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If I collect my social security $24,000.00 per year at 62, and I also collect $50,000.00 per year for my FERS pension at 62. Will my SS $24,000.00 be reduced? Thanks.
Thank you! Your videos are always very informative.
I have 21 years of service with my present employer but I was a Non Appropriated Fund employee for 6 years before I become a federal employee. My question is will my FERS pension be affected since I only have 15 years of service as a federal employee cos I have a split service?
Very helpful. I was confused about SS being reduced based on your FERS pension!!!!!
My husband and I live in Texas and he is a Federal Government employee, also he has had a military retirement since 2005. Will we get the Federal Government retirement, military retirement and social security when we retire. We will be moving to Indiana when we retire. Also, can I collect half his retirement. We want to know where we would stand when we retire.
Dear Haws _my guy+=
what do i do not fedral employee.
Tid Lif
You made an example for government pension offset for spousal benefits. Windfall elimination for employees
You answered my question retired age 62 getting the FERS Pension and Social Security. Thought I would have to deduct 22% in wages for my Social Security and have my FERS pension reduced by 1/3. Still will go with 7% in wages for social security to see how every thing plays out at the end of the year.
This information is so helpful. I'm going to retire in the next 2 years and I've heard to have at least 600000.00 in my tsp account to live comfortably for the rest of my life. I've got longevity in my Gene's. 100 yrs old is a good possibility.
Thank you for the information. I just had a quick question regarding TSP withdrawal taxes. If I were to wait until 70 1/2 years to take the TSP distribution, are the taxes that you pay on that income less percentage or is it still taxed at the 20% income tax level?
Does FERS medical retirement get offset from SSDI?
Can you explain how Fers and the Social security do the mathematics for the monthly payments.I got social security and fers for disability retirement,but I'm also a 100% P&T disabled Veteran
Does my tax defer health care …. pretax dollars…. reduce my high 3 salary calculation. should I pay my health insurance post tax to maximize my high 3 salary calculation. I notice my gross is reduced by the amount I have going into tax deferred heath care insurance payments.
I'm retiring 12/31/21, will I still get the 2022 COLA increase for 2022 for SS and FERS?
I researched a lot and knew almost exactly what my pension, supplement and ss were going to be before I retired. It turned out pretty much right on the money! I took the supplement for 6 years and then put in for my ss a few months before my 62nd birthday. The transition went very smoothly. My perceived ss calculated amount was spot on and my earned wages for the whole 6 years was zero $. So do your research and use the calculators that are available to you!
I love these series so helpful
Does it make more sense for a dual federal employee household to only leave each other partial survivorship? Or for Max money full survivorship benefits? Also are annuities worth it? it seems redundant to me with our pension plan.
Also remember that the FERS Supplement is only reduced if you are at your MRA. Example, if you are a 6c (special category) employee and retire before your MRA (many 1811's do just that and retire at say 50) you can collect the full Supplement as well as make as much salary post retirement as you like with no loss/reduction of the Supplement until you hit your MRA…
Why choose either life insurance or the survivors annuity if you have say a million in your TSP.
Great video
The economic hardship, recession, unemployment, and loss of jobs is enough to push people into financial ventures.
Brief but excellent Q&A. Dallen answered 2 of my important questions I've been wondering about.
So, question on the health insurance. If they go under the wife's plan, do they need to be there for 5 years so they can both continue the insurance in retirement since he will no longer be under his insurance, which he was presumably under for the last 5 years?
What about your tsp or roth tsp reach 1 million dollar, does social security reduce?
Thank s
FERS Supplement- I took a VERA with USPS @ 52 yrs old with 26 yrs of service. The offer stated that I will get FERS Supplement when I reached my MRA (56 yrs old & 10 months). My case just finalized from OPM and they did not list my FERS Supplement. Should I call OPM and have them stated in my booklet that I will get FERS Supplement OR my FERS Supplement will automatically roll in at my MRA? Please advise
Make sure you suspend and not cancel your FEHB