Financial Literacy Month: Making the Most of Your TSP as a Federal Worker
April 10, 2023
During Financial Literacy Month, it is essential to remind Federal Employees Retirement System (FERS) covered workers of their retirement benefits and investment options. Retirement income for these workers typically comes from three sources: the FERS basic retirement benefit, Social Security, and the Thrift Savings Plan (TSP). The TSP is a defined contribution plan that offers […]
The Social Security Fairness Act Gives Back Funds to Federal Employees
October 18, 2022
It’s no secret that Social Security is heading toward disaster by 2035 unless congress allocates significant tax dollars toward funding it. Current legislation is being written to address this impending Social Security breakdown. One of those bills gaining momentum is the Social Security Fairness Act, which would be a much-deserved win for federal employees. The […]
How Could the Fire ‘At Will’ Bill Affect Your Retirement?
August 5, 2022
A new bill was introduced to congress that would allow for a swifter termination of federal employees. And it could threaten federal workers’ retirement plans as well. The Public Service Reform Act, a bill introduced by Rep. Chip Roy, gives government officials a process to fire federal employees at will. It applies only to career […]
Federal Employee Retirement: Best Day to Retire in 2018 Is Approaching
December 6, 2018
Earlier this year, we covered the best days for FERS retirement. Because FERS benefits kick in on the first day of the next month, the best days to retire each year are the last days of the month. That’s because those who decide to wait until the second or third day of the month for […]
CSRS Retirement: When is the Best Day to Retire?
November 27, 2018
If you are a federal employee who has contributed to the Civil Service Retirement System (CSRS) throughout your tenure, then you may be ready to leave public service and begin your CSRS retirement. Before you can do that, it is important to strategically plan your retirement date to maximize your benefits and start receiving your […]
Find The Best Day of the Month for FERS Retirement
November 14, 2018
If your tenure in the federal government comes to an end and you’re thinking about FERS retirement, you’re likely looking ahead to the start of your retirement. Whether you plan to explore various hobbies or want to travel the world, the best is yet to come in the next years of your life. While you […]
Checking The OPM Backlog: Make Sure You Retire on Time This Winter
October 29, 2018
We try to report on the OPM backlog on a regular basis to provide insight into the state of retirement processing and to give employees an idea for what they can expect when they apply for retirement. The Office of Personnel Management has a significant backlog in the number of retirement applications it needs to […]
Use An Annuity Calculator to See How the High-5 Plan Affects You
October 2, 2018
The MyFEDBenefits team has kept a close eye on the government’s proposed retirement policies over the past 2 years. Though the changes aren’t done yet, it looks like retirement benefits may be a sticking point in the 2019 proposed budget. It’s time that we can start to use an annuity calculator to see how some of […]
Are Your FERS, TSP, and Social Security Accounts Indexed for Inflation?
August 28, 2018
There are multiple factors to consider when saving for your federal retirement. You want to enjoy your life now, but you also need to make sure you have enough saved once you leave public service. Once you’re finally ready to retire, you have to consider what to withdraw, when to pull your funds, and how […]
What FERS Employees Need to Know About Crediting Unused Sick Leave
August 14, 2018
Every employee treats their sick leave differently. Some employees battle through colds and stomach issues, determined not to miss a day. Other employees use every sick day possible, wanting to take advantage of the time off — even if they just have a light sniffle. FERS employees may want to consider additional information before deciding […]
