Federal Retirement Planning

The Benefits Analysis report is a great resource where Federal and Postal Employees can educate themselves about their unique and complex retirement benefits.    This report allows Federal employees to see all their benefits in one place both now and throughout retirement.  Having this information will help you prepare and plan for retirement more successfully.  Imagine,  seeing what your monthly pension and social security or FERS supplement will be if you retire now, next year, or in five years! This report is full of information about your benefits and what happens when you retire.

 1. Review Federal Employees Group Life Insurance (FEGLI) program choices :

To keep FEGLI coverage for retirement an employee must have been enrolled in FEGLI during the five years ending on the day the   employee retires. Employees should note that FEGLI premiums get more expensive in retirement. An employee should evaluate his or her needs for life insurance in retirement as they get closer to retirement.

2. Consider Thrift Savings Plan Contributions and Withdrawal Options: 

 If an employee expects to have a sufficient amount in his or her Thrift Saving Plan (TSP) by the time or retirement, then the employee should be contributing the maximum possible to their TSP. This includes regular contributions and “catch-up” contributions for employees at least age 50 as of Dec. 31.  

3. Examine Future Social Security benefits: 

The statement a history of an employee’s Social Security and Medicare earnings history and FICA taxes paid, together with the estimated Social Security benefits that will be paid to the individual and to his or her family in the event of disability, retirement or death. 

4. Understand Survivor Benefits Payable Upon the Death of a CSRS or FERS Employee or Retiree: 

What should employees who are close to retirement consider with respect to survivor benefits? Survivor benefits are payable upon the death of an employee or annuitant at the time of his or her death.  

5. Married Federal Employees:  Be Aware of Surviving Annuity Options for Spouse:

 An employee may elect a maximum, partial or no survivor benefit to a current spouse.