The FedImpact Retirement Training Agenda
General Retirement Planning
- Tips to be proactive and understand the financial impact of the decisions to be made at retirement
- Importance of taking action on what you learn today
- Roughing out a retirement budget
- Role of HR, OPM, TSP, SSA & IRS in your retirement planning
- Effect of inflation & taxes in retirement
- Checking beneficiaries on all federal benefit programs
- Tips for being better prepared for a smooth transition into retirement
- Understanding what you have and what you need to know about decisions to make at retirement
Retirement Systems (CSRS & FERS)
- Basic comparison between CSRS & FERS
- Eligibility requirements for each retirement system
- Special Considerations for Law Enforcement Officers, Air Traffic Controllers and Firefighters
- How the High-3 is calculated
- Calculating the CSRS & FERS annuity (pension)
- How part-time service affects eligibility & pension calculation
- Application of unused sick leave and annual leave at retirement
- Cost of Living Adjustments applied to federal pension benefits
- Taxation of the CSRS & FERS pension
- Choosing the best retirement date
- Timeline for submitting retirement application
- Interim payments received from OPM
Survivor Benefit Plan
- Coverage, cost, and who can benefit from SBP
- Cost of Living Adjustments applied to SBP benefits
- Considerations for electing SBP at retirement
- What happens if you marry or divorce in retirement
- Special considerations for dual federal employee couples
- Important connection with FEHB
- Advantages & disadvantages of SBP
FERS Special Retirement Supplement
- Eligibility requirements and calculating the benefit
- What happens if you work after retiring
- Cost of Living Adjustments applied to SRS benefits
- Federal & state taxes on SRS benefits
Social Security
- Eligibility requirements and calculating the benefit
- What happens if you work after retiring
- Strategies for Social Security benefits
- Cost of Living Adjustments applied to SS benefits
- Federal & state taxes on SS benefits
Federal Employees Group Life Insurance
- Coverage and costs while employed
- Coverage and costs while retired
- Options for customizing your FEGLI coverage
- Role of life insurance in a retirement plan
Federal Employees Health Benefits
- Tax advantage of FEHB while working
- Eligibility to keep FEHB in retirement
- Costs of FEHB in retirement
- Special considerations for dual federal employee couples
- Special considerations for special needs children
- Other health-related programs such as FEDVIP & FSAs
- Coordination between FEHB and Medicare Part B
Federal Long Term Care Insurance
- What services Long Term Care insurance covers
- Various ways to pay for LTC services
- Coverage and costs for services
- Eligibility requirements to obtain coverage
- Options available through FLTCIP (currently suspended by OPM)
Thrift Savings Plan
- Fund choices in core funds, lifecycle funds & mutual fund window
- Tax advantages and options within the TSP while working
- How to maximize government contributions
- Tax diversification between Traditional & Roth options
- Identifying your risk tolerance for investing
- TSP loans while working & in retirement
- Withdrawal options available at retirement
- IRS rules for withdrawing TSP assets before 59 1/2
- Required Minimum Distributions
- Spousal rights in the TSP
- Using TSP to fill the gap of lost income in retirement
Bonus Videos (a deeper dive into each topic)
- Deposits, Redeposits & Military Deposits
- Voluntary Contribution Plan
- Windfall Elimination Provision
- Government Pension Offset
- FEGLI options available at retirement
ProFeds is not affiliated with or endorsed by the US Government or any government agency. Through the GSA Schedule Contract, ProFeds is able to contract directly with government agencies to provide retirement training.
