School is back in session. Learn about CSRS and FERS retirement benefits from Ed Zurndorfer.
Despite the threat currently posed by the delta variant of the COVID-19 virus, there are some things returning to normalcy still, such as a new football season and students going back to in-class schooling. For those with children, the start of school, depending on the age of the child or what grade they’re entering, can be an exciting season – especially for the youngsters jumping into Preschool or Kindergarten. It can also be thrilling for college freshmen leaving their parents’ nest for the first time. For other kids, returning to school is not always exactly a cause for celebration, but parents may feel otherwise.
Federal Employees, regardless of their parental status, can also partake in the back-to-school experience (albeit still virtually.) While the majority of the Federal workforce probably considers their scholastic endeavors finished, chances are that their knowledge of their own employment benefits is somewhat lacking. Virtual training sessions focused on teaching feds about their benefits are opportunities for them to get back in the classroom and closer to reaching financial goals, such as retirement.
The benefits offered to Federal workers are considered to be some of the best in the country, but this gets relatively offset by the compensation package’s ability to perplex even the most analytical minds. Even those who are inundated with Government lingo and code tend to get tripped up when combing a FERS or CSRS handbook. On top of complicated calculations involved with the federal pensions, there are other factors to consider regarding the health benefits (FEHB), group life insurance (FEGLI), and savings plan (TSP) – all of which are complex federal programs in their own right, in addition to Social Security and Medicare, too.
You can register here for Serving Those Who Serve’s Informative Webinars for Federal Employees – and regain some back-to-school spirit with Ed Zurndorfer as your trusty professor.
**Written by Benjamin Derge, Financial Planner. The information has been obtained from sources considered reliable but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Benjamin Derge and not necessarily those of RJFS or Raymond James. Links are being provided for information purposes only. Expressions of opinion are as of this date and are subject to change without notice. Raymond James is not affiliated with and does not endorse, authorize, or sponsor any of the listed websites or their respective sponsors.