Video from Facebook live stream from the Facebook group, “Taxes in Retirement,” from February 2017, 2021. Special guest Casey Madsen discusses the basics of what federal employees need to know about their retirements such as:
👉 CSRS and FERS pensions
👉 How Social Security impacts federal benefits
👉 Retiree medical, life and long-term care insurance options
👉 The Thrift Savings Plan, or TSP
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DISCLAIMER: This video is only helpful hints and education. It is not specific tax, legal or investment advice. Before considering acting on anything you see in this video, first consult with your tax, legal or investment advisor. While the information expressed in this video is believed to be accurate, neither Andy Panko, CFP®, RICP®, EA, Casey Madsen nor Tenon Financial LLC make any guarantees to its accuracy….(read more)
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Are you a federal employee preparing for retirement? Do you have questions about the retirement process and benefits available to you? If so, mark your calendars for February 17, 2021, as the U.S. Office of Personnel Management (OPM) is hosting a Facebook Live event dedicated to retiring as a federal employee.
During the event, OPM experts will discuss important topics related to federal employee retirement, including eligibility requirements, the application process, and the different retirement options available. Whether you’re nearing retirement age or just starting your federal career, this event will provide valuable information to help you plan for your future.
Retiring from federal service can be a complex process, and it’s important to have a solid understanding of your options and benefits. This Facebook Live event will offer insight into the Federal Employees Retirement System (FERS) and the Civil Service Retirement System (CSRS), as well as information on survivor benefits, healthcare coverage, and the Thrift Savings Plan (TSP).
In addition to the retirement benefits discussion, OPM will also cover important topics such as the impact of the coronavirus pandemic on federal employee retirement planning. As the pandemic continues to affect the economy and the workforce, federal employees may have concerns about how their plans for retirement could be impacted. This event will address these concerns and provide guidance for navigating retirement during these uncertain times.
If you’re unable to tune in to the event live, don’t worry – the video will be archived on OPM’s Facebook page for future viewing. This allows federal employees who are unable to attend the live event to access the information at a later time.
Retiring as a federal employee is a major milestone, and it’s crucial to be well-informed about the process and your entitlements. By participating in OPM’s Facebook Live event on February 17, 2021, you can gain the knowledge and confidence necessary to make informed decisions about your retirement.
To stay updated on event details and receive reminders about the Facebook Live event, follow OPM on Facebook and mark your calendars for February 17. Don’t miss this valuable opportunity to learn from experts and get your retirement questions answered. Whether you’re ready to retire soon or just beginning your federal career, this event is a must-attend for all federal employees considering retirement.
Excellent information. I am a longtime Federal employee and would like to know that if you retire on 12/31 and have as an example 530hrs unused annual leave will you get a check for the full 530 hrs of unused annual leave or just a check for the 440hrs allotted? Does the use it or lose it rule count when retiring?
Thank you.
1/19/23
Sick leave only adds annuity increase it does not count towards credible service
Is it better to retire on December 31 or into January after we would get our cost-of-living increase?
TSP Excellent OVERVIEW
Great Video, Thanks I'm a Federal Employee with 18 years I have 16 months to retirement witch I'll have 20 years at 62yrs old. My Queston is can you put money or Mutual Funds in the TSP from another investment?
I’m about to become a federal employee. Thank you
Does part time of 20-30 hrs per week count as a full year of service?
I think you are incorrect. If you work for the Federal Government for 30 years you can start your Pension at any age. You can start working for the Federal Government at age 18. So it is possible to retire with a Federal Pension before age 50.
How dies AWOL,,affect your retirement date
Can I retire at 50 years old with 20 years of service?
Good presentation. Few points to emphasize. Credit for sick leave can add to time of service but cannot help you qualify for retirement. For example, if you work 30 years and have a year of sick leave, you get credit for 31 years. But you cannot work 29 years and add the sick leave to meet the 30 year requirement to retire. Also, Roth TSP also has RMDs. You would have to roll over Roth TSP to a Roth IRA to avoid the RMDs.
I’m 70 with 14 years of federal civilian service, can I still get a pension with 14 years or do I have to work the full 20 if I want to retire by than.
Very helpful information! Thanks for putting this together for us civilian FEDS!
G fund? 1-2% wouldn't you be losing out to inflation?
Anyone watching who is active in their TSP and didn’t make it to the end of this video. I highly suggest you listen to 1:24:40 through 1:25:40.