A news and educational resource pooling excerpts from various news and information sources from the web for the Federal Retiree.
Article Excerpt: "...Social Security taxes are based on what's known as your provisional income -- your adjusted gross income (including pension payouts and retirement-account withdrawals but not counting Social Security benefits)..."
Article Excerpt: "...future retirement benefits of the vast majority of feds who are under the Federal Employees Retirement System (FERS). Unlike the earlier Civil Service Retirement System (CSRS), which gives retirees full inflation protection for life, FERS has a diet cost of living adjustment (COLA) feature that over periods when inflation is 2% or higher can and will dramatically reduce their benefits, even as living costs rise dramatically..."
Article Excerpt: "...You might have read the common rule of thumb is that you should have “80% of your pre-retirement income in retirement to maintain the same lifestyle”. How much money should you really have, and how does this “rule” pertain to federal employees? The “80% rule” is what many financial professionals ..."
Article Excerpt: "...There are two application forms for immediate retirement. You’ll find the one for CSRS employees at www.opm.gov/forms/pdf_fill/sf2801.pdf and the one for FERS employees at www.opm.gov/forms/pdf_fill/sf3107.pdf. While the explication and direction for the CSRS one takes up 11 pages, the one for FERS takes only four. Both do a pretty good job of leading you through the boxes but I thought it might be useful to walk you through the forms and highlight what you’ll need to have at hand when you do fill one out..."