Federal Retirement Impact Workshop

Transcription

1 Workshop Training Agenda General Retirement Planning Tips for being better prepared for a smooth transition into retirement Checking beneficiaries on all federal benefit programs Understanding what you have and what you need to know about decisions to make at retirement Retirement Systems (CSRS & FERS) Eligibility requirements and how to choose the best retirement date Special Considerations for Law Enforcement Officers, Air Traffic Controllers and Firefighters Calculating the CSRS & FERS annuity Application of unused sick leave and annual leave at retirement Cost of Living Adjustments in retirement Survivor Benefit Plan Coverage, cost, and who can benefit from SBP Considerations for electing SBP at retirement Important connection with FEHB FERS Special Retirement Supplement Eligibility requirements and calculating the benefit What happens if you work after retiring Social Security Strategies for Social Security benefits Federal Employees Group Life Insurance Coverage and costs while employed Federal Employees Health Benefits Tax advantage of FEHB while working Eligibility to keep FEHB in retirement Considerations for federal couples Coordination between FEHB and Medicare Part B Federal Long Term Care Insurance Taxes on Various Benefits What services Long Term Care insurance covers Various ways to pay for LTC services Coverage and costs for services Eligibility requirements to obtain coverage Options available through FLTCIP Thrift Savings Plan Fund choices, tax advantages and options within the TSP while working How to maximize government contributions Complementing the TSP with outside assets Identifying your risk tolerance for investing Options available at retirement Federal and state tax implications Overview Tips to be proactive and understand the financial impact of the decisions to be made at retirement Bonus Videos Deposits, Redeposits & Military Deposits Voluntary Contribution Plan Windfall Elimination Provision Government Pension Offset FEGLI options available at retirement ProFeds LLC (844) PRO FEDS rev

2 Meet the ProFeds Speakers Chris Kowalik is the founder of ProFeds, and a nationally recognized federal employee retirement benefits expert and brings nearly two decades experience in the industry. She is a frequent speaker and trainer for federal employee organizations and financial service firms throughout the country. She knows first hand the challenges that so many face as they plan for and approach retirement. She believes that helping employees to take ownership of their decisions is the first step to making progress in meeting their retirement goals. Chris is a former active duty U.S. Marine and served as an Arabic Linguist and Signals Intelligence Analyst prior to starting ProFeds. She and her husband have three children and live in the Chicago, IL area. Kevin Jones is a professional speaker and has delivered training programs to employee audiences for 20+ years. Kevin engages attendees with a high energy training experience at the ProFeds Federal Retirement. Prior to joining ProFeds, he led powerful live training to government agencies such as NASA, and Fortune 500 companies such as AT&T, Intel, Lowe s, & Dow Chemical. Kevin helps thousands of employees gain more out of their work and create thriving careers. Kevin s degrees in Business Administration and Instructional & Performance Technologies equips him to provide valuable insights to the ProFeds team. He and his wife have eight children and live in the Portland, OR area. About ProFeds Founded in 2008, ProFeds is home of the Federal Retirement. While federal benefits are often confusing and difficult to interpret, our speakers break down complex concepts into easy to understand language to show employees how proactive benefits decisions can positively affect their overall financial situation. ProFeds provides tailored training to financial professionals on the unique complexities of federal employee benefits, so they are able to provide credible, top notch financial planning services to federal employee clients. ProFeds is a Service Disabled Veteran Owned and Woman Owned Small Business proudly serving the training needs of federal agencies by providing quality workshops as a federal contractor (CAGE# 5YRG2). ProFeds LLC (844) PRO FEDS rev Steve Selman is an active U.S. Army Reserve Lieutenant Colonel with over 27 years of military service including combat tours in Bosnia, Kosovo, Kuwait and Iraq. He spent over a decade mobilized in support of the War on Terror while assigned to U.S. Central Command in Tampa, FL. His years as a financial advisor allowed him to serve the unique planning needs of military and federal employee families in Frankfurt Germany. This gave Steve keen insights into the many planning challenges facing those who serve our country. Steve has earned his Masters of Business Administration and Bachelor of Science in Communications degrees, and is a graduate of the Command and General Staff College. Steve has four children and lives in the Tampa, FL area.

3 Hitting the mark What Attendees Say About the Workshop It is important to ProFeds that we continually monitor our effectiveness in the classroom. Based on feedback we receive on the training evaluation forms, we feel that we re striking the right chord with the wide variety of federal employees who attend our workshops across the country. The workshop you delivered yesterday was phenomenal. I enjoyed the presentation as well as the class participation and interaction. D.S., U.S. Office of Personnel Management, Washington, DC Don t miss this! A.G., Securities & Exchange Commission, Washington, D.C. Wish we had this 10 years ago it made the retirement system easy to understand. K.F., Department of Justice, Milwaukee, WI I learned a lot and am so glad I attended.you re a SUPER speaker and it s easy to see why you re in such high demand. Your material was spot on, informative, easy to understand. J.R., Dept of the Army, San Antonio, TX The most informative retirement workshop I have ever attended thus far. Easy to understand and very straight forward. M.M., NTSB, Washington, DC This session has made me realize how much more planning I need to do before I retire. S.A., U.S. Courts Federal Judiciary, Shreveport, LA Class was thorough, well paced, clear, timely, very well organized, and insightful. Definitely worth your time. J.R., Dept of Commerce, Arlington, VA The most information I have ever received and heard in my ENTIRE military and federal years. L.B., Dept of Defense, Washington, DC Didn t try to sell anything but did give a lot of information about the pros and cons of each federal program. M.H., Dept of Defense, San Antonio, TX Very informative to come to and to learn what you have coming, and what to do and what not to do. The things we learned today, I had no idea about. Thank you so much, not just for me but for my family. H.S., Dept of Veterans Affairs, Little Rock, AR Take it! I have a much better understanding of how our retirement system works. D.B., Dept of Agriculture, Bozeman, MT ProFeds LLC (844) PRO FEDS rev

4 Top 4 Reasons to Choose ProFeds as Your Workshop Provider Since federal agencies are required to train employees about their benefits, agency representatives often seek assistance from non government entities to find a professional, competent and qualified trainer who is able to satisfy all of the necessary learning objectives. Selecting a workshop provider for federal benefits training becomes simpler when an agency has clearly defined the areas which are important to them and their employees. Qualifications of the workshop provider ProFeds offers the Federal Retirement to federal agencies and associations nationwide. The founder of ProFeds, Chris Kowalik, is a nationally recognized federal employee retirement benefits expert, and a frequent speaker and trainer for federal employee organizations throughout the country. As a federal service provider, ProFeds is registered with System for Award Management (SAM) and can be found using CAGE Code 5YRG2. Objective of the training material The Federal Retirement focuses on helping employees to fully understand the financial impact of the benefit decisions they will need to make as they approach retirement. The goal of the workshop is not to make federal benefits experts. It is our true desire to help employees to explore their options, and have a sincere appreciation of the importance of their ultimate benefit decisions. Quality of the workshop material The slide presentation and handouts offered are professional, well organized, and easy to understand. We strive to keep our slides clear of distractions such as clipart, or other unnecessary design elements. We are able to tailor each workshop session to meet the needs of the employees who will be in attendance. Partnerships with local professionals ProFeds is proud to train financial professionals about the unique complexities of federal benefits and how to help federal employees to leverage each of the benefits as they plan for retirement. ProFeds has an ongoing relationship with each financial professional to provide top notch service to federal employees. Because ProFeds is partnered with qualified financial professionals, we are able to offer each employee an opportunity to meet to review their specific situation and develop a personalized Federal Retirement Impact Report together. This analysis helps to demonstrate the value of their benefits and identify key decisions to be made as they move closer to retirement. This benefits review is offered at no cost to the agency or employee. While federal benefits are often confusing and difficult to interpret, ProFeds is able to breakdown complex concepts into easy to understand language and shows employees how proactive benefit decisions can positively affect their overall financial situation. ProFeds LLC (844) PRO FEDS rev

5 AUTHORIZATION, AGREEMENT AND CERTIFICATION OF TRAINING A. Agency, code agency subelement and submitting office number Section A - TRAINEE INFORMATION Please read instructions on page 6 before completing this form B. Request Status (Mark (X) one) Resubmission Correction Initial Cancellation 1. Applicant's Name (Last, First, Middle Initial) 2.Social Security Number/Federal Employee Number 3. Date of Birth (yyyy-mm-dd) 4. Home Address (Number, Street, City, State, ZIP Code) (Optional) 5. Home Telephone (Optional) (Include Area Code) 6. Position Level (Mark (X) one) a. Non-supervisory b. Manager 7. Organization Mailing Address (Branch-Division/Office/Bureau/Agency)) 8. OfficeTelephone (Include Area Code and Extension) c. Supervisory d. Executive 9. Work Address 10. Position Title 12. Type of Appointment 11. Does applicant need special accomodation? Yes No 13. Education Level (click link to view codes or go to page 7) If yes, please describe below 14. Pay Plan 15. Series 16. Grade 17. Step 1a. Name and Mailing Address of Training Vendor (No., Street, City, State, ZIP Code) Federal Contractor: ProFeds LLC DUNS# ; CAGE# 5YRG2 PO Box 124, Fox Lake, IL c. Vendor Telephone Number 1d. Vendor Address 2a. Course Title 2b. Course Number Code 3. Training Start Date (Enter Date as yyyy-mm-dd) 4. Training End Date (Enter Date as yyyy-mm-dd) ProFeds' FedImpact Retirement Workshop CSRS/FERS Section B - TRAINING COURSE DATA 1b. Location of Training Site (if same, mark box) Workshops@ProFeds.com 5. Training Duty Hours 6. Training Non-Duty Hours 7. Training Purpose Type 8. Training Type Code (Click link to view codes or go to page 9) (Click link to view codes or go to page 9) 9. Training Sub Type Code (Click link to view codes or go to page 9) 14. Training Accreditation Indicator (Check below) Yes 33 No 10. Training Delivery Type Code (Click link to view codes or go to page 12) 15. Continued Service Agreement Required Indicator (Check below) Yes No N/A 11. Training Designation Type Code (Click link to view codes or go to page 13) 16. Continued Service Agreement Expiration Date (Enter date as yyyy-mm-dd) 18. Training Objective 19. AGENCY USE ONLY Provide employees with the proper knowledge of federal benefits to be prepared to retire from federal service Training Credit 13. Training Credit Type Code (Click link to view codes or go to page 13) Employee: Complete blocks 3-6 Agency: Complete blocks Training Source Type Code (Click link to view codes or go to page 13) 03 Section C - COSTS AND BILLING INFORMATION 1. Direct Costs and Appropriation / Fund Chargeable Item Amount Appropriation Fund 2. Indirect Costs and Appropriation / Fund Chargeable Item Amount Appropriation Fund a. Tuition and Fees b. Books & Material Costs c. TOTAL 3. Total Training Non-Government Contribution Cost a. Travel b. Per Diem c. TOTAL 6. BILLING INSTRUCTIONS (Furnish invoice to): 4. Document / Purchasing Order / Requisition Number Digit Station Symbol (Example ) U.S. Office of Personnel Management Page 1 Standard Form 182 NSN Revised December 2006 All previous editions not usable.

6 Section D - APPROVALS 1a. Immediate Supervisor - Name and title 1b. Area Code / Telephone Number 1c. Address 1d. Signature 1e. Date 2a. Second-line Supervisor - Name and title 2b. Area Code / Telephone Number 2c. Address 2d. Signature 2e. Date 3a Training Officer - Name and title 3b. Area Code / Telephone Number 3c. Address 3d. Signature 3e. Date Section E - APPROVALS / CONCURRENCE 1a. Authorizing Official - Name and title 1b. Area Code / Telephone Number 1c. Address 1d. Signature Approved Disapproved 1e. Date Section F - CERTIFICATION OF TRAINING COMPLETION AND EVALUATION 1a. Authorizing Official - Name and title Christina Kowalik, Owner of ProFeds 1b. Area Code / Telephone Number 1c. Address Workshops@ProFeds.com 1d. Signature 1e. Date TRAINING FACILITY ~ Bills should be sent to office indicated in item C6. l Please refer to number given in item C4 to assure prompt payment. U.S. Office of Personnel Management Page 2 Standard Form 182 Revised December 2006 All previous editions not usable.