Mr Haws, thank you so much for all you do. You are AWASOME!!!

Wage Grade folks.....if you retire at the end of the pay year, you are still owed the unpaid COLA that usually occurs in October. You have to wait for the back pay to apply, then contact agency HR to get your owed pay adjustment and adjusted Annual Leave payout. Then HR has to report the changes to OPM to recalculate your annuity. GS COLA starts on the 1st day of the pay year so most retirement specialists forget about Wage Grade COLA.

Thanks Dallen. I plan to retire in 2024. I will turn 62 and have 14 years of federal service. I have a county pension already. As I am over 59.5, I recently rolled my TSP 401Ks into my IRA and Roth IRAs at Vanguard. Every so often I will roll over any future TPS contributions.

Retiring March 31. Already have my paperwork in. It was a long process to get my military time paid in full letter so I am glad I started 6 months early. ABC tells me that I have everything in place and they will assign me a representative two months before my retirement date. I should have around 33 years and a few months with my sick time added in.

@30-Year_Accountant

7 ай бұрын

Congratulations!!! I'm retiring at 56 on January 12 with 30 years & 10 months including 7 months of sick leave. Will also receive FERS supplement until 62 and have 7 figures in TSP. I'm really looking forward to retirement. Enjoy!

@jamesestrada7972

7 ай бұрын

Congratulations same date as you - I thought March 30 is March 31 better 34 yrs plus 7 mos sl

@dennismcdonald8133

7 ай бұрын

With FERS your retirement starts on the first day of the month after your retirement date so it is best to go on the last day of a month so retirement starts the next day.@@jamesestrada7972

This is an excellent presentation for people planning to retire to figure out when and determine if you are financially ready to retire.

I'm a CBPO under DHS Series 1895. Our MS will help get all the paperwork together, however, RABAS will only accept the paperwork no earlier than 4mths before retirement.

🤔 3 steps on a 4 step ladder of retirement. That last step is a doozy. It's called OPM.

Mr. Haws. First of all, thank you for the very awesome education. I am eligible for retirement from FERS at 60. While receiving the pension and supplement, I am thinking about having a full-time job. Will that new income impact my retirement income? If so at what percentage? Thanks again Mr. Haws.

If I’ve been more than five years federal employee where can I check to log in and see status of my pension. Or do we just assume if we have done the time we are good. Hoping there is a log in option somewhere to check status like we are able to log in to tsp. Hope that makes sense. Thanks

How is retirement calculated for a full time seasonal employee? Is it any different from how a full time perm fed employee pension is calculated?

You can apply for retirement online now

Mr. Haws, thank you for your channel, it's great. I plan on retiring in June, and wanted to ask you if I could. I have 240 hours of annual leave built up as well as my current year accumulation. Would it be better if, instead of retiring in June and getting a check for those days, if I instead used all of my leave and extended my time by just over two additional months? This would add to my time/percentage, and spread out the taxes as they normally do. I know most agencies wouldn't allow this, but my bosses will approve it. Does it make sense? Appreciate any input. Tim

@zenawarrior7442

4 ай бұрын

AL gets paid out. SL adds to your time only, no pay.

Hey haws, is it true that after the year 2025 we can't keep the same medical insurance in our retirement. Basically making federal workers have medicare advantage.

@gregthomas2448

7 ай бұрын

Not true.

@ChrisWilliams5605LS

7 ай бұрын

Not true at all. Haws has some other videos regarding retaining your medical insurance into retirement (if you want) but once you start Medicare, your primary medical insurance essentially becomes your medicare supplement and Medicare becomes primary.

Im retiring in 2024 as a federal employee with 18.5 years of service. End of the pay period is december 28th 2024; should I pick this date, or December 31st 2024?

@PlanYourFederalBenefits

Ай бұрын

Great question. Here is a video that can help you decide: kzread.info/dash/bejne/hKhqvK5vmLnVZcY.html&ab_channel=HawsFederalAdvisors

Can you collect you FERS pension and still work at a non-federal govt job .. delay Social Security ..without having any limits on wages ?? I know if you collect SS , you are limitied to around $21,000 per year if you are under your full retirement age of 67.

@30-Year_Accountant

7 ай бұрын

There is no FERS offset if you are 62 or over and work any job (govt or non-govt). If you are under 62 the FERS offset is $21,240. You are correct regarding SS offset if you have not reached your SS minimum retirement age which is usually 67.

@gregthomas2448

7 ай бұрын

@@30-Year_Accountant I retired in 2022 at age 55, I turned 56.6 in August 2023 and started getting the FERS annuity supplement, the earning test for 2024 is 23K per year. It’s a nice benefit I get for 66 months until I reach 62 at which time I will most likely turn on social security and say goodbye to OPM 😉

now a days you have to work till you die

A 62 + 5 years retirement won't get much of a FERS check, but it might be enough to retire on if you're a hamster. I'm thinking it might not even cover FEHB health insurance premiums. :/

@cionyholloway1114

7 ай бұрын

You will get a good social security check as well. Plus years of matching tsp. FERS is just as good (or better) as civil service

@ChrisWilliams5605LS

7 ай бұрын

5 years is just the minimum to qualify under that eligibility grouping. The actual retiree could be 62 with 25 years of service. I plan to retire in 2024. My current eligibility is MRA+10 but when I turn 62 in October, it will be 62 years +5 years of service I suppose. I will have 14 years of federal service when I turn 62. I am already receiving a county pension for prior service.

I was an unexperienced stock trader and i lost over $30K when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I find one source to recover my money, at least $5k profits weekly. Thanks so much Mrs Belinda Owens

@laurenodonnell5889

7 ай бұрын

She's mostly on Telegrams app with the name below.

@laurenodonnell5889

7 ай бұрын

investwithowens💯,, that's it