Your FERS Pension/The FERS Supplement
-Check out this article to see when/if you can retire and get a pension.
-To calculate your pension and check out this article.
-You can find an in depth guide to the FERS supplement here.
Social Security
-To help decide when you should start Social Security as a federal employee, check out this article.
The TSP (Thrift Savings Plan)
-Here is an in depth guide on how to get the most out of your TSP.
FEHB (Federal Employee Health Benefits, i.e. Health Insurance)
-You can learn more about keeping FEHB into retirement here.
FEGLI (Federal Employee Group Life Insurance)
There are 4 different parts to FEGLI and they are: Basic, A, B, and C.
-All 4 parts are a little different and you can learn what parts are best for you here.
FEDVIP (Federal Employee Dental and Vision Insurance Program)
-You can find more details on keeping FEDVIP into retirement here.
FLTCIP (The Federal Long Term Care Insurance Program)
-You can learn more about whether you should enroll in FLTCIP here.
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Where can I find the FLTC? Can I apply during open season? Or i can apply anytime?
As I get closer to retirement(34-years-plus of service, less than 3 months from age 60), a lot of questions arise about when I should retire.
I didn't get married until 9 years after I began my federal career right out of graduate school…so only one of my two children has graduated from high school and college. The younger one would finish 4 years of a college journey a few months after I turn 64.
My day-to-day health is good, but I am dogged by a couple of health issues that might hit me again at any time, though it has been almost 18 years since the most recent episode. I don't expect either of them to keep me from working until after my younger child has graduated from college, but who knows?
Should I continue my career past age 62? I have actually seen something recently that leads me to believe that my Medicare monthly premiums will become more expensive if I delay retirement past my 65th birthday. Is this true?
If so, would my unused sick leave push me past my goal of 40 years federal service credit?
How long can we expect the current crash of TSP's C Fund to last?
There is so much unknown about the next 5-years-plus, so I want to "chip away" at the mountain of unknowns as much as I can.
Any ideas on any of these issues? Thank you VERY much! Your videos have helped so much already. At least now I have a place to fire off these questions to.
As I get closer to retirement(34-years-plus of service, less than 3 months from age 60), a lot of questions arise about when I should retire.
I didn't get married until 9 years after I began my federal career right out of graduate school…so only one of my two children has graduated from high school and college. The younger one would finish 4 years of a college journey a few months after I turn 64.
My day-to-day health is good, but I am dogged by a couple of health issues that might hit me again at any time, though it has been almost 18 years since the most recent episode. I don't expect either of them to keep me from working until after my younger child has graduated from college, but who knows?
Should I continue my career past age 62? I have actually seen something recently that leads me to believe that my Medicare monthly premiums will become more expensive if I delay retirement past my 65th birthday. Is this true?
If so, would my unused sick leave push me past my goal of 40 years federal service credit?
How long can we expect the current crash of TSP's C Fund to last?
There is so much unknown about the next 5-years-plus, so I want to "chip away" at the mountain of unknowns as much as I can.
Any ideas on any of these issues? Thank you VERY much! Your videos have helped so much already. At least now I have a place to fire off these questions to.
FERS is pretty weak for a government pension.
Which FEHB gives money back when you have medicare?
What happens if I try to hold up til age 70 on SS and I pass before then? Will my spouse be able to apply for my SS? What are the options?
It would have been helpful to let us know what's the average pension for federal employees. Give us figures
Are you going to cover the current delays in payments
Long term care insurance is generally considered a borderline fraudulent product. Very very few people get the promised amount of benefit and never the amount they put in premiums.
Can I defer federal retirement benefits until ~65? Assuming I leave federal service around age 40.
DoD ‘great retirement’ …. LOL … One of my peers will retire as a fire fighter with 100% retirement … yes. 100%
due to the legalized law changes of this nation either a federal rep from the union or some member from the federal financial division of this government would be who I would discuss my pension with congress and the members of the house changes laws daily it seems!!! reach out to your old employer for info
We have no kids and Wife is chonically ill. I have FLTCIP because her illnesses are going to cost us and I won't have anyone to take care my elderly self.
But all these benefits to the right are priced high and are deducted from your small pension. Only 20% of salary after 20 yrs. I know its better than nothing, but 20% isn't really much, especially after you deduct the high cost of these benefits. So it isn't that great of a retirement benefit.
Do I have to stay in federal service for 5 years before I can draw from it? New to Dhs.
NOPE!
34 years of federal service at 52 and still have to wait until 56-57 to retire to get full benefits! Also not being told is it’s only 1.1 percent unless special provisions which is 1.7 percent!
The Thrift Savings plan only offers a limited amount of funds. Like a handfull. I have way more of a selection in my Fidelity 401K than i do my Thrift Savings Plan. With my Fidelity 401K i can buy a stock, fund, etc. With my TSP i am limited to funds only. The number of funds is about 10-12.
I always felt like I d good benefits as a federal employee, as did my sister who was a middle school teacher in Florida. Our pay was pretty similar, too. But then I decided to retire with 33 years of government service, just short of turning 58. That’s when I discovered how lucky I was. The FERS supplement sure helps. But also MY health insurance benefit continues, whereas the state teachers I know are all waiting until at or close to age 65 to get affordable medical insurance. My future finances would be fatter if I had waited to age 62 to retire. But it’s a great blessing to have the option of retiring sooner than that, and certainly before age 65!
Over 65 years old Fed retirees who have FEHB but what Medicare options will helpful for them to save the medical bills? Thank you!
Thank you for your information. Helps my understanding!
Turned 65 what tsp funds would you recommend. Thanks
Dallen, I think you are missing some of the links. Great video! Thanks!
Awesome Dallen ! this June makes 30 years with DOD. Turning 58 in April and plan on retiring 31 December 2026 the year I turn 62 so I max out my Annual Leave at 448 hours (240 + 208) which will be a nice one time check of about $21k after taxes.
I’ve put into TSP for all of my 30 years, after the first few years at 1% min I’ve been at least 5% min for 100% match. And several years between 5 and 12%.
Would’ve loved to have put at least 10-15% or higher for all 30 years!. If I did, My TSP would be much closer to $1M or higher today !
Postponed retirement allows FEHB access as well in addition to those with immediate fers. Deferred retirement does not.
Just called benfed about my son's vision and dental coverage after he turns 21 and being disable, he will still be cover on my plan. So yes our benefits are good. being retired military I have tricare and will do Tricare for life when turning 65. For life ins , I got cancer 2 months before retired, and my private life ins ends this month and they will not underwrite me throuh New York life.My payment is around $220 a month for $104K and my option b is $197.00 per month that will increase every 5 years which i will reduce a muiltiple when it starts getting supper high. The WEPA ins you talked about before for fed members they told me sorry also. happy with my retirement benefits.
Hi Dallen, is it beneficial to move monies out of the TSP and roll out of the government. Too many limitations. Retiring next year.
You are 100% right. Do your due diligence on it. We went over it at least three months in advance & spoke to at least three different ppl who retired or are retiring. They no longer have any seminars on retirement. We had a zoom call & exiting interview.
Thanks again Dallen! Well organized and informative as always!