A complete and comprehensive estate plan includes properly filled out beneficiary designation forms. Ed Zurndorfer discusses what federal employees need to consider in avoiding the 10 biggest mistakes in making their beneficiary designations more…
Thrift Savings Plan RMD and IRA Planning Strategies
The SECURE Act 2.0 resulted in several changes to the Thrift Savings Plan and IRAs. Ed Zurndorfer outlines a number of planning issues surrounding required minimum distributions (RMDs) for both active federal employees and retirees more…
TSP Updates In-service Age 59.5 Withdrawal Rules
In 2024, the Thrift Savings Plan updated its rules for in-service withdrawals. Ed Zurndorfer outlines the updated rules for TSP participants who make age-based (age 59.5) withdrawals more…
TSP Updates Financial Hardship Withdrawal Rules
Thrift Savings Plan updated its rules for in-service withdrawals earlier this year. Ed Zurndorfer discusses the updated TSP rules for financial hardship withdrawals in this part of a two-part series more…
How to Deal With OPM’s Delay in Retirement Application Processing
Delays in receiving your first full FERS or CSRS annuity check can be 3-10 months. Ed Zurndorfer, provides a checklist of how to expedite your retirement application — plus practical tips on how soon-to-retire employees should prepare for a possible cash flow problem during the early months of retirement more…
IRA Beneficiaries Get More Time to Make Traditional IRA RMDs
Ed Zurndorfer explains why any non-spouse beneficiary (with some exceptions) of a traditional IRA whose owner died after December 31, 2019, and who must withdraw the entire inherited traditional IRA within 10 years of the death of the traditional IRA owner, does not have to withdraw any inherited IRA funds during 2024 more…
Understanding Social Security Widow/Widower Benefits
Ed Zurndorfer discusses Social Security widow/widower benefits including when and how a surviving spouse can receive a survivor benefit and how these benefits can assist the surviving spouse meet financial needs more…
Social Security and Children’s Benefits
In addition to retirement income, Social Security can also serve as a lifeline for children when one or both of a child’s parents retires, becomes disabled, or dies. Ed Zurndorfer discusses children’s Social Security benefits including which children are eligible, when these benefits are reduced and stop, and how parents can apply for them more…
How Social Security’s Earnings Test Can Affect Your Retirement Benefits
Ed Zurndorfer discusses how the Social Security earnings test affects individuals between age 62 and their full retirement age who are receiving their Social Security retirement benefits and who also have earned income. Practical examples are included more…
Recharacterization of Roth IRA Contributions
Some federal employees may have made contributions to their Roth IRAs when in fact they were not eligible to make these contributions. They therefore must recharacterize their Roth IRA contributions. Ed Zurndorfer discusses how to do it