Course description
Rcademy’s Retirement Planning for Federal Government Employees Training Course is specifically designed to maximize the abilities of the trainees in retirement planning. Trainees will be able to tackle all issues in the retirement planning field. Moreover, they will also be able to plan, overview and assess retirement at any point in their career.
What is the best age for retiring from federal government service?
The retirement age for federal government service varies from country to country. However, the best age to be retired from federal government service is between 62 and 65.
What is the first step of retirement planning?
The very first step of retirement planning is defining retirement. In this step, you should write down the goals that you want to achieve, like places to visit, moving to a certain place, taking a world tour, etc. At this point, be descriptive about your first five goals. The second part of this step is to brainstorm the expenses for each goal.
Rcademy’s professionals ensure that each topic is aligned with the market’s requirements. Additionally, they deliver knowledge with a perfect blend of theoretical and practical lessons so that trainees would not hesitate even for a second when they start their careers.
Upcoming start dates
Suitability - Who should attend?
Upon the successful completion of this course, the participants will:
- Comprehend the real benefits received by federal government employees and their family members
- Learn how to increase the federal benefits
- Master the skills of calculating the best date to be retired
- Understand the withdrawal options and the TSP
- Apprehend the role of sick and annual leave at retirement
- Learn the factors that are crucial in checking the eligibility for the federal retirement programs
- Learn the ability to check the eligibility for the social security aspect of the retirement benefit
- Understanding complex topics like COLA and Medicare
- Know how to calculate the benefits of the retirement
- Learn basic jargon, its meanings, and where to use them properly
- Comprehend the survivor benefits
- Apprehend the role of tax planning and how to it for maximizing the benefits for the federal government employees
- Attain the knowledge of complex topics such as powers of attorney and wills and understand their utilization in the real-life
- Learn the complications during the retirement planning
- Comprehend all stages of retirement and how to go through all stages safely by following do’s and don’ts
- Learn how to be flexible during retirement transition by understanding its different aspects
- Learn how to live a healthy life after retirement
- Understand the financial planning to minimize taxes, whether income or financial
- Comprehend how to continue to be eligible in case of early retirement, disability, or deferred retirement
- Learn service credibility and its relation to retirement
Training Course Content
All of the essential topics required to be completed to become a certified professional are presented below:
Module 1: Overview of Retirement Planning
- What is Retirement Planning?
- What is the process of retirement planning in general?
- Why is retirement planning important?
- Important terms
- What is the difference between retirement planning in general and specifically related to the employees of the federal government?
Module 2: Federal Retirement Programs
- What are federal retirement programs?
- Benefit sources of Federal Retirement Programs (Social Security, basic benefit plan, and TSP)
- Eligibility criteria
- Applying for federal retirement programs
- Understanding COLA
Module 3: Retirement computation and calculation
- Essential information for computing the retirement
- Straightforward calculations that neither require a degree in mathematics nor help from experts
- How to compute the retirement benefits?
- Process of calculating the retirement pay for federal government employees
- Process of calculating the retirement pay (excluding taxes) for federal government employees
- Explanation of the credit of service in the retirement computation process.
- Calculating the retirement date
Module 4: Different cases of retirement and answering complicated questions
- Resignation
- Disability
- Early retirement
- Discontinued service
- Retirement application and benefits to be expected afterward
Module 5: Other fundamental benefits of Retirement for federal government employees
- Everything about “Survivor Benefit Election”
- Health benefits
- Medicare and its need
- Social security explained
- Social security benefits (Survivor and spousal)
Module 6: Tax Planning and long-term care
- Types of taxes to care of (income and financial taxes)
- Basic investment strategies for retirement planning to optimize the benefits of federal government employees
- Pro investment strategies for retirement planning to optimize the benefits of federal government employees
- Problems during the planning of tax
- Fund choices
- Strategies, tips and tricks to decrease the taxes
- TSP distributions
- IRA distributions
- Core TSP strategies
- RRSP strategies
- “Sale of principal residence”
- Modifications in tax after retirement
- What is a mortgage?
- Rollercoaster of Mortgage
Module 7: Psychological preparation of the federal government employees regarding retirement planning
- Psychological aspect
- Self-development
- Estimating the position and time to retire after a self and financial assessment
Module 8: introduction to estate planning
- What is estate planning?
- Why is it important?
- Essential documents (Health care and POA)
- The process of estate planning
- Estate planning problems in case of second marriages and children
- What are gift taxes and estate taxes?
- Transfer by trust and probate at the death
- Assets’ management of the transfers at death (Beneficiary designation and joint ownership)
Module 9: Cash flow during retirement
- Annuities
- RRIFs
- Other income sources
Module 10: Retirement Transition
- Stages of Retirement
- Do’s and don’ts of each retirement stage
- Career choices after retirement
- Potential health complications and living a healthy life
- Part-time work after retirement
- Volunteering after retirement
- Pros of retirement
Course delivery details
As the name suggests, the Retirement Planning for Federal Government Employees training course is specifically designed for federal government employees who wish to plan their retirement at any stage. The professionals of Rcademy use a unique and straightforward approach for this training in which each lecture either describes someone’s real-life experience with hidden tips and tracks or assigns trainees assignments and topics to discuss or perform some calculations. The input by the trainees is maximized using these types of activities.
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Rcademy
Rcademy is a global training and consultation organisation set out to bridge the gap between you now and what you can be in the near future. We are facilitators of knowledge impartation. Our team of established and experienced training enthusiasts...