Workshop 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

 

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