. Backlogs in processing can result in delays where retirees receive no pension payment for several months. He encourages individuals to attend workshops to gain a better understanding of these nuances and to learn more about the timing and details of pension payments.
In this transcript, Kevin addresses a question about the impact of VA disability benefits on the Special Retirement Supplement (SRS) for federal employees. The earnings test associated with the SRS determines if retirees are eligible for the benefit based on their income. He clarifies that VA disability benefits do not count towards the earnings test. The SRS only takes into account income earned through work, such as wages, while other sources like VA disability payments, pensions, or investment returns are not considered. He encourages listeners to attend workshops for further information on this topic.
Overall, Kevin explains that receiving VA disability benefits will not affect one's eligibility for the Special Retirement Supplement. The earnings test only considers income from work, not other sources of income.
Join us at a Fed Pilot workshop (webinar or in-person) and not only learn about your benefits, but how to prepare for retirement. The earlier in your career, the better.
Register: https://fedpilot.com
Want to ask a question for me to answer in a video? Ask at https://fedpilot.com/contact-us
In this transcript, Kevin discusses the F-E-H-B (Federal Employees Health Benefits) program and its applicability in retirement. He clarifies that the five-year rule for F-E-H-B does not require one's spouse to be a part of it, allowing them to be added as a plus one in retirement. He highlights that the medical benefits received during employment continue into retirement, meaning that the ability to add a plus one during open seasons or after getting married remains the same. While there are a few exceptions to this general rule, the F-E-H-B program is considered to have fewer caveats for retirement compared to other benefits. Kevin expresses a positive view of F-E-H-B, acknowledging its complexity but emphasizing its value, except for the military's trikeer program, which surpasses it in certain aspects.
Overall, Kevin offers a concise summary of the F-E-H-B program, emphasizing its flexibility in terms of adding a spouse as a plus one in retirement. He also highlight the program's comparably fewer retirement-related caveats, expressing a favorable opinion of F-E-H-B's benefits.
In this transcript, Kevin discusses Medicare coverage and the need for additional plans to cover prescription drugs and expenses not covered by Medicare Part B and D. He highlights the importance of understanding the different options available, such as Medicare supplementals and combinations, to ensure comprehensive coverage. He emphasize that Medicare only pays 80%, leaving individuals responsible for the remaining 20%, which may become more expensive as they age. He encourages attending workshops to learn about these options and make informed decisions regarding Medicare Part B and A.
In summary, Medicare Part B does not cover prescription drugs, which requires individuals to obtain Medicare Part D for drug coverage. However, even with both Part B and D, certain expenses may remain uncovered by Medicare. He advises exploring alternative options, such as supplementals and combinations, to address these gaps in coverage and prepare for the 20% co-payment. Attending workshops is recommended to gain a better understanding of Medicare and make informed choices.
Kevin discusses the possibility of collecting both a military pension and a federal pension simultaneously. He clarifies that this is possible if an individual retired from the military and then had a separate career with the federal government as a civilian, accumulating the necessary years of service to qualify for a federal pension. However, it is important to note that typically these pensions cannot be collected for the exact same time period, as they represent different phases of one's career.
He also mentions a potential bonus for those who were in the reserves. In certain cases, there may be an overlap where individuals can receive two pensions for a portion of their service, resulting in full pensions for that specific period. This information is seen as a valuable secret, as many reserve members are not aware of this possibility. He encourages those in this position to ensure they receive all the entitlements they are eligible for, indicating a willingness to help navigate the process.
Kevin emphasizes the importance of updating beneficiaries in the Thrift Savings Plan (TSP) for federal employees. He explain that when a person dies, the assets in their TSP account will go to the designated beneficiaries. However, he warn that the new TSP website may have deleted some beneficiaries' information, so it is crucial to check and update beneficiaries immediately. Kevin advises not to rely on the standard order of precedents and urges viewers to complete beneficiary forms not only for the TSP but also for three other places, without specifying what those places are. He suggest attending a workshop to learn more about this important aspect.
In summary, the transcript emphasizes the need to update beneficiaries in the TSP and other forms for federal employees. It highlights the potential issue with missing beneficiary information on the new TSP website and encourages viewers to take immediate action to ensure their assets go to the intended beneficiaries.
In transcript, Kevin addresses a common misconception about federal employees' health insurance. He clarify that federal couples, who are both federal employees, do not necessarily need to have separate health insurance plans. Instead, they can opt for a self plus one plan, where the government still covers a portion of the premium. He emphasizes that the decision to have separate plans might be based on cost considerations, as sometimes two self-only plans can be cheaper than a self plus one plan. He encourages individuals to attend their workshops to gain a better understanding of the correct approach to federal employee health insurance.
In summary, contrary to popular belief, federal couples do not have to have separate health insurance plans. They can choose a self plus one plan and still receive a portion of the premium covered by the government. The decision to have separate plans might be based on cost factors. Attending the speaker's workshops is recommended to learn more about the correct approach to federal employee health insurance
In this transcript, Kevin addresses the question of how part-time work affects federal employees' retirement benefits. He explain that part-time hours are treated as if they were full-time when calculating retirement benefits. For example, if someone worked four years part-time, those years are included in the formula as if they were four full-time years. However, the actual calculation is prorated based on the number of hours worked during the part-time period. He acknowledges that they haven't personally verified if the outcome would be the same if calculated differently, but it is important to follow the same calculations as the Office of Personnel Management (OPM) to ensure accurate results.
In conclusion, part-time years are considered in the retirement benefits formula as if they were full-time, but the calculation is adjusted based on the number of hours worked. He emphasizes the importance of using the same calculations as OPM to ensure consistency in results.
In this transcript, Kevin addresses a question regarding state taxes on federal retirement in Kansas. He explain that whether or not state tax is charged on retirement income depends on the specific source of income. While Kansas does not charge state tax on pensions, they may or may not charge it on Social Security and the Thrift Savings Plan (TSP), depending on factors such as whether it was contributed to the Roth or traditional account. The complexity of state tax laws highlights the importance of understanding and maximizing retirement income to avoid overpaying taxes. He encourages attending workshops to learn strategies for lowering taxes and maximizing retirement savings.
Overall, the transcript emphasizes the need to carefully navigate state tax laws to ensure retirees do not pay unnecessary taxes and can make the most of their retirement income.
In this transcript, Kevin addresses a question about the Federal Employees' Group Life Insurance (FEGLE) coverage. He clarify that FEGLE does offer automatic approved coverage, regardless of the individual's health situation, but only when they are first hired or during rare open seasons. He emphasizes the importance of understanding this from the beginning of federal service to avoid missing out on this coverage. He encourage sharing this information with others who have just started and highlight the benefits of learning about FEGLE early on.
Overall, the transcript emphasizes the limited opportunities to access FEGLE coverage without any health conditions and underscores the necessity of being well-informed about the insurance options available during the early stages of federal employment.
Kevin emphasizes the importance of understanding and defining terms accurately when discussing retirement. He highlight the confusion that can arise when terms are mixed up, particularly in relation to the concept of a survivor. He clarifies that being a survivor implies that someone has passed away, and therefore, being alive and a survivor simultaneously is not possible. He also mention that there is no beneficiary form for the Federal Employee Health Benefits (FEHB) program, but there is a survivor benefit program that allows a spouse to continue having FEHB if the employee passes away. He encourages continuous learning, attending workshops, reading, and researching to gain a clearer understanding of retirement terms and avoid confusion.
In summary, he emphasizes the need to accurately define terms when discussing retirement. He debunk the confusion surrounding the term "survivor" and highlight the absence of a beneficiary form for FEHB. He stress the importance of ongoing learning and research to gain a better understanding of retirement concepts and avoid confusion in planning for retirement.
In this transcript, Kevin addresses a question about the impact of working while receiving Social Security benefits. He explain that if someone retires at 62 and starts drawing Social Security, they may still work, but there is an earnings test that can result in a penalty. The earnings test applies if the individual is working before reaching their full retirement age (FRA), usually around 66 or 67. If the person is 62, it is likely they will be penalized if their income exceeds the threshold of around $22,000.
He advises against continuing to work while receiving Social Security benefits before reaching FRA, as it can lead to penalties. He highlight the importance of having a solid retirement plan to avoid unexpected financial situations where individuals may need to return to work and end up not receiving the Social Security benefits they are entitled to. He suggest attending workshops to learn more about how Social Security and the earnings test work and how to navigate them effectively.
Kevin discusses the impact of divorce on federal benefits such as the Thrift Savings Plan (TSP) and pension. He clarifies that while divorce can often affect these benefits, it is not always the case. The extent of the impact depends on various factors, including court proceedings and the quadro. The speaker advises individuals going through or planning for a divorce to seek legal representation that understands federal benefits to ensure they are adequately protected and receive the best deal in terms of federal benefits. He concludes by encouraging the audience to attend workshops where they can learn more about these topics.
In summary, he emphasizes the importance of understanding how divorce can affect federal benefits. It highlights the need for legal expertise in this area and encourages individuals to educate themselves further through workshops.
In this transcript, Kevin discusses a question posed in one of their workshops regarding life insurance. The person asking the question is 62 years old with considerable savings and no spouse to leave money to after their passing. Instead of immediately considering reducing the life insurance to the basic plan, he suggests questioning whether life insurance is even necessary for this individual. They point out that at 62, the premiums could be expensive and that there may be more cost-effective options available outside of the specific plan mentioned. He emphasizes the importance of thoroughly examining all the relevant factors and considering alternative options before making a decision.
He also mentions the need to ask the right questions when it comes to life insurance. He encourage attendees to their workshop to not only seek answers to their inquiries but also to identify the questions they may not have thought to ask. This highlights the importance of exploring all possibilities and ensuring that individuals make informed decisions about their life insurance needs.
In this transcript, Kevin addresses a question about whether it is better to put money into an IRA Roth or a TSP Roth for someone who is retiring in one year. He emphasizes that there is no one correct answer and it depends on individual circumstances. Assuming the person is 60 years old and planning to retire at 61, they have the option to contribute $30,000 to their TSP Roth account. If they meet the income limits, they can also contribute a significant amount to an IRA Roth. However, he highlights that there are tax implications and other factors to consider. They encourage attending workshops to learn more about these issues and make informed decisions based on personal circumstances.
Overall, Kevin emphasizes the importance of understanding what is right for each individual when it comes to retirement planning. They suggest attending workshops to gain knowledge and ask personalized questions. By doing so, individuals can make informed decisions that align with their specific needs and goals.
In this transcript, Kevin addresses a question about whether it is better to put money into an IRA Roth or a TSP Roth for someone who is retiring in one year. He emphasizes that there is no one correct answer and it depends on individual circumstances. Assuming the person is 60 years old and planning to retire at 61, they have the option to contribute $30,000 to their TSP Roth account. If they meet the income limits, they can also contribute a significant amount to an IRA Roth. However, he highlights that there are tax implications and other factors to consider. They encourage attending workshops to learn more about these issues and make informed decisions based on personal circumstances.
Overall, Kevin emphasizes the importance of understanding what is right for each individual when it comes to retirement planning. They suggest attending workshops to gain knowledge and ask personalized questions. By doing so, individuals can make informed decisions that align with their specific needs and goals.
Kevin discusses the availability of life insurance through FEGLI for individuals with cancer. He explains that while FEGLI may become expensive over time, it remains an option for those who already have it, even if they develop cancer. They emphasize the importance of having a plan before making any decisions and caution against canceling FEGLI without considering alternative options, as it may be difficult to obtain private life insurance later on. He encourages attending their workshops to gain more knowledge about FEGLI and other retirement benefits.
In summary, the transcript highlights the advantage of FEGLI's life insurance coverage for individuals with cancer, as it allows them to retain the insurance even if it becomes expensive. It also emphasizes the necessity of having a plan before taking action and warns against canceling FEGLI without exploring alternatives. Attending the workshops is recommended to learn more about FEGLI and other retirement benefits available.
Kevin addresses a question about Medicare Part B and emphasizes the importance of proper planning. He explain that individuals cannot obtain Medicare Part B before the age of 65. Once they reach 65, they have the flexibility to decide when to enroll, even beyond the age of 100. However, the speaker cautions that delaying enrollment may result in penalties. For example, if someone delays enrollment until the age of 68, they will incur a 10% per year penalty, leading to higher costs for the rest of their life. He encourages attending workshops to gain a better understanding of medical benefits, how they interconnect, and how to make informed decisions.
In summary, individuals cannot acquire Medicare Part B before turning 65. After reaching 65, they have the freedom to choose when to enroll, but delaying enrollment may result in penalties. Attending workshops is recommended to learn more about medical benefits, their implications, and how to navigate them effectively.
Kevin addresses a common misconception about adding money to the Thrift Savings Plan (TSP) after retirement. He explain that once retired, individuals cannot contribute additional funds to their TSP, even if they have inherited money or wish to continue saving. While the TSP can still grow if money is not withdrawn, no new contributions are allowed. He encourages creative thinking and planning for retirement, but emphasizes the importance of understanding the rules and limitations surrounding the TSP.
He also highlights the value of attending retirement workshops to develop a comprehensive retirement plan. They express appreciation for individuals who think creatively about their retirement goals, but caution that not all ideas are feasible within the TSP framework. By attending workshops and seeking guidance, individuals can better ensure they have a solid plan in place for their retirement.
Kevin discusses the survivor benefit program for federal employees. It is automatic for married employees, but their spouse can elect to receive a lesser or no amount of benefits by signing a form and having it notarized. This is to ensure that the spouse is part of the retirement process and agrees to the benefits they will receive. He notes that this decision should be made carefully, as it is a complicated process that must fit with other benefits.
Overall, the survivor benefit program is important but complex. He recommends attending their workshop to learn more about how to navigate this and other benefits.
Kevin addresses the issue of exceptions in retirement planning. He discuss a specific scenario where an individual is 62 years old with only 15 years of service, but wishes to retire. While the speaker acknowledges that the ideal solution would be to work five more years to reach the required 20 years of service, they also explain that there are alternative options available. One such option is called an MRA plus 10, which allows for retirement with less than the required years of service. He emphasizes the importance of understanding the consequences and benefits of each retirement option before making a decision, and encourages individuals to attend their workshops for comprehensive information and guidance.
Overall, he highlights that retirement planning is not a one-size-fits-all approach. He acknowledge that different individuals have different circumstances and goals, and therefore, there are various ways to retire. The workshops they offer aim to provide individuals with the necessary knowledge and understanding to make informed decisions about their retirement, considering all the available options.
Kevin discusses the topic of overtime and its impact on the high three calculation for pensions in the federal government. He explains that, in most cases, overtime does not count towards the high three, even if it is part of the job description or requirement. While there are exceptions to this rule, they are rare and specific to certain agencies and positions. The speaker mentions that this information is particularly relevant for individuals working at the VA.
He emphasizes the importance of asking questions about retirement and ensuring that individuals are making the right decisions for themselves. He encourage attending workshops to learn about the intricacies of pensions and to gain knowledge about which questions to ask. He concludes by inviting the audience to join their workshops for further information.
Kevin addresses a question about the SRS (Special Retirement Supplement) and clarifies its impact. The SRS is a part of the FERS (Federal Employees Retirement System) program and is received by eligible individuals. However, it only applies until the age of 62 and does not affect social security, pension, or any other aspect of retirement benefits. He emphasizes that it is a standalone program and dispels rumors suggesting that taking the SRS can have long-term implications. More detailed information is available in their workshop.
Overall, the SRS special retirement supplement does not have any significant impact beyond the age of 62. It is a separate benefit within the FERS program that does not affect other retirement benefits.
Kevin addresses a question about whether it is possible to take money from a retirement program (referred to as "furs") and use it to invest in physical gold for diversification. He clarifies that this is not possible and explains that retirement funds cannot be used for any other purpose except receiving a pension upon retirement. He emphasizes that understanding the basics of retirement benefits is crucial to avoid asking such questions. He also mention that the Thrift Savings Plan (TSP) is a separate matter where diversification and decision-making are allowed. In conclusion, he advises attending workshops to gain a comprehensive understanding of retirement benefits.
In this concise transcript summary, he dismisses the possibility of using retirement funds for investing in physical gold and emphasizes that retirement funds can only be received as a pension. he explain that the question arises due to a lack of understanding about retirement benefits and suggest attending workshops to gain a better understanding of the intricacies of retirement benefits.
Kevin emphasizes the importance of having a group of people to discuss retirement planning with, as it allows for the exchange of ideas and the opportunity to ask questions. He also warns about the spread of rumors, which can lead to misinformation and incorrect retirement decisions. He highlight an example where a rumor about retirement eligibility based on age and years of service was debunked, emphasizing the need to understand current rules and regulations. He encourages attending workshops to learn accurate information and make informed retirement decisions.
Overall, he recognizes the benefits of discussing retirement planning with peers but cautions against relying on rumors. They emphasize the importance of seeking accurate information and attending workshops to gain knowledge about retirement rules and make informed choices.
Kevin discusses the continuation of health benefits for family members after retirement. He explain that if a retiree's family members are already on their FEHP plan, such as a spouse or children, they will continue to have it as long as the retiree is alive. He emphasizes the benefits of this program, including the fact that the rates stay the same and the plan is flexible to suit the retiree's needs and those of their family.
He encourages listeners to attend their workshop, where they will discuss the different combinations of health benefits available and help retirees choose what is best for them and their family. Overall, the transcript provides valuable information for those navigating retirement and their healthcare options.
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Kevin discuss the earnings test penalty for continuing to work during retirement. The test may prevent individuals from receiving Social Security or special retirement supplement benefits if they make too much money. However, the earnings test only applies to earned income, not other types of income like investment, property, trust, or K1 income. To navigate this, the speaker advises seeking the help of a certified accountant or financial planner to ensure that individuals receive all the money they deserve.
He encourages individuals to attend their workshop to learn more about the earnings test and why it is important to seek professional help. The goal is to ensure that individuals receive all the benefits they are entitled to while avoiding any costly mistakes. Overall, he emphasizes the need to understand the earnings test and how it applies to different types of income to maximize retirement benefits.
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Kevin discuss the confusion surrounding federal retirement planning. He mention how people often confuse different retirement plans such as their pension and TSP, and even the different retirement ages for FERS employees and Social Security. He goes on to explain that while both retirement ages are based on when an individual was born, they have different schedules and payout structures. The speaker encourages listeners to attend their workshops to better understand retirement planning and avoid confusion.
The main takeaway from this transcript is the importance of understanding retirement planning and the potential for confusion. He emphasizes the need to differentiate between different retirement plans and ages to properly plan for retirement. They suggest attending their workshops to gain a better understanding and avoid making mistakes.
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Kevin answers a question regarding the Thrift Savings Plan (TSP). The question asks if someone who is about to retire, but hasn't yet, can do anything extra with their TSP. The answer is that if the person is 59 and a half or older, they can take some or all of their money and move it to an IRA without incurring any fees or taxes. They can still contribute to their TSP and get the 5 % match if they are a first employee. However, there may be fees when they use the money later on. He suggests attending their workshop for more details on what can be done and why one might want to do it.
Overall, the transcript provides useful information for those looking to manage their TSP before retiring. It highlights the flexibility offered by the plan and the opportunity to move money to an IRA without penalties. However, it also notes that the decision to do so depends on individual circumstances, and attending a workshop can provide more specific guidance.
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Kevin discuss the different investment options available to federal employees, including the TSP, GFC SNI funds, and $5,000 mutual funds. He explain that while there are fees associated with all of these options, the GFC SNI funds do not have transaction fees, whereas the $5,000 mutual funds do. Speaker 1 emphasizes the importance of being aware of fees and considering them when making investment decisions, but also notes that higher fees may be associated with better quality investments.
He encourages federal employees to attend their workshops to learn more about the different investment options and their implications. The workshop provides more information on fees and the implications of investment choices. Speaker 1 acknowledges that federal employees may have a resistance to fees but notes that it is important to consider the saying "we get what we pay for" when making investment decisions.
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Kevin discuss recounts an experience where a man took an early out, expecting certain benefits that were not included in the package. He went through the benefits with him, the man began to realize that the early out was not as good of a deal as he wanted. While some individuals may still choose to take an early out, it is important to understand the implications and impact of the decision before doing so.
During a workshop, a participant asked if they would receive the special retirement supplement (SRS) if they took the voluntary early retirement authority (VERA). The answer was no, and He emphasized the importance of understanding the implications of decisions before making them. The speaker ultimately concludes that individuals need to be aware of all the benefits they will receive and what they may be giving up before making a decision.
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Kevin discuss the question of whether or not to buy back military time. He state that the answer depends on various factors, such as whether or not the person retired from the military, their grade at retirement, and the type of military service they had. Speaker 1 emphasizes that it is an individual situation and that buying back time can sometimes be a great idea, while other times it makes no sense. He encourage people to attend their workshop and look at the numbers before making a decision.
He suggests that people should not rely on blanket statements or general advice when it comes to buying back military time. Instead, they should evaluate their own situation and make an informed decision based on the specific details. The workshop provides an opportunity to do this and to ensure that the decision is the right one for each individual.
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Kevin discuss whether or not it is advisable to buy back time from the military. He explain that the decision depends on various factors such as retirement status, military service type, and length of service. While sometimes buying time back can be beneficial, there are other times when it is not a wise decision. He emphasizes that it is an individual case-by-case situation that requires a careful analysis of the numbers and personal circumstances.
He also encourages attending their workshop to gain a better understanding of the situation and make the right decision. Ultimately, the decision to buy back time from the military is up to the individual, and they should carefully consider their circumstances before making a decision.
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Kevin addresses the confusion surrounding adding a spouse to health insurance and electing a survivor benefit in retirement. He clarify that getting married in retirement is a qualifying life event that allows you to add your spouse to your health insurance, but to keep the survivor benefit, you need to elect it and start paying for it. If you don't elect the survivor benefit and only add your spouse to health insurance, they will be kicked off if you die. He admits that the survivor benefit program is confusing, but encourages attending workshops to learn more about it.
Overall, he explains that adding a spouse to health insurance and electing a survivor benefit in retirement are two separate processes. Getting married in retirement allows you to add your spouse to health insurance, but to keep the survivor benefit, you must elect it and start paying for it, even paying back missed premiums. It is recommended to attend workshops to better understand the complexity of the survivor benefit program.
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Kevin discuss the possibility of taking traditional money from a TSP and doing a Roth conversion with an IRA for individuals over the age of 65. He explains that while the TSP does not allow for this type of conversion, it is allowed in a traditional IRA and can be a way to save on taxes. However, taxes must be paid when the money is moved over to the Roth, as it is taxed up front. The goal is to keep the amount of money rolled over under the tax bracket threshold to avoid paying a significant amount of taxes.
He emphasizes that this type of conversion may not be the right move for everyone and recommends attending a workshop to learn more about the ins and outs of the process. He notes that it is a little complicated and requires careful consideration before making a decision. Overall, while the TSP does not allow for this type of conversion, it is possible to do so in a traditional IRA and can be a way to grow money tax-free over time.
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Kevin answers a question about whether a federal employee can work a civilian job after retiring. The answer is yes, but whether they should depends on various factors, such as whether they are receiving a special retirement supplement and how much they will earn from the civilian job. He emphasizes the importance of discussing different scenarios and understanding the potential outcomes before making a decision.
He encourages individuals to attend their workshop to get specific questions answered and to gain a better understanding of the different avenues available to them. Ultimately, the decision to work a civilian job after retiring from the federal government is a personal one that should be carefully considered based on individual circumstances.
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Kevin discuss the situation where a federal employee asks if she can add her spouse back to her health insurance plan after he quit his job and lost his coverage. Unfortunately, since losing a job is not a qualifying life event (QLE), the answer is no. However, there are some QLEs that do allow for adding or removing someone from a health insurance plan in the middle of the year, such as marriage, birth, divorce, or death.
He emphasizes the importance of making plans for retirement and considering potential scenarios that may occur. By doing so, retirees can avoid unexpected situations and have contingency plans in place. Attending workshops can provide valuable information and help individuals learn about retirement plans and how to prepare for them.
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Kevin discuss about how retirement rules change over time and how people can get confused by them. He use sick leave as an example, explaining that while the formula for earning sick leave is well-known (4 hours per pay period), figuring out how much money it translates to when one retires can be complicated. To determine this, one needs to consult the 2087 chart, which shows how many months and days of sick leave a certain number of hours translates to. He recommends attending their workshops where they will do the calculations for attendees.
Overall, this video emphasizes the importance of understanding the changing rules around retirement benefits, particularly when it comes to sick leave. Speaker 1 encourages people to seek out help and attend workshops to ensure they have a clear understanding of how to calculate their retirement benefits.
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Kevin discuss the common misconception about Lifecycle funds in retirement planning. He explain that despite the belief that these funds are only for younger people, they are actually designed for those who are about to retire. He emphasize the importance of questioning commonly held beliefs and myths about retirement planning to ensure individuals make informed decisions about their investments.
He also encourage individuals to attend their retirement planning workshop to learn how to "myth bust" and become more informed about retirement planning. Overall, the conversation highlights the importance of questioning assumptions and seeking out accurate information when making decisions about retirement investments.
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Kevin answering a question about whether to use or store annual leave and sick leave. They explain that the decision depends on individual goals. Storing sick leave can increase the amount of pension received, while using sick leave and storing annual leave can provide monetary value. He emphasizes that there is no one-size-fits-all answer and encourages attendees to attend workshops to learn more.
Overall, he advises that the decision on whether to use or store leave depends on personal goals. They encourage attendees to attend workshops to learn more about their options.
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This is an extended discussion about the issue I brought up a couple of days ago - Not getting a pension check for quite some time and how to avoid delays.
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Created by:
Kevin Jones of http://FedPilot.com
and Cassie Knight of http://FedOptions.co
Fednobabble - Making Federal Benefits Understandable for Humans
(in under 20 minutes)
This episode covers the black hole of federal retirement: There is no feedback loop. If you mess up your retirement, no one learn to avoid repeated mistakes.
To get a comprehensive report on your federal retirement benefits:
http://fednobabble.com
No cost, no obligation, no sales pitch. No kidding.
Want us to ask a question for us to answer? http://fednobabble.com again.
Created by:
Kevin Jones of http://FedPilot.com
and Cassie Knight of http://FedOptions.co
Fednobabble - Making Federal Benefits Understandable for Humans
(in under 20 minutes)
This episode covers the side of COLAs that the government doesn't talk about.
To get a comprehensive report on your federal retirement benefits:
http://fednobabble.com
No cost, no obligation, no sales pitch. No kidding.
Want us to ask a question for us to answer? http://fednobabble.com again.
Created by:
Kevin Jones of http://FedPilot.com
and Cassie Knight of http://FedOptions.co
Fednobabble - Making Federal Benefits Understandable for Humans
(in under 20 minutes)
This episode covers how lacking HR retirement reports are and how to get one that you can actually use to plan for your whole retirement.
To get a comprehensive report on your federal retirement benefits:
http://fednobabble.com
No cost, no obligation, no sales pitch. No kidding.
Want us to ask a question for us to answer? http://fednobabble.com again.
Created by:
Kevin Jones of http://FedPilot.com
and Cassie Knight of http://FedOptions.co
Fednobabble - Making Federal Benefits Understandable for Humans
(in under 20 minutes)
This episode explains why some years of service count, others don't, and how to tell the difference. And where to get your OFFICIAL years of service.
To get a comprehensive report on your federal retirement benefits:
http://fednobabble.com
No cost, no obligation, no sales pitch. No kidding.
Want us to ask a question for us to answer? http://fednobabble.com again.
Created by:
Kevin Jones of http://FedPilot.com
and Cassie Knight of http://FedOptions.co
Fednobabble - Making Federal Benefits Understandable for Humans
(in under 20 minutes)
This episode covers the little known, but major, issue of addresses in TSP. Not only how to change them, but why.
To get a comprehensive report on your federal retirement benefits:
http://fednobabble.com
No cost, no obligation, no sales pitch. No kidding.
Want us to ask a question for us to answer? http://fednobabble.com again.
Created by:
Kevin Jones of http://FedPilot.com
and Cassie Knight of http://FedOptions.co
Fednobabble - Making Federal Benefits Understandable for Humans
(in under 20 minutes)
This episode covers how difficult it is to fill out a retirement application by yourself.
To get a comprehensive report on your federal retirement benefits:
http://fednobabble.com
No cost, no obligation, no sales pitch. No kidding.
Want us to ask a question for us to answer? http://fednobabble.com again.
Created by:
Kevin Jones of http://FedPilot.com
and Cassie Knight of http://FedOptions.co
Fednobabble - Making Federal Benefits Understandable for Humans
(in under 20 minutes)
This episode covers:
- Health Insurance for living spouse
- Health insurance for kids up to age 26
- Taking time off for health issues.
To get a comprehensive report on your federal retirement benefits:
http://fednobabble.com
No cost, no obligation, no sales pitch. No kidding.
Want us to ask a question for us to answer? http://fednobabble.com again.
Created by:
Kevin Jones of http://FedPilot.com
and Cassie Knight of http://FedOptions.co
Fednobabble - Making Federal Benefits Understandable for Humans
(in under 20 minutes)
This episode covers What is in the new TSP and what is not.
To get a comprehensive report on your federal retirement benefits:
http://fednobabble.com
No cost, no obligation, no sales pitch. No kidding.
Want us to ask a question for us to answer? http://fednobabble.com again.
Created by:
Kevin Jones of http://FedPilot.com
and Cassie Knight of http://FedOptions.co
Fednobabble - Making Federal Benefits Understandable for Humans
(in under 20 minutes)
This episode covers:
- Medicare
- How NOT to leave money on the table when you retire
To get a comprehensive report on your federal retirement benefits:
http://fednobabble.com
No cost, no obligation, no sales pitch. No kidding.
Want us to ask a question for us to answer? http://fednobabble.com again.
Created by:
Kevin Jones of http://FedPilot.com
and Cassie Knight of http://FedOptions.co
This episode covers:
- SSA Statements
- What do you do if you have errors?
To get a comprehensive report on your federal retirement benefits:
http://fednobabble.com
No cost, no obligation, no sales pitch. No kidding.
Want us to ask a question for us to answer? http://fednobabble.com again.
Created by:
Kevin Jones of http://FedPilot.com
and Cassie Knight of http://FedOptions.co
Fednobabble - Making Federal Benefits Understandable for Humans
(in under 20 minutes)
This episode covers:
- TSP Loans
- Role of HR
To get a comprehensive report on your federal retirement benefits:
http://fednobabble.com
No cost, no obligation, no sales pitch. No kidding.
Want us to ask a question for us to answer? http://fednobabble.com again.
Created by:
Kevin Jones of http://FedPilot.com
and Cassie Knight of http://FedOptions.co
Fednobabble - Making Federal Benefits Understandable for Humans (in under 20 minutes)This episode covers TSP changes in 2022To get a comprehensive report on your federal retirement benefits:http://fednobabble.comNo cost, no obligation, no sales pitch. No kidding.Want us to ask a question for us to answer? http://fednobabble.com again.Created by:Kevin Jones of http://FedPilot.com
Don't want to get the vaccine but want to retire? Are you being told things about this process that may not be true? Ya, most likely.
This episode covers: - When to turn in paperwork - Defer or postpone? - What to take in what order
This episode covers: - Do you have enough money? - Tax Planning - Equal distribution among TSP funds
This episode covers: - Getting your check - Avoiding the Earnings Test - Double taxed on loans
This episode covers: - WORKING TO 62 - TRICARE OR FEHB - Would you rather Roth or Traditional?
This episode covers: - Retiring with chronic health issues - Does pension cover FEHB? - Paying off home mortgages
This episode covers: - Deferred retirements - Bonuses for married federal couples - How TSP match works
This episode covers: - Pension, annuity - what’s the difference? - FRAs & MRAs - the difference - TSP lump sums and the annuity
This episode covers: - When you can retire - Which states tax your pension - TSP Roth or private Roth?
This episode covers: - HR2478 & buying time back - States the tax your pension - Equal distribution between TSP funds
This episode covers: - Lump sum after OPM processes? - Max SS & Rehiring - How can you switch to Roth?
This episode covers: - Vacation days paid out earned income? - Locked into the next FEGLI increase - 59.5 to pull out money without a penalty
This episode covers: - COLAs at 62 - Buy back time for temporary service - ROTH conversion planning
This episode covers: - What is an SF-50? - Buy back time for temporary service - ROTH conversion planning
This episode covers: - Burning sick leave hourly - "Gap Payment" at 62? - Army Reserve pensions & all this
This episode covers: - Sick Leave Conversion - Survivor Benefits & TSP - Tricare, Medicare, and issues
This episode covers: - Part-time formulas - Social Security 8% increase - What the TSP 5% is
This episode covers: - Divorce and benefits - Birthday or end of month? - I can retire when?!
This episode covers: - What if my spouse dies first? - What happens at 21? - Annuities and RMDs?
This episode covers: - Adding parents to FLC - Are QLEs the only time to change? - What's in my TSP?
This episode covers: - Full Retirement Age - Social Security - Leave without pay - Postal workers insurance
This episode covers: - How HR's Report is different - Delaying FEHB - Double Dipping Roths
This episode covers: - Pension & Supplemental payments - Rebates from FEHB - Timelines for signing up for Medicare Part B
- 5 years in FEHB - Is your SCD your SCD? - Watercooler talk that can get you into trouble
Fednobabble - Making Federal Benefits Understandable for Humans(in under 20 minutes)- High 3- +Interim pension checks- Loans from the TSPTo get a comprehensive report on your federal retirement benefits:http://fednobabble.comNo cost, no obligation, no...