Oregon Public Retirement Planning: Recent Episodes
Daniel Ryan
From pension planning under PERS FPDR to health care planning under PERS Health Insurance we are going to be teaching the ins and outs of financial planning unique to Oregon's heroes. Our goal is to educate you on the many benefits available and unique to a public servant in Oregon so that you can take action today to better your financial picture. We will be diving deep into topics like your pension options, coordinating out of state pensions, Social Security, Medicare, Union Contract retirement benefits, 403b & 457b investment planning, tax planning strategies and much more.
So many clients will get referred a Medicare advantage plans, but don't know if the coverage in that plan actually takes care of their needs. Both supplement and advantage plans are great, for the right people and we need to make sure that the coverage that you have is appropriate for your exact situation.
If you choose original Medicare part A and part B you may have costs like deductibles, coinsurance and copays that can eat away your financials. Paying for a supplement policy can help cover these additional costs that Medicare has not taken care of when you need care.
Do you have employer health coverage passed 65? Maybe your spouse has union coverage until you join Medicare? Will Part A only make sense, or destroy your HSA investment strategy?
Oregon Public servants have a huge potential cost to them in retirement: health insurance. Choosing the wrong Medicare plans can cost you thousands and leave you in a world of hurt with irreversible decisions that impact the rest of your retirement. We break down how much to expect for your care and who you should or shouldn't listen to for advice on your plan.
What happens if I work at a State University? There are four Tiers, the rules are completely different and you can move your Orgon PERS pension to the ORP! Many public servants don't even know this exists, nor have the desire to become an expert on it in the six months after starting their new job at the university. We are here to help!
As we continue our mini series on the auxiliary pension plans within Oregon PERS our Judges have very unique benefit options and strategies. We discuss how to quality for the Plan B Judge pension, the different calculations for Judges, and claiming strategies for spouse's.
There are so many different components when it comes to the police and fire pension within PERS that in this episode we take care of answering the question when am I eligible to retire how much can I expect from my retirement and how do I best purchase units.
While a lot of public servants in Oregon are under the Oregon PERS pension system there are several police and fire that are subject to a different pension: FPDR 2. Here we take a high level of what you need to know to prepare for your retirement accordingly.
The windfall elimination provision and government pension offset can be surprising penalties on social security checks for public servants. Find out if you are one of those who is affected by this and how to mitigate the penalties.
We find most folks look at one aspect of their Social Security. But the coordinating of benefits they might not even know exist are critical. We discuss the spousal benefits, survival benefit and divorced spouse benefits.
You can claim Social Security retirement benefits anywhere from age 62 to 70. However the amount you get, when you get it, and who gets it if you pass away are all effected by that once choice. It changes your investment strategy, your security of beating inflation and so much more.
A common headline is that Social Security is going to be bankrupt by the time you retire, but is that true? We discuss why this headline is misleading and more importantly how you should prepare and understand your benefits with Social Security.
I see it all the time. Missing service credit for PERS covered employment, members wondering whether to take sick time versus unpaid leave of absence, USERRA credit with PERS and more. We walk through it all.
Whether you are living in Oregon, out of Oregon, qualify for the tax remedy, paid for pension purchases with after tax dollars or pre-tax dollars your taxation on PERS changes at the Oregon and Federal level.
Tier 1 & Tier 2 members might have selected a variable account and Variable Annuity Program in PERS which can cause your pension to change what it pays drastically. Find out if you have this and don't even know it, the impact it has on your Full Formula and Money Match calculation and evaluate if you qualify to get out via a one time variable account transfer.
The Individual Account Program (IAP) is a major part of your planning and SB 1049 has changed the account in major ways. Learn how to take advantage of this account and the pitfalls members make.
Senate Bill 1049 has certainly changed the game for retirees and working in retirement for PERS members. What is Double Dipping, Working the Bubble, and the 1040 rule? Learn how to turbo charge your retirement in this strategy.
There are several advantages to PERS members to purchase service from the Oregon pension. Purchasing your out of state service, seasonal service, wait time, military time and more could make a world of difference in your pension! We walk through the 17 different purchases available to Tier 1 and Tier 2 members.
With 26 claiming options within the Oregon pension it can be difficult to know and plan for the rest of your retirement. Here we talk about the options within the pension and certain strategies surrounding the reasoning that someone might claim one option versus the other.
For most Oregon Public Servants, your pension will be calculated using your Final Average Salary. Depending on your pension classification, service type, and purchases, that number can be calculated differently for everyone. Find out the impacts to your lifetime pension of sick time, vacation time, and more!
Are you on a Formula + Annuity calculation, Money Match or Full Formula Calculation? Does that mean your pension will last for the rest of your life or once the account balance hits ZERO? We will discuss how you can calculate pension and find how how your pension works.
Here we focus on Oregon PERS member classifications. Are you in Tier 1, Tier 2 or OPSRP? Do you have an IAP? Can you be in multiple pensions, or buy back into Tier 1 because of temporary work, forfeited time, or previously cashing out your pension?