Experts warn retirees to plan for higher inflation

Title: Experts warn retirees to plan for higher inflation

Article Snip: "...Financial advisers are recommending retirees adopt investments that protect against inflation as rising living costs put ..."

Reference: www.morningstar.com

‘This is a tough time to be on a fixed income’—the grim inflation outlook and what retirees can do

Title: ‘This is a tough time to be on a fixed income’—the grim inflation outlook and what retirees can do

Article Snip: "...The nonpartisan Senior Citizens League received more than 200 emails recently “with many retired and disabled senders describing the dire situations they face as rapidly rising inflation makes it impossible to pay the bills,” the group said in a statement. “This is a tough time to be on a fixed income,” said Lisa..."

Reference: www.msn.com
Inflation 2022,

12 Best Senior Dating Websites to Find Love in 2021

Title: 12 Best Senior Dating Websites to Find Love in 2021

Article Snip: "...Peruse top-rated online dating sites to find the right senior match. ..."

Reference: usnews.com
seniors dating service,mature dating,

How To Enjoy Retirement on a Budget

Title: How To Enjoy Retirement on a Budget

Article Snip: "...An enjoyable, stress-free retirement is the end goal for many workers, but once you ride off into the sunset, you’ll still have to plan your finances. Without a regular source of income, except perhaps a pension or Social Security, you’ll have to..."

Reference: www.gobankingrates.com
budget (retirement)

The 5 Ways To Maximize Your Retirement Income From Social Security

Title: The 5 Ways To Maximize Your Retirement Income From Social Security

Article Snip: "...“When is the best time to take Social Security?” “How Can I maximize my Social Security benefits?” “Are Social Security Benefits taxable?” “Can you help me choose the best time to start receiving Social Security?” The list of Social Security questions goes on and on..."

Reference: www.forbes.com
social security,

COLAs and Timing Federal Retirement

Title: COLAs and Timing Federal Retirement

Article Snip: "...For FERS employees who aren’t eligible for a COLA during their first year or more on the annuity roll, their first COLA after becoming eligible will be for the full amount, no matter in which month that eligibility occurs . ..."

Reference: The Federal News Group

2 Easy Ways to Estimate Your Retirement Savings Goals

Title: 2 Easy Ways to Estimate Your Retirement Savings Goals

Article Snip: "...Some people might feel overwhelmed and won’t know where to start when calculating what they’ll need to save for retirement. But there are two really simple approaches that everyone can use to get a fairly good idea of what their retirement number should be. ..."

Reference: www.crossroadstoday.com
Savings Goals for Retirement

This New Retirement Research Is Wrong

Title: This New Retirement Research Is Wrong

Article Snip: "... a million-dollar portfolio should only be relied on for $33,000 in annual income. That is a sad ending for a seven-figure nest egg! Scary, too. This $33,000 salary isn’t..."

Reference: www.forbes.com
Researching Finances Relating to Retirement,

Are metaverse stocks safe enough to include in your retirement portfolio?

Title: Are metaverse stocks safe enough to include in your retirement portfolio?

Article Snip: "...The metaverse is now considered to be the next big trend in the technology sector. Broadly speaking, the concept of a metaverse involves creating immersive experiences for users in virtual reality worlds or in some combination of physical and virtual worlds using technologies such as video, virtual reality (VR), and augmented reality (AR). We are seeing many technology giants as well as newcomers racing to grab a share..."

Reference: www.usatoday.com

Thinking about retiring in 2022? Here are 3 reasons to reconsider that plan.

Title: Thinking about retiring in 2022? Here are 3 reasons to reconsider that plan.

Article Snip: "...counting down the weeks or even days until you're able to tender your resignation. But not so fast. There are certain pitfalls you might encounter if you opt to retire in the coming year. Here are a few reasons why 2022 could end up being an awful time to bring your career to an end..."

Reference: www.usatoday.com

Goldman Sachs Says Young U.S. Workers Are Plotting Early Retirements

Title: Goldman Sachs Says Young U.S. Workers Are Plotting Early Retirements

Article Snip: "...A survey signals that younger employees may also need more realistic expectations about how much money they’ll need in later life. ..."

Reference: www.bloomberg.com

Interested in retiring early? 3 lessons from people who retired in their 30s

Title: Interested in retiring early? 3 lessons from people who retired in their 30s

Article Snip: "...For many, the prospect of working a 9 to 5 job for the next 30+ years seems monotonous and disheartening. FIRE or ‘financial independence, retire early’ is a solution to that issue. People who follow FIRE save and invest more than 50% of their annual income in the hopes that their investments will yield enough money to retire in their 30s or 40s. ..."

Reference: www.cnbc.com
retiring early

Don’t Get Surprised by Taxes in Retirement Published: December 6, 2021

Title: Don’t Get Surprised by Taxes in Retirement Published: December 6, 2021

Article Snip: "...The taxation of retirement income is somewhat different than the taxation of income derived from working. These changes are primarily due to how taxes are withheld on retirement income. Not only will we look at the taxation of TSP income, we’ll also take a look at how your federal annuity and Social Security are taxed. ..."

Reference: www.fedweek.com

Unusual PostalEase Activity Triggers Precautionary Measures

Title: Unusual PostalEase Activity Triggers Precautionary Measures

Article Snip: "...The NPMHU was advised that CISO and Postal Service management investigated and took precautionary measures to prevent further activity as soon as it became aware of the unusual log-in issue. CISO monitors daily for suspicious activity to protect employee accounts and information. The USPS will contact affected employees directly. Impacted employees will receive the following message from the USPS: Your PostalEase account has been placed in a hold status, pending a password reset. To initiate a password reset, you will need contact 1-877-477-3273, Option 5. ..."

Reference: www.npmhu.org

Should I Take Medicare or Just Keep FEHB?

Title: Should I Take Medicare or Just Keep FEHB?

Article Snip: "Are federal employees better off with Medicare or FEHB in retirement? These are some considerations..."

Reference: www.fedsmith.com

Social Security Announces 5.9 Percent Benefit Increase for 2022

Title: Social Security Announces 5.9 Percent Benefit Increase for 2022

Article Snip: "...The 5.9 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 64 million Social Security beneficiaries in January 2022..."

Reference: www.ssa.gov

When Do I Begin Receiving the FERS Annuity Supplement?

Title: When Do I Begin Receiving the FERS Annuity Supplement?

I just received my first interim FERS payment. When can I expect to begin receiving the supplement?

Article Snip: "...so when will I see the supplement? You will only begin receiving the Annuity Supplement when your..."

Reference: www.fedsmith.com
FERS Annuity Supplement

Four Rules for Picking a Retirement Date

Title: Four Rules for Picking a Retirement Date

Article Snip: "...there are some rules for picking a date that are handy to know. Rule No. 1: Look at the..."

Reference: www.govexec.com
Picking a Retirement Date

How COVID-19 Has Impacted Retirement Savings

Title: How COVID-19 Has Impacted Retirement Savings

Article Snip: "...About one-third of Americans who planned to retire say it will now happen later because of the pandemic, CNBC reported last week, citing a study from Age Wave and Edward Jones. Roughly 14 million stopped contributing to their monthly retirement accounts, with many struggling Americans needing to use that money for essentials instead. The situation has gotten even murkier in recent months..."

Reference: yahoo.com

Life Insurance Premiums Are Changing

Title: Life Insurance Premiums Are Changing

Article Snip: "...Rates are going up for Basic, and in some cases for the optional forms of insurance too. In other cases, they’re staying the same or being reduced. These changes reflect updated mortality and claims rates in each FEGLI category. The legislative structure of FEGLI assumes that premium rates are set for each age band independently of the other bands so that each band is financially self-supporting. The government pays one third of the premium cost for Basic and the employee pays two thirds. The employee or retiree pays the full cost of optional insurance..."

Reference: www.govexec.com

The Benefits of Serving Your Country Working for Uncle Sam

Title: The Benefits of Serving Your Country Working for Uncle Sam

Article Snip: "...Want to make sure retirement treats you well? Work for Uncle Sam, and those golden years could have a little added shine. Not only are federal retirement benefits portable, but being the largest employer provides the government excellent leverage in securing benefits for its employees. Take the example of..."

Title: The Benefits of Serving Your Country Working for Uncle Sam
Reference: www.military.com

How COLA affects Social Security benefits

SSA increases your benefit beginning with the year you reach 62

Title: How COLA affects Social Security benefits

Article Snip: "...“You are eligible for annual cost-of-living benefits increases starting with the year you turn 62,” according to the Social Security Administration publication Your Retirement Benefit: How It’s Figured. “This is true even if you don’t file for benefits until your full retirement age or even age 70.” SSA increases your benefit beginning with the year you reach 62, and benefits are increased yearly to reflect the increase..."

Reference: www.investmentnews.com

The SSA Has an Online Portal for Social Security — Here’s Why You Should Use It

Title: The SSA Has an Online Portal for Social Security — Here’s Why You Should Use It

Article Snip: "...The Social Security Administration”my Social Security” portal allows you to apply for and manage all of your Social Security benefits online..."

Reference: yahoo.com

Government to pilot online retirement application

Title: Government to pilot online retirement application

Article Snip: "...Office of Personnel Management Director Kiran Ahuja told reporters on an Aug. 4 call that the agency will pilot an online retirement application system to address some short-term problems with the federal retirement system, namely slow processing times..."

Reference: www.armytimes.com

Veterns can get special extra earnings for Social Security: Are you getting yours?

NOTE: Most veterans claim the amount only adds about six dollars per month. But you need to make sure you are getting this added benefit

Title: Veterns can get special extra earnings for Social Security: Are you getting yours?

Article Snip: "...Social Security doesn't add these extra earnings to your record until you file for benefits. Here's How It Works The information that follows applies only to active duty military service earnings from 1940 through 2001. This program adds to your overall income factor and may have little effect on your actual monthly Social Security benefit, because the increased earnings do not automatically mean an equal increase in monthly benefits. Here's how the special extra earnings are credited..."

Reference: www.military.com
Veterans and Social Security, Veterans Special EXTRA earnings for Social Security,

Veterans Who Join the Civil Service Are Eligible for Valuable Service Credits

Title: Veterans Who Join the Civil Service Are Eligible for Valuable Service Credits

Article Snip: "...Let's take a look at how you can apply your military service toward FERS, see how the military service credit buyback program works, and discuss why this makes sense for many veterans..."

Reference: www.military.com
Veterans and FERS, CSRS and Veterans,

How much does Social Security increase each year after 62?

Title: How much does Social Security increase each year after 62?

Article Snip: "...If you claim Social Security at age 62, rather than wait until your full retirement age (FRA), you can expect up to a 30% reduction in monthly benefits. For every year you delay claiming Social Security past your FRA up to age 70, you get an 8% increase in your benefit..."

Reference: www.fidelity.com
How much does Social Security increase each year after 62?

What taxes can federal employees expect to pay after they retire from federal service?

Title: What taxes can federal employees expect to pay after they retire from federal service?

Article Snip: "...The only taxes that do not follow federal employees into retirement are payroll taxes. Payroll taxes are taxes you pay out of earnings in order to fund future benefits. Social Security tax (6.2%) and Medicare tax (1.45%) are only taken out of gross wages and net self-employment income (with a few exceptions, most notably for farmers). In addition, a retiree will not be making contributions for their pension. FERS pension contributions are 0.8%..."

Reference: www.fedsmith.com
What taxes can federal employees expect to pay after they retire from federal service?

Avoiding A Tax Bite When Receiving A Pension Distribution

Title: Avoiding A Tax Bite When Receiving A Pension Distribution

Article Snip: "...Employers of most pension plans are required to withhold a mandatory 20% of your lump sum retirement distribution when you leave their company. However, you can avoid this tax hit if you make a direct rollover of those funds to an IRA rollover account or another similar qualified plan. Failure to rollover the entire amount of your lump sum distribution may result in your paying unnecessary taxes on all or a portion of your retirement payout. The 20% withheld from your lump sum retirement distribution is a federal income tax prepayment similar to the federal income taxes withheld from your pay check..."

Reference: benefitslink.com

Qualified Longevity Annuity Contract (QLAC)

Title: Qualified Longevity Annuity Contract (QLAC)

Article Snip: "... What Is a Qualified Longevity Annuity Contract (QLAC)? A qualified longevity annuity contract (QLAC) is a type of deferred annuity funded with an investment from a qualified retirement plan or an individual retirement account (IRA)..."

Reference: www.investopedia.com
Qualified Longevity Annuity Contract (QLAC)

Provisional Income and Calculating Taxable Social Security Benefits

Title: Social Security and Taxes

Article Snip: "...Most retirees do not have to pay federal income taxes on their Social Security benefits, but for those who receive substantial income in addition to Social Security, up to 85 percent of the benefits may be taxable. According to the Social Security Administration, about one third of benefit recipients pay federal taxes on their Social Security benefits. The Social Security benefits may become taxable when retirees’ “provisional income” exceeds certain limits...combined income is greater than $44,000, then up to 85 percent of your benefit may be taxable...U.S. citizens who live in Canada and certain other countries (Egypt, Germany, Ireland, Israel, Italy, Romania or the United Kingdom) are exempt from U.S. tax on Social Security benefits regardless of their income. A lump sum death benefit is not subject to tax either..."

Reference: www.aarp.org
Provisional Income,Calculating Taxable Social Security Benefits, tax

Is a retirement pension considered income?

Title: Is a retirement pension considered income?

Article Snip: "...Pension payments, annuities, and the interest or dividends from your savings and investments are not earnings for Social Security purposes. You may need to pay income tax, but you do not pay Social Security taxes..."

Reference:
Pension Payments,social security,earned income,Taxes in Retirement,

What Is the Savers Credit?

Title: What Is the Savers Credit?

Article Snip: "...Depending on your adjusted gross income and tax filing status, you can claim the credit for 50%, 20% or 10% of the first $2,000 you contribute during the year to a retirement account. Therefore, the maximum credit amounts that can be claimed are $1,000, $400 or $200..."

Reference: intuit.com
Savers Credit

Retirement claims backlog continues to rise, exceeding January’s 8-year record

Title: Retirement claims backlog continues to rise, exceeding January’s 8-year record

Article Snip: "...Lackluster processing numbers and longer average processing times in the second half of 2020 helped set the stage for this loss of ground in early 2021. OPM said its “steady state” inventory of retirement claims is 13,000. Processing times rose significantly during the early months of COVID-19, and still haven’t returned to their pre-pandemic lows..."

Reference: federalnewsnetwork.com
OPM Retirement Processing,

How Unpaid Leave Impacts Your Benefits

Title: How Unpaid Leave Impacts Your Benefits

Article Snip: "...You won’t earn any annual or sick leave for a pay period in which you reach a total of 80 hours of LWOP. However, you will earn annual and sick leave during the following pay periods until you once more accumulate 80 hours of LWOP. Then your ability to earn sick or annual leave will end. If you are a part-time employee, the amount of leave you earn will be proportionately less..."

Reference: www.fedweek.com
How Unpaid Leave Impacts Your Benefits,Retirement benefits and LWOP, Retirement,

How to Navigate Taxation When Retiring From Your Government Job

Title: How to Navigate Taxation When Retiring From Your Government Job

Article Snip: "...High-three average salaries are used for the first basic annuity when considering retirement. If you are under the age of 62 at the time of retirement, you will get 1% of your high-3 average salary. If you’re older than 62 or have more than 20 years of service, you will get 1.1% of your high-3 average salary. There are exceptions to these general guidelines. For example..."

Reference: www.kake.com

Nalcrest Florida and The Former Fedhaven Florida (Retirment Communities for Feds and Postals)

Title: Nalcrest Florida and The Former Fedhaven Florida

Article Snip: "...All residents of this community have to be retired members of the National Association of Letter Carriers. A funny thing about NALCREST is that mail is not delivered to individual apartments; residents have to walk to the local post office to get their mail. Nearby Lakeshore was called FEDHAVEN for most of the years since it was built. It is about one mile east of NALCREST and was developed as a retirement community for retired federal employees..."

Reference: www.florida-backroads-travel.com
Nalcrest Florida, Fedhaven Florida, Postal Retirement Community, Federal Employee Retirement Community,

Lessons Learned Growing a TSP Balance Beyond $1M

Title: Lessons Learned Growing a TSP Balance Beyond $1M

Article Snip: "...FERS retiree and one of those TSP investors who have accumulated at least $1,000,000 in their TSP account while working as a federal civilian employee. In his article published February 28, 2020 in FEDweek (Becoming a TSP Millionaire: Don’t Try to Time the Market) Dallen Haws noted that “becoming a TSP millionaire is simple” and that at the end of 2019 there were nearly 50,000 federal employees with at least $1,000,000 in their TSP. I’d like to share with you..."

Reference: www.fedweek.com
TSP Millionaire Tips

5 Benefits of Serving in the Civil Service After Your Military Career

Title: 5 Benefits of Serving in the Civil Service After Your Military Career

Article Snip: "...Joining the federal civil service is a great way to continue serving your country while earning a respectable living and valuable retirement benefits. And if you formerly served on active duty, your military service can provide you with additional benefits..."

Reference: www.military.com

Pandemic prompts some feds to delay or reconsider retirement plans

Title: Pandemic prompts some feds to delay or reconsider retirement plans

Article Snip: "...A total of 92,008 federal employees retired in 2020, the fewest in nearly 10 years, according to a Federal News Network analysis of monthly data from the Office of Personnel Management. By contrast, OPM processed 101,580 retirements in 2019 and 107,612 in 2018..."

Reference: