Blog

30
Jun

Do Federal Employees Get To Keep Their Life Insurance Plans After Retirement?

Even though federal employees are automatically enrolled in the Federal Employee Group Life Insurance (FEGLI) plan unless they are opt-out, many are confused by it. As the world’s largest group life insurance plan, it has many details and nuances, making it difficult for employees to follow. Today the plan serves over 4 million federal employees and retirees. Here are important

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23
Jun

Revisiting Your FEGLI Coverage Options and Costs

Federal employees are automatically enrolled in the Federal Employees’ Group Life Insurance (FEGLI) plan unless they opt out in writing before the end of their first pay period. This type of government insurance was established after the FEGLI Act passed Congress and was signed by President Eisenhower in 1954. Here’s a look at what this coverage involves and what your

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25
May

A Guide to Designating Your FEGLI Beneficiaries

When you sign up for the federal employees’ group life insurance program or FEGLI, whether you only have the Basic cover or include Options A and B, you must ensure that your plan supports the welfare of your family or other dear ones after you pass away. Designating FEGLI beneficiaries ensures that the benefits go to the intended individuals or

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18
May

Useful Retirement Planning Strategies for Government Employees

Working for the government usually requires a different type of retirement plan than average Americans who receive 401(k) plans from their employers and Social Security benefits from the government. Several retirement benefits are available to government employees. Here’s a look at how federal employees can strategize their retirement planning. Thrift Savings Plan Contributions and Investment Schemes A popular federal retirement

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27
Apr

5 Frequently Asked Questions About Federal Employee Insurance

Being a federal employee has many perks, including a robust pension scheme and health insurance plan. Here are answers to some of the questions you may have as you begin your federal retirement planning. Will My Premiums Increase When I Retire? No. Retirement won’t raise your premiums. You’ll be paying the same amount every month as you paid while you

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20
Apr

6 Things You Should Know About Retirement Planning and Saving

Planning for a smooth retirement should begin decades in advance so that you can embed financial goals into your long-term strategy. Many Americans, however, face enormous economic challenges, including saving for retirement. Here are six important points to consider while optimizing your retirement planning and saving strategy. Women and Black and Hispanic Workers Are More Susceptible to Experiencing Financial Insecurity

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30
Mar

6 Common Myths About Federal Retirement Benefits You Need to Be Aware Of

If you’re a federal employee, you’ve likely heard or read about many do’s and don’ts regarding your retirement planning. However, depending on the source, some of the information may or may not be true. To help you effectively plan for your retirement, let’s dispel some of the myths surrounding federal employees’ retirement. Myth 1: Social Security Will Not Be There

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23
Mar

Qualified Vs. Nonqualified Retirement Plans: How Are They Different?

One way for employers to build employee loyalty is to offer retirement plans. The Employee Retirement Income Security Act (ERISA), which became effective in 1974, opens the door to qualified plans that protect employees. ERISA guidelines define which retirement plans are qualified and which ones are non-qualified. Here’s a look at how these plans differ. What is a Qualified Retirement

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23
Feb

Why You Shouldn’t Underestimate Your Disability Insurance Needs

Most Americans underestimate their need for federal disability insurance, assuming illness or an accident can never happen to them. Here are essential points about disability insurance that are widely misunderstood. Why Disability Insurance Should be More Common? One of the reasons why many young people don’t think they’ll need federal disability insurance is because they believe they won’t get into

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16
Feb

What is a Federal Retirement Thrift Savings Program?

A TSP (Thrift Savings Plan) is a retirement investment plan exclusively available to federal government employees and members of the U.S. uniformed services. This defined-contribution plan provides federal employees many of the benefits private-sector employees enjoy. A Thrift Savings Plan is similar to a 401(k) plan in many ways. However, TSP investment options carry some degree of risk ranging from

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