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Pros and Cons of the Military's Survivor Benefit Plan (SBP) Annuity
 
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Mitchell Hockenbury explains in plain English what many don't understand: the Pros and Cons of the Military's Survivor Benefit Plan (SBP) Annuity. Deciding to enroll in the SBP is a huge first decision once you retire. Make sure you know these pros and cons. Additional resources available at htttps://www.PersonalFinanceMadeCLear.com
Military Retirement - Survivor Benefit Plan Explained
 
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Military Survivor Benefit Plan should NOT be overlooked. The vast majority of retirees will benefit from enrolling in SPB. I explain why in this episode. https://militarypay.defense.gov/Benefits/Survivor-Benefit-Program/ https://militarypay.defense.gov/Benefits/Survivor-Benefit-Program/SBP-Worksheet/ ================================= GET ALL MY LATEST BLOGPOSTS: https://heritagewealthplanning.com If you like what you see, a thumbs up helps A LOT. It tells YouTube that people are engaged and so the Youtube algorithm will show the vide to others who may be interested in the content. So, give me a thumbs up, please! Don't forget to SUBSCRIBE by clicking here: https://www.youtube.com/channel/UCSEzy4i9xrKPoaU9z0_XbmA?sub_confirmation=1 Contact me: Josh@heritagewealthplanning.com GET MY BOOKS: Both are FREE to Kindle Unlimited Subscribers! The Tax Bomb In Your Retirement Accounts: How The Roth IRA Can Help You Avoid It https://amzn.to/2LHwQpt Strategic Money Planning: 8 Easy Ways To Put Your House In Order https://amzn.to/2wKGi50 PODCAST: https://itunes.apple.com/us/podcast/josh-scandlen-podcast/id1368065459?mt=2 http://heritagewealthplanning.com/category/podcasts/ LET'S SOCIALIZE! Facebook: http://Facebook.com/heritagewealthplanning Linkedin: https://www.linkedin.com/in/joshscandlen/ Quora: https://www.quora.com/profile/Josh-Scandlen Google +: https://plus.google.com/u/1/108893802372783791910
Explanation of Military's Survivor Benefit Plan (SBP)
 
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Mitchell Hockenbury explains in plain English what the Military's Survivor Benefit Plan (SBP) is all about. Learn what it is, learn why you should get the plan, and learn any pros and cons. After viewing, be sure to visit the official website for resources mentioned in the video. Official Site: www.PersonalFinanceMadeClear.com
Survivor Benefit Plan: Part 1 -- Why SBP?
 
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This video will cover commonly asked questions about the Survivor Benefit Plan. MOAA's Take 5 video series tackles commonly asked questions within the military community. Learn more at http://www.moaa.org/Take5
Views: 3467 TheMOAAChannel
It's open season for Survivor Benefit Program (SBP) coverage for former spouses
 
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It is now open season for remarried retirees with deceased former spouse SBP beneficiaries to register their new spouses. Retired Air Force Lt. Col. Shane Ostrom, MOAA's Deputy Director of Benefits and Financial Information, breaks down how to make sure you are properly registered.
Views: 933 TheMOAAChannel
Survivor Benefits In Retirement | FERS
 
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We provide benefit and retirement education to federal employees. Retirement Benefits Institute has trained over thousands of federal employees making it possible for many of these individuals to obtain personal consultation, assisting them in specific federal benefit planning to maximize their assets.
Episode 0009 - So, What is This Reduced Retirement Age Thing Anyway?
 
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Links: LES Request Tool (DFAS) (https://www.dfas.mil/customerservice/lesrequest.html) References: National Defense Authorization Act (NDAA) for Fiscal Year 2008, Section 647 – effective 28 January 2008 National Defense Authorization Act (NDAA) for Fiscal Year 2014 - effective 19 December 2013 10 USC § 101(a)(13)(B) 10 USC § 1074(b) 10 USC § 12301(a) 10 USC § 12301(d) 10 USC § 12302 10 USC § 12304 10 USC § 12304(a) 10 USC §12305 10 USC § 12406, chapter 15 10 USC § 12301(h) 10 USC § 12731(f)(2) 32 USC § 115 32 USC § 502(f) Department of Defense Instruction 1215.07 (with Change 1) – 23 September 2013 (http://www.rcretirement.com/docs/DODI_1215.07-20130923.pdf) Army Regulation 135-180 – Qualifying Service for Retired Pay (http://www.rcretirement.com/docs/AR_135-180.pdf) Army Regulation 600-8-7 – Retirement Services Program – 18 January 2017 (http://www.rcretirement.com/docs/AR_600-8-7_-_Retirement_Services_Program_-_20170118.pdf) National Guard Regulation 680-2 – Automated Retirement Points Accounting Management – 19 August 2011 (http://www.rcretirement.com/docs/NGR_680-2-19_-_Automated_Retirement_Points_Accounting_Management_-_20110819.pdf) Personnel Policy Operational Memo 13-029 – Implementation Guidance for Reduced Retirement Age for Army National Guard Soldiers - 05 August 2013 (http://www.rcretirement.com/docs/PPOM_13-029.pdf) Tricare.mil (http://www.tricare.mil) DFAS.mil (http://www.dfas.mil) Legal Disclaimer: R.C. Retirement is not recognized or endorsed by the Department of Defense, the Department of Veterans Affairs, or any government agency and is for informational and entertainment purposes only. The content on this site should not be considered professional financial advice. References to third party products, rates, and offers may change without notice. We may receive compensation through affiliate or advertising relationships from products mentioned on this site. However, we do not accept compensation for positive reviews; all reviews on this site represent the opinions of the author. The content presented is drawn and collated from the author's vast personal experience in military retirement as well as from military and civilian sources in the public domain. While every effort is made to deliver up to date and accurate information, we strongly recommend that you consult with an attorney and / or a financial planning professional familiar with your situation before making any decisions. First Call by Kevin MacLeod is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/by/4.0/) Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100862 Artist: http://incompetech.com/
Views: 316 RCRetirement
How To Pick Your FERS Retirement Date + 4 Mistakes To Avoid
 
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Learn how you can Pick Your FERS Retirement Date Like A Pro! There are 4 big mistakes that pre-retirees make when they decide to retire. Watch this video to learn how you can avoid these retirement blunders. ***Here’s the link for the Pick Your Retirement Date Like A Pro Checklist. You can download the checklist for free. Go to: https://www.fersblueprint.com/p/checklist This video is brought to you by the FERS Blueprint Online Retirement Training. We believe that it shouldn’t be so hard to get into retirement training, and that you should be able to learn when you want to and at your own pace. Now you can at the FERS Blueprint. Take a class today! https://www.fersblueprint.com ______________ Before you pick your retirement date, you need to know the answer to this question: When does your FERS pension actually start? This is an often-overlooked question because there’s lots of misinformation swirling around—not to mention some confusion from the CSRS rules. The FERS pension begins the first day of the following month after you retire. But there’s more to picking your FERS retirement date! Here are four mistakes that you’ll probably want to avoid. Mistake No 1: Giving Up Annual Leave When you retire, any Annual Leave that you “have on the books,” or haven’t used as vacation, is paid out to you in a one-time lump sum payment. But if you’re in a “use or lose” scenario with Annual Leave and want leave paid out at retirement, then you’ll NEED to retire on or before that year’s leave ending date. Otherwise, you’ll miss out on getting paid for that “use or lose” leave. OPM publishes a Leave Ending Date calendar here https://www.opm.gov/policy-data-oversight/pay-leave/leave-administration/fact-sheets/leave-year-beginning-and-ending-dates/ Mistake No 2: Paying More Income Taxes Unexpectedly If you’ve saved a lot of Annual Leave, you’re likely to get a pretty big check. That income is taxable, and it’s added to all your other earnings that year. This might cause you an unexpected and expensive tax bill. Consult with your tax professional. Mistake No 3: Losing TSP Monies to Penalties A lot people plan to use money from their TSP when they retire. But they aren’t too clear about age restrictions before they pick their retirement date. Normally, you must be at least 59 ½ year old to take monies out of your retirement savings account (like TSP or IRA). If you’re younger than that, you could have to pay an early age withdrawal penalty. There’s an exception for your TSP. If you separate from service in the year in which you turn 55 years or older, you can take withdrawals from TSP without any early age penalty. Here’s the TSP link to learn more: https://www.tsp.gov/PDF/formspubs/tsp-536.pdf Mistake No 4: Thinking that FERS starts Right Away Be prepared to wait because OPM’s retirement application processing time can vary quite a bit. The backlog can cause you to wait for an extended period. It can be a big mistake to retire without enough savings to take care of expenses. Keep in mind that TSP can take 4-6 weeks after you retire before you can request payments. It makes good financial sense to start retirement with at least four to six months of expenses in a saving account. Remember these tips when you’re picking your retirement date! If you’ll have “use or lose” leave, check the leave date calendar so that you don’t risk losing that extra leave! Talk with your tax professional about your tax planning. Decide how and when you’ll access your TSP funds. And, finally have enough saved up to wait while OPM processes your retirement application! To get a Pick Your Retirement Date Like A Pro Checklist, visit: https://www.fersblueprint.com/p/checklist This tutorial was brought to you by the FERS Blueprint—Online FERS Retirement Training. Learn more https://fersblueprint.com for more information. FERS Blueprint is an educational division of The Monroe Team, Inc. DUNS Number: 032 057260. CAGE Code: 735L3. NAICS Code: 611710 Educational Support Services. Woman-owned, small business. FERS Blueprint is not affiliated with, endorsed or sponsored by the Federal Government or any US Government agency. FERS Blueprint is educational only. No specific financial, retirement nor tax advice is being offered. The material presented is as current as possible, but is necessarily generalized. Facts and opinions are based on research and experience, but are not endorsed by the Federal Government. It is recommended to consult with your personnel office and/or the Office of Personnel Management (OPM) Retirement Office, Thrift Savings Plan, Social Security, Medicare, Internal Revenue Service, your legal, tax and/or other advisor(s). © 2017. The Monroe Team, Inc.
4 common mistakes made by federal employees prior to retirement
 
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Few people in this world want to spend the remainder of their lives working. In fact, most of us look forward to retirement. We address 4 retirement planning mistakes and how each mistake could impact a federal retiree’s retirement.
7 Keys to Maximizing Social Security Benefits for Retirees
 
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Maximizing social security benefits and more at http://mark-geraci.com - The 7 keys to help maximize social security benefits for retirees are reviewed in video. Topics covered include medicare, tax planning and spousal and survivor benefits. http://www.youtube.com/watch?v=ENiP1kfiIJI Video created from Powerpoint slides with a 20 sec. automatic interval. Feel free to skip ahead or pause to review a slide of interest. To schedule a private client consultation, email mark.geraci@lpl.com or call (847) 469-8195 or write to: LPL Financial - Mark Geraci Jr. 25782 W. West Dr. Wauconda, IL 60084 Securities offered through LPL Financial, Member FINRA/SIPC The LPL Financial Registered Representative associated with this page may only discuss, and/or transact business with residents of the following states: IL, NC, NM, WI Third party posts found on this profile do not reflect the views of LPL Financial and have not been reviewed by LPL Financial as to accuracy or completeness.
Views: 347 Mark Geraci Jr.
Understanding Your Retirement Benefit Options
 
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Retirement is a significant milestone and can be the beginning of one of the best phases of your life. In this webinar learn about the retirement benefit options offered by CalPERS.
Views: 12370 CalPERS
Episode 0030 - How to Read an Navy Reserve Retirement Points Statement
 
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References: How to Read an Navy Reserve Retirement Points Statement (http://www.rcretirement.com/docs/How_to_Read_a_USNR_Retirement_Points_Statement.pdf) Sample Statement of Service (http://www.rcretirement.com/docs/Sample_USNR_Retirement_Points_Statement.pdf) BUPERS Online (https://www.bol.navy.mil/) How to Pull a Copy of Your Statement of Service (Pending) () Related YouTube Articles: Article 0004- The Notice of Eligibility for Retired Pay (Twenty-Year Letter) (https://youtu.be/mM1Tmu1uOrM) Article 0005 - The Basics of the Reserve Component Survivor Benefit Plan (RCSBP) (https://youtu.be/Ktxv-IV5TYY) Article 0014 - Calculating Retired Pay Under the Current (Legacy) Retirement Plan (https://youtu.be/yohuN8JNVvo) Article 0009 - So, What is This Reduced Retirement Age Thing Anyway? (https://youtu.be/xnyvtpCihRU) Related Podcast Articles: Podcast Article 0002 – The Notice of Eligibility for Retired Pay (Twenty-Year Letter) (http://www.rcretirement.com/podcasts/2017/RCRetirement-Episode_0002-20YR_NOE-20170201.mp3) Podcast Article 0003 – The Basics of the Reserve Component Survivor Benefit Plan (RCSBP) (http://www.rcretirement.com/podcasts/2017/RCRetirement-Episode_0003-Basics_of_RCSBP-20170209.mp3) Podcast Article 0012 – Calculating Retired Pay Under the Current (Legacy) Retirement Plan (http://www.rcretirement.com/podcasts/2017/RCRetirement-Episode_0012-Calculate-Retired-Pay-Under-MilRS-20170413.mp3) Podcast Article 0007 – So, What is This Reduced Retirement Age Thing Anyway? (http://www.rcretirement.com/podcasts/2017/RCRetirement-Episode_0007-So-What-Is-This-Reduced-Retirement-Age-Thing-Anyway-20170309.mp3) Related Articles: The Notice of Eligibility for Retired Pay (Twenty-Year Letter) (http://rcretirement.com/2017/02/03/the-notice-of-eligibility-for-retired-pay-twenty-year-letter/) The Basics of the Reserve Component Survivor Benefit Plan (RCSBP) (http://rcretirement.com/2017/02/10/the-basics-of-the-reserve-component-survivor-benefit-plan-rcsbp/) When Do I Make an Election for the Reserve Component Survivor Benefit Plan? (http://rcretirement.com/2017/02/10/when-do-i-make-an-election-for-the-reserve-component-survivor-benefit-plan/) How Much Will the RCSBP Pay to My Beneficiaries and What Will It Cost Me? (http://rcretirement.com/2017/02/10/how-much-will-the-rcsbp-pay-to-my-beneficiaries-and-what-will-it-cost-me/) Should I Buy a Life Insurance Policy Instead of Choosing the Reserve Component Survivor Benefit Plan? (http://rcretirement.com/2017/02/10/should-i-buy-a-life-insurance-policy-instead-of-choosing-the-reserve-component-survivor-benefit-plan/) What Are the Advantages and Disadvantages of the Reserve Component Survivor Benefit Plan? (http://rcretirement.com/2017/02/10/what-are-the-advantages-and-disadvantages-of-the-reserve-component-survivor-benefit-plan/) What Are the Coverage Options for the Reserve Component Survivor Benefit Plan? (http://rcretirement.com/2017/02/10/what-are-the-coverage-options-for-the-reserve-component-survivor-benefit-plan/) Who Can Be Beneficiaries of the Reserve Component Survivor Benefit Plan? (http://rcretirement.com/2017/02/10/who-can-be-beneficiaries-of-the-reserve-component-survivor-benefit-plan/) How Do I Enroll in the Reserve Component Survivor Benefit Plan? (http://rcretirement.com/2017/02/10/how-do-i-enroll-in-the-reserve-component-survivor-benefit-plan/) Calculating Retired Pay Under the Current (Legacy) Retirement Plan (http://rcretirement.com/2017/04/14/calculating-retired-pay-under-the-current-legacy-retirement-plan/) So, What is This Reduced Retirement Age Thing Anyway? – Part 1 (http://rcretirement.com/2017/03/10/so-what-is-this-reduced-retirement-age-thing-anyway-part-1/) So, What is This Reduced Retirement Age Thing Anyway? – Part 2 (http://rcretirement.com/2017/03/10/so-what-is-this-reduced-retirement-age-thing-anyway-part-2/) First Call by Kevin MacLeod is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/by/4.0/) Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100862 Artist: http://incompetech.com/
Views: 176 RCRetirement
Blended Retirement System /  Survivor Benefit Plan (2018)
 
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As of today, (5/13/2018) ANYONE who joins the US Military will do so under the new retirement plan, the "Blended Retirement System". As someone who served 3+ years on active duty in the infantry and another 4 in the National Guard, I am fond of the new rules. After all, the VAST majority of servicemen and women do NOT stay the full 20 years and receive NO benefits at all upon separating from service. (Yes, they get the VA Loan and college benefits but no medical or retirement benefits.) The new system will reward service personnel for completing their first tour or two without having to commit to remaining the service for another decade and a half or so. This is good. Also, as an incentive to keep senior personnel who've served 12 years, think NCO's, they will receive a Continuation Bonus when they sign on for another 4 years. These NCO's are the backbone of our fighting force and we need for them to continue to serve. They are irreplaceable. So, giving them bonuses as an incentive to re-up is good for them, and for our country. Yeah, there will be a reduced pension for those who stay in for 20 yrs or more. But that COULD be more than made up by 5% match on the TSP. That's a trade-off I'd take in a heartbeat. On a secondary topic, I discuss pensioners in their decision to take the Survivor Benefit Plan (SBP) or not. The SBP is nothing more than a premium payment the retiree makes to allow for his/her surviving spouse to receive 55% of the retiree's benefit at death. The premium isn't cheap. So, it's imperative the retiree consider ALL options before signing on OR rejecting the offer. Some folks will opt to not take the SBP and instead buy a life insurance policy. This MAY work. But if it doesn't you could be leaving your surviving spouse in a world of hurt if you die. Proceed. With. Caution here folks. Understand the ins and outs of ALL options. http://militarypay.defense.gov/BlendedRetirement/ https://www.usaa.com/inet/pages/insurance_life_military_benefits?akredirect=true ================================= If you like what you see, a thumbs up helps A LOT. So, give me a thumbs up, please! Don't forget to SUBSCRIBE by clicking here: https://www.youtube.com/channel/UCSEzy4i9xrKPoaU9z0_XbmA?sub_confirmation=1 GET MY BOOK: Strategic Money Planning: 8 Easy Ways To Put Your House In Order It's FREE if you're a Kindle Unlimited Subscriber! https://amzn.to/2wKGi50 GET ALL MY LATEST BLOGPOSTS: http://heritagewealthplanning.com/blog/ PODCAST: https://itunes.apple.com/us/podcast/josh-scandlen-podcast/id1368065459?mt=2 LET'S SOCIALIZE! Facebook: http://Facebook.com/heritagewealthplanning Linkedin: https://www.linkedin.com/in/joshscandlen/ Quora: https://www.quora.com/profile/Josh-Scandlen Google +: https://plus.google.com/u/1/108893802372783791910
Death of a Retiree
 
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As part of our 'Life Events after Retirement' video series, Retirement Services Representative Glenn what should be done upon the Death of a Retiree.
Views: 46262 USOPM
Episode 0006 - The Basics of the Survivor Benefit Plan (SBP)
 
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Today, I will discuss the basics of the Survivor Benefit Plan, the big sister of the Reserve Component Survivor Benefit Plan. References: 10 USC Subtitle A, Part II, Chapter 73, Subchapter II: Survivor Benefit Plan http://uscode.house.gov/view.xhtml?path=/prelim@title10/subtitleA/part2/chapter73&edition=prelim) Survivor Benefit Plan (Defense Finance and Accounting Service) (https://www.dfas.mil/retiredmilitary/provide/sbp.html) Advantages and Disadvantages of RCSBP / SBP (https://www.dfas.mil/retiredmilitary/provide/sbp/advantages.html) RCSBP Fact Sheet (http://www.rcretirement.com/docs/RCSBP_Fact_Sheet.pdf) $550 per month from SBP Compared to $100,000 Life Insurance: How Long Will It Last? (http://www.rcretirement.com/docs/SBP_vs_LI_550.pdf) $2200 per month from SBP Compared to $100,000 Life Insurance: How Long Will It Last? (http://www.rcretirement.com/docs/SBP_vs_LI_2200.pdf) DD Form 2656 – Data for Payment of Retired Personnel (http://www.rcretirement.com/docs/dd2656.pdf) CG Form 4700 – Coast Guard, PHS, & NOAA Retired Pay Account Worksheet and Survivor Benefit Plan Election (http://www.rcretirement.com/docs/CG_4700.pdf) Related YouTube Episodes: The Basics of Reserve Retirement (http://rcretirement.com/2017/01/18/the-basics-of-reserve-retirement/) The Notice of Basic Eligibility for Retired Pay (Twenty-Year Letter) (http://rcretirement.com/2017/02/01/episode-0004-the-notice-of-eligibility-for-retired-pay-twenty-year-letter/) The Basics of the Reserve Component Survivor Benefit Plan (http://rcretirement.com/2017/02/09/youtube-episode-0005-the-basics-of-the-reserve-component-survivor-benefit-plan-rcsbp/) Disclaimer: R.C. Retirement is not recognized or endorsed by the Department of Defense, the Department of Veterans Affairs, or any government agency and is for informational and entertainment purposes only. The content on this site should not be considered professional financial advice. References to third party products, rates, and offers may change without notice. We may receive compensation through affiliate or advertising relationships from products mentioned on this site. However, we do not accept compensation for positive reviews; all reviews on this site represent the opinions of the author. The content presented is drawn and collated from the author's vast personal experience in military retirement as well as from military and civilian sources in the public domain. While every effort is made to deliver up to date and accurate information, we strongly recommend that you consult with an attorney and / or a financial planning professional familiar with your situation before making any decisions. First Call by Kevin MacLeod is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/by/4.0/) Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100862 Artist: http://incompetech.com/
Views: 626 RCRetirement
An Assessment of the Military Survivor Benefit Plan | by Military Times
 
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► An Assessment of the Military Survivor Benefit Plan | by Military Times ► Research Questions What are the purposes of SBP, and how does it interact with other federal program... ► SUBSCRIBE 4 More ....... : https://goo.gl/7BeyGH ► Facebook Fanpage ........: https://goo.gl/oxA42Q ► Twitter ................................: https://goo.gl/aq3hHK ► Google plus ......................: https://goo.gl/yyXg3J ► Photo & Content Source : http://c.newsnow.co.uk/A/2/926043375?-: ========================================= ► The trusted, independent source for news and information for the Military Times community. ... Military Times is published by Sightline Media Group. Sightline is the latest of three company names, starting with Army Times Publishing Co. in 1940. ► Videos can use content-based copyright law contains reasonable use Fair Use (https://www..com/yt/copyright/). ► With the above criteria, if there is any breach of the principles of Community, law on copyright then please comment on the video
Views: 26 Military Times
Episode 0063 - How Can I Withdraw from the Survivor Benefit Plan?
 
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References: • Survivor Benefit Plan (10 USC, Chapter 73, Subchapter II) (http://www.rcretirement.com/docs/10_USC_Chapter_73_Subchapter_II_Survivor_Benefit_Plan-20180225.pdf) • Withdrawal from SBP for Total VA Disability Rating (http://www.retirees.af.mil/Library/Fact-Sheets/Display/Article/440092/withdrawal-from-sbp-for-total-va-disability-rating/) • DD Form 2656-2 – Survivor Benefit Plan (SBP) Termination Request (April 2009) (http://www.rcretirement.com/docs/dd2656-2.pdf) • Generic Life Insurance Quote - $500,000 in Proceeds, 10 Year Level Term (http://www.rcretirement.com/docs/LI_Quote_500000_10_Level_Term.pdf) • Generic Life Insurance Quote - $500,000 in Proceeds, 20 Year Level Term (http://www.rcretirement.com/docs/LI_Quote_500000_20_Level_Term.pdf) • Generic Life Insurance Quote - $500,000 in Proceeds, 30 Year Level Term (http://www.rcretirement.com/docs/LI_Quote_500000_30_Level_Term.pdf) • Generic Life Insurance Quote - $2,000,000 in Proceeds, 10 Year Level Term (http://www.rcretirement.com/docs/LI_Quote_2000000_10_Level_Term.pdf) • Generic Life Insurance Quote - $2,000,000 in Proceeds, 20 Year Level Term (http://www.rcretirement.com/docs/LI_Quote_2000000_20_Level_Term.pdf) • Generic Life Insurance Quote - $2,000,000 in Proceeds, 30 Year Level Term (http://www.rcretirement.com/docs/LI_Quote_2000000_30_Level_Term.pdf) • Comparison of Total Value of $550 per month SBP Annuity versus $100,000 Life Insurance Policy (http://www.rcretirement.com/docs/SBP_vs_LI_550.pdf) • Comparison of Total Value of $2,200 per month SBP Annuity versus $100,000 Life Insurance Policy (http://www.rcretirement.com/docs/SBP_vs_LI_2200.pdf) Related YouTube Episodes: • The Basics of the Reserve Component Survivor Benefit Plan (RCSBP) (https://youtu.be/Ktxv-IV5TYY) • Updating Survivor Benefit Elections (The Sad Story of Staff Sergeant Walker) (https://youtu.be/CmXj2OfexDo) • Should I Pay for SBP or Buy a Life Insurance Policy? (https://youtu.be/cdvn705kWrM) Related Podcast Episodes: • The Basics of the Reserve Component Survivor Benefit Plan (RCSBP) (http://www.rcretirement.com/podcasts/2017/RCRetirement-Episode_0003-Basics_of_RCSBP-20170209.mp3) • Updating Survivor Benefit Elections (The Sad Story of Staff Sergeant Walker) (http://www.rcretirement.com/podcasts/2018/RCRetirement-Episode_0049-Updating-Survivor-Benefit-Elections-The-Sad-Story-of-SSG-Walker-20180111.mp3) Related Articles: • The Basics of the Reserve Component Survivor Benefit Plan (RCSBP) (http://rcretirement.com/2017/02/10/the-basics-of-the-reserve-component-survivor-benefit-plan-rcsbp/) • When Do I Make an Election for the Reserve Component Survivor Benefit Plan? (http://rcretirement.com/2017/02/10/when-do-i-make-an-election-for-the-reserve-component-survivor-benefit-plan/) • How Much Will the RCSBP Pay to My Beneficiaries and What Will It Cost Me? (http://rcretirement.com/2017/02/10/how-much-will-the-rcsbp-pay-to-my-beneficiaries-and-what-will-it-cost-me/) • Should I Buy a Life Insurance Policy Instead of Choosing the Reserve Component Survivor Benefit Plan? (http://rcretirement.com/2017/02/10/should-i-buy-a-life-insurance-policy-instead-of-choosing-the-reserve-component-survivor-benefit-plan/) • What Are the Advantages and Disadvantages of the Reserve Component Survivor Benefit Plan? (http://rcretirement.com/2017/02/10/what-are-the-advantages-and-disadvantages-of-the-reserve-component-survivor-benefit-plan/) • What Are the Coverage Options for the Reserve Component Survivor Benefit Plan? (http://rcretirement.com/2017/02/10/what-are-the-coverage-options-for-the-reserve-component-survivor-benefit-plan/) • Who Can Be Beneficiaries of the Reserve Component Survivor Benefit Plan? (http://rcretirement.com/2017/02/10/who-can-be-beneficiaries-of-the-reserve-component-survivor-benefit-plan/) • How Do I Enroll in the Reserve Component Survivor Benefit Plan? (http://rcretirement.com/2017/02/10/how-do-i-enroll-in-the-reserve-component-survivor-benefit-plan/) • Updating Survivor Benefit Elections (The Sad Story of Staff Sergeant Walker) (http://rcretirement.com/2018/01/12/updating-survivor-benefit-elections-the-sad-story-of-ssg-walker/) First Call by Kevin MacLeod is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/by/4.0/) Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100862 Artist: http://incompetech.com/ Want to support this channel financially? Contribute crypto at these addresses: BTC 1Ehq9nb6e7qRV2Nmhq6ZjP7Loe3Yu3EmPv BCH 1ADNL3FibWAy7BPZxf8q3TLZKivkQPLHTv BAT 0x5e434003f70013f21cb323db1d279cfd4b120946 ETH 0x5e434003f70013f21cb323db1d279cfd4b120946 LTC Lh4ZqHQmCsMobLHGxRBYe3RQm8Z6vBMdzM Dash XsPQj6BbWhF3Y1VBbq7R9rPiYDnCjtg1rr Dogecoin DJHDH46gcMXMdfgWEej95f2uCx53tZcLxm ZCash t1ezJAxSb1yBcbvKh4we7fKvddNMftq9EZG
Views: 36 RCRetirement
Report says military's Survivor Benefit Plan 'compares well,' irking widows still hit by offset | b
 
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► Report says military's Survivor Benefit Plan 'compares well,' irking widows still hit by offset | by Military Times ► Military retirees, their spouses and perhaps 80 percent of 320,000 survivors already able to draw be... ► SUBSCRIBE 4 More ....... : https://goo.gl/7BeyGH ► Facebook Fanpage ........: https://goo.gl/oxA42Q ► Twitter ................................: https://goo.gl/aq3hHK ► Google plus ......................: https://goo.gl/yyXg3J ► Photo & Content Source : http://c.newsnow.co.uk/A/2/936223250?-: ========================================= ► The trusted, independent source for news and information for the Military Times community. ... Military Times is published by Sightline Media Group. Sightline is the latest of three company names, starting with Army Times Publishing Co. in 1940. ► Videos can use content-based copyright law contains reasonable use Fair Use (https://www..com/yt/copyright/). ► With the above criteria, if there is any breach of the principles of Community, law on copyright then please comment on the video
Views: 9 Military Times
Maximizing Social Security Retirement Benefits
 
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5 minute lesson on Social Security Retirement Benefits FREE ANALYSIS https://www.martinsenequitygroup.com/
Views: 16314 Lane Martinsen
Reviewing Your Retirement Plan
 
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AFSA presents our second retiree webinar at held on Thursday, March 22 with the presentation “Reviewing your Retirement Plan”. This presentation, led by former director of the Department of State’s Office of Retirement John Naland, reviewed the topics listed below to help determine if any mid-course corrections are needed in your retirement plans: Beneficiary designations Divorce and FS retirement benefits Survivor benefits Life insurance after retirement Estate planning documents Medicare Part B TSP: stocks vs bonds Social Security: when to start Long-term care insurance Federal re-employment after retirement Updating your annuity records Retirement information resources AFSA member assistance Threats to future retirement benefits
Views: 395 AFSAtube
NCNG Retirement Services, DD Form 108 (Application for Retired Pay Benefits)
 
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DD Form 108 (Application for Retired Pay Benefits): http://www.nc.ngb.army.mil/Services/Pages/Retirees.aspx M-Day/Traditional Retirement Services The North Carolina National Guard Retirement Section provides information on benefits and entitlements in order to prepare Soldiers and their families for retirement. This section also ensures the understanding of the Reserve Component Survivor Benefit Plan (RC-SBP) Program. Once you receive your 20 year letter you have 4 options that will impact your retirement pay and benefits. These options are; retired reserve, discharge, remain in the guard, and the stand by reserve. Planning for Retirement Before 20 Years of Service If you are planning on retirement from the National Guard there is some information you should know before you reach 20 years of service. In order to earn the maximum retired pay at age 60 you should start planning for retirement early to earn the maximum retirement point each year. Click for more information: Army, Air Guard 20 Years of Service Information Once you have completed 20 years of service you should learn about your retirement benefits. Some of these benefits must be claimed within 90 days of receiving your 20 year letter. Click for more information: Army, Air Guard Gray Area Retirees Gray area Retirees are soldiers who have completed 20 years of service but have not reached the age for retired pay. While in this period there is some information on benefits you should know. Click for more information. Army, Air Guard Applying For Retirement Pay Soldiers who have completed 20 years of service and reached the age to receive retired pay must submit a packet. Retirement pay is not automatic and must be applied for. Some soldiers are eligible to receive pay earlier than age 60. Click for more information: Army, Air Guard TRICARE at age 60 and ID Cards Once you reach age 60 and apply for retired pay you will await a response from HRC Ft Knox for your approval letter. This letter is what you will take with you, and your spouse if applicable, to any ID Card facility to receive your retired ID card(s). Once there, you will also verify that your DEERS enrollment is correct. This is important because you are now eligible and enrolled into Tricare Standard with the option to upgrade to Tricare Prime based off your home of record. There are no monthly premiums with Tricare standard. You as the retiree will be responsible for any co-pays. At age 65 you become eligible for Medicare Part B, and your Tricare transitions to Tricare for Life. The Retirement Office recommends enrolling in Medicare Part B because as soon as you are eligible for Medicare Part B, Tricare becomes secondary. The advantage of enrolling in Medicare Part B is that Medicare will file to Tricare for you when it has completed its payments. If you have any other insurance, you as the customer will be responsible for filing to Tricare for the remainder of any charges accrued.
Views: 4482 NCNationalGuard
20151209 - Concurrent Receipt of Survivor Benefit Plan (SBP)... (ID: 104224)
 
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Subcommittee on Military Personnel 20151209 - Concurrent Receipt of Survivor Benefit Plan (SBP) & Dependency and Indemnity Compensation (DIC)
How to Retire Early as a Federal Employee!
 
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↓↓ HOW TO RETIRE EARLY E-BOOK BELOW↓↓ http://www.fedretirementplanning.com/how-to-retire-early-as-a-federal-employee/ Too many federal employees have the limiting belief that they have to wait until their 60's to retire. What if I told you that you could retire early, in your 40's even and still do so comfortably? Here's how. ► Subscribe to My Channel Here: https://www.youtube.com/channel/UC8bWrSS2BdaQGtc1mq45Z6g?sub_confirmation=1 -- Cooper Mitchell helps federal employees better understand their benefits and helps them retire on their terms. Using financial planning and investment management, Cooper is able to tackle the issues that are unique to federal employees. Cooper is also a public speaker who is available for various federal conferences and events. Find Cooper here: Website: http://fedretirementplanning.com Work with Cooper: http://http://www.fedretirementplanning.com/work-with-cooper/ Facebook: https://www.facebook.com/fedretirementplanning/ Email: cooper@fedretirementplanning.com -- As always, enjoy, and please subscribe! -- © Copyright Fed Retirement Planning 2017, All Rights Reserved
What Is Survivors Benefit?
 
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Html "imx0m" url? Q webcache. The monthly amount you would get is a percentage of the deceased's basic social security benefit importance survivors insuranceif you're working what need to know about benefitswhen relative dies for your widow or widower. Survivor benefits ontario teachers' pension plan. Survivor's benefit states of jerseysurvivor benefits survivor plan dfas. Survivors pension veterans benefits administration. Your 2017 guide to social security survivors benefits the motley receiving canada pension plan survivor and more. There are about 5 million widows and widowers receiving monthly social security benefits based on their deceased spouse's earnings record. If you are the survivor. I'm single and my children are no longer eligible for a survivor pension. Social security survivors benefit plan for loss of a spouse kiplinger. And, for many of those survivors, particularly aged women, benefits are keeping them out poverty 8 jan 2018 if neither you had started yet, and wait until your survivor full retirement age (likely 66 or 67) older to apply widow widower benefits, will receive 100 percent deceased spouse's basic benefit amount a can monthly based on the earnings records their spouse 27 apr although best known social security actually pays four retirement, disability, family. The more they paid into social security, the higher your benefits would be. If you are the survivor benefits planner survivors. Who qualifies for social security survivor benefits? Survivor benefit program overview military compensation. Gov planners survivors ifyou. Will my estate receive something instead? If you have no eligible 4 apr 2018 boosting the survivor benefit is a key reason that experts recommend delaying claiming benefits until age 70, particularly for higher earning wiser nonprofit organization works to help women, educators and policymakers understand important issues surrounding women's retirement are. How social security survivor benefits work survivor's pension canada. Googleusercontent searchyour survivors benefit amount would be based on the earnings of person who died. Pensions and survivor benefits wiser women. Social security survivors benefits social securityplanning for your. There are two benefits that the national insurance survivors' benefit is a periodical payment made to specific dependents of an insured person who dies otherwise than by way survivor overview. Social security benefits planner survivors. We make it easy to understand what the multiple benefits available surviving family members of deceased veterans 20 mar 2015 survivor benefit plan provides eligible survivors military retirees with a monthly payment for lifetime beneficiary 4 jun 2017 social security is more than just retirement and disability. If your husband, wife or civil partner dies, you may be entitled to receive a survivor's benefit. Social security survivor benefits provide income for the families of workers who are deceased 30 aug 2017 canada pension
Views: 11 E Answers
Life As A RETIRED Military Member
 
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For some of us, the dream is to get to a military retirement. My friend just retired and he's really enjoying the next chapter of his life.
Views: 1753 YOUR Military Money
NCNG Retirement Services, DD 2656 (Data for Payment of Retired Personnel)
 
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The DD 2656 is the Federal Retirement Pension Application. It's a two page form that covers Admin Info, Banking Info, SBP elections, and amounts. http://www.nc.ngb.army.mil/Services/Pages/Retirees.aspx M-Day/Traditional Retirement Services The North Carolina National Guard Retirement Section provides information on benefits and entitlements in order to prepare Soldiers and their families for retirement. This section also ensures the understanding of the Reserve Component Survivor Benefit Plan (RC-SBP) Program. Once you receive your 20 year letter you have 4 options that will impact your retirement pay and benefits. These options are; retired reserve, discharge, remain in the guard, and the stand by reserve. Planning for Retirement Before 20 Years of Service If you are planning on retirement from the National Guard there is some information you should know before you reach 20 years of service. In order to earn the maximum retired pay at age 60 you should start planning for retirement early to earn the maximum retirement point each year. Click for more information: Army, Air Guard 20 Years of Service Information Once you have completed 20 years of service you should learn about your retirement benefits. Some of these benefits must be claimed within 90 days of receiving your 20 year letter. Click for more information: Army, Air Guard Gray Area Retirees Gray area Retirees are soldiers who have completed 20 years of service but have not reached the age for retired pay. While in this period there is some information on benefits you should know. Click for more information. Army, Air Guard Applying For Retirement Pay Soldiers who have completed 20 years of service and reached the age to receive retired pay must submit a packet. Retirement pay is not automatic and must be applied for. Some soldiers are eligible to receive pay earlier than age 60. Click for more information: Army, Air Guard TRICARE at age 60 and ID Cards Once you reach age 60 and apply for retired pay you will await a response from HRC Ft Knox for your approval letter. This letter is what you will take with you, and your spouse if applicable, to any ID Card facility to receive your retired ID card(s). Once there, you will also verify that your DEERS enrollment is correct. This is important because you are now eligible and enrolled into Tricare Standard with the option to upgrade to Tricare Prime based off your home of record. There are no monthly premiums with Tricare standard. You as the retiree will be responsible for any co-pays. At age 65 you become eligible for Medicare Part B, and your Tricare transitions to Tricare for Life. The Retirement Office recommends enrolling in Medicare Part B because as soon as you are eligible for Medicare Part B, Tricare becomes secondary. The advantage of enrolling in Medicare Part B is that Medicare will file to Tricare for you when it has completed its payments. If you have any other insurance, you as the customer will be responsible for filing to Tricare for the remainder of any charges accrued.
Views: 5781 NCNationalGuard
FERS Retirement Benefits Explained (A quick guide for busy employees)
 
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“You work for the government. You must have a great retirement!” As a FERS employee, you have 7 distinct retirement benefits to help you retire comfortably! Here's a quick guide to help you understand more about each benefit. ****To help you keep track of these benefits, I have this super simple and handy FERS benefit guide—I call it the The 7 Superheroes of FERS Retirement Benefits. You can get it free. Just go to https://www.fersblueprint.com/p/seven. This video is brought to you by the FERS Blueprint Online Retirement Training. We believe that it shouldn’t be so hard to get into retirement training, and that you should be able to learn when you want to and at your own pace. Now you can at the FERS Blueprint. Take a class today! https://www.fersblueprint.com ______________ It’s helpful to think of the benefits in terms of what they do for you in retirement. The first three benefits are income-based, which means money in your pocket. The next four benefits are insurance-based, which means “rainy day” protection for you and your family. Each benefit is subject to eligibility requirements. 1 FERS PENSION. You can get a monthly check from the FERS pension for as long as you live in retirement. Plus, there’s a benefit for your spouse if you pass away first. The amount you get in retirement is based upon how long you worked for the Federal government, what age you retire and how much you earned. There is an additional benefit that you may receive called FERS Supplement (sometimes it’s referred to as the “Social Security” Supplement). It’s only for eligible, long-term employees who retire under age 62. This is a separate benefit from FERS pension. 2 SOCIAL SECURITY. You can get a monthly check for as long as you live, with a potential benefit for your spouse if you pass away first. The amount you receive from Social Security is based upon how much money you earned over your entire work history (not just Federal employment) and at what age you are when you start receiving your benefit. You can start receiving your benefit as young as 62, but your benefit will be permanently reduced. The older you are, the more you’ll receive each month (maximum at age 70). 3 THRIFT SAVINGS PLAN. TSP is a different from FERS and Social Security. That’s because it’s a retirement savings plan—the amount you get from TSP is based upon how much you saved, your FERS Match and how the investments performed. You can choose to receive a monthly check from TSP, but there are also many other ways to set up income from TSP in retirement. Keep in mind that there are IRS age requirements. TSP offers a Traditional TSP and a Roth TSP. The investment options remain the same in retirement. 4 FEDERAL EMPLOYEES HEALTH BENEFITS (FEHB). This benefit provides health insurance for you, your spouse and eligible dependents that you can take into retirement. The share of cost and choices stay the same in retirement. You, as the employee, must meet eligibility requirements. 5 FEDERAL EMPLOYEES DENTAL AND VISION INSURANCE PROGRAM (FEDVIP). This benefit provides dental and/or vision insurance for you, your spouse and eligible dependents that you can take into retirement. The share of cost and choices stay the same in retirement. 6 FEDERAL EMPLOYEES GROUP LIFE INSURANCE (FEGLI). This benefit provides life insurance for you, your spouse and eligible dependents that you can take into retirement. The share of cost may change; however, there are flexible choices to suit your needs. Some options may even be free of charge in retirement. You, your spouse, and eligible dependents must meet eligibility requirements. 7 FEDERAL LONG TERM CARE INSURANCE PROGRAM (FLTCiP). This benefit provides long term care insurance coverage for you, your spouse and eligible family members. You can take existing coverage with you into retirement; or apply for coverage after you retire. Coverage subject to underwriting approval at time of application ______________________________ PROJECT Prepare2Retire is an educational division of The Monroe Team, Inc. DUNS Number: 032 057260. CAGE Code: 735L3. NAICS Code: 611710 Educational Support Services. Woman-owned, small business. PROJECT Prepare2Retire and FERS Blueprint are not affiliated with, endorsed or sponsored by the Federal Government or any US Government agency. PROJECT Prepare2Retire and FERS Blueprint are educational only. No specific financial, retirement nor tax advice is being offered. The material presented is as current as possible, but is necessarily generalized. Facts and opinions are based on research and experience, but are not endorsed by the Federal Government. It is recommended to consult with your personnel office and/or the Office of Personnel Management (OPM) Retirement Office, Thrift Savings Plan, Social Security, Medicare, Internal Revenue Service, your legal, tax and/or other advisor(s). © 2017. The Monroe Team, Inc.
What are other benefits available to the military that can affect retirement security?
 
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We look at some issues regarding military benefits. We learn about survivor benefit plans, veteran's group life insurance, and the GI bill transferability provisions for children.
Views: 906 NYLCRI
Retired Military Personnel in Concurrent Receipt Status
 
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How to coordinate the military retirement rules, the VA eligibility rules, and the income tax rules.
Views: 5319 Davis Nelson
Different Type of Pension Election Options available for a US Defined Benefit Plan
 
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Types of Retirement Plan Benefits for a - U.S. Defined Benefit Plan The type of benefits paid from a retirement plan is based on: the distribution options available under the plan, and elections made by participants and their beneficiaries. Defined contribution plans - 401(k), profit-sharing, and other defined contribution plans generally pay retirement benefits in a lump sum or installments. Defined benefit plans - The normal method of distribution is an annuity paid over the employee’s life or the joint lives of the employee and his or her spouse (unless they elect otherwise). Lump-sum payment A plan can make a lump-sum distribution of a participant’s or beneficiary’s entire accrued vested benefit without consent (a cash-out) if the benefit is $5,000 or less. If the benefit is more than $5,000, a lump-sum distribution can only be made with the participant’s (and spouse’s, if applicable) written consent. Installment payments Installment payments are made are regular intervals, for a definite period (such as 5 or 10 years) or in a specified amount (for example, $2,000 a month) to continue until the account is depleted. Annuity payments Annuity payments are made from a defined benefit plan or under a contract purchased by a defined contribution plan. Payments are made at regular intervals over a period of more than one year, depending on the type of annuity. Spousal annuities If the participant is married prior to the first day of the period for which benefits are paid as an annuity, a plan subject to the spousal annuity requirements must pay benefits in the form of a qualified joint and survivor annuity (QJSA). If the participant dies before the spouse, the plan pays the spouse a life annuity. A participant may, with proper spousal consent, waive the QJSA and chose another payment option. Plans subject to the QJSA rules may also have to offer participants a qualified optional survivor annuity (QOSA) that provides a surviving spouse an annuity equal to either 50% or 75% of the annuity payments to be made during the participant’s life. For a married, vested participant who dies before the annuity starting date, the plan must pay a qualified pre-retirement survivor annuity (QPSA) to the surviving spouse. The participant may, with spousal consent, waive the QPSA and choose an alternate form of distribution provided under the terms of the plan. Unmarried participants must receive a single-life annuity, unless waived. Plans subject to QJSA/QPSA Defined benefit, money purchase pension and target benefit plans must offer QJSAs and QPSAs if a participant’s vested accrued benefit is more than $5,000, but may offer other payment options as well. Defined contribution plans must also offer QJSAs and QPSAs for account balances over $5,000 unless: the participant doesn’t choose a life annuity under the plan; the plan pays the entire remaining vested account balance on the married participant’s death to the surviving spouse unless the spouse has consented to another beneficiary; and the plan is not a transferee of a plan that was subject to QJSA/QPSA. Plans not subject to QJSA/QPSA Most defined contribution plans are not subject to the QJSA and QPSA rules. However, when a married participant dies, these plans must pay the entire remaining vested account balance to the participant’s surviving spouse unless the spouse has consented to another beneficiary. When an employee terminates employment prior to normal retirement age, before a distribution can be made (except for lump sum cash-outs), the employee must be given a written notice explaining the: available benefit payment options under the plan; right to delay payment until the later of the plan’s normal retirement age, or age 62; and consequences of failing to delay payment. Tips for plan sponsors Know what forms of distribution are available to participants and beneficiaries under the plan. Retain participant distribution election forms together with notarized spousal consents, if applicable. Communicate with your plan administrator about: who provides the required notices and consent forms for distributions; who calculates and pays out the benefit; plan changes; and beneficiary updates as a result of participant life changes. ---------Cameras Used To Shoot This Video ------- This VIDEO was EDITED with Adobe Premiere on a PC. http://amzn.to/2E7tvbP Microphone — Lavalier uses during the scene with the 50mm lens http://amzn.to/2AqmIrg Subscribe to IamIndia Here: https://www.youtube.com/IamIndian DISCLAIMER: This video and description contains affiliate links, which means that if you click on one of the product links, I’ll receive a small commission. This helps support the channel and allows us to continue to make videos like this. Thank you for the support!
Retirement Benefits Available to Federal Civilian and Military Employees
 
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We look at the retirement benefits available to federal civilian employees and military employees. We get an overview of each system.
Views: 1620 NYLCRI
Military Pensions and Benefits in Divorce - Part 1
 
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Divorce is complicated enough without throwing into the mix the fact that one or more of the divorcing parties is a military service member or has military benefits. Fortunately, the Uniform Service Former Spouses’ Protection Act (or USFSPA)addresses some military related issues such as service member’s military retirement pay, service member’s Survivor Benefit Plan (SBP), service member spouses’ access to commissary and exchange, and service member spouses’ access to healthcare benefits. The USFSPA does not automatically confer a right to military benefits upon a military service member’s spouse. Rather, it contains guidelines that allow states to treat disposable military retired pay benefits as marital property according to the state in which the divorce is filed. In the State of Utah, military retirement benefits accrued in whole or in part during the marriage are divisible. This means that courts in Utah treat disposable military pensions just as they would any pension or retirement benefit from any other employer. What is disposable vs. non-disposable military retired pay? For tax purposes, some military service members have the option of waiving a portion of their military retired pay in order to receive non-taxable Veteran’s Administration (or “VA”) disability compensation. The gross amount of gross disposable retirement compensation that can be split in a divorce action is reduced.[4] This can be a real headache for courts when trying to divide military retirement pay. Given that this loophole exists, some courts will try to bring the divorcing parties to a financial place they were before waiving military retirement pay. Some courts may also look at waiving military retirement pay as way of fraudulently attempting to modify the decree of divorce. Consult an attorney before attempting to change the way you receive your military retirement pay. You can download a PDF version of the USFSPA manual at this link: http://www.dtic.mil/cgi-bin/GetTRDoc?AD=ADA452505
Views: 2409 Utah Family Law TV
Retirement Plans & Investments : How Does a Joint & Survivor Annuity Work?
 
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A joint and survivor annuity works by allowing the yield of an annuity to be paid off to a survivor in the case that the annuity holder dies prematurely. Discuss who will reap the benefits of an annuity with a competent profession using advice from a financial adviser in this free video on annuities. Expert: William Rae Contact: www.hbwfl.com Bio: William Rae has been licensed in the insurance and financial fields for more than 30 years. Filmmaker: Christopher Rokosz
Views: 538 ehowfinance
Should You Take Canada Pension Plan Benefits Before Age 65?
 
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Shaun Humphries B.Admin, CFP, Senior Financial Planning Advisor with Assante Capital Management Ltd., discusses the topic of whether or not to take Canada Pension Plan (CPP)n before age 65 and some of the factors that need to be considered when making this important retirement cashflow decision. For additional information and free tools, visit our website: http://www.shaunhumphries.com/home
Joint and Survivor Annuity - What is a Joint and Survivor Annuity
 
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What are joint and survivor annuities – What is a joint and survivor annuity? 1-800-566-1002 http://www.RetireSharp.com . What are the best types of joint and survivor annuities and learn how you can avoid the most common mistakes that individuals have made when looking to purchase a joint and survivor annuity. Joint and Survivor Annuity Benefit - For Two-Way Gains For Investors A Joint and survivor annuity benefit refers to contractual savings with an insurance company meant for two individual combinable. For different saving and investment needs of people, an annuity comes in diverse structured formats and plans. These plans and programs of an annuity pertain differently to various modes and frequency of investment and consequently the benefits and the payments. If an individual subscribes to an annuity plan for his later age benefits, he must take up a plan that actually provides him the benefits along, and to the spouse, and not one that provides a lot of hogwash but no real benefits. Now comes into the picture an ideal annuity plan that is known as the 'Joint and Survivor Annuity Plan'. This annuity plan offers to pay to the retiree the benefits on the basis of the joint-survivor system that allows the annuity holder and his or her spouse to receive the income irrespective of the situation of who departs from this world first. Since the joint and survivor annuities are meant for two individuals and their consequent benefits, it is most preferred by people. A remarkable joint and survivor annuity benefit is that either of the recipients can derive, or expect to derive, the compensation for their entire lifespan, even in case where one of them is no more living. Another benefit of this annuity plan is that it provides the much needed financial security to the spouse of the first annuitant who may be or may not be an earning individual. Most common kinds of individuals who prefer to purchase this type of annuity plan are the husband and the wife especially where the husband is earning and the wife is a homemaker. Here are some of the options that are covered under joint and survivor annuity benefit plan - If the two annuitants of this type of annuity plan are unmarried individuals, the joint and survivor annuity benefit are paid to them in the form of a single-life annuity. This plan has been enterprising enough to allow the primary annuity holders to designate the same sex domestic partners also as their joint beneficiary. Feel free to subscribe to our YouTube channel and receive instant access on different retirement related topics. Thanks for watching! Related Search terms: what is a joint and survivor annuity joint and survivor annuity income joint and survivor annuity explained joint and survivor annuity reviews joint and survivor annuity review What is the best fixed indexed joint and survivor annuity vs the top immediate income joint and survivor annuity https://www.youtube.com/watch?v=0l7vjNkWdOw
Views: 270 retiresharp
What Is a Pension? | Financial Terms
 
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Watch more How to Understand Personal Finance Terms videos: http://www.howcast.com/videos/491846-What-Is-a-Pension-Financial-Terms You may have access to a pension through your employer, and what a pension basically is, is a guarantee from your employer to pay you a certain amount of monthly income when you retire for the rest of your life. So that's terrific! I mean, it's hard to save enough money on your own for retirement but this type of employer benefit really can help you meat your retirement goals. So how does it work? Basically, based on the number of years, that you worked there, your age or salary, a whole bunch of different things, your employer is going to determine what kind of benefit you're going to get. So let me give you an example: let's say I make 15.000 dollars a year from my job and I'm getting ready to retire. But I've been there a long time and my employer, based on their pension agreement will say: "you know what? We'll going to pay you a pension when you retire. We're going to pay you 20.000 dollar per year for the rest of your life." So certainly, it's not what I was making but it's a big component of my retirement income when compared with my own saving and maybe some money from social security that can help me live at the standard of living I was used to in retirement. Now, there's two big decisions people have to make with the pension. Number one: you have to decide when are you going to start collecting it. Sometimes there's a range of ages when your eligible to collect the pension and if you collect it early that's good because you're getting the money sooner but you're usually getting a smaller benefit amount, and that's not going to change. The other decision you have to make is what type of pension option you want to choose. If I'm getting 20.000 dollar a year in pension for the rest of my life what happens if I pass away two weeks after I retire. Is all that money wasted? Can any of that money go to my wife, my children or other beneficiary? So sometimes there are a variety of pension options that you can choose from with fancy sounding names like 15% or 75% or 100% survival options and all that really means that you're making a decision. Do I want more money today for income and I leave less to somebody else or am I willing to take a little less income to provide some protection for family members of other beneficiary. Keep in mind, most pensions have gone away from a lot of employees during thought economic times for companies and other government organizations. But if you still have a pension you want to make sure you evaluate where that falls into your overall retirement plan and that you make those decisions I talked about in a way that makes the most amount of sense for your situation.
Views: 15329 Howcast
Planning Social Security Retirement?  We use Social Security Calculator to get maximum benefits.
 
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Are you getting ready to begin your Social Security Benefits? Are you uncertain which filing strategy will get you the maximum Social Security Benefits? A Maximum Social Security Report will help you understand your options and detail the best way to file for Social Security Benefits that may provide you with the most income to you and your spouse.
Views: 104388 Steve Miller
What Do I Need to Know About My Retirement System Benefits After I Retire?
 
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View this video to learn: when you will get your first pension check and the amount you can expect in it, about post-retirement death benefits and survivor’s benefits, rules for working after you are collecting a NYS pension, and cost-of-living adjustments.
Views: 208 GOERWebServices
What benefits are provided under the Civil Service Retirement System (CSRS) program?
 
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We discuss the pension benefit program available to Federal civilian workers who were hired prior to 1984. We learn that under this program referred to as CSRS, federal employees make significant contributions to the plan, are entitled to substantial benefits, but are not covered by Social Security.
Views: 6169 NYLCRI
10 Facts about the Military’s New Retirement Plan!
 
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↓↓ IN-DEPTH ARTICLE↓↓ http://www.fedretirementplanning.com/10-facts-about-the-militarys-new-retirement-plan/ In many ways, the new retirement plan is similar to what was done in 1984 when Ronald Reagan fixed the short-term Social Security problems by moving federal employees from the Civil Service Retirement System (CSRS) to the new Federal Employee Retirement System (FERS.) This change put more of the responsibility on employees and less on the government by lowering their pension, but giving them a 5% match to their TSP as well as Social Security. All this said, the new Military Retirement System is set to take effect on January 1, 2018, and offers some BIG changes. ► Subscribe to My Channel Here: https://www.youtube.com/channel/UC8bWrSS2BdaQGtc1mq45Z6g?sub_confirmation=1 -- Cooper Mitchell helps federal employees better understand their benefits and helps them retire on their terms. Using financial planning and investment management, Cooper is able to tackle the issues that are unique to federal employees. Cooper is also a public speaker who is available for various federal conferences and events. Find Cooper here: Website: http://fedretirementplanning.com Work with Cooper: http://http://www.fedretirementplanning.com/work-with-cooper/ Facebook: https://www.facebook.com/fedretirementplanning/ Email: cooper@fedretirementplanning.com -- As always, enjoy, and please subscribe! -- © Copyright Fed Retirement Planning 2017, All Rights Reserved
How to Maximize Your Joint Social Security Benefits for Married Couples
 
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Click this link to get your copy! http://lethemonfinancial.com/freeretirementguide How To Retire Happy, 7 Simple Steps To Creating Your Ideal Retirement This strategy we will discuss is one you can use as a married couple to maximize the benefits that you and your spouse get from Social Security. Have you ever heard the expression 1+1=3? Most people just think, I have benefits, my spouse has benefits, but they don't really think about how their benefits could work together. When it comes to Social Security we know that you can collect early, wait until full retirement age, or you can delay your benefits to as late as age 70. However, there are other options. Depending on when you collect, you and your spouse may be able to switch between benefits. We call these alternatives hybrid strategies. One hybrid strategy is known as file and suspend. This strategy works well for couples that both have a pretty decent benefit based off their own work record. Let's look at an example: The traditional method of collecting benefits would be for George and Susan to both begin collecting their own benefits at age 66 when they reach full retirement age. However, there may be a better way to maximize their benefits. Once they both reach their full retirement age, George can file for his own benefits, then immediately suspend them. Because George and Susan are both at their full retirement age, Susan can then collect her spousal benefit of $1,100/month, half of George's full retirement age benefit. This allows them both to each grow their own benefits to as late as age 70. Remember, you get an 8% increase in your Social Security benefits for every year that you delay past your full retirement age until you turn 70. At age 70, George would then turn on his income of $2,904/month, and Susan can then switch over to her own benefit of $1,980/month. If George and Susan had both started collecting at their full retirement age, their combined total would have been $3,700/month. With this strategy, they would get $1,100/month from age 66 to 69. Then at age 70 their combined benefit would be $4,884/month. By giving up $2,600/month for 4 years, they get an $1,184/month increase for the rest of their life after age 70. Letting George's benefit grow to age 70 also maximizes the survivor benefit for Susan. Remember, there are a lot of factors to consider when deciding when and how to maximize your Social Security benefits. Before implementing any strategy, be sure to talk with a financial professional that can help you review all your options. If you want to get more tips and strategies like this, click on the link below to check out my free retirement guide, how to retire happy, 7 simple steps to creating your ideal retirement
Views: 9331 Money Evolution
MILITARY RETIRED PAY DIVISION
 
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Summary of rules for proper division of military pensions due to divorce.
Views: 365 qdroman
Qualifying Age For Social Security Retirement Benefits?
 
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“What is the Qualifying Age To Receive Social Security Retirement Benefits? What about my spouse? “ You can file early, at age 62. For your full retirement is 66 and the latest you can file is age 70. It depends on your year of birth. Survivor spouses can claim benefits as early as age 60. Can Spouses Claim Spousal Benefits? Here’s the spousal criteria: • You must be age 62 • Must be married at least 1 year (for your spouse to get benefits) • Your spouse must file first. • If you claim your full retirement age benefit, it could be as much as ½ of your spouses benefits. Visit my website JustAskFreeman.com for more useful tips on how to get the most from your retirement planning & Social Security benefits. VA | MD | DC . Also, download my free “SAFE MONEY KIT” to get the most from your retirement dollars. Tel: 1-866-471-7233
Views: 241 Freeman Owen
DIC/SBP Offset awareness
 
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Hey everyone, today I want to talk about a very important issue to surviving spouses of fallen military it is the DIC sbp offset. Many surviving spouses may know it as the widow tax. The department of veterans affairs provides surviving spouses with dependent and indemnity compensation, or DIC, its paid surviving spouses who’s service member died while on active duty or due to a service connected illness or injury. In conjunction with that the department of defense separately provides another benefit called the survivor benefit plan or SBP. This benefit is automatic for active duty service members and retirees can elect to pay into to still receive this benefit. SBP is supposed to ensures that the surviving spouse receives an annuity equal to 55% of the service member’s retirement. With this offset under the sbp offset law. Surviving spouses cannot receive both DIC and full sbp. Annuities are reduced dollar for dollar by the dic. With the basic DIC set at 1254 dollars a month, it is usually wiped out or vastly reduced by the SBP. Those who are surviving spouses of retirees who did pay in to continue the SBP coverage are refunded the cost with no interest no matter how long the service member paid in. Currently there is a relief called the special survivor indemnity allowance, or SSIA. That does help cover some of the lost pay if the annuities are wiped out through the offset . But this is set to expire in the fall of 2017 If this does not get extended in congress. If the offset law is not changed, so many of the surviving spouses are going to be left in even further financial hardship. Our soldiers signed that dotted line being told that their family would be taken care of if anything were to happened to then they die and the government says oh yeah we have this offset law that’s been in place for 4 decades now and well, your screwed. So we urge you to contact your local senators and congress men to get them to support HR 1594 and s979 this would help reduce or eliminate this offset and assist these surviving spouse in obtaining the benefits that were promised to their soldier before they paid the ultimate price.
THE 401K DILEMMA -  401k Explained 401k Investing 401k vs Pension 401k Fallout Recession 401k Fees
 
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In 401k dilemma we show 401k investing and how it has changed the retirement market. Before the 401k was the pension plan. But, if we look at the 401k vs pensions the question becomes clearer, the 401k puts the risk of retirement squarely on your shoulders. When we look at 401k fees and all the risk that is involved with a 401k our dilemma becomes clear. Many people do not account for the taxes they will have to pay. For instance, if you are about to retire with 1 million dollars in your 401k, you may be surprised when that, after taxes, comes out to around 700k. No matter what the actual number is many people do not plan and account for taxes, which are a big part of the 401k. In order for us to fully understand the 401k and what it is doing for us in our retirement we need to understand what our actual value is. To get a better idea of how much money you will have for your retirement send me an email at dan at daniel-thompson.com. "The 401k Dilemma Let’s talk for just a minute about the 401k. Probably most of you, and I’m guessing a lot of you, have a 401k with your employer. Do you know about the 401k’s origin? Before the 401k there was a little benefit called the Pension. A pension technically is called a defined benefit plan. What that meant is that the employer would define the benefit you would get during retirement based on income and your years of service. Upon retirement the employer essentially would purchase a lifetime income annuity for you that paid a monthly benefit based on those benefits promised. The problem was employers waited, delayed, and put off funding those plans so many of them are under water and cannot provide the benefit they promised. In 1974 ERISA allowed for employers to create defined contribution plans. The difference is significant. Remember a defined benefit plan promised to pay the employee a specified income stream based on salary and years of service. These plans were also fully funded by the employer. A defined contribution plan, on the other hand, simply promised to put in so much money into an account for the employee. That’s it. How it’s managed, the overall return, and the risk was put solely upon the employee. Employers were out from under the burden of providing income from a defined benefit plan for retirees by putting in a percentage of their income into what is now called a 401k or a defined contribution plan. So why the history lesson on retirement plans? For one, I don’t think most employees have any idea the risk that has been placed upon him or her to provide for their own retirement. It’s all on you. There are a few things against you. First is fees and expenses inside these plans. ... -------------------------------------------------------------- Please Subscribe! https://www.youtube.com/channel/UCNtQmqZlNUwzPuWmHPI_oSg?sub_confirmation=1 Visit me on the web- http://WiseMoneyTools.com/ Follow me! FB - https://www.facebook.com/wisemoneytools Twitter - https://twitter.com/wisemoneytools Google+ - https://plus.google.com/114367619155241197052 I have been involved in financial planning for over 30 years. I started out as a high volume stock broker. After working with millions of dollars I decided there had to be another way for people to earn money in the market without all the risky ups and downs that leave you where you started, or worse. After reading a ton of books I came across a book on the Infinite Banking Concept and it completely changed my life and the way I view investments. Now I focus on building wealth in safe and predictable ways, like Infinite Banking, Cash Value Life Insurance, and Indexed Annuities to name a few. I post videos regularly so if you have any questions of comments feel free to email them to... dan at wisemoneytools dot com
Views: 2520 Wise Money Tools
Social Security 101:  Spouse Benefits
 
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Can you get Social Security on your spouse's work record? Here's an overview of benefits for the spouse of a retiring worker. SSA's website for spouse payments: http://ssa.gov/retire2/applying6.htm Andy Landis Thinking Retirement www.andylandis.biz I am not affiliated with SSA. Anything I say is informational only, and only SSA can make official decisions.
Views: 58774 Thinking Retirement
NCNG Retirement Services,  Form 170 (State Direct Deposit Form)
 
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Form 170 (State Direct Deposit Form) This is the NC version of the Direct Deposit Form. This form tells the State Treasures Department what bank account you want your money to go to in the form of Direct Deposit. http://www.nc.ngb.army.mil/Services/Pages/Retirees.aspx M-Day/Traditional Retirement Services The North Carolina National Guard Retirement Section provides information on benefits and entitlements in order to prepare Soldiers and their families for retirement. This section also ensures the understanding of the Reserve Component Survivor Benefit Plan (RC-SBP) Program. Once you receive your 20 year letter you have 4 options that will impact your retirement pay and benefits. These options are; retired reserve, discharge, remain in the guard, and the stand by reserve. Planning for Retirement Before 20 Years of Service If you are planning on retirement from the National Guard there is some information you should know before you reach 20 years of service. In order to earn the maximum retired pay at age 60 you should start planning for retirement early to earn the maximum retirement point each year. Click for more information: Army, Air Guard 20 Years of Service Information Once you have completed 20 years of service you should learn about your retirement benefits. Some of these benefits must be claimed within 90 days of receiving your 20 year letter. Click for more information: Army, Air Guard Gray Area Retirees Gray area Retirees are soldiers who have completed 20 years of service but have not reached the age for retired pay. While in this period there is some information on benefits you should know. Click for more information. Army, Air Guard Applying For Retirement Pay Soldiers who have completed 20 years of service and reached the age to receive retired pay must submit a packet. Retirement pay is not automatic and must be applied for. Some soldiers are eligible to receive pay earlier than age 60. Click for more information: Army, Air Guard TRICARE at age 60 and ID Cards Once you reach age 60 and apply for retired pay you will await a response from HRC Ft Knox for your approval letter. This letter is what you will take with you, and your spouse if applicable, to any ID Card facility to receive your retired ID card(s). Once there, you will also verify that your DEERS enrollment is correct. This is important because you are now eligible and enrolled into Tricare Standard with the option to upgrade to Tricare Prime based off your home of record. There are no monthly premiums with Tricare standard. You as the retiree will be responsible for any co-pays. At age 65 you become eligible for Medicare Part B, and your Tricare transitions to Tricare for Life. The Retirement Office recommends enrolling in Medicare Part B because as soon as you are eligible for Medicare Part B, Tricare becomes secondary. The advantage of enrolling in Medicare Part B is that Medicare will file to Tricare for you when it has completed its payments. If you have any other insurance, you as the customer will be responsible for filing to Tricare for the remainder of any charges accrued.
Views: 374 NCNationalGuard
Intro to the New Reserve Component Retirement Podcast
 
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Yes, folks, it's back! A new site is in the works and great resources are coming soon. Join me as we grow. Transcript follows: Hello everyone. Welcome to the first episode of the rebooted version of the Reserve Component Retirement podcast. I originally had a nice introduction all prepared and after several attempts of recording it, I found it just did not sound natural, so I am going to speak to you just normally. This is just David talking to all of the listeners out there. I am David Saunders. I am a retired services officer for the state of Michigan and I created this website in an attempt to fill a gap that I noticed. I discovered through my experience as an RSO (Retirement Services Officer) that there's not a one-stop shop, a wal-mart so to speak, for any issue that might come up for someone in the reserve component relating to retirement, retirement benefits, survivor benefits; all manner of different issues that might befall soldiers. And even soldiers who don't plan on retiring, what can they expect just from their short 6, 10, 12 years of service? I know that doesn't sound short, but you know, when you're talking 20 or 30 years, it certainly can seem that way. Anyway, I found that there was not a one-stop, simple English resource out there for service members to use; that's Army, Air Force, Navy, Marines, Public Health Services, it doesn't matter; There is no one resource out there where all of the questions that a potential retiree could have would be answered, and that's really a shame. With all of the resources, all of the information out there on the internet, there really should be a website that has everything you could need without having to go to ten different websites to get your information. So, that's the gist of why this site is here. I plan to give you a nice long-it could be never ending folks, really-a nice long list of articles and podcast episodes and other resources to help you out, to give you the information that you would need on a daily basis. If you're the retiree, if you're trying to counsel a retiree who is subordinate to you, or any situation that you might find, I'm going to give you the resources you need to give them the right information or even to correct bad information that they might have. I'm not going to go into great detail for this first episode. It's just meant to be an introduction. I'll get much longer and more verbose as we go on. You'll get to hear the sound of my voice even more. So thank you for joining me on RCretirement.com. Please join me as we grow. I look forward to serving you. Thank you very much.
Views: 239 RCRetirement
How the TSP Fits Into FERS
 
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Covered by the Federal Employees Retirement System? Watch this video to learn how the TSP fits into your retirement benefits package.
Views: 240999 TSP4gov