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FERS Webinar
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FERS Webinar

Author: David Fei, CFP®, ChFEBC℠, AIF®
Federal-Employee-Financial-Advisor

Health Insurance Secret for Retired Military Feds: Suspend FEHB for Tricare

Health Insurance Secret for Retired Military Federal Employees: Suspend FEHB to use Tricare The Federal Employees Health Benefits (FEHB) program serves as a crucial healthcare resource for Feds, both current and retired, including those with a military background. FEHB offers a broad spectrum of health insurance plans to choose from, tailored to the diverse needs of federal workers. However, if you are a retired military federal employee, you may also have access to TRICARE, the military healthcare program. In this article,

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Financial-Advisors-For-Federal-Government-Employees

New RMD Provisions in 2023: Required Minimum Distribution at Age 73 and SECURE Act 2.0

Understanding the New RMD Provisions for IRA in 2023: Required Minimum Distribution at Age 73 and SECURE Act 2.0 As retirement approaches, individuals must navigate a complex set of rules and regulations regarding their retirement accounts. One crucial aspect of retirement planning is understanding Required Minimum Distributions (RMDs). RMDs dictate the minimum amount individuals must withdraw from their accounts each year, starting at a certain age.   Overview Required Minimum Distributions (RMDs) are the minimum amount of money individuals must

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Financial-Advisors-For-Federal-Government-Employees

Net Unrealized Appreciation (NUA): A Simple Explanation

Net Unrealized Appreciation (NUA) is a valuable tax strategy that can significantly impact your financial future. Whether you’re a long-time investor or you’re just starting to explore your options, understanding NUA can be a game-changer. In this article, we’ll break down the concept of NUA, explaining what it is, how it works, and why it matters for your financial planning. What is Net Unrealized Appreciation (NUA)? Net unrealized appreciation (NUA) is the difference between the original cost basis of an

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Retirement-Planning-Workshops-For-Federal-Employees

Social Security COLA 2024: How Much Will Your Benefits Increase?

The Social Security Administration (SSA) has announced that Social Security benefits and Supplemental Security Income (SSI) payments will increase by 3.2% in 2024. This is the annual cost-of-living adjustment (COLA) based on the Consumer Price Index for Wage Earners and Clerical Workers (CPI-W). The CPI-W measures inflation that tracks the prices of goods and services that most Americans buy.   The 3.2% COLA for 2024 is significantly lower than the 8.7% COLA beneficiaries received in 2023. This is because inflation

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Retirement-Planning-Workshops-For-Federal-Employees

Understanding Medicare Tax for High-Income Individuals

Medicare is a vital healthcare program that provides coverage for millions of Americans aged 65 and older and certain younger individuals with disabilities.  To fund this program, the government collects Medicare taxes from workers and employers.  However, not all income is subject to Medicare tax, and high-income individuals often face additional Medicare taxes.  This article will explore the intricacies of Medicare tax for high-income individuals, including the Additional Medicare Tax and the Net Investment Income Tax. Medicare Tax Basics Medicare

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Retirement-Planning-Workshops-For-Federal-Employees

Pay Yourself First: A Simple Guide to Building Financial Security

Paying yourself first is a fundamental financial habit that can have a significant impact on your long-term financial security. Essentially, it means setting aside a portion of your income for savings or investments before you pay your bills or cover your expenses. By making yourself a priority in this way, you establish a solid foundation for financial stability and future growth.   Here are some key points to understand and implement the “pay yourself first” principle: Establish a Budget: Start

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Retirement-Planning-Workshops-For-Federal-Employees

TSP Matching Explained: How to Supercharge Your Retirement Savings

The Thrift Savings Plan (TSP) is a vital retirement savings vehicle for federal employees and members of the uniformed services in the United States.  One of the key benefits of the TSP is the matching contributions offered by the government.  Understanding how the TSP matches contributions can help you make informed decisions about your retirement savings strategy and maximize your financial security in your post-working years. What is the TSP? The TSP is a retirement savings plan designed to allow

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Retirement-Planning-Workshops-For-Federal-Employees

FERS Disability Retirement: A Lifeline for Federal Employees

  Federal employees have access to a comprehensive retirement system known as the Federal Employees Retirement System (FERS).  Within this system, there exists a valuable benefit called FERS Disability Retirement, designed to provide financial assistance to federal workers who become disabled and are no longer able to perform their jobs.  In this article, we’ll break down the basics of FERS Disability Retirement.   What is FERS Disability Retirement? FERS Disability Retirement is a retirement benefit available to eligible federal employees

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Retirement-Planning-Webinars-For-Federal-Employees

Student Loan Forgiveness Update: The Latest Insights on IDR Account Adjustment

The U.S. Department of Education has unveiled a much-anticipated update on the Biden administration’s key initiative aimed at jump-starting student loan forgiveness for millions of borrowers. This initiative, known as the Income-Driven Repayment (IDR) Account Adjustment, was introduced last year to address long-standing issues with IDR plans, which allow borrowers to repay federal student loans based on their income and family size. IDR plans typically lead to student loan forgiveness after 20 or 25 years, depending on the specific plan

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Retirement-Planning-Webinars-For-Federal-Employees

Donor-Advised Funds: A Simple Guide

  Donor-Advised Funds (DAFs) have gained significant traction in the world of philanthropy, providing a versatile and streamlined approach to charitable giving. Whether you’re a seasoned philanthropist or someone new to the concept of charitable donations, understanding the key points about DAFs can help you make informed decisions about your giving strategy. Let’s delve into the world of Donor-Advised Funds and uncover what makes them an attractive option.   What are Donor-Advised Funds? At its core, a Donor-Advised Fund is

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