Earlier in 2024, the Thrift Savings Plan updated its rules for in-service withdrawals. Ed Zurndorfer outlines the updated rules for TSP participants who make age-based (age 59.5) withdrawals more... The post TSP Updates In-service Age 59.5 Withdrawal Rules appeared first on www.myfederalretirement.com ..read more

The Office of Personnel Management has new tools to reduce the number of ineligible enrollments in the Federal Employees Health Benefits program more... The post OPM Announces Crack Down on Ineligible FEHB Enrollees appeared first on www.myfederalretirement.com ..read more

Chris Kowalik outlines how (and when) you can withdraw from your Thrift Savings Plan funds, the limitations on withdrawal options in retirement, and the tax consequences to expect in retirement — both good and bad more... The post TSP Withdrawal Options appeared first on www.myfederalretirement.com ..read more

Delays in receiving your first full FERS or CSRS annuity check can be 3-10 months. Ed Zurndorfer, provides a checklist of how to expedite your retirement application -- plus practical tips on how soon-to-retire employees should prepare for a possible cash flow problem during the early months of retirement more... The post How to Deal With OPM’s Delay in Retirement Application Processing appeared first on www.myfederalretirement.com ..read more

71% of respondents say that an increase in household costs are exceeding the 3.2% COLA they received this year more... The post Survey of Seniors Indicates Recent Cost-of-Living Adjustment (COLA) is Not Enough appeared first on www.myfederalretirement.com ..read more

Ed Zurndorfer explains why any non-spouse beneficiary (with some exceptions) of a traditional IRA whose owner died after December 31, 2019, and who must withdraw the entire inherited traditional IRA within 10 years of the death of the traditional IRA owner, does not have to withdraw any inherited IRA funds during 2024 more... The post IRA Beneficiaries Get More Time to Make Traditional IRA RMDs appeared first on www.myfederalretirement.com ..read more

Ed Zurndorfer discusses Social Security widow/widower benefits including when and how a surviving spouse can receive a survivor benefit and how these benefits can assist the surviving spouse meet financial needs more... The post Understanding Social Security Widow/Widower Benefits appeared first on www.myfederalretirement.com ..read more

In addition to retirement income, Social Security can also serve as a lifeline for children when one or both of a child’s parents retires, becomes disabled, or dies. Ed Zurndorfer discusses children’s Social Security benefits including which children are eligible, when these benefits are reduced and stop, and how parents can apply for them more... The post Social Security and Children’s Benefits appeared first on www.myfederalretirement.com ..read more

Ed Zurndorfer discusses how the Social Security earnings test affects individuals between age 62 and their full retirement age who are receiving their Social Security retirement benefits and who also have earned income. Practical examples are included more... The post How Social Security’s Earnings Test Can Affect Your Retirement Benefits appeared first on www.myfederalretirement.com ..read more

Some federal employees may have made contributions to their Roth IRAs when in fact they were not eligible to make these contributions. They therefore must recharacterize their Roth IRA contributions. Ed Zurndorfer discusses how to do it more... The post Recharacterization of Roth IRA Contributions appeared first on www.myfederalretirement.com ..read more