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Federal Employees Benefits Q &A

Do you have questions about your federal employee CSRS or FERS pension/annuity or federal employee retirement planning? Concerns about your Thrift Savings Plan (TSP) account or what about federal employee pay and leave issues?

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The Q&A forum is moderated by Ed Zurndorfer -- an expert on federal employee benefits -- and a Certified Financial Planner, chartered life underwriter and chartered financial consultant in Maryland.

Zurndorfer is also the author of several federal employee benefits guides published by Federal Employees News Digest.

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bustaraven  
#1 Posted : Monday, December 28, 2020 5:09:35 PM(UTC)

Rank: Groupie

Groups: Registered
Joined: 6/18/2006(UTC)
Posts: 111

Hi Ed, I just completed my first full of retirement under FERS. I opted for my federal health insurance (about $400 a month) and a 10 % reduction for 50% survivor benefits. Therefore my pension of about $1850 a month (22200 a year) became around $1250 a month (15000 a year). My question is, will 22,200 be what I have to claim on my income taxes for my 2020 pension income or will I be able to deduct the cost of survivor benefits and/or insurance premiums from the 22200 before I claim my pension income? Thanks for your time
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