Getting
Started.
Retirement planning for federal employees isn't just about knowing when you can leave — it's about knowing what you'll live on, what your spouse will have after you're gone, and having a plan ready before you walk out the door. This site guides you through the entire picture.
More than your annuity —
the whole picture.
Federal employees typically start serious retirement planning several years before their eligibility date. Others decide early in their careers to retire at 55 or younger and plan financially to make it happen. Either way, the primary concern is the same — can you live comfortably on your annuity and other income sources after you leave government service?
This site will help you evaluate your personal situation, develop a viable retirement and estate plan, and guide you to the resources you need to make informed decisions. There are many questions that must be answered before you turn in your retirement papers: what will you have to live on, what are your current bills and what will they be after retirement, which benefits carry over, and who are your beneficiaries on insurance policies and investment accounts?
Many retirees spend months planning a vacation and know every statistic about their fantasy football teams. Too few spend meaningful time planning their retirement — and it's far too important to leave to chance.
What this site will help you understand
- What you will have to live on in retirement — annuity, TSP, Social Security, other income
- What your spouse will have to live on after you die — survivor annuity, insurance, accounts
- Benefit options — what carries over, what you must elect, what changes at retirement
- Insurance — FEHB, FEGLI, Medicare, FEDVIP, FLTCIP, and FSAFEDS
- Financial considerations including estate planning and probate avoidance
- What survivors need to do — plus easy-to-follow checklists for difficult times
- What other resources are available and where to find them
Don't put off the survivor planning
Just imagine how difficult it will be for your surviving spouse or loved ones if you die unexpectedly — and none of this information is organized or accessible. The Survivor and Estate Planning sections of this site outline exactly what your loved ones will need when the inevitable happens.
Start with the Retirement Costs spreadsheet
If you do nothing else on this site, download and complete the Retirement Costs spreadsheet. It lists both pre- and post-retirement income and expenses with a column for your survivor. An easy-to-follow sample with explanation and guidance is included. Completing it will tell you more about your retirement readiness than any seminar.
The Realities of Retirement — Is It Your Time to Exit?
I was one of the "Boomer" statistics — turning 55 with 35 years and 7 months of service — and made the decision to cut the cord and go on to other things. I hear from many federal employees and most simply fear the unknown, are apprehensive, and in 90% of the cases unprepared to leave.
Many put off making the decision until other factors make it for them — typically poor health, inability to keep up with new technology, reorganization and downsizing, and other factors. It has always amazed me that many will spend months researching a vacation or know every statistic about their fantasy football teams. Too few spend meaningful time researching and planning their retirement.
You have to be emotionally, physically, and financially prepared before signing on the dotted line and submitting your retirement papers. I started planning for retirement over a decade before I left. The sooner you start planning and saving, the sooner you will be able to leave. The good news is that it's never too late to start — it just takes a little incentive on your part and some reliable resources to get your plan off the ground.
You can't — or shouldn't — leave retirement to chance. It's far too important to take as it comes. I would much rather enter retirement on my terms. And I did.
Retirement isn't for everyone, and I for one will never really retire. I retired from the federal sector, but I have other coals in the fire — and I had them smoldering for years, all part of my plan. Now that I'm retired the fire is stoked, the steam is up, and things are going well. This gets back to my point: you have to be emotionally, physically, and financially prepared, and there is no time like the present to start the planning process.
When I was considering retirement, the only way I could get personal insight on what to expect was to call friends who had already retired. That's why I developed this site. The fear of the unknown is one of the primary reasons people put off retirement. I am hopeful that our Ask the Expert Forums and the site in general will help ease your concerns and help you make the decision that is right for you.
Start your plan —
step by step.
Complete the Retirement Costs spreadsheet
Pre/post retirement income and expenses with a survivor column. The most important first step.
Confirm your eligibility
FERS and CSRS eligibility rules, minimum retirement age, MRA+10 provisions, and deferred annuity options.
Estimate your annuity
Learn how your annuity is calculated, what affects it, and what your high-3 average actually means.
Review your benefit options
FEHB, FEGLI, Medicare, FEDVIP, FLTCIP — what carries over, what you must elect, what changes.
Begin estate & survivor planning
The 11-part guide walks you through wills, trusts, beneficiary designations, and building your Survivor's Guide binder.
Ask the Experts
Free forum hosts answer the questions specific to your situation that you can't find answers to anywhere else.
Not affiliated with OPM or any federal entity
This site and Bookhaven Press LLC are independent resources. For HR or personnel actions, contact your agency's personnel office. Retirees contact OPM directly at 1-888-767-6738. Do not send official forms or documents to this site.
CAUTION — Do This Before You Retire (article by Dennis Damp) →