FERS Webinar

Category: Financial Planning
federal-retirement-planning

Help! I Changed My Mind About Taking Social Security Benefit: How to Suspend and Restart for a Higher Amount

Changed Your Mind About Taking Social Security Early? Here Are Your Options Social Security Retirement Benefit is an integral part of retirement planning for federal employees and private sector workers.  While taking benefits early offers immediate income, it can also mean a permanent reduction in your monthly payment amount. What if you claim early and then have a change of heart? Fear not; let us review your options and why someone would want to stop their benefit payments.  Understanding the

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FERS-Webinar

OPM Retirement Processing Time Update – March 2024

Federal Retirement Backlog Update – March 2024 OPM received 7,943 retirement claims in March 2024, down slightly from 8,794 in February.  They were able to contine to process about 10,000 claimes and brought the backlog down to 16,823.  Lowest so far in 2024 and much lower than the same time last year. What is the Current Status of the Federal Retirement Backlog Monthly Average Retirement Processing Time The average retirement application processing time dramatically decreased from 68 days in December

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FERS-Workshop

Comparing Mutual Fund and ETF: Which is Better?

ETFs vs. Mutual Funds: Navigating Your Investment Choices In the vast options of investment, two tools have emerged as popular choices for investors: Mutual Funds and ETFs.  Both offer ways for investors to professional management and access to markets that may be readily available for diversification. However, there are some critical differences between them. This overview will delve into the key characteristics, advantages, and considerations associated with both mutual funds and ETFs, providing a foundation for exploring their respective pros

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Federal-Retirement-Workshop

Public Service Loan Forgiveness: Understanding Federal Student Aid and Temporary Expanded PSLF

Public Service Loan Forgiveness: Understanding Federal Student Aid and Temporary Expanded PSLF The quest for educational advancement often culminates in the acquisition of a student loan, a financial decision that impacts individuals long after crossing the graduation stage. Within this context, the Public Service Loan Forgiveness (PSLF) program and its counterpart, the Temporary Expanded Public Service Loan Forgiveness (TEPSLF), emerge as beacons of hope for those burdened by student loan debt. Designed to alleviate the financial strain on those who

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federal-retirement-workshop

Reverse Mortgages: How They Work and How to Avoid Pitfalls

Reverse Mortgages: How They Work and How to Avoid Pitfalls Reverse mortgages offer a unique financial solution for seniors, allowing them to tap into the equity of their homes while still retaining ownership. This financial product can provide a lifeline for those in retirement, offering a steady stream of income, a lump sum, or a line of credit based on the home’s value. However, understanding the intricacies of a reverse mortgage, including how it works, the types available, and the

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Federal-Retirement-Workshop

Should Every Federal Employee Have a High Deductible Health Plan?

Why Every Federal Employee Should Consider a High Deductible Health Plan This FEHB Open Season When I talk to federal employees about their health plans, most say they use the BCBS plan. According to its website, it is the most popular plan for federal employees and covers up to 5.5 million active and retired feds. So why should you consider something else? Financial planning is about understanding what you don’t know. I hope this article helps you understand HDHPs and

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FERS-Webinar

February 2024 Inflation & CPI Update: Consumer Price Index Ticked Back to 3.2%

February 2024 Inflation Update: Consumer Price Index (CPI) at 3.2% The up and down of the Consumer Price Index is not over yet.  In February 2024, it rose 0.4% compared to a month ago. The CPI is published by the Bureau of Labor Statistics and the Bureau of Economic Analysis. The Federal Reserve also uses this data to determine interest rate changes and policy.    Consumer Price Index (CPI) & Core Inflation Rate The CPI data is a widely followed

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FERS-Webinar

VERA and VSIP: A Guide to Federal Early Retirement

What is VERA and How Can It Benefit Federal Employees? For federal employees approaching retirement, the Voluntary Early Retirement Authority (VERA) program presents a compelling option. VERA provides an opportunity to retire earlier than the standard age with accompanying benefits, making it an appealing choice for those contemplating a transition. Unlike conventional retirement avenues, VERA has distinct eligibility criteria and potential advantages that warrant examination. By delving into the specifics of VERA and its potential benefits, eligible federal employees can

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federal-retirement-planning

Income Tax Rates Increasing 4% for the Middle Class – Future Tax Changes Coming!

Navigating the 2025 Tax Landscape: Changes on the Horizon for Taxpayers As we edge closer to 2025, the anticipation among taxpayers regarding the looming changes in the tax landscape is causing concern. The expiration of several critical provisions of the Tax Cuts and Jobs Act (TCJA) at the end of 2025 is set to significantly alter the tax code, affecting individuals and businesses alike. This article delves into some of the key tax changes expected to come into force in

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FERS-Workshop

Rolling Over an Old Work Retirement Plan? Here’s What You Need to Know

(1) Qualified plans include, for example, profit-sharing, 401(k), money purchase, and defined benefit plans. (2) Only one rollover in any 12-month period. (3) Must include in income. (4) Must have separate accounts. (5) Must be an in-plan rollover. (6) Any nontaxable amounts distributed must be rolled over by direct trustee-to-trustee transfer. (7) Applies to rollover contributions after December 18, 2015. Maximizing Your Retirement Savings: The Benefits of Rollover IRAs and 401(k) Options Planning for retirement is a significant aspect of

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