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Video instructions and help with filling out and completing how long does it take opm to process death benefits
Good afternoon this is Lawrence Ali your local Fed focus advisor and what I want to talk about today is is the minimum retirement age in 30 years of service for federal employees you can retire depending on your birth date between the ages of 55 to 57 with 30 years now that concept sounds great so what ends up happening is you're not at the age where you can receive Social Security so what the government is doing is putting in a supplement which is 75% of what you'll be making when it's time for you to get 62 and will see your Social Security but also what I put in another video is that the federal government within a 2021 budget proposal they're talking about doing away with the supplement so in actuality if there is no supplement and you're not at the age to receive Social Security you're on a two legged stool instead of a three-legged stool also even if it is the supplement what I've seen is the only way that you're going to be able to retire comfortably is that you have in your TSP ten times your salary now if you're telling me that you're pretty much young enough to leave this career and go into another career then I understand but if your time I leave in the fair market and to retire comfortably then what you end up having to do is you have to have at least 10 times your salary in your TSP if not then you're going back to work so as always they help me help you get that ready and I'm out.