Why more federal employees and retirees are protecting their retirement savings using this overlooked, IRS-approved program
Ed Zurndorfer discusses the CSRS Voluntary Contribution Program including an overview, CSRS/CSRS Offset employee eligibility requirements, filing an application, contributions and how they are made, limits on contributions, and withdrawal options more…
Recent Articles
Medicare General Enrollment Period: What Are the Implications for Federal Retirees?
Most individuals find the Medicare enrollment process to be confusing. Ed Zurndorfer reviews the four Medicare enrollment periods, and how they apply to most federal employees and retirees when they become first eligible to enroll at age 65. Practical examples are included more…
When Federal Employees Can Make Penalty-Free Early Withdrawals from Traditional TSP or IRAs
Ed Zurndorfer discusses the exceptions that allow a federal employee to make withdrawals from their traditional Thrift Savings Plan or from a traditional IRA before age 59.5 and not be subject to an early withdrawal penalty. more…
High-3 Average Salary: What Is It and How Is It Calculated?
All eligible retiring federal employees will receive an annuity that is calculated based on their length of federal service and their high-three average salaries. Learn what it is, what pay is included, and how it’s calculated — with several helpful examples more…
IRS Provides Relief for Certain Tax Returns Filed During 2020 and 2021
Ed Zurndorfer explains which individuals are eligible for this relief, what type of tax relief is available, and exceptions to the penalty relief more…
IRS Increases Penalty for Underpaying Estimated Taxes
Federal employees who did not track their federal income withholding from their paychecks during 2023 may be in for a shock this spring when they file their federal income tax returns. Ed Zurndorfer offers some suggestions for federal employees and retirees to keep their federal income tax payments on track in order to avoid under withholding penalties more…
How the 2024 Federal Pay Raise Affects a Retiring Employee’s Lump-Sum Annual Leave Payment
Ed Zurndorfer explains how the pay increase affects the lump-sum annual leave payment for unused annual leave hours made to those employees who retired more…
Understanding the 2024 COLA – Part II: FERS and “Trans” FERS Annuitants and Survivor Annuitants
Ed Zurndorfer outlines the cost-of-living adjustment for those in the Federal Employees Retirement System, how it’s determined, and the effect on annuities. Practical examples are included. more…
Understanding the 2024 COLA – Part I: CSRS/CSRS Offset Annuitants and Survivor Annuitants
Ed Zurndorfer outlines the cost-of-living adjustment for those in the Civil Service Retirement System, how it’s determined, and the effect on annuities. Practical examples are included. The second column in this series will discuss the 2024 COLA for FERS retirees more…
How a Charitable Gift Annuity Can Be Advantageous to Federal Employees and Retirees with Sizeable Estates
Ed Zurndorfer discusses how a charitable gift annuity works, the tax implications, advantages and disadvantages more…