March 17

Coffee with Mike – Coming Soon

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On www.allaboutfers.com, we're going to be offering a chance for you to generate an Annual Benefit Statement that's based on your information, and when you get that statement, we believe it's going to give you the opportunity to see your benefits in a way that you may not have seen them before. Where you're going to understand what you have, why you have it, and what it does for you, or what it could do for you if you thought about it in a different way. So I think it can save you some money, I think it can help you use your money better, and I think it can help you use your benefits better. 

We get a lot of offers in this world about buying things in the insurance industry or in the investment industry, and you might think, 'gosh, I need that,' when you already have it. What the Annual Benefit Statement is going to make clear for you is what you do and do not have, what you do have and could have, and what you can do about it. We're talking about your health insurance, FEHB; we're talking about your life insurance, FEGLI; we're talking about your investments, TSP; we're talking about other insurance, whether it's dental insurance, or vision insurance, or long term care insurance, we're going to cover all of it.

 But the point is is not just to give you a bunch of information. The point is, how can you use it? How can you position it so that you're making the best use of your money that you're spending for those benefits, and how you can save money because you have those benefits. So I think this is going to be helpful to you if you'll give it an opportunity. Go to the website, check it out. We're going to put it on there very soon, and take the opportunity to think through how well you actually know your benefits, and if you knew them better, how much money you might save, and how much better your financial future could be. That's what this whole thing, that's what the Annual Benefit Statement is all about.

I want to encourage you to go to our website www.allaboutfers.com, sign up for our newsletter so that you'll first notice when the annual benefit statement becomes available.

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  1. Anyone know if a FERS employee with age requirement met who has 19 1undefined2 years and 6 months worth of unused sick leave gets credit for 20 years 1.1% multiplyer?

    1. Hi Sue, thanks for the comment! The short answer is yes, you would get the 1.1% multiplier in this example. As per the FERS rules, if an employee retires at or past age 62 with at least 20 years of service credit, including sick leave conversion, will be eligible for the 1.1% multiplier. Hope this helps!

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