Federal government employees’ benefits are particularly complex. We work with employees from a number of agencies and have a thorough understanding of their often-nuanced retirement options. We can help you understand your specific options and create a financial framework to achieve your goals now and in retirement.
If you are interested in seeing a sample plan for “Jack and Julie,” a professional in the private sector and a CDC employee respectively, please click here.
Our expertise includes:
We have helped federal government employees understand their pension options under both the Civil Service Retirement Act (CSRS) and the Federal Employee Retirement System (FERS). We will work one on one with you to analyze your potential retirement scenarios, including early retirement, and how your pension interacts with Social Security.
Thrift Savings Plan (TSP) Options
We will collaborate with you in selecting the best TSP strategy in light of your overall situation and retirement goals. Please see our TSP retirement planning page for more information on the TSP plan options you face and how we can help provide you clarity.
As a federal government employee, you have access to the largest group life insurance program in the world, the Federal Employees’ Government Life Insurance (FEGLI). We will help you determine whether you need coverage in retirement, and if so identify the coverage available to you as a retiree so you can select the optimal combination for your situation.
If you are a federal employee considering early retirement, we will work with you to determine if early retirement is feasible and, if so, draft a road map to get you there. As part of our planning, we will help you create a budget for retirement, calculate your retirement income, and address potential red flags such as age and TSP restrictions.
Your Personalized Plan
Whether you plan to retire early or not, we will build a financial framework to help you achieve your goals. Beyond the benefits specific to federal government employees, your comprehensive plan will incorporate your other needs such as budgeting, cash flow, tax planning, and estate planning.
If you are interested in seeing how a federal employee financial advisor can help you make a smooth transition into retirement, please contact us. We offer a complimentary consultation and would be happy to talk with you.
The Thrift Savings Plan, or TSP, is the Federal government’s version of a 401(k) plan. It shares the following characteristics with many 401(k) plans: Both a traditional option and a Roth option. Contributions to the traditional option reduce your taxable salary, but...
Several weeks ago, I worked with a couple who wanted to retire early. At first glance, they seemed well situated to do so, as they had both worked as teachers for decades and they would thus both have a healthy pension. However, when I put together the plan, I found...
I recently completed work with a client who was considering switching jobs. It was an interesting case, as the switch involved moving from a job with a pension plus a 401k-like retirement plan to a job with either a pension or a 401k-type plan. The primary question...