Federal Employee Financial Planning
For your free retirement analysis:
Who We Are
Federal Employee Retirement Planning is focused on the Federal Retirement needs of United States Federal Agencies and Uniformed Services.
Our objective is to provide the education federal employees need to make better informed decisions regarding their federal retirement benefits.
Federal Employee Retirement Planning accomplishes this by conducting seminars utilizing content developed by experts on the Federal Retirement Systems.
Seminar content is delivered by Federal Employee Retirement Planning in one-half day training or 1 ½ hour TSP and FERS sessions in an open enrollment or agency specific format.
Our No-Cost Training Session Philosophy:
Federal Employee Retirement Planning provides “No-Cost” training seminars for Federal Agencies and their employees. Preparing for retirement is both challenging and complex in today’s retirement benefits and financial environment. At FBE we believe that providing “No-Cost” (for either agency or employee) training seminars will enhance agency utilization and employee attendance. In this manner Federal Employee Retirement Planning believes a greater number of federal employees will benefit from training seminars.
Ways to Access the Training
Attend a local workshop
Choose from pre-scheduled workshop dates in your local community. Add yourself to the waiting list to be notified when new locations and dates are announced.
Host a workshop on-site
Coordinate an on-site training for employees at your federal agency or office. Choose from several tailored options to fit your employees' specific needs.
Retirement Training One on One’s
For employees who want immediate access at their fingertips, we have a self-paced course! Working with a professional at your convenience. Simply schedule a call, work out a schedule, and get started at your pace.
Topics Covered in the Workshops
General Retirement Planning
Retirement Systems (CSRS & FERS)
Survivor Benefit Plan
Social Security
FERS Special Retirement Supplement
Taxes on Federal Pensions
Federal Employees Group Life Insurance
Federal Employees Health Benefits
Federal Long Term Care Insurance Program
Thrift Savings Plan
Understanding Your Federal Benefits
Federal Employee Retirement Planning’s objective is to provide the education federal employees need to make better informed decisions regarding their federal retirement benefits. Federal Employee Retirement Planning conducts one-half day training or 1 ½ hour TSP and FERS sessions for federal employees across the mid-south each year.
Benefits Analysis
Having trouble visualizing how to best prepare for a financially successful retirement? You are not alone. Federal Employee Retirement Planning specializes in serving federal employees, can assist with a detailed plan.
What is the Thrift Savings Plan (TSP)?
The Thrift Savings Plan (TSP) is a retirement savings and investment plan for Federal employees and members of the uniformed services, including the Ready Reserve. It was established by Congress in the Federal Employees' Retirement System Act of 1986 and offers the same types of savings and tax benefits that many private corporations offer their employees under 401(k) plans.
The TSP is a defined contribution plan, meaning that the retirement income you receive from your TSP account will depend on how much you (and your agency, if you are eligible to receive agency contributions) put into your account during your working years and the earnings accumulated over that time.
How Does the TSP Fit into My Retirement Package?
TSP and Retirement
If you are covered by the Federal Employees' Retirement System (FERS), the TSP is one part of a three-part retirement package that also includes your FERS basic annuity and Social Security.
If you are covered by the Civil Service Retirement System (CSRS) or are a member of the uniformed services, the TSP is a supplement to your CSRS annuity or military retired pay.
If you are not certain which retirement system you are covered under, you should check with your personnel or benefits office.
Who Administers the TSP?
The Federal Retirement Thrift Investment Board (FRTIB or "Board") Administers the TSP
The assets of the TSP are held in trust in the Thrift Savings Fund. The financial statements of the Thrift Savings Fund are required by law to be audited annually.
The FRTIB is an independent Government agency that is managed by five presidentially appointed board members and an Executive Director who are required by law to manage the TSP prudently and solely in the interest of the participants and their beneficiaries.
The FRTIB also consults with the Employee Thrift Advisory Council (ETAC), a statutorily created Advisory Committee comprising representatives of employee organizations, unions, and the uniformed services. The Council provides advice to the Board and the Executive Director on matters relating to the investment policies and administration of the TSP.
The FRTIB Is Also Supported by Private Sector Companies
The record keeper handles the day-to-day maintenance and administration of all TSP accounts, processes requests for benefits, and provides call center support.
Your Agency or Service Plays an Important Role in the TSP
Your agency or service is responsible for determining your retirement coverage and reporting to the record keeper the dollar amount of contributions to your account each pay period. It also distributes TSP materials and answers your questions about the TSP.
While you are employed, your agency or service is your primary TSP contact. You should inform your agency or service representative about any changes or corrections to personal information that might affect your TSP account including address changes.
After you separate from Federal service, the TSP becomes your primary point of contact.
FERS Information
Congress created the Federal Employees Retirement System (FERS) in 1986, and it became effective on January 1, 1987. Since that time, new Federal civilian employees who have retirement coverage are covered by FERS.
FERS is a retirement plan that provides benefits from three different sources: a Basic Benefit Plan, Social Security and the Thrift Savings Plan (TSP). Two of the three parts of FERS (Social Security and the TSP) can go with you to your next job if you leave the Federal Government before retirement. The Basic Benefit and Social Security parts of FERS require you to pay your share each pay period. Your agency withholds the cost of the Basic Benefit and Social Security from your pay as payroll deductions. Your agency pays its part too. Then, after you retire, you receive annuity payments each month for the rest of your life.
The TSP part of FERS is an account that your agency automatically sets up for you. Each pay period your agency deposits into your account amount equal to 1% of the basic pay you earn for the pay period. You can also make your own contributions to your TSP account and your agency will also make a matching contribution. These contributions are tax-deferred. The Thrift Savings Plan is administered by the Federal Retirement Thrift Investment Board.
For more information about TSP see their website. See the SSA website for more information about the Social Security portion of your retirement benefit. This website covers the Federal Employees Retirement System where you can find information about the following FERS retirement topics:
- Eligibility – The main eligibility requirements for the common types of retirements.
- Computation – How your retirement annuity is computed.
- Creditable Service – Rules showing the civilian and military service that can be used to compute your FERS retirement benefits.
- Planning and Applying – It's never too early to start planning for retirement in order to ensure it goes smoothly. Here you will find information to help ensure your retirement starts well.
- Early Retirement – Explanation of the minimum retirement age and early retirement if your agency under goes a “reduction in force” or you are involuntarily separated other than for cause.
- Types of Retirement – Learn about the age, service requirements and considerations affecting the various types of retirement.
- Deferred – If you are a former Federal employee who was covered by the Federal Employees Retirement System (FERS), you may be eligible for a deferred annuity at age 62 or the Minimum Retirement Age (MRA).
- Survivors – When a Federal employee dies, monthly or lump sum benefits may be payable to survivors. Learn about these Survivor benefits here.
- Military Retired Pay – Adding military service to your civilian service
- Service Credit – Payment to increase your annuity for civilian service when no CSRS retirement deductions were withheld or were refunded or for military service after 1956.
- Former Employees – Options if you leave your Government job before becoming eligible for retirement.