The Fed15 Podcast | Ep. 150 Coordinating Two Pensions + Rethinking FEGLI After 55

Katelyn breaks down how households with two pensions can create a more coordinated retirement income strategy. She explains how survivor elections, Social Security timing, tax withholding, and TSP withdrawals all interact when both spouses receive retirement income. She also covers how to avoid “income pile-up” years, review beneficiary elections, and structure household cash flow so essential expenses remain covered while preserving flexibility for discretionary spending.

Dan explains why many federal employees should reassess their FEGLI coverage after age 55. He walks through how FEGLI premiums rise across age bands, when Option B coverage may become too expensive, and how to evaluate whether existing coverage still matches your current financial needs. He also compares FEGLI to private term insurance, outlines a simple cost comparison process, and discusses how to avoid coverage gaps when making changes before retirement.