3-Day Split Retirement Planning
3-Day Split Retirement Planning (CSRS/FERS Separate Days)
The average American spends more time planning their annual two-week vacation than they spend planning for their retirement.
The need for retirement planning is greater today than it was even 10 years ago. Employees have options, choices and considerations that they must be fully aware of in order to make the most of their retirement.
Target Audience: Employees within 5 years of retirement. This seminar provides all the information that an employee needs to prepare for retirement.
Our 3-day Split Retirement Planning Seminar is designed to cover the provisions unique to CSRS on Day 1, general provisions that apply to all employees on Day 2, provisions unique to FERS on Day 3
Day 1
- Introduction
- Preparing for the Transition
- Civil Service Retirement System
Eligibility
Deposits, Redeposits & Military Service Deposits Creditable Service Computation Treatment of Unused Sick Leave Offset at age 62 (CSRS Offset only) Survivor’s Benefits Health Insurance Flexible Spending Accounts High Deductible Health Plans with Health Savings Accounts Federal Employee Dental and Vision Insurance Program Life Insurance Taxation (Federal & State) Lump Sum Annual Leave Payment COLAs
- Thrift Savings Plan Investment Options in Retirement
Catch-Up Contributions Concept of Compounded Interest Withdrawal Options Tax Issues 10% Early Withdrawal Penalty
Day 2
- Social Security and Medicare Understanding Your Social Security Benefits Statement
Earnings Limitation Taxation Windfall Elimination Provision Government Pension Offset Actuarial Reduction
- Medicare Why Age 65 is Important
Three Parts (Hospital, Medical & Prescription) Enrollment Periods Cost Covered Services Deductibles & Coinsurance Primary Secondary Payer
- Long-Term Care Insurance What Is It?
Why You Need It Options & Features of Coverage Resources for Making Your Decision
- Financial Considerations Budgeting
Investing Projecting Financial Needs
- Legal Aspects Introduction of Legal Terms
Importance of Developing and Maintaining a Current Will Trusts (Living (revocable/irrevocable), Testamentary, and Insurance) Power of Attorney, Personal Representative Probate What is a Living Will?
- Relocation Considerations
- Health & Lifestyle Considerations
- Processing Your Retirement What to Expect
Day 3
- Introduction
- Preparing for the Transition
- Federal Employees Retirement System Eligibility
Deposits/Military Service Deposits Creditable Service Computations Basic FERS Benefit Annuity Supplement Survivors’ Benefits Health Insurance Flexible Savings Accounts High Deductible Health Plans with Health Savings Accounts Federal Employee Dental and Vision Insurance Program Life Insurance Taxation (Federal & State) Lump Sum Annual Leave Payment COLAs
- Thrift Savings Plan Investment Options in Retirement
Catch-up Contributions Concept of Compounded Interest Withdrawal Options Tax Issues 10% Early Withdrawal Penalty (if retirement occurs before age 55)
