FERS Retirement with 10% Bonus: Higher Pension for Age 62 & 20 Years

Title: FERS Retirement with 10% Bonus: Higher Pension for Age 62 & 20 Years

Article Snip: "...if you retire at age 62 or older with 20 or more years of creditable service, your pension multiplier is 1.1% [instead of 1%]...In order to get the bonus, you must be at least 62 years old at retirement with at least 20 years of creditable service. You must also be going out on an immediate FERS Retirement...For more details about the bonus, you can check out Chapter 50 of OPM's CSRS / FERS Handbook This bonus is mentioned in Section 50B3.1-1 Subsection B..."

Reference: plan-your-federal-retirement.com

10 states with the highest average Social Security retirement benefit

Title: 10 states with the highest average Social Security retirement benefit

Article Snip: "...the only three states with an average retirement benefit in excess of $1,500 a month. The average New Jersey retiree is taking home $1,725 extra per year over the national average, and just over $2,900 more a year than the average retired worker in Louisiana, which ranked dead last among the 50 states ($1,311.72 a month). This is probably why retirement benefits are higher in these states..."

Reference: www.usatoday.com

As of March 2018, SSA data shows that the average retirement benefit was $1,409.91 a month, or about $16,919 a year.

Average Retirement Debt

Title: Average Retirement Debt

Article Snip: "...According to the survey, 8 in 10 middle-income Boomers currently have some debt. Three in 10 devote more than 40% of their monthly income to debt and a quarter have a mortgage with more than 20 years remaining on it. More than half say they intend to enter retirement debt free, but only one-quarter of retired Boomers actually are debt free..."

Reference: www.newretirement.com
Retirement Debt, Retirement,

See how your retirement savings compares to other workers earning a similar salary

Title: See how your retirement savings compares to other workers earning a similar salary

Article Snip: "...Employees earning between $40,000 and $60,000 are likely to have a little more room in their budget to save for retirement. The median 401(k) balance ranges from $16,502 among 20-somethings to $113,504 for workers in their 50s, according to the EBRI analysis. People in their 40s ($79,786) have saved a median of over twice as much as those in their 30s ($35,602). "A moderate earner now is likely in a lower tax bracket, so paying taxes on income and contributing to a Roth now makes sense..."

Reference: money.usnews.com
401k, Retirement,

Social Security 'is under attack'

Title: Social Security 'is under attack,' say these congressional Democrats

Article Snip: "...Cuts to Social Security are not a credible solution to pay for the $1.9 trillion that Congressional Republicans have recently added to the deficit in passing their tax legislation," Sen. Martin Heinrich of New Mexico, the committee's ranking Democrat, said in a statement to CNBC. "We must ensure that our seniors are able to retire with dignity..."

Reference: www.cnbc.com

Paul Ryan's decision to wait until January to retire includes an under-the-radar benefit

Title: Paul Ryan's decision to wait until January to retire includes an under-the-radar benefit

Article Snip: "...Ryan, 48, would be able to draw his pension at age 50, since his time as a representative and as a staffer would combine to be roughly 24 years of federal service...Based on the FERS payments formula, Ryan could receive an annual pension payment of $84,930 if he remains on the job until January..."

Reference: www.businessinsider.com

How Much is the Maximum Annuity Supplement?

Title: How Much is the Maximum Annuity Supplement?

Article Snip: "...the maximum annuity supplement for retirements in 2018 has been electronically computed for twelve levels of ages and years of service – see..."

Reference: www.fedsmith.com
FERS Annuity Supplement, Social Security special retirement supplement (SRS),