fbpx

Posted on Sunday, 21st July 2019 by Shawn McCoy

Share

I would like to welcome Shawn McCoy, President and Founder of Federal Employee Benefits Advocates, LLC (FEBA) an educational and training company, to our guest forum.  Mr. McCoy is an expert on Federal employee benefits and has spoken to over 19,000 Federal employees over the last 10 years.  This is his first of many artilces […]

Posted in

| Comments (0)

Posted on Thursday, 13th June 2019 by Dennis Damp

Share

There are many things to consider when determining your FERS retirement benefits. If you meet certain requirements, you will receive a Special Retirement Supplement which is paid until you reach age 62. This supplement is similar to the Social Security benefit earned while you were employed by the Federal government. However, since the formula for […]

Posted in

| Comments (2)

Posted on Saturday, 18th May 2019 by Dennis Damp

Share

Those approaching age 70 ½ and older are often perplexed about their Thrift Savings Plan RMD withdrawal options and how to efficiently manage the transaction’s proceeds. Some of the concerns are your TSP balance decreases with each withdrawal, annual income and taxes increase, and the earned income potential vanishes for the cash you now have […]

Tags: ,
Posted in

| Comments (0)

Posted on Saturday, 27th April 2019 by Dennis Damp

Share

Most sign up long before age 70 for a myriad of reasons. I decided long ago that I would defer my benefit until I absolutely had to apply. Next month I start collecting Social Security at age 70 and can’t believe the time has come so quickly, yet I look forward to reaching this milestone. […]

Posted in

| Comments (2)

Posted on Thursday, 11th April 2019 by Dennis Damp

Share

Anyone that plans on traveling in the future, applying for a passport or needs access to a government building will require a REAL ID. Without this document travel by plane or anywhere out of country will be impossible. According to the Department of Homeland Security (DHS), the REAL ID program was passed by Congress in […]

Posted in

| Comments (0)

Posted on Monday, 4th March 2019 by Dennis Damp

Share

The TSP currently requires that you make a full withdrawal election after you turn 70½ if you haven’t initiated any of the withdrawal options and have separated from federal service. If you fail to do that, the TSP initiates an account “abandonment” process. Fortunately, the new law passed in late 2017 establishes more flexible withdrawal […]

Posted in

| Comments (0)

Posted on Friday, 8th February 2019 by Dennis Damp

Share

I received my TSP 2018 Annual Statement this week and there was a short announcement about the Lifecycle (L) Fund changes on the backside of the Highlights sheet. The statement includes your total contributions, projected lifetime monthly annuity amount, fund and account performance statistics and more. The TSP has begun adjusting the L Fund allocations […]

Posted in

| Comments (0)

Posted on Tuesday, 5th February 2019 by Dennis Damp

Share

I received several emails from federal workers that quit because of the shutdown! They asked how to cash in their FERS retirement. Recently, the Washington Post published an article about federal employee’s facing the decision to “Stay or Quit.“ Certainly, new hires and those with only a few years federal employment were struggling, and I […]

Posted in

| Comments (0)

Terms Of Use