The FERS Supplement For Special Provisions
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- เผยแพร่เมื่อ 3 พ.ค. 2021
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Dallen Haws at Haws Financial Planning
Sierra Vista, AZ
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Dallen Haws at Haws Financial Planning
Sierra Vista, AZ
Thank you so much ! This was very helpful as is your channel- I’ve recommended your channel to my coworkers- thanks for the great content !
You are very welcome!
It was great talking to you today. Thanks for posting info regarding special category.
It was great to talk with you too! Have a great day!
So how much is the amount of the supplement? How is it calculated? Using the example of 100k for an average hight 3.
Excellent.
Glad it was helpful!
Love your channel my friend. It’s a wealth of information for federal employees. I am nearing retirement and have a question I keep getting different answers for, so I’d thought I try the Guru of TSP.
Would I be eligible for the FERS supplemental at age 59 with 28 career years with the post office, 2 years as a Transitional employee carrier and 3 years of military service that I have already bought back the time for? Thank you
As long as you have at least 30 years of creditable service then yes
20 years and at least 50 years old for US Department of State, Foreign Service Specialists/Officers
Fers guide. Dan Jamison.
Ordered a copy, thank you
Could you elaborate on TSP withdrawals and penalties if retiring at 47 vs 50. Do you have to start withdrawals using a 72t, or can you have full access if you don’t touch it until 50?
If you meet all the requirements that you generally have full access after age 50. I am making a future video on TSP withdrawals and penalties. Stay tuned.
Good morning, I have a question about the two. I am currently fers and am wondering if I switch to a job with the special provisions will my time roll over from the regular fers as well?
Your regular FERS time will count as
@@PlanYourFederalBenefits i dont know if I misunderstand or if your answer got cut off? What would it count as?
@@PlanYourFederalBenefits can I please have clarification?
How does the earnings test work in this scenario: I just retired the end of last month, June 30, 2021. I've reached my MRA and I'm under Special Provisions. From this July to December, am I under the earning test? Does the earnings test for me start July 1st to December 31st, or can I earn as much as I want until December 31st? (I've already made 35K so far working for the Fed. Govt. from Jan. to June). Or....does it start the earnings test start next calender year, 2022? Thank you in advance.
Great video, I’ve watched a few of them and they have been right on the money (no pun intended). I just retired as a FERS LEO, age 55 with 20 years LEO, 8 years non-LEO. I got my retirement estimate and it reflects how my annuity is calculated, but how do you calculate the supplement?
I am glad they are helpful!
Great information as always.
Wow - this one hurt. I thought my 16 years of police would carry over when I had to transition to regular FERS, at least for annuity computation. That with the military penalty in computing SRS and thinking if I didn't already have over 30 years, I'd have been better off going contractor route. At least my investments are doing well, and if I can figure out if FEHB can be retained as an Expat, that would be nice. Perhaps if the push to have Medicare allow portability - many repatriate to their home countries, and things still might let me retire a year or two earlier than full SSI age.
Does rental income, interest income, or capital gains go against the earning test for FERS supplemental?
In most cases, these types of income are not counted as earned income.
I retired at 48 with 25 years as a LEO. I'll be 60 in October and still loving the early retirement. My question is when I turn 62 I lose the supplement. Do I have to start Social Security or can I postpone if I can afford it? Thanks for all of your videos.
If you don't need it take it at 62 and invest it. You'll make more money instead of waiting.
Yep, if you can hold off, do it. You’ll get more $$.
You aren’t required to take Social Security. OPM simply stops paying you the FERS Supplement on your 62nd birthday.
@@l.a.rivasesq.8841 Thanks for the answer. That's what I thought, but I just wanted to verify.
Barfield financial.