Length
2 Day
Summary
Retiring from a Federal career can be a confusing time and can be a daunting task. Retirement in general is a significant transition for anyone. This Two-Day Pre-Retirement Seminar addresses these concerns and informs attendees about the complex array of benefits they have earned, the choices they need to make as they retire, and how to best leverage them within the context of their overall financial and retirement plan. After attending this seminar, attendees will know when they become eligible to retire, which provisions of retirement law affect the computation of their retirement benefits, and how much those benefits are likely to be (CSRS or FERS, Social Security, and TSP). They will also know what choices they will need to make regarding survivor benefits, their health (FEHB) and life insurance (FEGLI) coverage’s, and their TSP funds. In addition, they will understand the overall Federal retirement process
Overview
The two-day Pre-Retirement seminar, for either CSRS/CSRS Offset or FERS employees, includes lessons on history and financing of the Federal retirement programs, eligibility requirements, and benefit computations. It also thoroughly covers survivor benefits, social security, and the Thrift Savings Plan, as well as all of the Federal employee insurance programs. Woven among, and supporting these lessons, are applicable modules on financial and retirement planning, investing, and estate planning. This seminar consists of a series of PowerPoint Presentation delivered via lecture format and designed to effectively convey key points and answer questions on a wide range of topics that cover basic retirement eligibility and benefits, and touch on the emotional and psychological aspects of retirement. The seminar will specifically focus on Federal retirement benefits and the impact of financial decisions on those benefits after retirement. Each 45-60 minute lesson will include a question and answer session and attendees will be invited and encouraged to submit additional questions to the instructor during and at any time following the seminar. The syllabus can be modified to better address client requirements.
Course Content
Day One:
08:00 - 08:50: Retirement Concepts
- Introduction and Seminar Goals
- When to Begin Planning for Retirement
- The Big Questions
- Setting Retirement and Financial Goals
- Financial Planning Concepts
08:50 – 09:00: Break
08:00 - 08:50: Retirement Concepts
- Introduction and Seminar Goals
- When to Begin Planning for Retirement
- The Big Questions
- Setting Retirement and Financial Goals
- Financial Planning Concepts
08:50 – 09:00: Break
- Voluntary Contributions (CSRS audiences only)
- Cost-of-Living Adjustments
- Withholdings from Annuities
- Phased Retirement
Noon – 1:00: Lunch
02:00 – 02:50: Social Security
- What is Social Security
- Eligibility Requirements
- Description of Benefits
- Spouse Benefits
- Survivor Benefits
- Computation of Benefits
- Working and Social Security – Earnings Limitation
- Dual Benefits & Maximizing Social Security
01:50 – 02:00: Break
03:00 – 03:30: Building Your TSP Account
- Employee/Employer Contributions
- Investment Options/Considerations
- Elections/Interfund Transfers
- Loan Program/In-Service Withdrawals
- TSP Investment Strategies
4:00: Day One Wrap Up
02:30 – 03:00: Estate Planning
- Why Plan Your Estate
- Preparing a Will
- Estate Planning Strategies
- Trusts
- Minimizing Estate Taxes
- Contingency Planning
- Maintaining Your Estate Plan
4:00: Day One Wrap Up
10:00 – 10:50: Annuity Computations - CSRS and/or FERS
- Total Service and Unused Sick Leave
- Determining High-3
- General Formula Annuities
- Disability Annuities
- Special Computation Annuities – Law Enforcement, Fire Fighter, etc. (If appropriate)
10:50 – 11:00: Break
09:00 – 9:50: CSRS and/or FERS Annuity Eligibility and Creditable Service
- Program History and Financing
- Eligibility for Retirement
- Creditable Civilian Service
- Deposits/Redeposits
- Creditable Military Service
- Military Service Deposits
01:00 – 01:50: CSRS and/or FERS Survivor Benefits
- Survivor Benefits for Deceased Employees
- Survivor Benefits for Deceased Retirees
- Survivor Elections
- Survivor Benefits to Children
- Lump Sum Death Benefits
- Post Retirement Survivor Elections
01:50 – 02:00: Break
02:00 – 02:50: Investing for the Future
- Investment Planning
- Understanding and mitigating Investment Risk
- Roadblocks to a Successful Retirement
- Corporate and Municipal Bonds
- Stocks
- Mutual Funds
- Individual Retirement Accounts (IRAs)
02:50 – 03:00: Break
01:40 – 02:20: Federal Dental/Vision Program (FedVIP) and Flexible Spending Accounts (FSAs)
- Program Features
- Enrollments and Cost
- Plans and Options
- Qualifying for Benefits
- Continuing in Retirement
02:20 – 02:30: Break
03:00 – 03:30: The Retirement Process
- Elements of a Good Retirement Estimate
- Applying for Retirement
- Processing Your Retirement Application
- Withholdings and Taxation
- Best Days to Retire
- Best Places to Retire
04:00 Seminar Wrap-Up
11:00 – 12:00 (Noon): Annuity Reductions, Additions, and Withholdings
- Reductions for Age, Deposit & Redeposit (CSRS Only), Survivor Benefits, and the AFA
- FERS Annuity Supplement (FERS audiences only)
Day Two:
08:00 - 08:15: Day One Recap and Review
08:15 – 09:15: Retiring on Your TSP Account
- Withdrawal Options at Retirement
- TSP Annuities
- Taxation of Distributions
- Death Benefits
- Making It Last
09:15 – 09:30: Break
10:45 – 11:45: Federal Employees Health Benefits Program (FEHB) and Medicare
- Program Features
- Effective Dates of Enrollment/Changes
- Continuing Coverage Into Retirement
- Temporary Continuation of Coverage and Non-Group Plans
- Continued Coverage for Survivors
- Medicare
- Description of Coverage
- Coordination with FEHB
- Medicare Premiums
11:45 – 12:45: Lunch
09:30 – 09:45: Why We Have Insurance
09:45 – 10:30: Federal Employees’ Group Life Insurance Program
- Types and Amount of Insurance
- Canceling a Waiver of Life Insurance
- Assignments and Other Options
- Continuing into Retirement
- Elections at Retirement and Costs
10:30 – 10:45: Break
12:45 – 01:30: Federal Long Term Care Insurance
- Program Features
- Enrollments and Cost
- Plans and Options
- Qualifying for Benefits
- Continuing in Retirement
01:30 – 01:40: Break
