Weekly Quiz 29: Federal Employee Retirement Benefits

This week’s quiz is all about retirement, how states tax benefits, and the upcoming COLA

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Created on October 20, 2022 By Benefits Ben

Weekly Federal Retirement Quiz (#29)

This quiz goes over federal retirement, state taxes, and the 2023 Cost-of-Living Adjustment (COLA)

1 / 3

When you take out a TSP loan, the rate of interest you pay is more-or-less equal to what?

Zero. (0% interest is charged)

5%

1.99%

The G-Fund’s rate of return

Because the loan amount is transferred to the G-Fund, the interest paid equates to roughly the rate of return of that Fund. Read More Here.

2 / 3

Of the states that don’t tax Social Security, TSP withdrawals, and FERS/CSRS pensions – which three have the lowest property taxes?

Florida, Hawaii, Mississippi

Nevada, Tennessee, Wyoming

Hawaii, Mississippi, Wyoming

Florida, Hawaii, Nevada

The answer is Nevada, Tennessee, and Wyoming. Read More Here.

3 / 3

What will the COLA be for a FERS pension for a retiree who retired in March 2022?

7.7%

8.7%

3/4th of 7.7%

5/6th of 7.7%

Retiring in March of 2022 would mean the recipient of a FERS pension can expect 9/12th (or 3/4th) of the 7.7% Cost-of-Living Adjustment (COLA) for FERS. They could expect to see a full 8.7% COLA (if age 62 or older) for their Social Security benefits, though, even if they didn’t claim Social Security until March 2022 as well. Read More Here.

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The average score is 51%

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**Written by Benjamin Derge, Financial Planner, ChFEBC℠ The information has been obtained from sources considered reliable but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Benjamin Derge and not necessarily those of RJFS or Raymond James. Links are being provided for information purposes only. Expressions of opinion are as of this date and are subject to change without notice. Raymond James is not affiliated with and does not endorse, authorize, or sponsor any of the listed websites or their respective sponsors.

Federal Employee Retirement Benefits Quiz