TSP: Completing the TSP 17
You are required to complete the TSP 17 form so that the TSP can determine potential beneficiaries. The TSP 17 has several parts and must be completed with care.
Federal Benefits and Children
The child is deemed dependent where there is evidence that the deceased supported the child by making contributions on a regular and consistent basis sufficient to cause notable loss if no longer apparent.
Survivor Benefit
Individuals who were covered under the Federal Employees Retirement System (FERS) who pass away, their surviving spouse or former spouse may be entitled to a recurring monthly payment if certain qualifying conditions are met.
Former Spouse and Death
You might say what does a former spouse have to do with the business of the deceased federal employee. You might be surprised under certain circumstances, that the former spouse may have more to do with the business than you can imagine.
FERS and Deceased Employees
It is always a good idea to know what benefits are available to you in retirement and how those benefits work in retirement during your lifetime and in the event of your death.
Applying For Benefits – When A Federal Employee Dies
When a federal employee dies family members or representatives must apply for benefits. Benefits are not automatically distributed. The forms differ depending on the retirement system your deceased family member was a part of.
OPM: Reporting A Death – Federal Retirement Annuity
To report the death of a federal annuitant, you may call the Office of Personnel Management (OPM) or go online. If you don’t have all the information required to complete the online application, it is better to contact OPM via phone (202) 606-1800 so that they can direct you.
Retirement Cannot Be A Secret
Don’t go through the challenges of retirement alone. If you don’t feel comfortable talking to your family about your fears and anxieties, you can always get counseling from a career coach or some other professional familiar with the highs and lows people experience about retirement.
Save Don’t Spend
certainly the last 5 years before retirement is a time you should save like never before. These last 5 years should be seen as preparing to come into the home stretch of your retirement years.
Your Retirement Plan – Your GPS
It simply will not work to go through life depending on – comes what may. Just as our mortgages don’t automatically end when we retire, our lives also don’t end when we leave our places of employment. Having a retirement plan allows us to make changes as needed to balance the equation between income and expenses.
