A news and educational resource pooling excerpts from various news and information sources from the web for the Federal Retiree.
Article Excerpt: "...The number of FERS employees approaching retirement within the next 24 months is growing quickly. Many of them intend to implement the “Do it Yourself” (DIY) technique to retirement planning...."
Article Excerpt: "...age 62, the earliest claiming age. That’s a costly move. Benefits rise by 7% to 8% a year until maxing out at age 70—only 2% of workers wait that long to file..."
Article Excerpt: "...Who qualifies for Social Security, how big your Social Security checks can be, and other must-know Social Security rules..."
Article Excerpt: "... striking fact that wealthier people are living significantly longer than less wealthy people, and the gap appears to be widening..."
Article Excerpt: "...This calculator will show you the average number of additional years a person can expect to live, based only on the gender and date of birth you enter..."
Article Excerpt: "...the last day folks who qualify can take full advantage of the file-and-suspend Social Security claiming strategy. After April 29, 2016, file-and-suspend becomes a thing of the past. Why so? The Bipartisan Budget Act of 2015..."
Article Excerpt: "...The divorced spouse must have been married to the worker for at least 10 years in order to qualify. In addition, the divorced spouse must not be remarried. However, the requirement that the worker have filed for Social Security retirement benefits does not apply to divorced spouses as long as the worker is eligible to file for them and as long as the couple has been divorced for at least two years..."
Article Excerpt: "...Three special perks of working while collecting Social Security benefits Additionally, working while collecting benefits could have its perks, according to the SSA. First, benefits deducted prior to hitting your FRA because you've earned too much in the eyes of the SSA will actually boost your benefits once you surpass your FRA...."
Article Excerpt: "...My belief has been that Social Security, due to the new law, would tell him to get lost. But Alan thinks they would pay him all his suspended benefits in a lump sum, but only from the time he first filed for benefits — that is, they would give him back benefits from 66 and a half and not from age 66; they would not include benefits that were retroactive to before he first filed...."
Article Excerpt: "...Here's what you need to know about Social Security in 2016, whether you're about to retire, or are still decades away..."
Article Excerpt: "...After the rule change, spousal benefits will only be payable if the first person is actually receiving the benefit. Suspending will result in spousal benefits being suspended as well. - See more at: http://www.fedsmith.com/2015/12/14/modifying-a-social-security-filing-strategy-after-the-recent-rule-changes/#sthash.lyxMR9RK.dpuf..."
Article Excerpt: "...Another strategy that can be used to increase household income for retirees is to have one spouse file for spousal benefits first, then switch to his or her own higher retirement benefit later..."
Article Excerpt: "...succeeded in fending off numerous policy amendments that Republicans had sought to attach to the spending bill, including efforts to block environmental and labor rules...bill is even referred to as a Christmas tree bill because special interests get special presents... jeopardize retirement security, Medicare and Social Security, because those so-called entitlements are next up on the chopping block..."
Article Excerpt: "...“We advise soon-to-be retirees to have at least three months of savings on which to live while their claim is being processed,” National Active and Retired Federal Employees Association legislative director Jessica Klement said. NARFE also advises employees to prepare early and make sure their applications are complete and include all needed documentation, she said..."
Article Excerpt: "... when it comes to your own retirement-planning efforts, it really doesn’t much matter how men and women stack up against each other. What matters is what you do—specifically, whether you participate in a 401(k) or similar plan if one’s available; whether you save enough to give yourself a shot at building an adequate nest egg; and whether you invest your savings in a diversified portfolio with an emphasis on growth...."