Good afternoon, this is Lawrence Ali, your local FedFocus advisor. What I want to talk about today 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. However, 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 to 62 and receive your Social Security. But also, what I put in another video is that the federal government, within a 2018 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 there is the supplement, what I've seen is the only way that you're going to be able to retire comfortably is if you have in your TSP (Thrift Savings Plan) 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 you're aiming to leave in the fair market and retire comfortably, then what you end up having to do is have at least 10 times your salary in your TSP. If not, then you're going back to work. So, as always, let me help you get ready. I'm here to assist you.
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How long does it take opm to process death benefits Form: What You Should Know
The filer must meet all five of the following conditions: The spouse of the deceased was employed for more than two years. The married parent or spouse of a dependent child of the deceased was employed for more than two years. The employee was employed for 12 months or more (or the employee's death was due to a work-related injury) at the time of the employee's death. The employee filed a claim within 30 days of death and before disability, hospitalization, or death benefit became payable. The employee's total annual remuneration was equal to or greater than 400,000. The claimant and/or the surviving spouse are a common-law or legally wedded spouse, but did not obtain an order of divorce from the deceased, or a lawful separation from the deceased. The survivor is a minor. The survivor is a survivor of the deceased employee, former employee, or former spouse, and does not have parental responsibility for the deceased or former spouse The deceased terminated the employee's employment for cause and did not receive disability compensation or a death benefit for the termination. The claimant and/or the surviving spouse (if applicable) are a common-law, legally wedded spouse, or spouse who is divorced or legally separated from the deceased, and did not obtain an order of divorce from the deceased, or a lawful separation from the deceased. If the claimant and/or the surviving spouse were not married to the deceased, the following requirements are also applicable. The deceased was not unmarried during any portion of his or her employment and did not remarry. The claimant was covered by a collective bargaining agreement (CBA) or arbitration award that provides, without limitation, that the deceased's rights under the CBA cease after death. The claimant was covered by a settlement agreement or a court order that provides, without limitation, that the deceased's rights under the settlement agreement are extinguished after death. The claimant is not entitled to other benefits because of the individual's death, even if another deceased employee was also entitled to such benefits. To request claims be processed electronically please complete the appropriate For more information on death benefits visit the U.S. Department of Labor's Benefits for U.S. Employees page Please direct any questions to. Questions about the application process should be directed to the State Personnel Service at task.ca.
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