There’s no shortage of annuity salespeople trying to convince you that a private annuity can create “guaranteed lifetime income,” but there are several reasons why private annuities may not be the best option for federal employees and retirees. But before ... Read More

For many federal retirees, the Income-Related Monthly Adjustment Amount (IRMAA) comes as an unexpected layer of healthcare costs. While Medicare is often thought of as a uniform benefit, IRMAA introduces income-based pricing that can significantly increase monthly healthcare expenses for ... Read More

What do “Macarena” by the Bayside Boys, “Killing Me Softly” by the Fugees, “Ironic” by Alanis Morisette, and 529 plans all have in common? They all came to us in 1996, of course! Congress first created 529 plans by passing ... Read More

If you’re a regular reader of the STWS blog, you’ll know it’s about that time of year again… In recent years, writing about the JORC (the “joy of Roth conversions,” naturally) has become a bit of an annual tradition. It ... Read More

Federal employees approaching retirement or following recent workforce developments may have questions about what to expect. In this episode, Dan and Katelyn explain OPM’s retirement process and discuss the recent Schedule Policy/Career changes, including what has and has not changed ... Read More

Most federal service employees select their retirement date based on a few factors, including FERS/CSRS pension payouts or Social Security timing. However, this approach may not fully consider the potential tax implications of these decisions. To avoid unpleasant and costly ... Read More

Many federal retirees are surprised to learn that Medicare premiums are not the same for everyone. Once your income exceeds certain thresholds, Medicare imposes an additional surcharge known as the Income-Related Monthly Adjustment Amount (IRMAA). For higher-income retirees, these surcharges ... Read More

Over the years, senior citizens in the US have been the victim of many scams and fraudulent activities. The Centers for Medicare and Medicaid service (CMS) recently found an issue involving Medicare beneficiaries being assigned new Medicare numbers and sent ... Read More

For years, many retirement conversations assumed a much shorter timeline. A Fed might retire, draw a pension, claim Social Security, take withdrawals from the Thrift Savings Plan (TSP), and plan around a retirement lasting 10 to 15 years. That assumption no longer ... Read More

Most Feds start retirement planning by looking at their own pension, Social Security, and Thrift Savings Plan income. For married Feds, the conversation also needs to include what happens to a spouse if the retiree dies first. A survivor election ... Read More