A news and educational resource pooling excerpts from various news and information sources from the web for the Federal Retiree.
Article Excerpt: "...Federal employees have several options with respect to what they can do with their TSP accounts after they retire from federal service..."
Article Excerpt: "...Workers and spouses covered by a worker’s current employment health plan also have a special enrollment period to sign up for Medicare after retirement. If you miss the initial or special periods, you’re left with an annual general enrollment period that runs from January through March. If you don’t sign up for Medicare Part B when you're first eligible, your monthly premium may go up 10% for each 12-month period you could've had the insurance but didn't sign up. In most cases, you'll have to pay this penalty each time you pay your premiums, for as long as you have Part B. And the penalty increases the longer you go without Part B coverage..."
Article Excerpt: "...The number of active and retired feds with $1 million or more in their Thrift Savings Plan accounts has jumped to a record 84,808 as of March 31 of this year. That’s up from 27,212 TSP millionaires in March 2020. The vast majority of TSP millionaires got there by investing steadily in the C, S and I funds — even when the markets tanked..."
Article Excerpt: "...reducing your tax bill can be a great way to stretch every dollar. One of the biggest factors that will determine your tax bill in retirement is where you live. There are significant tax differences depending on which state you retire in. States levy three main types of taxes: income tax, sales tax, and property tax. You will want to pay attention to all 3 before you make a decision on where to live..."