With Roth IRAs — together with Roth TSP accounts — federal employees can save for their future retirement in a tax-free way. Any Roth accounts remaining at their deaths can be passed on to family members tax-free. However, high-earning federal employees who may be limited or even barred from contributing to a Roth IRA. Ed Zurndorfer outlines three more methods to fund their Roth IRA. Practical examples are included
Some Considerations on OPM’s Deferred Resignation Program
Ed Zurndorfer breaks down some of the issues federal employees should consider regarding the “deferred resignation program” offered by the Office of Personnel Management. Includes references to opinions from groups representing federal employees
High Income Federal Employees Have Options for Funding Roth IRAs: Part I
With Roth IRAs — together with Roth TSP accounts — federal employees can save for their future retirement in a tax-free way. Any Roth accounts remaining at their deaths can be passed on to family members tax-free. However, high-earning federal employees who may be limited or even barred from contributing to a Roth IRA. Ed Zurndorfer reveals opportunities outside of direct Roth IRA contributions that will allow them to fund their Roth IRAs. Practical examples are included
FERS Postponed Retirement
Ed Zurndorfer outlines the postponed retirement option for those in the Federal Employees Retirement System (FERS) including the strategy to minimize or eliminate the annuity reduction. Several practical examples are included
FERS Deferred Retirement Option
Ed Zurndorfer discusses the option for FERS employees who elect to leave federal service before they are eligible for an immediate (and unreduced FERS annuity) retirement and may be eligible to receive their FERS annuity at a later date
FERS Early Retirement Option
Ed Zurndorfer discusses the early retirement option available to eligible FERS employees in the form of a Voluntary Early Retirement Authority (VERA) (with no employee “buyout”) or a Voluntary Separation Incentive Payment (VSIP) (with a lump-sum payment).
FERS Retirement Options for Special Provision Employees
Ed Zurndorfer outlines the retirement options for FERS employees who are classified as Special Provision employees. Special Provision employees include law enforcement officers (LEOs), customs, border and protection officers (CBPOs), firefighters (FFs) and air traffic controllers (ATCs).
FERS Retirement Option: Voluntary/Optional Retirement
Ed Zurndorfer explains the immediate voluntary/optional retirement option available to those covered by the Federal Employee Retirement System (FERS)
Aggregated RMD Must Be Taken First Before Roth IRA Conversion
Ed Zurndorfer explains an important new IRS ruling that affects individuals who own multiple traditional IRAs and want to convert them to Roth IRAs
5 Common Mistakes to Avoid When Performing Roth IRA Conversions
The idea of receiving tax-free income in retirement via Roth IRAs has attracted many federal employees and retirees. However, Ed Zurndorfer describes the five most common mistakes you should be aware when performing a Roth IRA conversion — and the questions you need to ask before doing it