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68-year-old federal retiree with $1.2M TSP discovers survivor election cost him $90,000
A 68-year-old federal retiree sits down with his account statements and has a startling revelation. His Thrift Savings Plan (TSP) holds $1.2 million, his FERS or CSRS annuity arrives like clockwork, ...
From reemployment to remarriage, life after federal service can bring changes that affect your annuity, insurance and survivor benefits.
The federal survivor annuity election is irrevocable, permanently cutting monthly checks by 10% and costing retirees roughly $90,000 in lifetime present-value income. FEGLI Option B premiums double ...
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