While many federal employees will be eligible to retire in the next fifteen years, unfortunately some of them will discover they will be unable to retire at the time they intend to because important tasks -- that should have been performed during their federal service -- were not completed. This article discusses the 10 biggest federal retirement planning mistakes that many … [Read more...] about 10 Biggest Mistakes Federal Employees Make When Planning for Retirement (and How to Avoid Them)
FERS
Using OPM’s ‘Federal Ballpark E$timate’ Calculator for FERS / CSRS
The Federal Ballpark E$timate (FBE) offered by the Office of Personnel Management can be used as a guideline for a federal employee's future retirement needs. It is a retirement savings planning tool -- and is not to be used to get an estimate on an employee's federal pension. The FBE includes projected federal CSRS and FERS annuity and Thrift Savings Plan benefits to help … [Read more...] about Using OPM’s ‘Federal Ballpark E$timate’ Calculator for FERS / CSRS
The Financial Consequences of Early Retirement and Buyouts
Since any early out authority extends only for a short period, this column will discuss some of the financial consequences of an early retirement. The information presented will hopefully help those employees eligible for early retirement make the right decision in deciding whether they should retire at such a time. It is important to discuss why an agency wants to offer … [Read more...] about The Financial Consequences of Early Retirement and Buyouts
Guide to Early-Out Retirement Offers for Federal and Postal Employees
What is a Voluntary Early Out? Voluntary Early Retirement Authority (VERA) allows agencies that are undergoing substantial restructuring, reshaping, downsizing, transfer of function, or reorganization to temporarily lower the age and service requirements in order to increase the number of employees who are eligible for retirement. The authority encourages more voluntary … [Read more...] about Guide to Early-Out Retirement Offers for Federal and Postal Employees