Understanding how your pension is calculated, including concerns about years of service, the high-3 average salary, and eligibility criteria for full benefits. This is a complex area with a significant impact on your retirement income.
Deciding how to invest in the TSP, the federal government's version of a 401(k), can be daunting. Choices about contribution levels, investment funds, and managing these investments over time can greatly affect your financial security in retirement
Navigating the transition of healthcare benefits into retirement, particularly with respect to Medicare and the Federal Employees Health Benefits Program. Understanding the coverage, costs, and the best options for your personal situation can be a source of significant anxiety.
Understanding how your federal retirement benefits will integrate with Social Security, especially with regard to the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO), which can affect the amount they receive.
Deciding whether to invest in the Federal Long Term Care Insurance Program (FLTCIP) or other long-term care options. Concerns about future health needs and the costs associated with long-term care can be a significant worry.
Making decisions about electing survivor benefits for their spouse or dependents, which affects their pension and can have long-term implications for their family's financial security.
Understanding the rules regarding post-retirement employment, especially if they plan to work after retirement, including limitations on earnings and how this might affect their federal retirement benefits.
Concerns about how inflation can erode the purchasing power of their fixed retirement income, and how to best position their assets to mitigate this risk.