Preparing for a Sudden Exit from Federal Employment- What to Save |
Printing or downloading your electronic Official Personnel Folder (eOPF) is crucial as you will no longer have easy access once you separate from government service.
 If you are not able to save the entire file, be sure to maintain personal copies of these critical personnel documents:
Fillable forms are available at https://www.opm.gov/forms
Update your Address!
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Preparing Your Retirement Application
The Office of Personnel Management (OPM) has several helpful tips on preparing to retire. The Retirement Quick Guide explains the process including why it may take a few months before your retirement is finalized.
OPM has several videos on their YouTube channel including:
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Mark Your Calendars
During this time of uncertainty, you can learn more about your retirement options. Check out recent webinars archived on the Federal Benefits Institute at the National Active and Retired Federal Employees (NARFE) website. NARFE has been at the forefront of protecting the benefits of federal employees and retirees for more than 100 years. Join NARFE to connect with other Feds, participate in NARFE webinars and advocacy efforts, and enjoy your association's benefits for just $48 a year. |
Stay or Go: Considering the “Deferred Resignation” Offer, Retirement Options, and Potential OptionsNARFE federal benefit expert Tammy Flanagan walks through what you need to consider when making decisions regarding your career and future. (Recorded February 3, 2025)
Retirement Preparations: Measure Twice, Cut OnceRetirement should be a time for relaxation and enjoyment after a long career, but entering retirement without proper planning can lead to an unpleasant experience.
Thrift Savings Plan: Should You Stay or Should You Go?Mark Keen, CFP, explores the reasons and circumstances that would guide participants to stay in the TSP or withdraw funds.
Key Questions You Need To Answer As You Approach Retirement: Part 1There are some critical questions that federal employees, nearing retirement, must face that can have lasting effects on your financial security and the needs of your family. It is important to understand what happens when you follow the map that you’ve laid out for your future before you begin the journey. Key Questions You Need To Answer As You Approach Retirement: Part 2There are some critical questions that federal employees, nearing retirement, must face that can have lasting effects on your financial security and the needs of your family. It is important to understand what happens when you follow the map that you’ve laid out for your future before you begin the journey.
FEGLI: Is It the Best Option for Federal Retirees?Life insurance is critical to your dependents’ financial well-being. Determining whether Federal Employee Group Life Insurance (FEGLI) is right for you, and which options to consider, can be a daunting task.
Key Questions You Need To Answer As You Approach Retirement: Part 1There are some critical questions that federal employees, nearing retirement, must face that can have lasting effects on your financial security and the needs of your family. It is important to understand what happens when you follow the map that you’ve laid out for your future before you begin the journey. The Final Countdown to Retirement: Smoothing the TransitionIt is much easier to fix mistakes while you still receive a biweekly paycheck than it is while you are waiting for your first retirement check.
Mid-Career Reality Check: Golden Handcuffs or a Move to the Private Sector?If you’re a mid-career federal employee, and you’re thinking of joining the private sector, you need to know what federal benefits you have earned, how to protect them, and how to make sure they’re waiting for you when you retire. |
Recent Questions
Question: Is my TSP account safe?
Answer: You can maintain your account after leaving federal service if your TSP balance is $200 or more. The TSP provides guidance to help you learn about keeping your TSP account safe. Lee Radcliffe, a U.S. Army veteran with over 20 years of federal government and data analytics experience, wrote an article for Government Executive titled, TSP’s G Fund and The Debt Ceiling.
Question: Are there other proposals to reduce my federal retirement benefits that I should be worried about?
Answer: Laws governing federal retirement and insurance benefits require an act of Congress to be changed. According to a recent Government Executive article, there are current proposals in Congress to eliminate the FERS Supplement, change retirement contributions under FERS, eliminate the FERS Basic Retirement Benefit, and change FEHB to a voucher system. The Congressional Budget Office advises Congress by providing reports to analyze potential changes to the retirement system and their impact on the federal budget over 75 years. The federal government employs about 2.7 million civilian workers—1.8 percent of the U.S. workforce. Like many employers, the federal government compensates its employees with salaries, wages, and other benefits paid as they are earned and deferred compensation in retirement benefits. Lawmakers have expressed interest in examining the current structure of retirement benefits to ensure that the government provides adequate compensation to attract and retain skilled employees while not paying more than needed to accomplish that goal.
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Additional Learning Opportunities
Retirement Planning is the name of Tammy's weekly column appearing on www.govexec.com. It covers what you need to know for a smooth transition to retirement. Get the latest stories and updates sent to your inbox every Friday. |
Need Individualized Help?
Retire Federal exists to provide education and assistance through one-on-one consultations to help federal employees and annuitants plan for retirement along with post-retirement decision-making. Federal benefits experts specializing in FERS and CSRS retirement benefits, Medicare coordination with FEHB, benefits for survivors of federal employees and retirees, and many other issues with benefits administered by OPM, SSA, and TSP are available. Contact us to schedule your next appointment with one of our experienced retirement benefits experts.
Retire Federal has a trusted provider list if you need the assistance of a professional financial planner or an estate planning attorney who works with federal employees and is familiar with your benefits. To learn more about working with a financial professional, explore www.investor.gov, created by the Security and Exchange Commission’s Office of Investor Education and Advocacy. |