When you plan for retirement from federal service, you have several big decisions to make. In addition to planning your income from your FERS pension and TSP distributions, you also need to make sure your healthcare is covered. As a federal retiree, you have two excellent health insurance plans that will work together to cover […]
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The Federal Employee Retirement System (FERS) provides an excellent pension for government employees, and it’s generally considered the top benefit of working in public service. Your pension even has the potential to outlive you and continue to cover your surviving spouse—but only if you navigate the survivor benefits correctly. Knowing how it all works is […]
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Did you know that as a federal employee, you have access to two tax-advantaged accounts to help cover the costs of your medical care? It’s true! Federal employees can choose to open a Flexible Spending Account (FSA) and/or a Health Savings Account (HSA). These two accounts are often confused, but it’s important to understand the […]
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It’s that time of year again! Whether you like to get your taxes done quickly because you expect a refund or you cringe at the thought of all the paperwork, it’s important to know what you’re getting into. There are several changes hidden in your taxes this year, from a standard deduction boost to new […]
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With the new year comes a few important changes to the TSP—and understanding them will help you maximize your savings. Here’s what you need to know. New TSP Contribution Limits Because the TSP is a tax-advantaged retirement account, there are limits to how much you can contribute each year—the government still wants you to pay […]
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Most people don’t plan to get divorced, so when it comes, it can be incredibly stressful. In addition to the emotional strain that such a change brings, divorce is also a complex legal and financial process. Dividing up your assets fairly is a huge challenge — and it can be even more difficult for federal employees. […]
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A raise is always good news, but what can you do right now to ensure that you make the most of it? Try these ideas to stay mindful with your money in the new year. Increase Your TSP Contributions When’s the last time you looked at your TSP contributions? Getting a raise is the perfect […]
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Thinking of retiring from your job as a federal worker? Congratulations! You’ve put in a long career of public service, and now it’s time to reap the rewards of that great benefits package you’ve heard so much about over the course of your career. Unfortunately, you do have to jump through some hoops to complete […]
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