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How To Get The Most Out Of Retirement Benefits

If you are a federal employee and planning your transition from employee to the annuitant, here are some of the various benefits of federal retirement that you can consider. These benefits can highlight essential features of recent updates that may help you increase each benefit. 

 
You can also find a federal retirement agency to help you get more benefits.


1. FERS 

FERS might be attractive to those employees who want to leave federal service early or those who came into service later in their life. The MRA option requires you to have a minimum age of 55-57, based on your birth year, and should also have at least 10 years of service. You can also get in touch with the best federal employee retirement consultants for pre-retirement counseling.

2. Life insurance

The life insurance program is a group term life insurance and it does not build up cash value. FEGLI (Federal Employees Group Life Insurance Program) consists of two types of life insurance—basic and optional. Basic insurance pays out an annual basic pay rate on death. The optional choices consist of three more options— $10,000, 1-5 multiples of your annual basic pay rate, and multiples to the insured individual on the death of a partner or eligible child.

3. Long term care insurance

It includes a premium feature that helps reduce the need for future premium raises. In this feature, a specific amount is calculated as a percentage of premiums that are paid under the group policy. The PSF amount may also be used for your future premium payments.

The best course of action is to get in touch with the best federal employee retirement consultants to get proper counseling and to enjoy more benefits.

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