Workshop Training Agenda

Transcription

1 Federal Retirement General Retirement Planning Workshop Training Agenda 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 Deposits, Redeposits & Military Deposits 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 Voluntary Contribution Plan Cost of Living Adjustments in retirement Social Security Windfall Elimination Provision (WEP) Government Pension Offset (GPO) Federal Employees Health Benefits Tax advantage of FEHB while working Eligibility requirements to keep FEHB in retirement Considerations for federal couples Coordination between FEHB and Medicare Part B Federal Long Term Care Insurance Program 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 Survivor Benefit Plan Coverage and cost, and who can benefit from SBP Considerations for electing SBP at retirement Important connection with FEHB Taxes on Federal Pensions Federal and state tax implications FERS Special Retirement Supplement Eligibility requirements and calculation of the benefit What happens if you work after retiring Federal Employees Group Life Insurance Coverage and costs while employed How FEGLI changes and options available at retirement 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 Overview Tips to be proactive and understand the financial impact of the decisions to be made at retirement

2 About Chris Kowalik Federal Retirement Meet Your ProFeds Speaker and Trainer Chris Kowalik is a nationally recognized federal employee retirement benefits expert, and a frequent speaker and trainer for federal employee organizations and financial service firms throughout the country. She brings over a decade s worth of experience in the financial services industry and is the most trusted expert among financial professionals serving federal and postal employees. As the developer of dozens of highly regarded retirement planning materials for federal employees, Chris has also analyzed the challenging retirement scenarios for thousands of federal and postal employees helping them to avoid costly mistakes, and highlighting opportunities for them to gain greater financial security in their retirement years. Bringing extensive experience in one to one coaching, providing solutions to hundreds of challenging benefits cases, and conducting dozens of inspiring live training events Chris has helped equip federal employees with confidence to make sound retirement planning decisions. That confidence is based on a clear understanding of how the benefits work, how they apply to the employee, and what financial impact the employee will feel from his or her decisions. Because of Chris background in the financial services industry, 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 or lack of decisions is the first step to making progress in meeting their specific retirement goals. While federal benefits are often confusing and difficult to interpret, Chris is able to break down complex concepts into easy to understand language and shows employees how proactive benefit decisions can positively affect their overall financial situation. About ProFeds ProFeds is a nationwide support structure for financial professionals serving federal employees. The ProFeds team provides tailored training to financial professionals on the unique complexities of federal employee benefits, and how those benefits work into an overall financial plan. The specialized training allows the financial professional to truly understand how the benefits behave, the unintended consequences of certain decisions, and the limitations of what the government benefits can provide. This helps them to provide credible, top notch financial planning services to their federal employee clients with their specific benefit options integrated into their overall financial strategy. ProFeds is proud to be a Service Disabled Veteran Owned Small Business serving the training needs of federal agencies by providing quality training workshops as a federal contractor (DUNS# & CAGE# 5YRG2).

3 Federal Retirement 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. Wish we had this 10 years ago it made the retirement system easy to understand. K.F., Department of Justice, Milwaukee, WI As a result of today s session I will make a retirement plan. C.G., Department of Health & Human Services, San Pedro, CA Chris is excellent a smart cookie! I will plan, pay down debt and stay healthy! C.N., Department of Justice, Shreveport, CA Excellent class. I d like to see more of this type of information being shared at the facility. After today s class, I will create a realistic budget for how much I will need in order to retire without financial strain. R.M., National Park Service, Washington, DC Awesome class. Thanks for providing your time and services to us. Hope to have more classes as beneficial as this one. M.K., Department of Justice, Quantico, VA I really enjoyed the class with I had had the opportunity several years ago. M.S., U.S. Bankruptcy Court, Shreveport, LA This class helped me to establish a better perspective on aggressive vs. conservative investing in TSP. T.M., Department of Defense, Fort Belvoir, VA Excellent class and information. Loved the opportunities to ask questions very knowledgable. I will attend every year until retirement. L.G., Department of Defense, Vacaville, CA Great seminar. Very helpful information provided, and will make me do my homework. S.H., Department of Defense, Dixon, CA Ms. Kowalik presented an excellent presentation and used very easy to understand terms. L.R., Department of Health & Human Services, San Pedro, CA 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 Before you retire this is a class you must go to! R.S., Department of Agriculture, Orlando, FL

4 Federal Retirement Understand the Financial Impact of Retirement Decisions About the workshop We have developed a very unique CSRS and FERS benefits workshop that is focused on helping employees apply what they are learning in the classroom to their own situation. Instead of teaching at a very technical level regarding the benefit rules, we aim to educate employees to know the financial impact of retirement and benefit decisions, and to make those decisions carefully based on sound information. While federal benefits are often confusing and difficult to interpret, ProFeds is able to break down complex concepts into easy to understand language to show employees how proactive benefit decisions can positively affect their overall financial situation. What federal employees are saying This workshop has consistently received 5 star reviews by federal agencies around the country. While the agencies are pleased to host such an impactful training session, the employees leave feeling confident and empowered to take action to positively affect their plans for retirement truly a win win. Ideal candidates The employees who typically benefit most from this As a result of today s session I will make a workshop are within 5 10 years of retirement. Those retirement plan. closer to retirement often have specific questions C.G., Department of Health & Human Services and concerns regarding retirement decisions to be made and that makes this workshop particularly relevant to their situation. Tailoring the workshop to meet the needs of employees With the wide array of federal employees we train, we know the importance of tailoring the workshop material to suit their specific needs. The most common accommodations we make are for audiences of Law Enforcement Officers, Air Traffic Controllers and Firefighters. Following the workshop The financial professional who hosts the workshop offers each employee an opportunity to meet to review their specific situation and develop a personalized Federal Benefits Analysis 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. ProFeds relationship with financial professionals Wish we had this 10 years ago it made the retirement system easy to understand. K.F., Department of Justice ProFeds is a nationwide support structure for financial professionals serving federal employees. The ProFeds team provides tailored training to financial professionals on the unique complexities of federal benefits to help them provide credible, top notch financial planning services to their federal clients. ProFeds is proud to be a federal contractor and make this workshop available free of charge to federal agencies exclusively through financial professionals in the nationwide ProFeds network.

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