Three retirement decisions you only get to make once. Let's make sure you get them right.
Your pension, TSP and survivor elections each deserve a closer look before you build your retirement around them.
Your FERS pension depends on your high-3 salary, your years of service, your age at retirement and the elections you make. Unused sick leave adds service time, and retiring at 62 or later with 20 years raises your multiplier from 1% to 1.1%. A small error or a missed rule can cost you every month for the rest of your life, so check the number before you build a retirement around it.
You can leave money in the TSP, take installments, make partial withdrawals or buy a life annuity. Some of those choices stay flexible. A TSP life annuity can't be undone once you buy it. Most people make this decision once, with no practice run.
A full FERS survivor annuity costs 10% of your pension and pays your spouse 50% of it for life. It can also decide whether your spouse keeps FEHB health coverage. Add the 5-year FEHB rule and rising FEGLI costs, and these choices deserve a careful look before you sign anything.
30 minutes | Free | No obligation
These decisions still matter after you retire. TSP withdrawals, beneficiary designations and survivor coverage are all worth a second look.
Federal employees and federal retirees in Missouri, whether you're 10 years out or already retired.
Nothing. It's 30 minutes, with no obligation.
No. I'm an independent financial professional. I'm not affiliated with OPM, the TSP or any federal agency.
We meet by video or phone, so it works wherever you are in Missouri.
Your latest Leave and Earnings Statement, your TSP statement and any annuity estimate from your agency, if you have them.
LUTCF | LACP | FERSC
John C. Gross III works with business owners, families and federal employees on the planning decisions that are hard to undo. He holds the FERSC certification in federal retirement benefits, along with the LUTCF and LACP designations, and is a member of the Estate Planning Council of St. Louis.
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Whether you're approaching retirement or already retired, start with a complimentary federal benefits review.
Book your free 30-minute reviewJohn C. Gross III is an independent financial professional and is not affiliated with OPM, the TSP or any federal agency.
Helping business owners, families, and individuals clarify priorities and coordinate professional teams for estate planning, business transitions, and financial decisions.
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