The reality of FERS, not much money at all, may be less than SS (if its still around). I will continue to dump the max into TSP, move to a state that doesn't tax retirement, and make sure I have some rental income.
If you work a bunch of overtime in your last high 3 years, does the overtime count towards your pension? I believe it doesn't, but I have to ask anyways.
Do you have to work the full year to calculate your high three for example if you get a pay increase 3 months before you retire can you calculate that pay raise in your high three
Yeah it is not that great when you think about. I have done the math. Over 20 yrs the multiplier is .011 instead of .01. I am sure you know that. By the times it's taxed, its depressing.
Thank you! I've been searching for EXACTLY THIS! Everyone complicates it and I just want the basics. Perfect!
If you’re 62 or older with 20 or more years of service you get 1.1 percent of your high-3 average salary
If you have 20 or more years, you can retire anytime after you turn 60. Anything 20 years and beyond you get 1.1%.
Can you do a video about your TSP and Fixed Index Annuuty. Should you rollover or transfer your TSP to this Annuity the ros and cons.
Feel free to submit your question here: app.hawsfederaladvisors.com/question-submission
The reality of FERS, not much money at all, may be less than SS (if its still around). I will continue to dump the max into TSP, move to a state that doesn't tax retirement, and make sure I have some rental income.
Pretty much, sounds like you will be getting peanuts and if they bring this cbcd into play, everyone will be screwed, if we allow it.
What is the calculation for full retirement for Federal employees? Is the multiplier at 67 years old different than 62?
It’s 1.7% for law enforcement and other specified categories.
Hi, I will start my new Federal Job in 2023, Please advise regarding Retirement/Pension?
If you work a bunch of overtime in your last high 3 years, does the overtime count towards your pension? I believe it doesn't, but I have to ask anyways.
No
Do you have to work the full year to calculate your high three for example if you get a pay increase 3 months before you retire can you calculate that pay raise in your high three
Feel free to submit your question here: app.hawsfederaladvisors.com/question-submission
This is where we get topics for future videos.
Is the cost of Survivor Benefits adjusted each year after COLA is applied?
Feel free to submit your question here: app.hawsfederaladvisors.com/question-submission
This is where we get topics for future videos.
Base salary or salary with locality
with locality according to what I read on the OPM website.
Yeah it is not that great when you think about. I have done the math. Over 20 yrs the multiplier is .011 instead of .01. I am sure you know that. By the times it's taxed, its depressing.
Or you could request an official estimate from OPM (throw the one the comes yearly from the NFC in the garbage)...
Does age matter?
You mean someone works for 20 yrs making 100k and is supposed to retire on 20k, when they work and make 100k. This is why people can't retire.
I thought Air trafffic controllers get 1.7