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What about working class social e security?

Take your leave. Life is short.

In my 40 year career, I’ve seen plenty of non-performers who should be fired

Some of the folks today are too soft, I was a fed for 40 years, no such thing as work life balance, if there is a illness or some other unforeseen issue, that’s different

News flash: WEP and GPO increase your RIB.

You cannot donate sick leave, only annual leave.

I’ve been through a lot of seminars but no one touched on what you said about spouse dying first. Except video, I’m retired military, I didn’t get the survivor plan but that was because i’m also a federal employee. I will definitely be opting into full survivor plan at retirement . The benefit is too great. You earned a new subscriber.

My spouse just passed away right before I retire. Obvioisly I cannot elect survivor benefit now that I no longer have a spouse so say I find another mate and we get married say 10 or 15 years from now after I retire can I then elect to have survivor benefit for the new wife?

Really enjoyed this episode I continue to learn from you guys ! Needed that reminder that the VA funding fee is waived if + 10% disability rating. In process of buying new home. Happy Holidays guys you're always improving looking forward to 2025🎉

Great to know thank s for sharing my man.

Retirement is becoming increasingly challenging for many people. Low wages, inflation, and high rent costs make it difficult to save, and now, even middle-class Americans are struggling to buy homes-leaving them with fewer retirement options.

Great episode!! Thanks fellas!!

I have two years before mandatory retirement. When should I have that introductory consultation?

Do you have to have $1 million in investments to work with you?

What if you don't have a spouse or children?

Lisandro Plaza

Yayyyy I’M WINNING

In these podcasts, your team routinely uses examples of term life policies such as obtaining a 30 year policy at age 35 or a 20 year policy at age 45… What happens after those term policies expire? Is your team of the general consensus that life insurance is no longer needed after age 65?

I'm a Fed Employee with no survirors...so yes...I will do that.

Good evening. The TSP beneficiary is completely and totally separate from the FERS? And I would use my TSP account to designate benefit? Great information. I’m just learning the differences between all these benefit forms.

I am CSRS and retiring at the end of 2024. I am considering either 12/31/2024 or 1/3/2025. If I am understanding your example for CSRS, I could retire 1/3/25, get paid for the 1/1/2025 holiday; and my retirement is considered effective 1/1/2025, with my first interim retirement check starting effective 2/1/2025. Is that correct? Whether I retire 12/31 or 1/3, it is still in the middle of a pay period. Is there an argument for just going out on 12/31 instead of waiting until 1/3/2025? I'm just trying to maximize the best possible. I have not used a single hour of annual leave in 2024, and I have an abundance of excess sick leave to burn before the end of the year.

If you are both a military and Federal government retiree- can you participate in both agencies SBP? Will the spouse receive 55% of both pensions if both were paid into?

Is it true you can’t collect both a military and federal SBP if your spouse retires from both? Definitely don’t want to lose out on Federal SBP but military SBP almost paid in full and spouse is getting ready to retire from federal service. Can they be combined? Don’t want to lose what we paid into SBP but also sure the Federal plan would be higher. If he retires from both and has a SBP for both do you lose the premiums paid for the other?

Does this count for former spouses that are receiving retiree pay through DFAS?

Good Discussion.

Buy and use a better .microphone

Disagree. Like all things it is situational. If both spouses are feds with pensions and healthcare, and sizable TSPs, opting for survivor benefits isn’t very clever.

If you are receiving FERS supplement and you have an older spouse eligible to receive social security, would it result in a reduction in your benefit if she received her own social security? Thx!

I would like to make a small adjustment to your presentation. A FERS employee would be entitled to the FERS supplement with at least 30 years of service at their MRA (Minimum Retirement Age). You indicated "age 57" which isn't entirely accurate. I will have 35 years of service at my MRA of 56 years, 8 months in August 2025. In my case, I would be able to retire with an unreduced FERS pension as well as the FERS supplement. Thank you for your video.

Option B right now before retirement I have a multiple of 2. But now that I'm retiring on October 31st and I'm working on my retirement paperwork, what does the multiple do for me if I will be turning 65 on October 27 just before my retirement date and selecting Full Reduction at retirement and according to the chart it is free with a reduction of 2% until I turn 70 that the coverage of $425,000 turn to $0. Not sure what to select as number of No Reduction multiples. Please advise at your earlies convenience.

You found a topic that is difficult to navigate and not well understood and lacking almost any RUclips content. Thanks for the video. I’d love to see more content on the topic. From my experience if you talk to an insurance salesman they’ll definitely show the superiority of life insurance. However a guaranteed benefit is valuable and you explained that perspective of electing the full survivor benefit. Federal HR seminars seem to stay far away from this topic.

Thank you

I have been trying to deep dive into FEGLI-- everyone hates it but I don't see it as this horrible thing. I understand it is is expensive, but term life insurance eventually ends (it is a term) so after looking at numbers... it seems obvious to pick 75% reduction for basic/ standard because that is just expensive from the start and it doesn't reduce until 65 anyways so pay bare minimum premium then it goes free at 65 but it appears the 75% is only on the basic/ standard salary not the multipliers. (or I think) So at 65 while the option B increases every 5 years you still get 5x salary payout-- so you get your 75% in reduction of the 1st salary say 100,000 only but then 5x your salary so 1st salary may go to 25,500 after about four years but the option B will still pay $500,000 your family still gets a payout of 525,500 tax free payout as long as you keep paying monthly. I know you can find cheaper but usually need a medical exam, and in general all term life ends... fegli doesn't end unless you tell it too but then you just go the free route by then so will get something --- this is the first time hearing about full reduction becoming free-- so at 70 when it gets horrible I know it is bad before but somewhat affordable if you can budget, but as always after 65 you can just go the free route if you need the monthly budget. Anyways, retiring under special provisions means you retire way before 65, so just trying to figure the best strategy and not loose the benefit but yet not overpay because if you cancel fegli multiplier 5 you can't get it back same with spousal benefits.

What if you are divorced, swore on a stack of Bibles to NEVER remarry & negotiated OUT of Survivor benefits. in QDRO? Could you keep it and make a child(ren) beneficoaries?

Please Help....given several answers for this..If I leave post office at 54 with 32 years.Will I stiil be able to recieve Fers special supplement when I turn 57. Even though im not employed anymore thank you ..pleaae help!

great video

My husband was retired from USPS on 2019 after worked for 21 years and passed away on August 2023 (last year). Until now I’m still not receive survivor benefits from OPM. That’s bad !

If end of month is a Friday, how does that affect the end of pay period?

I forgot to mention that I learned that neither Traditional Medicare or Tricare for Life cover medical procedures overseas. Traveler's insurance is always recommended. Good to know.

Most of the episode covered Tricare For Life in coordination with Medicare, and that didn't help me in particular since I'm not a veteran. But there was still a lot of good general information related to Medicare Advantage that I was not familiar with. Also we were given some real world numbers about the income related monthly adjustment amounts (IRMAA). That was eye-opening for me. While I agree that there was some "identification of the hosts' business ventures" but I felt it was certainly NOT over the top. Especially when I consider how much this podcast educated me about a confusing topic that is NOT being explained very well anywhere else. I welcome the opportunity to have someone boil it down for me. Thank you very much to Mason LLC and Boomer Insurance!

This episode was very well done! I learned a lot about Medicare Part D (drug coverage). There are currently 24 Part D providers in Virginia, so it could take awhile to figure out which plan does better for the drugs you may be needing. And the list of providers and coverages seems to be changing every year. Conversely, FEHB is much more consistent year-to-year, but the premiums are are also more expensive each month. I learned what the Part D copay "donut" is all about. Just in time to hear my next door neighbor complaining about it; and I said "yeah, I know what you mean!" 5 stars to Mason LLC as well as to Boomer Insurance!

No spouse, no problem

This episode really clears up a lot of confusion about what Medicare Advantage means. How it's different from Medicare Part A and B and how much it costs. And most importantly for Federal retirees, how it different from the FEHB plan we already have access to in retirement. If I desire the most flexibility to see any doctor, at any hospital, anywhere in the country, then I want FEHB instead of Medicare Advantage.

Lets say I retire at 58 with 33 years of service. I check both boxes for an immediate FERS pension and FERS supplement. My spouse is the same age as me and would get 1/2 of my FERS annuity. I assume that she would NOT get anything from the FERS supplement. Is this correct?

I am confused. You talk about FEDERAL employees in NC being exempt through the Bailey settlement. I understand it is STATE employees that are exempt. I was a state employee from many year and I do not pay any NC state taxes because of Bailey.

Thanks for this info. I was recently awards 100% P&T and was considering canceling FEHB. I will suspend it. Do you know if I can suspend it at anytime or does it have to be during open season?

First, keep up the good work. I've listened to every podcast and enjoy it immensely. There was one thing in this episode that tickled my brain enough to feel the need to comment. I am absolutely still learning and do not have the breadth and depth of understanding that you do. Apologies in advance if I have something wrong in the following comment: I understand that you guys focus on the people and therefore the tax cuts of 2017 seem positive. Mike beat that stance many times. My issue was never what the tax cuts did for people, in the short term. It cut taxes for us from 2018 - 2025, which is awesome, but it also provided MASSIVE tax cuts for businesses and large corporations that were PERMANENT. People -> temporary, corporations -> permanent. It's almost like the intent of the tax code was to help corporations and politicians threw a temporary bone at us dogs to gloss over our eyes and keep us quiet. It also seemed to work.

I am retired FED and now getting the pension with 38 years when retired last June 30. I turn 62 in June 2024. The amount of money that you can make in a year is 20K. Is that pro rated since the FERS Supplement will end at the end of June? I will make about 6K sports reffing.

Sorry here is the question. During my time in military I contributed about $50,000 of "Tax-Exempt" contributions to my traditional TSP account (made while serving in a Tax Exempt combat zone). I recently learned the EARNINGS on these tax-exempt contributions are taxable upon withdraw. I also learned that the earnings and contributions are "mixed" together and cannot be separated. Apparently when I request a qualified distribution in the future, part will be taxable and part will be tax-exempt. I turned 59 & a half this past January 2024. I don't need to make any withdraws from these funds for a few more years at least. However, I would like to get the tax-exempt money rolled into my existing Roth IRA so it can grow completely tax free in the future. I would like to rollover the entire balance both tax-exempt contributions and taxable earnings, into my existing traditional IRA. Then immediately, have the tax-exempt portion converted into my existing Roth IRA. TSP Fact Sheet TSPFS5 (11/2023) says I should check with my IRA institution to ensure they accept Tax-Exempt rollovers. I contacted them (Vanguard) but so far have not been able to get a clear answer. I have not found any information on this subject in my online research and TSP representatives are not very knowledgeable on this topic either. Have you encountered this before and what do you advise? I am sure there are many thousands of former military personnel with a similar situation. By not converting those tax-exempt dollars into my Roth IRA, I am losing out on tax free earnings. I also just learned that Earnings on money converted to a Roth IRA cannot be withdrawn tax free until 5 years from the date of conversion regardless if you already had any Roth open for 5 years and are 59 and half or older. So time is of the essence if I am to convert this money into my Roth! Thanks for your help on this.