FERS Pension Explained: Key Retirement Options and Benefits for Federal Employees

Описание: Are you a federal employee planning for retirement but feeling overwhelmed by your options? In this episode, Michael, Ben, Tommy, and John break down the Federal Employee Retirement System (FERS), explaining key retirement benefits and strategies to maximize your pension. From the differences between immediate retirements to the role of sick leave and survivor benefits, this episode covers what you need to know.

Listen in to learn about the value of accountability partners, survivor benefit options, and why your FERS pension might just make you a secret millionaire. You'll hear practical advice to help you retire confidently and comfortably.

Access the full transcript: https://www.masonllc.net/blog.htm
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Resources

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Benefits Administration Letter
• https://www.opm.gov/retirement-center...
•Year 2018: 18-103

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What you will learn:

• How you could be a secret millionaire. (3:20)
• The importance of having an accountability partner. (5:00)
• The calculation for FERS. (7:00)
• How to use sick leave toward retirement. (11:00)
• The three types of immediate unreduced retirement. (17:50)
• How the Survivor Benefit Plan impacts FERS. (20:15)
• The three options you have for survivor benefits. (26:15)
• Why your FERS pension is one of your largest assets. (30:05)
• What you need to know about health insurance and benefits. (36:00)
• Why it is never too late to start. (43:10)

Ideas worth sharing:

• “Don’t think you missed the gravy train if you missed the CSRS version of Federal retirement.” - Mason & Associates
• “If we use our annual and our sick leave correctly throughout our career, maybe we work for 35 years instead of 30. But that’s a much bigger impact than storing it, being miserable, hurting every day, and burning out. That could make a big difference in the length of your career.” - Mason & Associates
• “When you have survivor benefits, you behave differently. We know our spouse is taken care of, we know our children are taken care of. We make decisions because we have survivor benefits. We’re not in defense mode when we have these benefits.” - Mason & Associates

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