April 25th, 2024

Retirement is supposed to be a time of excitement. Unfortunately, for many Corps employees, it’s a period rife with stress.
There are so many questions to consider. Do I move my TSP to the G-Fund? When can I draw on my TSP? When must I draw on it? What are my tax implications? Am I supposed to select a survivor benefit for my pension? Can I afford to keep my Federal Employees Group Life Insurance policy? When am I going to elect to receive social security benefits? Am I going to work after retiring from the Corps? How do I plan for long-term care? If you’re a Veteran, did you exercise your options for the military service buy back? This is just the tip of the iceberg when it comes to questions heading into retirement, and, honestly, they can be frightening enough that some Corps employees delay retirement rather than attempt to answer them all at once.
We have done a lot of research into retirement and found there are resources out there available to help those Federal employees who have worked hard and earned their retirements.
- FED IMPACT https://fedimpact.com/attend-retirement-workshop/ is an excellent source for Federal employees beginning to plan for retirement. They host seminars across the United States, registration is free, and they encourage your spouse to attend.
- TSP https://www.tsp.gov/login/ also has some tutorials and offers some live training through their website.
There are other resources out there, including using your own financial planner to assist you with your retirement plans and decisions. Note: If consulting a financial advisor, make sure that they are designated as a fiduciary and always ask how they are compensated.
As always, if you have any questions or need help, reach out to your union rep for assistance. If your local union rep is unsure of where to start, they can reach out to the ACE Council, and we can help get you going in the right direction.