Advantages Of Working With An Advisor Who Understands Federal Benefits

Advantages Of Working With An Advisor Who Understands Federal Benefits

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.