Some Alternatives to “529” Education Savings Plans
Many financial advisors recommend “529” education savings plans to their clients in order to help for the future cost of higher education. Among the advantages of “529” education savings plans…
Mandatory Roth TSP “Catch-Up” Contributions Take Effect January 1, 2026
On January 10, 2025, the IRS issued proposed regulations that facilitate the implementation and operations of one of the provisions passed as part of SECURE 2.0. This provision is that…
Federal Employees and Retirees May Have Forgotten About Retirement Accounts from Previous Employers
The way the average American is employed has changed through the years. Parents of the “baby-boomer” generation typically worked for the same employer when they started working in their 20’s…
With the Challenges and Problems Facing the LTC Insurance Industry, Is “Self-Insuring” a Better Option?
Long-term care (LTC) insurance started in the late 1970’s and early 1980’s in response to the growing recognition of the need for financial protection against the prohibitive costs of LTC…
Understanding the Need for Long Term Care Insurance
Many individuals do not understand long-term care (LTC). LTC includes a range of services for individuals who have functional limitations or chronic health conditions. These limitations may be the result…
Understanding How Prescription Drug Discount Programs Work
There is no doubt prescription drug costs are increasing and remain a financial challenge for many Americans, including federal employees and retirees. To help make prescription drug costs more affordable,…
Departing Employees Need to Consider What Happens to Their HCFSAs and HSAs
Since early February 2025, thousands of federal employees have received notices from their agencies about losing their federal jobs. Many of these employees are not eligible for any type of…
TSP Loan Repayment Information for TSP Participants Leaving Federal Service
The Thrift Savings Plan (TSP) offers two types of loans for TSP participants. One loan is called a general-purpose loan, and the other is called a primary residence loan. When…
Departing FERS Employees Who Choose to Receive a Deferred Annuity Can Give a Survivor Benefit
A recent FEDZONE column discussed “vesting” retirement requirements for FERS employees. With thousands of federal employees losing their federal jobs in recent months, the question among many of these departing…
Most FERS Employees Are Vested in Their FERS Retirement
Thousands of federal employees have lost their federal jobs in the last few months due to reduction-in-force (RIFs), firing or elimination of job positions. Most of these employees are not…