Retirement Watch | The Average Monthly Retirement Budget Is $4,345 — Can Boomers Live Off That?

Article Title: The Average Monthly Retirement Budget Is $4,345 — Can Boomers Live Off That?
Snippet of Article: "...The Bureau of Labor Statistics found the average expenses of someone 65 and older to be approximately $4,345 per month. It should be noted that younger retirees averaged higher expenses than older retirees. Monthly expenses of $4,870 per month were estimated for people between the ages of 65 and 74 and $3,813 for those 75 and older. One GOBankingRates study that evaluated the retirement affordability of each state showed that nearly half of America showed an average cost of living estimate to be under $4,000 a month. ..."

Source: www.gobankingrates.com

[tag] Average Monthly Retirement Budget,retirement, [/tag]

10 Actions and Strategies for Federal Employees Planning to Retire

Article Title: 10 Actions and Strategies for Federal Employees Planning to Retire
Snippet of Article: "...Federal employees who are eligible to retire should be fully financially prepared to retire. With a sufficient amount of preparation, an employee can do more than just dream about a comfortable and financially secure retirement...."

Source: www.myfederalretirement.com

[tag] Federal Employee News, Federal Civil Service, Retirement, [/tag]

Federal Retirement Claims Continue to Surge

Article Title: Federal Retirement Claims Continue to Surge in March, But Backlog Is Down
Snippet of Article: "...The Office of Personnel Management reported last week that the annual surge in retirements, traditionally reserved for January and February, crept into March this year, although the agency has managed to reduce the backlog of claims. Last month, 10,048 federal employees..."

Source: www.govexec.com

[tag] Federal Employee News, Federal Civil Service, Retirement, [/tag]

Federal Employees Waiting until Later to Retire

Article Title: Federal Employees Waiting until Later to Retire
Snippet of Article: "...The average retirement age for federal employees is continuing to rise, hitting an average of 61.8 in the 2017 fiscal year, up by a half-year over 2015, a recent OPM report shows. At two of the largest agencies..."

Source: www.fedweek.com

[tag] Federal Employee Retirement [/tag]

Important changes to TSP withdrawal options

Article Title: Important changes to TSP withdrawal options
Snippet of Article: "...you’ll also have the option to take your withdrawal only from your Roth balance or only from your traditional balance. These options will be available for all types of withdrawals. Read the TSP Q&A relating to the changes at..."

Source: NPMHU 317

[tag] Federal Employee News, Federal Civil Service, TSP Withdrawal Options, TSP, ROTH, retirement, [/tag]

Trump’s Budget Takes a Big Bite Out of Federal Retirement Benefits

Article Title: Trump’s Budget Takes a Big Bite Out of Federal Retirement Benefits
Snippet of Article: "...As part of his austerity drive, President Trump is seeking to eliminate cost-of-living adjustments for retirees in the Federal Employee Retirement System (FERS), the premier government retirement program. He would also cut the cost-of-living adjustment rate by 0.5 percent for those covered by the parallel Civil Service Retirement System..."

Source: yahoo.com

[tag] Federal Employee News, Federal Civil Service, [/tag]

The upcoming federal employee 'retirement tsunami' has yet to begin

Article Title: Average January retirement surge falls short of alarmist predictions
Snippet of Article: "...The latest data released by the Office of Personnel Management showed that in the first month of 2017, 15,317 federal employees filed to retire...January is historically the month when the most feds file for retirement. But that number, while large, is about 100 fewer than in 2016, and falls short of 2015’s numbers by more than 3,300..."

Source: federalnewsradio.com

[tag] Federal Employee News, Federal Civil Service, OPM, Retirement, Federal employee retirement, Data Sources, OPM’s Strategic Plan FY 2014 – 2018, [/tag]

FERS Creditable Service

Article Title: FERS Creditable Service
Snippet of Article: "...Federal “covered service”, that is, service in which the individual’s pay is subject to FERS retirement deductions, such as service under a career or career conditional appointment, Federal service performed..."

Source: www.opm.gov

[tag]Federal,Government,Military,Retiree, [/tag]