Fed Pilot Podcast

Fed Pilot Podcast

di Kevin Jones

Using Overtime in your High3

Kevin discusses the topic of overtime and its impact on the high three calculation for pensions in the federal government. He explains that, in most cases, overtime does not count towards the high three, even if it is part of the job description or requirement.

What the SRS does after 62

Kevin addresses a question about the SRS (Special Retirement Supplement) and clarifies its impact.

Turning FERS into Gold

Kevin addresses a question about whether it is possible to take money from a retirement program (referred to as "furs") and use it to invest in physical gold for diversification.

Retirement Rumors (and how to deal with them)

Kevin emphasizes the importance of having a group of people to discuss retirement planning with, as it allows for the exchange of ideas and the opportunity to ask questions.

FEHB for family members

Kevin discusses the continuation of health benefits for family members after retirement. He explain that if a retiree's family members are already on their FEHP plan, such as a spouse or children, they will continue to have it as long as the retiree is alive. He emphasizes the benefits of this program, including the fact that the rates stay the same and the plan is flexible to suit the retiree's needs and those of their family.

When the Earnings Test applies and when it doesn't

Kevin encourages individuals to attend their workshop to learn more about the earnings test and why it is important to seek professional help. The goal is to ensure that individuals receive all the benefits they are entitled to while avoiding any costly mistakes. Overall, he emphasizes the need to understand the earnings test and how it applies to different types of income to maximize retirement benefits.

Why You Don't Want to Get Rules Confused

The main takeaway from this transcript is the importance of understanding retirement planning and the potential for confusion. He emphasizes the need to differentiate between different retirement plans and ages to properly plan for retirement. They suggest attending their workshops to gain a better understanding and avoid making mistakes.

The Magical 59 1/2 for TSP

Kevin answers a question regarding the Thrift Savings Plan (TSP). The question asks if someone who is about to retire, but hasn't yet, can do anything extra with their TSP.

TSP Transaction Fees

Kevin discuss the different investment options available to federal employees, including the TSP, GFC SNI funds, and $5,000 mutual funds. He explain that while there are fees associated with all of these options, the GFC SNI funds do not have transaction fees, whereas the $5,000 mutual funds do. Speaker 1 emphasizes the importance of being aware of fees and considering them when making investment decisions, but also notes that higher fees may be associated with better quality investments.

Misconceptions about Early Outs

Kevin discuss recounts an experience where a man took an early out, expecting certain benefits that were not included in the package. He went through the benefits with him, the man began to realize that the early out was not as good of a deal as he wanted. While some individuals may still choose to take an early out, it is important to understand the implications and impact of the decision before doing so.

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