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Management Concepts

Retirement Planning for Federal Employees (3-day)

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Next dates

Apr 24—26
3 days
Washington, District of Columbia, United States
USD 899
USD 299 per day
May 15—17
3 days
Tysons, Virginia, United States
USD 899
USD 299 per day
Jun 5—7
3 days
Washington, District of Columbia, United States
USD 899
USD 299 per day
+8 more options

Description

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.

Learning Objectives

  • 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

Course Topics

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?

Estate Planning

  • 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

Transition Retirement

  • Second career choices
  • Life after retirement
  • Health concerns
  • Volunteer work, part-time work
  • Should I move?
  • The "Fun Factor"

Technology Requirements

  • 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

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.

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