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Penalty-Free Withdrawals
The TSP Rule of 55 allows eligible federal employees to make penalty-free withdrawals from their Thrift Savings Plan (TSP) if they separate from federal service during or after the calendar year they turn 55. This rule offers significant financial flexibility for individuals who choose to retire early or are forced to leave employment due to unforeseen circumstances. Unlike standard retirement accounts that impose a 10% early withdrawal penalty for distributions made before age 59½, the TSP Rule of 55 provides an exception, allowing access to retirement savings without the usual tax penalties, although regular income taxes still apply.

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TSP Rule of 55: Early Withdrawal Guide for Retirees

Learn about the TSP Rule of 55, eligibility, benefits and strategies to access your retirement funds penalty-free for a secure financial future.

Choosing postponed retirement under FERS can help you secure a higher pension by avoiding early retirement penalties. By delaying your annuity until the right age, you ensure that your monthly payments are not reduced and that you remain eligible for FEHB benefits.

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FERS Postponed Retirement

A FERS Postponed Retirement is when you separate from service with at least 10 years of creditable service, and you have at least reached your MRA (Minimum Retirement Age).

Premium Costs
When evaluating Blue Cross Blue Shield Basic vs. Standard, one major difference is the premium cost. The Basic plan typically has lower monthly premiums, making it an affordable option for those who want coverage without a high upfront cost. In contrast, the Standard plan comes with a higher monthly premium, but it provides more comprehensive benefits and flexibility in choosing providers. If you prefer lower fixed costs and are comfortable using in-network providers, the Basic plan might be better

Coverage for Specialist Visits
When comparing Blue Cross Blue Shield Standard vs. Basic, access to specialists is an essential factor. The Basic plan covers specialist visits but typically requires a referral from a primary care physician. This can be a limitation for those who need frequent specialist care. The Standard plan, on the other hand, allows direct access to specialists without requiring a referral, providing more convenience and flexibility. While both plans offer specialist coverage, the Standard plan is more suitable for those with complex medical conditions who require frequent specialist visits without restrictions. If ease of specialist access is important to you, this could be a deciding factor in the Basic vs. Standard Blue Cross Blue Shield debate.

Estimating SRS with the FERS Supplement Calculator

The FERS Annuity Supplement Calculator is a practical tool for estimating the Special Retirement Supplement (SRS). It provides eligible federal employees under 62 with an idea of the financial support they will receive.

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Plan Your FERS Retirement With Federal Pension Advisors

Federal Pension Advisors helps Federal Employees make the most out of their TSP, FERS Pension, Social Security, and Federal Retirement. Book now