Federal Retirement Planning

The Thrift Savings Plan (TSP) is a crucial part of your retirement. Managing your TSP might look like a simple task as there are only a handful of funds in it. However, this might not always be the case, especially if you add other plans to the mix. These few tips below can help you manage your TSP, ensuring things stay right and the processes go smoothly. Also, be sure to choose a FERS retirement pension calculator to assist you in maximizing your return.   Here are some tips for managing your TSP: Always scrutinize your contributions Make sure you always keep track of your contributions each year. TSP allows users to contribute up to $19,500 annually, or up to $26,000 for those over 50 and older. It is not mandatory to contribute the maximum to make a big difference in your retirement planning. Be sure to choose a FERS retirement pension calculator to help you with contributions and how to monitor them. Be cautious with Target Date Funds. The Target Date Funds is a balanced ...

Individuals employed in federal services get a lot of benefits. Starting from job security to the Thrift Savings Plans (TSP), they have some of the best options available. Now, while all of these plans come with their pros and cons, you need to know which one suits your needs. But, how do you do that? Well, you first need to   find the TSP retirement calculator  and use it accordingly.   Here are some of the reasons why you should use the TSP retirement calculator: 1. Provides accurate information One of the first reasons you should use the retirement calculator is because it provides you with accurate information. By calculating the income and the contribution you make to various plans, you will be able to improve your knowledge about the process. In case you do not know how to do it, you should seek professional help for the same. 2. Helps you choose from various plans   Next, you should use a TSP retirement calculator because it enables you to select from differen...

When you hang up your boots, you will stop following the commands of seniors in the military unit. Although finding an adjustment to civil life after retirement is traumatic, you can reduce the stress related to financial woe. Planning for a stable financial status is crucial if you want to live a peaceful civilian life after retirement. Here are some helpful tips to save money when you have time. Thrift Savings Plan The federal government has a program called the thrift savings plan (TSP) under the Federal Employees Retirement System (FERS) for employees of the Department of Defense. This scheme allows military personnel to invest in a tax-advantaged account for retirement. The plan is categorized as per the age and service experience of the eligible individual. If your pay is high, you will contribute a higher share of your income to the TSP. You should use the thrift savings plan retirement calculator to avoid any confusion when applying for the plan. Start saving early Once you ha...

As a federal employee, there are a lot of things you need to do before you get the retirement benefits. It doesn’t matter whether you come under the Federal Employees Retirement System or Civil Service Retirement System, you will need to properly take care of all the paperwork pertaining to retirement. This is why it is recommended to all the federal employees that in order to check federal retirement benefits in detail, they should take assistance from retirement experts online. In this blog, we have shared a few important things that you need to take into account. Let’s take a look at them. You should opt for 75 reduction and FEGLI, which stands for Federal Employee Group Life Insurance in the column of life insurance. You should know that till the age of 65, you will have to pay premiums. And also know that death benefits come down to 25 percent when you reach the age of 65. Once you come to this stage, you have with you death benefit of 25 percent and premiums are stopped . You sh...

  As an employee of USPS, you dedicate your entire career delivering parcels and envelops to fellow citizens across the country. Considering your commitments to public service, you may be eligible for specific programs provided by the government. When you can no longer work due to aging, you need to have some USPS health benefits after retirement plans . Here is a general summary of this federal government program. Health insurance The US Postal Service covers the Federal Employees Health Benefits (FEHB) Program for its employees’ retirement plan. This insurance allows the employees to get benefits when they need medical attention. The retirement plan is flexible, and it provides most of the medical expenses to employees when they are sick or injured. The FEHB is effective and affordable because contributors are not subject to taxes. There are also other perks such as Fee-For-Service, Health Maintenance Organizations (HMOs), and High Deductible & Consumer-Driven Health Plans. V...