Who should attend
This course is intended for Federal government employees within 10 years of their retirement eligibility date who are interested in retirement planning and making informed decisions about it.
About the course
Federal employees need to learn about their Federal retirement options. Management Concepts and the National Institute of Transition Planning (NITP) have joined forces to provide Federal employees the most comprehensive and up-to-date retirement planning seminars available.
- Plan a smooth transition into retirement
- Consider steps necessary for planning for retirement
- Determine most appropriate Federal benefits options and best dates to retire
- Address Thrift Savings Plan (TSP) withdrawal concerns
- Understand Social Security eligibility and survivor benefits
- Get answers to financial and tax planning questions
- Begin estate planning
- Understand the psychological aspects of retirement
Federal Retirement Benefits, Insurances, Medicare and Social Security Benefits
- General understanding of the Federal retirement programs
- Explore the topic of how service is credited in the retirement computation
- Consider the “what ifs” of early retirement, discontinued service, disability, and resignation
- Selecting a good retirement date
- Simple calculations that can be completed without a computer or a degree in math
- Survivor benefit election considerations
- Timing the retirement application and what can be expected after retirement
- Federal Employees’ Group Life Insurance and Health Benefits coverage
- Why do we need Medicare?
- Social Security qualifications and what you can expect to receive
- Spousal and survivor’s benefits under Social Security
Financial and Income Tax Planning and Long Term Care
- Investment strategies for retirement planning
- Tax planning issues
- TSP and IRA distributions
- TSP strategies
- What are the fund choices?
- Tax changes after retirement
- Sale of principal residence
- What can be done to minimize taxes?
- Computing the ‘tax free’ portion of your retirement benefit
- Pros and cons of paying down a mortgage
- Can you afford to retire?
- Necessary lifetime documents – POA and Health Care
- Managing transfers of assets at death – Joint Ownership and Beneficiary Designations
- Transfers at death through probate and by trust
- Estate planning issues for children and second marriages
- Understanding estate and gift taxes
- The Estate planning process
- Second career choices
- Life after retirement
- Health concerns
- Volunteer work, part-time work
- Should I move?
- The "Fun Factor"
- This course is available in the following delivery modalities: Classroom. To view technology requirements by modality, click here.
What to Bring to Class
Although this is not a workshop where there would be individual estimates and consultations, it is helpful to be able to apply the concepts learned to your personal situation. Some attendees in the past have found it useful to bring the following materials to use as a reference:
- Recent Pay Statement
- Recent Social Security Statement
- Recent Thrift Savings Plan Statement
- Pocket Calculator
Because of COVID-19, many providers are cancelling or postponing in-person programs or providing online participation options.
We are happy to help you find a suitable online alternative.