Leaving an IRA to a Trust
Leaving your IRA outright to one or more individuals is simple but may not be prudent. If you leave the …More
Retirement & Financial Planning Report
Sign up Now! Free eNewslettersAgency Errors Causing Tax Problems for Many Federal Retirees, Says Audit
Some benefits statements on federal retirees that federal agencies submit to the IRS contain missing or inaccurate Social Security numbers …More
Improving Prospects for Getting a Disability Retirement Application Approved
Applying for federal disability retirement is for many people a daunting task that might discourage eligible persons. There are several …More
Matching Insurance Products to Your Investment Style
If you’re interested in cash value life insurance, you should know that whole life and universal life insurance are designed …More
Eligibility Conditions for Buyouts
The purpose of a voluntary separation incentive payment, also known as a buyout, is to avoid involuntary separations resulting from …More
Reasons to Start Drawing Social Security Earlier
You can start to receive Social Security any time between the ages of 62 and 70. For each year you …More
Keep COLA Prorating Policy in Mind
With the January 2019 COLA for retirees likely exceeding the pay raise for active employees, some employees eligible for retirement …More
Special Rules Apply to Federal Benefits in Divorces
As governmental plans, CSRS and FERS are not subject to the Employee Retirement Income Security Act (ERISA), which governs many …More
Federal Employees Waiting until Later to Retire
The average retirement age for federal employees is continuing to rise, hitting an average of 61.8 in the 2017 fiscal …More
Inherited IRAs Need Careful Handling
If you inherit an IRA, for maximum tax deferral, you should: * Check that the beneficiary forms and related paperwork …More
The Return of the Medicare Advantage “Open Enrollment Period”
The Medicare Advantage Open Enrollment Period was discontinued in 2010. Now, in 2019 the OEP is making a return. From …More
SSA Compassionate Allowances Program Expanded
The Social Security Administration has expanded the scope of its compassionate allowances program, a fast-track toward approval of disability claims. …More
Protecting Your FLTCIP Benefits from Inflation
If you’re thinking of enrolling in the Federal Long Term Care Insurance Program—which many employees not currently enrolled consider as …More
Owning Assets as ‘Joint Tenants’
For certain assets, you might want to hold title as “joint tenants with right of survivorship (JTWROS).” That gives the …More
Financing Retirement No Simple Task, Says Report
The shift from defined benefit to defined contribution plans has created opportunities but also responsibilities for financing retirement that have …More
Taking an In-Service TSP Withdrawal without a Tax Penalty
Age 59 ½ is significant in tax-advantaged savings plans such as the Thrift Savings Plan because under the tax code, …More
Trusts for Just-in-Case Situations
Revocable living trusts are increasingly popular. In most revocable trusts, you (the trust creator) are also the trustee and the …More
Some Relief May Be Ahead from Minimum Distribution Rule
A recent executive order may provide some relief for TSP investors—as well as investors in other tax-favored retirement savings plans—from …More
Some FEHB Changes Are Allowed Outside of Open Seasons
The annual open season — this year, November 12-December 10—is when most enrollment changes in the Federal Employees Health Benefits …More
Driving Down Auto Insurance Costs
To cut auto insurance costs, look into buying it from the same company that provides your homeowner’s insurance and/or other …More
Annuities That Come with a Guarantee
So-called “living benefits” can pay off for variable annuity purchasers during their lifetime, in contrast to the death benefits that …More
Student Loan Debt Hampering Retirement Savings
The shares of households with student loan debt and the average amounts owed have continued to rise in recent years, …More
How to Contest Denied Claims in Federal Benefits Programs
Each of the federal insurance programs has procedures for challenging the denial of a claim. Federal Employees Health Benefits Program …More
Specifying Payouts to a Trust’s Beneficiary
If you include a trust in your estate plan, the trust document should spell out how the trustee will distribute …More
SSA Warns of Scam Phone Calls
The Social Security Administration and its inspector general’s office have issued a new warning about scam phone calls purporting to …More
Child Eligibility Varies by Benefit Type
Children’s eligibility for certain benefits changes vary by type of benefit. Under the Federal Employees Health Benefits program, a child …More
Recession Still Affecting Retirement Confidence
Nearly 10 years after the low point of the Great Recession, the downturn is still affecting retirement confidence, with only …More
What You Pay to Provide a Survivor Annuity
While it may be tempting to turn down the offer of a survivor annuity and either invest the extra money …More
Estate Planning from A to B
Many estate tax plans use an “A-B” trust structure: * The A trust may be called a marital trust. The …More
Many Retirees Don’t Follow Asset Drawdown Strategy, Says Report
Drawing down assets on a regular schedule after retirement is a standard premise of retirement planning but in practice, “many …More
