As you know, planning your federal retirement can be complex. That’s why many pre-retirees choose to work with a retirement advisor or consultant. However, it’s a challenge to find an advisor who fully understands how your federal benefits work — especially in retirement.
To develop a strategic retirement plan, you need a consultant who knows the facts about all your government benefits: FERS/CSRS, TSP, FEGLI, FEHB and Social Security. With this knowledge, they’re better equipped to analyze your projected retirement income and identify any gaps or insurance issues another advisor may miss.
What A Federal Retirement Consultant Brings To The Table
- Understands how your annuity works and the different options for electing a survivor annuity.
- Knows the differences between a deferred or postponed FERS annuity and how much it may reduce your retirement income.
- Understands the FEHB 5-Year Rule for continuing medical insurance into retirement plus FEHB survivor benefits for your spouse and eligible children.
- Knows the ins and outs of maximizing your TSP, Catch-Up contributions, and how to take advantage of the new 2021 TSP Spillover Provision if you’re age 50 or over.
- Can advise you on the pros and cons of FEGLI in retirement to identify gaps in your life insurance coverage plus other strategies for a financially-secure retirement.
Perhaps most importantly, a federal retirement consultant is usually up to date on the latest rules, requirements and recent changes to your federal benefits.