CSRS Retirement Planning for Law Enforcement and Firefighters (GS Connect)
(Course Available After Purchase)
$295
Overview:
As a law enforcement officer or firefighter, learn how your Civil Service Retirement System (CSRS) annuities are calculated; how your health and life insurance benefits carry over into retirement; and how Social Security, Medicare, and Thrift Savings Plan (TSP) withdrawal options affect law enforcement officers and firefighters upon retirement.
Online course
Four-week 24/7 access to recorded lectures and content
Instructor support via email
Enroll anytime in this online course. All materials supplied. Instructor-based study. Self-paced; take up to four weeks to complete.
Who Should Attend?
Federal law enforcement officers or firefighters covered by the Civil Service Retirement System (CSRS) who are within 10 years of retirement
Learning Outcomes:
Be able to explain the major steps involved in retirement process and determine your retirement date
Comprehend how your basic annuity will be computed and what benefits will be payable to your survivors
Establish your Social Security entitlements, including Medicare, and if your Social Security benefit will be affected by either the Windfall Elimination Provision or the Government Pension Offset
Outline:
Center for Health Sciences Information Session RSVP Form
Introduction to Federal Benefits
Course and student Objectives
Overview of course content
Definitions of retirement benefits terms
Retirement Questions
Retirement Eligibility
Retirement eligibility under CSRS
Establishing your AMinimum Retirement Age@
Determining the best time to retire
Eligibility considerations for special employee categories
Annuity Computations
Computing creditable service
Civilian deposits
Components of the AHigh-3" average salary
Military – Post 1956 deposits
Unused sick leave
CSRS basic annuity computations
Components of special employee categories
Parameters for reductions to annuities
How Cost of Living Adjustments impact annuities
Re-employment annuities
Voluntary retirement annuity contributions
Survivor Benefits
Survivor benefits of deceased federal employees
Death after separation from federal service
Insurable interest eligibility
Court awarded survivor annuities
Selecting survivor benefits
Parameters for children=s survivor benefits
Health and Life Insurance Benefits (FEHB/FEGLI)
Eligibility considerations for the FEGLI
FEGLI continuation coverage options
Order of Precedence for FEGLI benefits
Post-retirement coverage under the FEHB
FEHB and Medicare
Flexible Spending Accounts (FSA)
Social Security/Medicare Benefits
Key terms and definitions of the Social Security program
Social Security eligibility requirements
Calculating Social Security benefits using PIA and AIME
Windfall Elimination Provision (WEP) and Government Pension Offset (GPO)
Eligibility requirements for Medicare
Income Tax Considerations
Application of basic tax rules to CSRS benefits
Taxation of TSP annuity payments
Taxes applied to Social Security benefits
Sources of information about retirement income taxes
Thrift Savings Plan
TSP participation requirements
Meeting your retirement financial needs
TSP and CSRS
TSP investment fund options
Withdrawal and transfer options of TSP funds
Estimating a TSP account balance
Application Forms and Information
Uses of the various retirement application forms
Information sources available to federal employees
