Micah and Tammy have been seeing lots of mistakes and missteps happening lately, with more people reaching out to see whether they were wrong or...
Read MoreMicah and Tammy have been seeing lots of mistakes and missteps happening lately, with more people reaching out to see whether they were wrong or...
Read MoreWhen we talk about your FERS Retirement, we’re really talking about several different benefits. FERS (Federal Employees Retirement System) has three main components: Basic FERS...
Read MoreSpecial Benefit for Some FERS Who Retire Before Age 62 Have you heard about the FERS Supplement? It’s an important benefit for FERS planning to...
Read MoreFERS retirement benefits are complex. It’s easy to get overwhelmed by all of the details. But it’s important to remember that federal benefits are just...
Read More“Firstly, you are a GREAT information source regarding FERS retirees-to-be ! THANK YOU!!! Does “MRA plus 10” apply to my situation?, and if so, what would be my monthly Pension amount be if I put in for my Retirement now at my current age of 60? I was one of the “ORIGINAL” FERS Employees, starting on February 6, 1984. I worked until April 17, 2001, with a High-3 of approximately $100,000 (at GS-13, Step 10 for each of my final 6 years, before resigning from Federal service at age 42 years old). With a BirthDate of December __, 1958, my MRA is listed at age 56. I am now 60 years old. Can I receive the reduced Retirement (reduced at a rate of 5/12 of 1% per month for every month before age 62) NOW, or do I have to wait until I turn 62 years old to receive Retirement benefits? -JohnIt can be really confusing to understand your years of credible service, minimum retirement age and what types of unreduced annuities that you are eligible for.
$100,000.00 High Three FERS *17% (represents your 17 years of credible Federal Service)$17,000 a year in FERS retirement income or, $1,416.66 a month GROSS. Keep in mind, this is before healthcare, survivor or other deductions like taxes. If John, at age 60 tried to begin his pension income now, instead of waiting until age 62, he will experience a permanent reduction in his FERS annuity benefits. In his example, the reduction for starting 2 years early would be 10% – permanently. Now, this doesn’t apply to John’s situation but for other Feds reading this article listen closely, In order to keep your Federal Employee Health Benefits (FEHB) in retirement, you must leave Federal Service while being eligible for immediate retirement. Meaning you must have met one of the qualifications we have been discussing,
“I have a question related to something in one of your articles about FEHB and Medicare. The article stated: “As a full-time Federal employee, you are eligible to enroll in
“Thank you very much for the great information. Question: Do I need to list my ex-spouse on my FERS retirement application if we were married for less than 10 years
“I watched the very helpful video on ROTH IRA conversions. I will be retiring by the end of 2022 and I do not have any funds in the Roth TSP,
“Is there a way, I can find out how much I will receive at retirement and when I can collect? I worked 24 years, but I don’t know my high
Get the most out of your federal retirement benefits by taking advantage of the FERS resources created by Micah Shilanski, CFP®, and the team of independent financial advisors at Shilanski & Associates, Inc. Join the thousands of federal employees who trust us to guide them in their retirement planning journey because of our unique perspective of how your FERS benefits contribute to your comprehensive financial plan.
Year after year I see Federal Employees missing the same critical concepts in their federal retirement planning. That’s why I’ve created an online workshop to help educate Federal Employees on these critical concepts.
If you are a Financial Advisor looking to work with Federal Employees,
we are always looking for Advisors that want to deliver massive value to clients.
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