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AUTHOR ARCHIVES
Tammy Flanagan
Tammy Flanagan has spent 30 years helping federal employees take charge of their retirement by understanding their benefits. She runs her own consulting business at www.retirefederal.com and provides individual counseling as well as online training for the National Active and Retired Federal Employees Association, Plan Your Federal Retirement and the Federal Long Term Care insurance Program. She also serves as the senior benefits director for the National Institute of Transition Planning Inc., which conducts federal retirement planning workshops and seminars.
For more retirement planning help, tune in to "For Your Benefit," presented by the National Institute of Transition Planning Inc. live on Federal News Radio on Mondays at 10 a.m. ET on WFED AM 1500 in the Washington-metro area. Archived shows are available on NITPInc.com.
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Can You Count on Social Security?
April 18, 2019 If you ask a group of federal employees if they are counting on Social Security for their retirement, the younger the group is, the fewer the number of hands that are raised. Maybe it’s because they’ve been spooked by the following disclaimer, which appears on every Social Security statement: Your...
Trying to Retire During the Shutdown
April 11, 2019 In January, the Office of Personnel Management received 13,264 retirement claims, down from 14,590 in January 2018. In February, OPM received a little less than 11,000 claims, almost 2,500 fewer than the same month the year before. But then in March, when the partial government shutdown ended, more than 10,000...
De-Stressing the Retirement Process
April 4, 2019 For many federal employees, retirement means a time of reward for a long and dedicated career. Many people prepare for retirement with a sense of anticipation and excitement. The actual process of retiring, however, can be more stressful. It begins with formally filing your retirement application and ends when all...
The TSP and Your Retirement Date
March 28, 2019 Last week, we explored the topic of required minimum distributions from the Thrift Savings Plan and other retirement savings accounts. This week, let’s look at the specific issue of how TSP distributions can affect your decision about the date on which to retire. I recently received this email about a...
When and Why You Have to Take TSP Withdrawals
March 21, 2019 Under IRS regulations, when you reach a certain age, you must begin taking a required minimum distribution from your Thrift Savings Plan account or other retirement savings accounts each year. You generally have to start taking such withdrawals when you reach age 70½, unless you’re still working. This week, we’ll...
Weighing the Social Security Benefit Decision
March 14, 2019 The best time to start collecting your Social Security retirement benefits is when it’s best for you. There is no single age that’s optimal for everybody. There are reasons why it makes sense to start early and others why it might be a good idea to delay. At your first...
Annuities, Withdrawals and More
March 7, 2019 This week, we’re back with a few more questions and comments from readers, covering everything from Civil Service Retirement System and Federal Employees Retirement System coverage to TSP withdrawals. I was CSRS back in 1977 thru 1982. I received a refund of the retirement funds. I went back into the...
Comments, Questions and Answers
February 28, 2019 It is rewarding to know that the readers of this column are genuinely looking for help in planning for retirement. Each week, I always get plenty of follow-up questions and, in many cases, thoughtful answers from other readers. Last week’s retirement quiz generated some interesting and important questions and comments...
Federal Retirement Facts: A True-False Quiz
February 21, 2019 Regular readers of this column know that every so often, I surprise you with a pop quiz. Well, the time has come around again. Below are several statements about federal retirement benefits, Social Security, the Thrift Savings Plan and other subjects. It’s your job to determine which are true and...
Do You Need a Financial Adviser?
February 14, 2019 After conducting a webinar recently for the National Active and Retired Federal Employees Association called “Four Simple Steps to a Smooth Retirement,” I received dozens of requests for information about working with a financial adviser. I’m not a financial adviser myself, but I think it’s important to ask yourself the...
