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Retirement Planning


Whether you are close to federal employee retirement or just starting out in your career, this is the place to share ideas with your federal colleagues on creating a secure financial foundation.


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LawOrder  
#1 Posted : Saturday, March 14, 2020 6:34:15 AM(UTC)
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How many more years do you plan to work in federal service?

For me, about 26 more years for a total of 40 years in federal service, unless something bad happens to our pension benefits.
Endless Summer  
#2 Posted : Saturday, March 14, 2020 1:22:54 PM(UTC)
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Originally Posted by: LawOrder Go to Quoted Post
How many more years do you plan to work in federal service?

For me, about 26 more years for a total of 40 years in federal service, unless something bad happens to our pension benefits.


Heck, I'm just hoping to get through this one, but I need two more, five would be nice, it's going to depend on where I am and how I feel about things.
someoldguy  
#3 Posted : Saturday, March 14, 2020 2:16:38 PM(UTC)
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I got started with all this late in life, so I'm thinking the end of the pay period after I hit the five-year mark :)
DISCLAIMER: You read it on an open internet forum :)
GWPDA  
#4 Posted : Saturday, March 14, 2020 5:13:28 PM(UTC)
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Count down to mid-July.
Citrine  
#5 Posted : Saturday, March 14, 2020 5:27:23 PM(UTC)
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Originally Posted by: someoldguy Go to Quoted Post
I got started with all this late in life, so I'm thinking the end of the pay period after I hit the five-year mark :)



you going to be able to keep FEHB?

Roger.D  
#6 Posted : Saturday, March 14, 2020 6:04:00 PM(UTC)
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It really depends on the agency you work at. And the management you have.

USPS,. 5 more years will be MRA. I won't have my 30. But expect the TSP/IRA to to cover things.

If management plays nice, unlikely, I will go to age 60.
Endless Summer  
#7 Posted : Saturday, March 14, 2020 6:37:43 PM(UTC)
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Originally Posted by: Roger.D Go to Quoted Post
It really depends on the agency you work at. And the management you have.

...


Amen to that. Right now I'll be surprised of I make it through tomorrow.

I didn't think management like this existed any more. I have no option other than to hope that the system offers some protection and prepare for the worst.
GordonG  
#8 Posted : Saturday, March 14, 2020 7:16:59 PM(UTC)

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19 weeks and 6 days...July 31st.

USPS

39 years 7 months.
"Fear, not clemency, restrains the wicked."


"Everyone has a plan 'till they get punched in the mouth." Mike Tyson
ex-military  
#9 Posted : Monday, March 16, 2020 4:24:20 AM(UTC)
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Last day of the last full pay period of calendar year 2037. That puts me at 67 yo with 44 years of service (45 after SL gets added in). The annual leave payout will put me past my 68th birthday, so I can defer SS until then and take advantage of the permanent bump.
someoldguy  
#10 Posted : Monday, March 16, 2020 5:07:26 AM(UTC)
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Originally Posted by: Citrine Go to Quoted Post
Originally Posted by: someoldguy Go to Quoted Post
I got started with all this late in life, so I'm thinking the end of the pay period after I hit the five-year mark :)
you going to be able to keep FEHB?
Should be, assuming I stay enrolled the rest of the time.

DISCLAIMER: You read it on an open internet forum :)
Roger.D  
#11 Posted : Tuesday, March 17, 2020 7:53:32 PM(UTC)
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You can continue FEHB if you retire on an immediate retirement.

https://www.opm.gov/faqs...b-4e64-9a72-fae98408fd0e

You are illegible for immediate retirement when you are age 62 with 5 years of service.

https://www.opm.gov/reti...information/eligibility/

SD Analyst  
#12 Posted : Thursday, March 26, 2020 11:45:47 AM(UTC)
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Probably 2-3 more years. 2.5 more will give me 40 years. CSRS Offset, had a 7 year break in service. I will be close to the max with sick leave included, shooting for that. 4 Agencies, ending up with the one I started with in 1975.
JDSIII  
#13 Posted : Friday, March 27, 2020 6:16:50 AM(UTC)
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The plan is in 9 years, 2029 when I hit 62 and will have 41 years of service.
bp340  
#14 Posted : Friday, March 27, 2020 6:32:26 PM(UTC)

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Eligible in 3 years 10 months for the enhanced FERS retirement at age 50. That will give me just shy of 28 years (combined FERS/Military) and 42 percent of my high 3. Will probably do 2 more to end up with 30 (youngest child will be through college by then). Highly unlikely to go past 52.
someoldguy  
#15 Posted : Saturday, March 28, 2020 1:40:45 PM(UTC)
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Originally Posted by: bp340 Go to Quoted Post
Eligible in 3 years 10 months for the enhanced FERS retirement at age 50.
What is that, for law enforcement?

DISCLAIMER: You read it on an open internet forum :)
bp340  
#16 Posted : Saturday, March 28, 2020 2:36:58 PM(UTC)

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Originally Posted by: someoldguy Go to Quoted Post
Originally Posted by: bp340 Go to Quoted Post
Eligible in 3 years 10 months for the enhanced FERS retirement at age 50.
What is that, for law enforcement?



Yes, It’s the 6C/12D FERS enhanced/covered retirement. 20 covered years @ 50 or 25 covered years at any age. This also qualifies one for the FERS supplemental and immediate access to TSP (when you retire at age 50 with 20 covered years FERS).
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