Getting ready for federal retirement means putting plans in place for perhaps one of the biggest transitions you will make in your life. Some things you should consider if you are planning to retire in 5 years.
• Have a Federal Employee Benefit Analysis performed.
• Ask your employer exactly what they can do in terms of helping you with your retirement planning.  If they can’t do what you need – find a
- Also Read: 3 Major Retirement Planning Errors That Federal Employees Often Make—And How to Avoid Them
- Also Read: 3 Things Every Federal Employee Needs to Know About Divorce and How It Affects Their Retirement Plans
- Also Read: What Federal Workers Are Doing to Keep Their FEHB Coverage Affordable as Costs Continue to Climb
• Begin a planning process.
• Find out the process for keeping your FEHB (health benefits) after you retire.  Make sure that any FERS or CSRS Annuity decisions that you might be comtemplating won’t negatively impact your spouses FEHB eligibility.
• If you have not met the 5 year requirement to take your health insurance into retirement, check with OPM to see if the requirements can be waived.
• Compare the costs of your FEGLI (life insurance) against the cost of an individual policy (you might be pleasantly surprised how much you can save).
• Review your electronic official personnel folder (eOPF) to make certain all military and civilian service is recorded.
• You should also ask for a ‘Request for Earnings and Benefit Estimate Statement (Form SSA-7004-PC) – Social Security.
• Read up on the provisions of the Government Pension Offset.
• Make certain you are well briefed on the Windfall Elimination Provision.
P. S. Always Remember to Share What You Know.
