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Key Things That Immediately Follow Your Retirement

Federal employees when considering their retirement should also keep in mind what the change is going to be like for them. This can help them decide when to set the date of retirement. Planning regarding retirement should commence from five years out from a federal employee’s expected retirement. They should first ask for their retirement estimate, something that gives an idea to the employee about the amount of income he/she will be getting after retirement. A fed employee should then begin with all the paperwork within first year of his/her retirement.

The best thing for federal employees is to hire federal retirement planning consultants. These people are experts in planning retirement, especially for federal employees. Since the field of retirement can be a complex realm for an employee, it is best to let the experts handle it so that you can enjoy the maximum benefits in your retirement. Still below are some retirement checklist that you will benefit from knowing about.

1. Do not be surprised if you are in the ‘interim’ retired status for a year or even more than that. For some lucky ones, this period might last for about 2 or 3 months, but the unlucky ones will have to be in it for more than a year.

2. You may need to pay the bills in the initial stage through lump sum yearly-leave check as ‘interim’ checks won’t be the entire amount of your annuity.

3. Policies such as FEGLI and FEHB will come into effect automatically. And as far as premiums are concerned, OPM will deduct it from your full annuity once it is finalized.
 
There are many other things that you need to know, which federal retirement planning consultants can help you with. Get in touch with them right away to secure your retirement.

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