Understanding Your FERS Retirement

Understanding Your FERS Retirement

When 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 Retirement Pension Social Security Thrift Savings Plan (TSP) Your FERS pension and Social Security will be fixed dollar amounts. But the money you get from your TSP will depend on […]

Financial Planner for Federal Employees

Financial Planner for Federal Employees

Micah Shilanski, CFP® Micah Shilanski is a CERTIFIED FINANCIAL PLANNER™ professional who specializes in helping federal employees get the most out of their federal retirement benefits. What is Different about Micah? Micah has unique experience in federal retirement benefits.  Micah teaches FERS pre-retirement classes.  But he more importantly – as a financial planner for federal […]

FERS Retirement Eligibility

FERS Retirement Eligibility

“When Am I Eligible to Retire?” There are many different sets of rules for FERS retirement eligibility.  Many federal employees start planning their retirement by calculating their pension.  But before you try to calculate your FERS pension – the first question to ask yourself is “Am I eligible to retire?” What age? …And how much […]

FERS Immediate Retirement

FERS Immediate Retirement

Sometimes this is simply called regular FERS Retirement or Voluntary Retirement. FERS Immediate Retirement is the most common type of retirement under the Federal Employee Retirement System (FERS). You are eligible for an immediate voluntary FERS Retirement if you have the right combination of age and years of creditable service. There are three combinations of […]

FERS Retirement 62 and 20 Bonus

FERS Retirement 62 and 20 Bonus

FERS Retirement with 10% Bonus: Higher Pension for Age 62 & 20 Years Some people who qualify for regular FERS retirement will also qualify for a special 10% bonus. If you retire with at age 62 (or older) and with at least 20 years of creditable service – your pension gets a 10% bonus. Your […]

FERS Supplement

fers supplement

Special 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 retire before age 62 – but it’s so unknown, it’s practically a secret. The FERS Supplement is also called the Special Retirement Supplement or SRS. It is designed to help bridge […]

Your TSP Retirement Choices

Official Personnel Folder (OPF)

When you are ready to retire, you have several TSP retirement choices. You can… Leave your money in the TSP Take monthly TSP withdrawals Annuitize your TSP with Met-Life Transfer your TSP money to an IRA Let’s take a closer look at each option… 1. Leave Money in the TSP You can leave the money […]

FERS Early Out Retirement

FERS Disability Retirement

There are two main types of FERS Early Retirement. One is MRA+10 Retirement which is available to anyone who is eligible. The other type of Early FERS Retirement is when your agency is going through a RIF – and they offer employees a chance to take an Early Out. On this page, we’ll be talking […]

FERS Survivor Benefits

FERS Survivor Benefits

When most people think of FERS survivor benefits – they think of the survivor annuity. But you should know that there are actually many different survivor benefits in the Federal Employee Retirement System (FERS). FERS has several items with survivor benefit options or important beneficiary designations that you should know about, including: FERS Survivor Annuity […]

CSRS Survivor Benefit

CSRS Survivor Benefits

When we talk about CSRS Survivor benefits – most people think of the survivor annuity. But Civil Service Retirement System employees have several choices when it comes to survivor benefits. The following items have important survivor benefits or beneficiary designation options that you should know about: CSRS Survivor Annuity or Pension FEHB Health Insurance FEGLI […]

FERS Postponed Retirement

Postponed and Deferred Retirement

A FERS Postponed Retirement is when you separate from service with at least 10 years of creditable service, and you have at least reached your MRA (Minimum Retirement Age). But instead of drawing your pension when you separate from service – you postpone it until later. Why would you postpone drawing your FERS retirement pension? […]

Your High 3 Salary

retirement mistakes

Your High 3 Salary is an important part of your pension calculation for federal retirement.  Your High 3 Salary is the highest average basic pay you earned during any 3 consecutive years of Federal service. You should also know that your High 3 Salary is calculated based on three *consecutive* years, NOT calendar years. So […]