Navigating federal retirement benefits can be a frustrating journey. While the Office of Personnel Management (OPM) can provide data for a single, specific date, planning with multiple optional dates requires a separate request for each timeline. To bridge this gap, a comprehensive, illustrated report from Federal Benefit Advisory offers a clear roadmap, allowing for accurate retirement planning early in your career.
This detailed 14 Page Federal Employee Retirement Report illustrates multiple pension ( federal retirement annuity) dollar amounts, mapping out an early retirement with penalties alongside a full, immediate retirement without penalties. It projects all pensions from now to a decade into the future if you choose to postpone retirement, and it models the exact income your spouse would receive in the event of your death—along with the precise cost of the spousal benefit at either 25% or 50%. Furthermore, it includes ten-year projections for both the FERS Annuity Supplement and Social Security.
Crucially, the report tackles the hidden financial traps within federal benefits, such as the rising costs of Federal Employee Group Life Insurance (FEGLI), explicitly identifying the exact point where protection is lost when premiums become unaffordable.
A survey of self-proclaimed federal retirement planners reveals that many in the financial services industry treat federal employees simply as a point of sale. These individuals often lack the specialized depth required to safely navigate a highly complex system where a single mistake can be permanent or take years to correct.
In contrast, partnering with a highly trained Certified Federal Retirement Consultant (FRC) ensures you receive expert guidance to identify flaws in your current benefits and implement a plan for cost savings and maximized returns. For veterans, an FRC can evaluate a Military Buy-Back strategy within minutes, projecting precise costs and benefits, a process that typically takes agency HR departments six months to a year and a half to calculate.
A consultation with an FRC is always provided at no cost, saving the federal employee both time and money. Armed with this customized report, you can approach your future with confidence and peace of mind.
Federal Benefit Advisory is a division of National Benefit Advisory, Inc, Seattle, WA, founded in 1993 as a retirement planning service, licensed in most states. George Shipe is Senior Vice President of National Benefit Advisory, Inc and a certified Federal Retirement Consultant.
