Description:
Improve your retirement outlook by obtaining important information now. Prepare a retirement readiness index and a financial plan. Learn how to optimize the contributions to your tax-deferred Thrift Savings Plan (TSP) retirement savings and investment account, and also your Federal Employees Retirement System (FERS) defined benefit, contributory retirement account. Learn how Social Security benefits are calculated, and how your health and life insurance benefits carry over into retirement.
Duration:
2 days
Level:
Foundational
Who Should Attend?
Federal employees contributing to FERS who are interested in understanding the implications of benefits decisions made early in their careers
Credits:
1.2 CEUsLearning Outcomes:
- Provided during class.
Available Sessions:
| Session Code | Start Date | End Date | Location | Tuition | |
|---|---|---|---|---|---|
| Session Code BENE8120-001 | Start Date Jul 17, 2025 9:00 AM EST | End Date Jul 18, 2025 4:30 PM EST | Location Virtual | Tuition $679.00 | |
| Session Code BENE8120-002 | Start Date Sep 11, 2025 9:00 AM EST | End Date Sep 12, 2025 4:30 PM EST | Location Virtual | Tuition $679.00 |
Introduction to Federal Benefits
- Course and student objectives
- Overview of course content
- Definitions of retirement benefits terms
- Retirement questions
Retirement Eligibility
- Retirement eligibility under FERS
- Establishing your a minimum Retirement Age
- Determining the best time to retire
- Eligibility considerations for special employee categories
Determining How Your Benefits is Computed
- Computing creditable service
- Components of the average salary
- FERS basic annuity computations
- Components of special employee categories
- Parameters for reductions to annuities
- How 'Cost of Living Adjustments' impact annuities
Disability Benefits Under FERS
- Disability Eligibility Requirements for FERS
- Disability Annuity Computations under FERS
- Social Security disability benefits
Survivor Benefits of Deceased Employees and Retirees
- Survivor benefits of deceased federal employees
- Death after separation from federal service
- Insurable interest eligibility
- Court awarded survivor annuities
- Selecting survivor benefits
- Parameters for children's survivor benefits
Thrift Savings Plan
- TSP participation requirements
- Meeting your retirement financial needs
- TSP and FERS
- TSP investment fund options
- Withdrawal and transfer options of TSP funds
- Estimating a TSP account balance
Social Security/Medicare Benefits
- Key terms and definitions of the Social Security program
- Social Security eligibility requirements
- Calculating Social Security benefits using PIA and AIME
- Windfall Elimination Provision (WEP) and Government Pension Offset (GPO)
- Eligibility requirements for Medicare
Health and Life Insurance Benefits (FEHB/FEGLI):
- Eligibility considerations for the FEGLI
- FEGLI continuation coverage options
- Order of Precedence for FEGLI benefits
- Post-retirement coverage under the FEHB
- FEHB and Medicare
- Long Term Care Insurance
- Flexible Spending Accounts (FSA)
Planning for Retirement:
- Retirement Application Process
- Steps to prepare for retirement
- Identify forms used in the application process
