Podcast appearances and mentions of tammy flanagan

The government might employ some two million people. But no two federal employees are alike. That's why career and retirement planning can be complicated. For instance, what if you're old enough to retire but have less than 30 years in. For insight into what's know as MRA plus 10, we turn to long time federal retirement expert Tammy Flanagan.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Just what do you get if you're caught up in a reduction in force? And what about if you decide to retire early? Federal retirement expert Tammy Flanagan has been getting lots of these questions lately. She joins me now with a few answers. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Just what do you get if you're caught up in a reduction in force? And what about if you decide to retire early? Federal retirement expert Tammy Flanagan has been getting lots of these questions lately. She joins me now with a few answers. Learn more about your ad choices. Visit podcastchoices.com/adchoicesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Hiring freezes, the new Career/Policy classification, freezes on this and that program. It's all causing lots of federal employees to consider retiring. My next guest warns, don't do anything in haste. It could cost you in more ways than one. Tammy Flanagan is principal at Retire Federal, and she join me now. Learn more about your ad choices. Visit podcastchoices.com/adchoicesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Hiring freezes, the new Career/Policy classification, freezes on this and that program. It's all causing lots of federal employees to consider retiring. My next guest warns, don't do anything in haste. It could cost you in more ways than one. Tammy Flanagan is principal at Retire Federal, and she join me now. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Thinking of taking early retirement? The biggest mistake you can make is running out the door because of what Elon Musk might to. In fact, early retirement whatever your motivation might be requires as much planning as regular retirement. Here with some tips, federal retirement expert Tammy Flanagan. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Thinking of taking early retirement? The biggest mistake you can make is running out the door because of what Elon Musk might to. In fact, early retirement whatever your motivation might be requires as much planning as regular retirement. Here with some tips, federal retirement expert Tammy Flanagan. Learn more about your ad choices. Visit podcastchoices.com/adchoicesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Far be it from us to spoil your holiday season, but senior career managers in government might want to consider preparing for the worst. Suppose the coming Trump administration does get Schedule F in place. Are ready for a forced retirement or change in career? Some advice now from retirement expert Tammy Flanagan. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Far be it from us to spoil your holiday season, but senior career managers in government might want to consider preparing for the worst. Suppose the coming Trump administration does get Schedule F in place. Are ready for a forced retirement or change in career? Some advice now from retirement expert Tammy Flanagan. Learn more about your ad choices. Visit podcastchoices.com/adchoicesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

It's the season of seasons. Thanksgiving season. Christmas season. And for federal employees, it's nearly *open* season. It has a lot of moving parts. Federal. Long time expert in all things having to do with federal employment and post-employment Tammy Flanagan. Learn more about your ad choices. Visit podcastchoices.com/adchoicesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

It's the season of seasons. Thanksgiving season. Christmas season. And for federal employees, it's nearly *open* season. It has a lot of moving parts. Federal. Long time expert in all things having to do with federal employment and post-employment Tammy Flanagan. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Lots of federal employees like to pin their retirements to the end of the year. It makes for nice closure on a career. But if you mean this year, there's no time to lose. Retirement is all about the planning you do ahead of time. I got the lowdown from one of the top retirement planning experts, Tammy Flanagan. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Lots of federal employees like to pin their retirements to the end of the year. It makes for nice closure on a career. But if you mean this year, there's no time to lose. Retirement is all about the planning you do ahead of time. I got the lowdown from one of the top retirement planning experts, Tammy Flanagan. Learn more about your ad choices. Visit podcastchoices.com/adchoicesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Retirement from a career should mean an exciting new phase in life...not a glidepath to the graveyard. Federal retirees tend to be a feisty group. One reason is they tend to prepare carefully. Retirement expert Tammy Flanagan has some observations, and joins me now. Learn more about your ad choices. Visit megaphone.fm/adchoices

Retirement from a career should mean an exciting new phase in life...not a glidepath to the graveyard. Federal retirees tend to be a feisty group. One reason is they tend to prepare carefully. Retirement expert Tammy Flanagan has some observations, and joins me now. Learn more about your ad choices. Visit podcastchoices.com/adchoicesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The end of July isn't the end of summer. But the leaves are dryer and the cicadas louder. That means autumn and time to think about end-of-year retirement planning. Here with some tips to think about, federal retirement expert Tammy Flanagan. Learn more about your ad choices. Visit podcastchoices.com/adchoicesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The end of July isn't the end of summer. But the leaves are dryer and the cicadas louder. That means autumn and time to think about end-of-year retirement planning. Here with some tips to think about, federal retirement expert Tammy Flanagan. Learn more about your ad choices. Visit megaphone.fm/adchoices

Social Security taxes start automatically the day you start working. But when the time comes you have got to file an application to get your benefits. When to file? Well, it's not that simple. You need a "strategery." To look at some of those important considerations, Federal Drive Host Tom Temin talked with federal retirement expert Tammy Flanagan. Learn more about your ad choices. Visit podcastchoices.com/adchoicesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Social Security taxes start automatically the day you start working. But when the time comes you have got to file an application to get your benefits. When to file? Well, it's not that simple. You need a "strategery." To look at some of those important considerations, Federal Drive Host Tom Temin talked with federal retirement expert Tammy Flanagan. Learn more about your ad choices. Visit megaphone.fm/adchoices

The government might employ some two million people, but no two federal employees are alike. That's why career and retirement planning can be complicated. For instance, what if you're old enough to retire but have less than 30 years in. For insight into what's known as MRA plus 10, Federal Drive Host Tom TEmin spoke to long-time federal retirement expert Tammy Flanagan. Learn more about your ad choices. Visit podcastchoices.com/adchoicesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The government might employ some two million people, but no two federal employees are alike. That's why career and retirement planning can be complicated. For instance, what if you're old enough to retire but have less than 30 years in. For insight into what's known as MRA plus 10, Federal Drive Host Tom TEmin spoke to long-time federal retirement expert Tammy Flanagan. Learn more about your ad choices. Visit megaphone.fm/adchoices

Are you ready to retire? Have you considered the emotional part of this journey? Are you and your spouse on the same page about your golden years and have the same expectations? Let's discuss long-term plans, the difficult situations that life can bring, and the importance of ensuring you enjoy your golden years and create memories with your family! Join hosts Micah Shilanski and Tammy Flanagan as they explore honest conversations about life after work. From financial planning to emotional preparedness, they cover it all, helping you navigate retirement gracefully and practically. https://zurl.co/AxlT

February 26, 2024 on ForYourBenefit, our host Bob Leins, CPA® welcomes back our original program guests Tammy Flanagan, NITP Senior Benefits Director, Karen Schaeffer, CFP®, Marc Levine, Esquire, and Tom O'Rourke, Counsel. This is our final episode. We have enjoyed our weekly conversations for the past 18 years. Thank you to our loyal listeners for tuning in as we discussed topics ranging from benefits to finance to estate planning and everything in between. Our guests gather today to share their memories, stories, and closing thoughts. Join us as we reminisce about the years of hosting this radio program. We hope you have learned a great deal over the years and encourage you to visit our website to stay in touch with NITP. For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

December 4, 2023 on ForYourBenefit, our host Bob Leins, CPA® welcomes Tammy Flanagan, Senior Benefits Director, NITP. Have you procrastinated on your Open Season homework? Don't worry, there is still time. Are you in the plan that matches your needs? Price is not the only factor which is why this decision can be confusing. During this program, Tammy will break this process down into simple steps everyone can take to review and select the best coverage for 2024. Step 1: Review your current coverage and changes in your current plan for 2024. Step 2: Did you have any significant healthcare events or issues in 2023? Do you anticipate any changes in your healthcare needs in 2024? Are you planning a move, a marriage, a milestone birthday? Do you now qualify for Medicare? Step 3: Use the www.opm.gov healthcare information and plan comparison tool and the Consumers' CHECKBOOK Guide to Health Plans for Federal Employees to narrow down your options. What are your Top 3? Step 4: Consider your need to continue or enroll in a FEDVIP dental and/or vision plan. Evaluate cost along with value. Step 5: Current Federal employees – it's time to make your Flexible Spending Account election for 2024. For questions or comments, email us in advance at ForYourBenefit@nitpinc.com Copyright © 2023 Federal News Network. All rights reserved. This website is not intended for users located within the European Economic Area.

November 20, 2023 on ForYourBenefit, our hosts Bob Leins, CPA®, and Tammy Flanagan, Senior Benefits Director NITP, welcome insurance expert and author Walton Francis and his colleague Kevin Moss to talk about FEHBP Open Season. The Consumers' CHECKBOOK Guide shows that most families can save $2,000 or more by selecting better plan choices. Francis and Moss are the principal authors of both online and print versions of Consumers' CHECKBOOK Guide to Health Plans for Federal Employees. The Guide gives you vital insurance information that you cannot get from any other source. It tells you how much money you can save by changing – or by staying in – your health insurance plan and summarizes thousands of facts about the plans to simplify your choice. At the Guide's website, www.guidetohealthplans.org, you can check to see if your agency has purchased access to the Guide for you. It rates about 160 health insurance plans available to Federal employees and retirees, including about 20 national plans, and about 140 health maintenance organizations (HMOs) and other local plan options, including two dozen Consumer-Driven and High Deductible plan options. The Guide rates not only regular insurance plans open to both employees and annuitants, but also about 40 plans open only to annuitants on Medicare that provide special Medicare benefits, pay most or all of the Part B premium, or both. Its ratings of plan costs take into account premiums, catastrophic limits, and estimates of likely out-of-pocket costs for medical expenses of every kind. The Guide compares plans for insurance value in dealing with unforeseen medical expenses, not just for the routine costs you can predict. It rates dental and vision plans as well. It provides dollar estimates of likely dental costs, taking into account both premiums and out-of-pocket expenses. It compares dental coverage in all plans, not just stand-alone plans. For questions or comments, email us in advance at ForYourBenefit@nitpinc.com Copyright © 2023 Federal News Network. All rights reserved. This website is not intended for users located within the European Economic Area.

November 6, 2023 on ForYourBenefit, host Bob Leins, CPA® and co-host Tammy Flanagan, Senior Benefits Director at NITP, Inc. welcome back Paula S. Jakub, RHU, CEO at The American Foreign Service Protective Association, sponsor of the Foreign Service Benefit Plan.  Today's topic will focus on things to consider during Federal Open Season and how to get the most out of the health plan you choose. Paula is a Subject Matter Expert in Federal Health Insurance and serves on the adjunct faculty of the Foreign Service Institute.  Paula will discuss: FEHB PROGRAM OPM Initiatives and 2024 Benefits Obesity Treatment Infertility Treatment and Women's Health Mental Health/Substance Use Disorder Support Gender Affirming Care Lifelong Health/Wellness and Support for Chronic Conditions  Consider how you use health care Latest on Medicare, including the Federal Medicare Advantage Plans and NEW: Plans offering Medicare Prescription Drug Plan FEDVIP Make sure you understand these supplemental plans FSAFEDS ·     Pre-tax reimbursement for eligible costs ·     What is an eligible cost? ·     Rules on carryover amounts For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

In 2021, we offered an episode diving into the various options that are available for long-term care insurance. Shortly after we aired that program, the Federal Long Term Care Insurance Program (FLTCIS or LTCFEDS) stopped accepting new applications and enrollments and changes to existing enrollments, and the stoppage is expected to last through at least December 2024. At the same time, the program is going through a contract renewal which is resulting in premium increases for many enrollees. This week, we welcome back Federal retiree and benefits expert Tammy Flanagan of Retire Federal. She breaks down the basics of LTC insurance, how the Federal program works, what these rate increases may mean, and the options LTCFEDS enrollees have as these changes occur. Don't miss this informative episode on a widely used Federal program. Links: Retire Federal - https://www.retirefederal.com/Tammy's previous episode on Federal Retirement Planning - https://afspatalks.buzzsprout.com/1756283/11388923-afspa-talks-federal-retirement-planningAFSPA Talks Long Term Care Insurance episode - https://afspatalks.buzzsprout.com/1756283/9592735-afspa-talks-long-term-careTammy's podcast "Plan Your Federal Retirement" - https://plan-your-federal-retirement.com/podcasts/

During this week's episode of NAPS Chat, Government Executive columnist and founder of "Retire Federal" Tammy Flanagan joins Bob to talk about the growing number of USPS retirees who seek post-retirement employment. Tammy and Bob talk about issues that such retirees ought to consider when embarking on an "encore career."  Bob also shares news relating to the September 7 Senate confirmation hearing of PRC Commissioner Robert Taub, and regulatory updates relating to the Delivering for America plan

July 24, 2023 on ForYourBenefit, host Bob Leins, CPA® welcomes Tammy Flanagan, Senior Benefits Director at NITP. It seems that everyone has an opinion when it comes to retirement decisions. Many of these opinions are stated as though they're facts. Some of the questions from Federal employees about retirement center around relatively straightforward facts in law or policy. Here are some of the most common: Will I get a cost-of-living adjustment on my retirement benefit? What are the requirements to continue my health insurance coverage into retirement? Do I have to begin taking payments from my TSP account when I retire from Federal service? Other questions, though, require opinions because they lack a definitive right or wrong answer. In the retirement world, these often start with “Should I…” Here are some of the ones frequently asked: Should I… File for Social Security at 62? Leave my money in the Thrift Savings Plan after retirement, or move it to an IRA? Retire when I am first eligible to collect a benefit, or continue working? The answer to all of these is, well, it depends. When it comes to retirement decisions that may be hard to change later, it is important not to focus on the money you save now, but the cumulative cost your decision can have over the next decade or several decades. After all, for many Federal retirees, life after government may last longer than their working careers. For questions or comments, email us in advance at ForYourBenefit@nitpinc.com Copyright © 2023 Federal News Network. All rights reserved. This website is not intended for users located within the European Economic Area.

May 15, 2023 on ForYourBenefit, hosts Bob Leins, CPA® and Tammy Flanagan, Senior Benefits Director NITP, welcome Mary Beth Franklin, Certified Financial Planner®, Contributing Editor for InvestmentNews, President of RetirePro, and foremost Social Security expert. What are the claiming strategies for Social Security that will maximize your retirement security? When does it make sense to claim Social Security at 62? When does it make sense to delay claiming Social Security? Can you still do-over your Social Security election or can you suspend your benefit payments? What is the difference between payroll taxes and the income taxes you may have to pay on your benefits? What are the “Social Security Trust Funds”? How is Social Security financed? Is Social Security going broke? What does the 2023 Social Security Trustees report mean when it states: The fund's reserves will become depleted and continuing tax income will be sufficient to pay 77% of scheduled benefits? What are the likely changes that lawmakers will make to reduce or eliminate the long-term financing shortfalls in Social Security and Medicare? What is the purpose of the Social Security cost-of-living adjustment? Inflation is at near record highs; will the COLA keep up with inflation? If I delay Social Security past age 62, will I miss out on the COLAs? For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

May 1, 2023 on ForYourBenefit, host Bob Leins, CPA® welcomes Tammy Flanagan, Senior Benefits Director at NITP, Inc. Choosing YOUR best date to retire will help you maximize and coordinate your final days on the payroll of your agency with the first days of receiving your hard-earned retirement benefit. Today's program will address the details that you need to know as you begin your transition to retirement under FERS and CSRS: Determine if choosing the end of the year for your retirement makes sense. Learn the benefits of a mid-year separation for your retirement. Once you decide on your exact retirement date, then you can figure out the value of your lump sum annual leave payout and the amount of “use or lose” sick leave you will have. Tax planning should be part of your “best date to retire” decision. Learn how to prepare for delays in retirement processing that may occur throughout the retirement planning process. There are clues to know when it's “time” for retirement. YOUR best retirement date may not be the same as your coworkers. There are important retirement planning steps everyone should take during the months leading up to your retirement date. Know when to “turn on” your Social Security retirement.   For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

April 17, 2023 on ForYourBenefit, host Bob Leins, CPA® and co-host Tammy Flanagan, Senior Benefits Director at NITP, Inc., welcome Kim Weaver, Director, External Affairs, Federal Retirement Thrift Investment Board. Today's discussion will focus on answering the following questions: The TSP changed recordkeepers last June. What did participants get from the transition? SECURE 2.0 became law at the end of 2022 and made a number of changes that apply to the TSP. What are they and when are they going to be implemented? Stats! How many participants receive the 5% match? How many millionaires? Average account balances? What were the administrative expenses for 2022?

November 28, 2022 on ForYourBenefit, our host Bob Leins, CPA®, welcomes Tammy Flanagan, Senior Benefits Director NITP, and Karen Schaeffer, CFP®. Karen and Tammy will discuss the retirement topics that cross the line. The line between your Federal benefit decisions and your financial planning, that is! Is Medicare Part B necessary and if so, how do you present this information to your clients/students? Social Security claiming strategies: Early or later? Survivor benefit elections Determining the need for life insurance at pre-retirement Is LTC insurance for everyone? How does this coverage affect the family? For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

November 21, 2022 on ForYourBenefit, our hosts Bob Leins, CPA®, and Tammy Flanagan, Senior Benefits Director NITP, welcome insurance expert and author Walton Francis and his colleague Kevin Moss to talk about FEHBP Open Season. The Consumers' CHECKBOOK Guide shows that most families can save $2,000 or more by selecting better plan choices. Francis and Moss are the principal authors of both online and print versions of Consumers' CHECKBOOK Guide to Health Plans for Federal Employees. The Guide gives you vital insurance information that you cannot get from any other source. It tells you how much money you can save by changing – or by staying in – your health insurance plan and summarizes thousands of facts about the plans to simplify your choice. At the Guide's website, www.guidetohealthplans.org, you can check to see if your agency has purchased access to the Guide for you. It rates about 270 health insurance plans available to all Federal employees and retirees, including twenty national plans, over 200 health maintenance organization (HMO) and preferred provider (PPO) local area options, and over a dozen consumer-driven and high deductible plan options. The Guide rates not only regular insurance plans open to both employees and annuitants, but also about 20 plans open only to annuitants on Medicare that provide special Medicare benefits, pay most or all of the Part B premium, or both. Its ratings of plan costs take into account premiums, catastrophic limits, and estimates of likely out-of-pocket costs for medical expenses of every kind. The Guide compares plans for insurance value in dealing with unforeseen medical expenses, not just for the routine costs you can predict. It rates dental and vision plans as well. It provides dollar estimates of likely dental costs, taking into account both premiums and out-of-pocket expenses. It compares dental coverage in all plans, not just stand-alone plans. For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

There are many factors that can determine anyone's retirement plans. Family, employment, economics and many other things can change a person's plans for when and how they're going to retire. Many federal workers certainly are in line to retire this coming year and No one wants to retire at a bad time, either for their personal life or finances.  Tammy Flanagan writes the weekly Retirement Planning column for us here at GovExec. She runs her own consulting business and also provides individual counseling as well as online training for the National Active and Retired Federal Employees Association. Her annual Best Dates to Retire column is online now and, as part of our #MoneyMonday series, she joined the podcast to discuss the best 2023 dates to retire.

October 24, 2022 on ForYourBenefit, host Bob Leins, CPA® and co-host Tammy Flanagan, Senior Benefits Director at NITP, Inc. welcome back Paula S. Jakub, RHU; CEO at The American Foreign Service Protective Association, sponsor of the Foreign Service Benefit Plan. Today's topic will focus on things to consider during Federal Open Season and how to get the most out of the health plan you choose. Paula is a Subject Matter Expert in Federal Health Insurance and serves on the adjunct faculty of the Foreign Service Institute. Paula will discuss: FEHB PROGRAM COVID-19 Impact on Healthcare OPM Initiatives and 2023 Benefits Lifelong health/wellness and support for chronic conditions Consider how you use health care Latest on Medicare, including the new Federal Medicare Advantage Plans FEDVIP Make sure you understand these supplemental plans FSAFEDS Pre-tax reimbursement for eligible costs What is an eligible cost? Rules on carryover amounts For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

Listen to the final Your Turn with Mike Causey show. It's a special tribute to Mike, who passed away in late September 2022, hosted by Federal Drive anchor Tom Temin and executive editor Jason Miller. Current and former Federal News Network colleagues and long-time guests of Your Turn will join this hour-long, commercial-free discussion about Mike's impact on the federal community, share stories and memories of a man who impacted all of us with his wit, his knowledge and his desire to share and explain the intricacies of the federal world. Guests include: FNN General Manager Joel Oxley WTOP Program Director and former FNN Web Operations director Julia Ziegler FNN reporter Jory Heckman Tammy Flanagan Jessica Klement Art Stein Abraham Grungold Former FNN Editor-in-Chief Lisa Wolfe Former In-Depth anchor Francis Rose Former Federal Drive co-host Jane Norris Former Your Turn producer Lauren Larson

In this episode of AFSPA Talks, federal benefits expert, Tammy Flanagan, joins AFSPA COO Kyle Longton, to talk about the importance of retirement planning and the work she does at Retire Federal. She walks through the broad considerations for any federal employee as they consider their future after retirement before diving into the often-complicated topic of life insurance within the FEGLI program. You can see Tammy's work elsewhere at:Retire Federal: https://www.retirefederal.com/For Your Benefit (Federal News Network): https://federalnewsnetwork.com/category/radio-interviews/fyb-archives/Government Executive: https://www.govexec.com/voices/tammy-flanagan/2340/Plan Your Federal Retirement Podcast: https://plan-your-federal-retirement.com/podcasts/

June 27, 2022 on ForYourBenefit, host Tammy Flanagan, Senior Benefits Director NITP, welcomes Mary Beth Franklin, Certified Financial Planner®, Contributing Editor for InvestmentNews, President of RetirePro, and foremost Social Security expert. Tammy and Mary Beth will explore the following important topics: What are the claiming strategies for Social Security that will maximize your retirement security? When does it make sense to claim Social Security at 62? When does it make sense to delay claiming Social Security? Can you still do-over your Social Security election or can you suspend your benefit payments? What is the difference between payroll taxes and the income taxes you may have to pay on your benefits? What are the “Social Security Trust Funds?” How is Social Security financed? Is Social Security going broke? What does the 2022 Social Security Trustees report mean when it states: The fund's reserves will become depleted and continuing tax income will be sufficient to pay 77 percent of scheduled benefits? What are the likely changes that lawmakers will make to reduce or eliminate the long-term financing shortfalls in Social Security and Medicare? What is the purpose of the Social Security cost-of-living adjustment? Inflation is at near record highs; will the COLA keep up with inflation? If I delay Social Security past age 62, will I miss out on the COLAs? For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

When Social Security was launched in 1935, the average life expectancy for men was 59.9 years and 63.9 for women. Full benefits started at 65, so do the math! It sounded almost like a safe, government-guaranteed Ponzi Scheme, minus the scheme part. But times have changed. The bad news, from an actuarial basis, is that we are living longer. A lot longer. A growing number of people are and will spend more time in retirement, getting Social Security, than they did working and paying into it. Again, do the math! Optimists predict Congress will fix it. Maybe make millionaires pay Social Security taxes on all of their income. Maybe raise them for everybody. Others, including many young people, say it's too late, or soon will be. That there won't be anything for them 99 years after the program began. For an update on the fate of your Social Security, we invited Tammy Flanagan to be on today's Your Turn radio show.

For many career feds and postal workers the best date to retire is simple! You haul assets ASAP. You leave a soon as you are eligible to receive an immediate annuity. Period. Maybe you hate your job. Or your colleagues. Or the boss. Or all of them. Maybe you are ill. Or want to travel. Or not have to fight rush hour traffic anymore. Simple, right? Well, not necessarily. Retiring as soon as you can may seem like a good idea now. But what about then, which always follows now? How will it impact you financially 10, 20 or 30 years into retirement when inflation has nibbled away at (or gobbled up) your FERS annuity? When your TSP balance shrinks either due to inflation or to a recession? That might not be the right way to approach it. In fact, benefits expert Tammy Flanagan says there are two other factors: The future forecast: How you can (and should) set and control the actual NET value (after taxes and deductions) of your annuity. And mandatory or voluntary TSP withdrawals. Also, the impact of retiring early, or waiting several years on both your FERS annuity and, just as important, your Social Security benefit.The difference between taking Social Security as soon as you can (age 62?) and waiting until age 70 is huge. Check out what that delayed financial gratification would be for you. So how do you figure your retirement trifecta? Easy, listen to our Your Turn radio show today at 10 a.m. Benefits and retirement expert Tammy Flanagan will be my guest. She'll talk about how you can figure your best retirement date, and why those factors can add tens of thousands of dollars, both in FERS benefit and Social Security, to your lifetime retirement nest egg.

May 2, 2022 on ForYourBenefit, host Bob Leins, CPA® welcomes Tammy Flanagan, Senior Benefits Director, NITP. This topic has become more complicated for employees retiring under the three-tiered FERS retirement system that includes Social Security, the FERS Basic Benefit (government pension) and the Thrift Savings Plan. Today's program will focus on the “best dates” to separate from Federal service under CSRS and FERS, and will also address the questions that are on many employee's minds: Teleworking over the past two years has caused many to consider retirement, especially if being ordered to return to the office. Learn how to prepare for delays in retirement processing that have occurred throughout the retirement planning process. There are clues to know when it's “time” for retirement. The best retirement date may not be the same as your coworkers. There are important retirement planning steps everyone should take during the months leading up to your retirement date. The discussion may also include the following related topics: There are mental, financial, and tax preparations that need to be done before selecting your date. It is important to have an idea of how you will spend your time in your life after retirement. Retirement can last a long time. Some Federal retirees receive benefits for more years than they worked for the government. How to prepare for longevity risk. Retirement is a taxable event! Learn how your benefits will be taxed in retirement. Gross vs. Net: Understand the withholdings and reductions that will impact your net income during retirement. Selecting the best date to retire under FERS and CSRS: The last day of the month for FERS, CSRS and CSRS Offset optional retirements The first three days of the month for CSRS and CSRS Offset Any day might be a great day for your retirement The rules are a little different for disability, early retirements and deferred retirements The end of the leave year remains a popular date for many Feds Be sure to include your leave balance in the retirement planning process Thrift Savings Plan drawdown: You can use your TSP to supplement your monthly FERS and Social Security benefits. Be sure that you have a plan for managing your TSP post-retirement. Applying for withdrawals from the TSP will get easier this summer! Know when to “turn on” your Social Security retirement: How would you answer the following questions? What if you are working past your full retirement age? Do you plan to work after you retire? Are you retiring under age 62? Are you married, widowed or divorced? Did you start a family later in life? Do you have a history of longevity in your family? Will you receive a CSRS retirement benefit? Consider the Windfall Elimination Provision and the Government Pension Offset. For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

March 28, 2022 on ForYourBenefit, host Bob Leins, CPA® and co-host Tammy Flanagan, Senior Benefits Director at NITP, Inc., welcome Kim Weaver, Director, External Affairs, and Jim Courtney, Director of the Office of Communications and Education. Today's discussion will focus on answering the following questions: The TSP is adding new features this summer – what are they and how will they help participants? The TSP simplified the way catch-up contributions are made.  Did it help? The country has been dealing with the pandemic for two years now – did that impact the TSP or its participants? Stats!  How many participants receive the 5% match?  How many millionaires?  Average account balances? What were the administrative expenses for 2021? For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

March 21, 2022 on ForYourBenefit, host Bob Leins, CPA® welcomes Tammy Flanagan, Senior Benefits Director, NITP. “I believe legends and myths are largely made of truth.” – J.R.R. Tolkien Today's show will tackle some of the current urban myths that frequently circulate in pre-retirement seminars and among Federal employees who have heard these stories from a friend of a friend or they may have even read about them somewhere. Here are some that you may have heard: Retirees need 70% to 80% of their current income in retirement. Maxing out your Thrift Savings Plan is all you need to do to save for retirement. At retirement, your investments should become very conservative. If you have coverage under the Federal Employees Health Benefits Program, there's no need to enroll in Medicare when you turn 65. Only those people in good health should consider a high deductible health plan. You can't count on Social Security for your retirement years. Those who retire in 2022 will receive the 2022 COLA in their January 2023 retirement benefit payment. For those who retire after the January 2022 annual General Schedule pay adjustment takes effect, their high-three average salary used to compute their CSRS or FERS retirement benefit will reflect this new rate as one of the three years. If an employee dies before retirement, the benefits available to his or her survivors come only in the form of lump-sum payments. Federal retirees cannot receive Social Security spousal or widow's benefits. For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

When the time comes and you decide to retire from your federal career, what exactly is the first step? Certain pieces of the federal retirement process can leave you feeling uneasy. There are a few steps you can take to make the process smoother though. To find what they are, Federal News Network's Eric White spoke with federal retirement expert Tammy Flannagan on Federal Drive with Tom Temin.

The Thrift Savings Plan is an important part of retirement security for federal employees and has launched several new options for how to manage or take withdrawals from one's account. Federal retirement expert Tammy Flanagan joined Federal Drive with Tom Temin for some advice to dealing with the changes.

You work, you retire, you collect Social Security. Simple, right? If only — actually it takes a lot of thinking about the optimal time to collect Social Security. Federal retirement expert Tammy Flanagan joined Federal Drive with Tom Temin to discuss some of the considerations employees should make before leaving.

No one ever said marriage was simple. For federal employees getting set to retire, having a spouse definitely complicates things. For some of the decisions and what goes into them, federal retirement expert Tammy Flanagan joined Federal Drive with Tom Temin.

When the sap rises and the cherry blossoms peak and fade, some folks thoughts turn to retirement. Yet if you want real stress in your life, just go ahead and prepare to retire. It isn't easy but federal retirement expert Tammy Flanagan knows some of the ways to bring back a little certainty. Hear her advice on Federal Drive with Tom Temin.

With spring just around the corner, young folks' thoughts turn to flights of fancy. Everyone else wonders whether it's time to retire. If you're in the latter group, you've got to do some careful research before having a mimosa every morning. Federal retirement planning expert Tammy Flanagan joined Federal Drive with Tom Temin for some of the important questions that need asking.