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Federal Employee Retirement Seminars: Online Training Workshop for FERS
Join our FREE live online retirement training workshops for federal employees! Learn about the FERS pension, the TSP, Social Security, FEHB, and more!
Join our FREE live online retirement training workshops for federal employees! Learn about the FERS pension, the TSP, Social Security, FEHB, and more!
What is the difference between a military TSP and a regular civilian account? A few things we’ll mention here but our TSP calculator is designed for federal employees and uniformed services.
Understanding how to calculate your FERS retirement benefits with links to our easy-to-use calculator and informal free webinar. Understand your FERS pension and ensure a secure federal retirement.
Retirement requirements, including the mandatory retirement age, for air traffic controllers. Plus – information about their income in retirement, including the FERS pension, the TSP, and the Social Security supplement.
Backdoor Roth IRA Conversion: Beware of Tax Traps and Pitfalls For high earners seeking tax-advantaged retirement savings, the backdoor Roth IRA presents a compelling opportunity. This strategy allows individuals exceeding the income limits who are unable to directly make Roth IRA contributions but still harness the benefits of tax-free growth and withdrawals in retirement. By contributing to a traditional IRA and subsequently converting it to a Roth IRA, this “backdoor” approach opens a pathway to potentially significant tax savings in
IRS Finalizes Beneficiary RMD & 10-Year Rule on Inherited IRA The IRS recently released final regulations for inherited IRAs, clarifying and reaffirming controversial rules around required minimum distributions (RMDs). Simultaneously, the agency offered temporary relief for particular beneficiaries by delaying final RMD rules and waiving penalties for missed distributions in 2024. What is the 10-Year RMD Rule, and How Does It Work? The SECURE Act of 2019 introduced a 10-year rule for most non-spouse beneficiaries, requiring them to empty inherited
IRA Required Minimum Distribution: Start Age, Calculations, and More A Required Minimum Distribution (RMD) is the minimum amount of money you must withdraw annually from certain retirement accounts, starting at a specific age determined by IRS regulations. The purpose of RMDs is twofold: first, they ensure that you utilize your retirement savings during your lifetime rather than indefinitely deferring taxes; second, they provide the government with tax revenue from these distributions. Tax-deferred retirement accounts are subject to RMDs. Examples are
SECURE Act 2.0: Supercharging Retirement Savings for Those Age 60-63 The Setting Every Community Up for Retirement Enhancement (SECURE) Act 2.0, signed into law in December 2022, is a game-changer for retirement savers. One of the most significant changes is Section 109, which significantly increases the catch-up contribution limits for those between the ages of 60 and 63. This provision aims to help older workers accelerate their retirement savings in the crucial years leading up to retirement. What is
HCFSA vs HSA: Options on Healthcare Savings Healthcare costs can be a significant financial burden for many individuals and families. Fortunately, options are available to help manage these expenses, such as Health Care Flexible Spending Accounts (HCFSA, or FSA) and Health Savings Accounts (HSA). Both offer tax advantages and can be used to pay for qualified medical expenses, but they differ in eligibility requirements, contribution limits, and other features. This article will comprehensively compare HC FSA and HSA to help
Sign Up for the Federal Retirement Newsletter You can expect up-to-date news and topics that federal employees find useful in preparing for retirement. That may be federal news, employee benefits, or financial planning education. * indicates required First Name *Last Name *Email Address * How to Use PlanWell’s Resources Learning Center 200+ articles on federal benefits & financial planning. The learning center has a dedicated spot just for Feds. There is a wealth of information in our catalog of
