Welcome to FEBS, your personal guide to Federal Benefit Services. Here you will find all the information you need to understand and maximize health insurance benefits (FEHB), life insurance benefits (FEHB), thrift savings plan (TSP), flexible spending accounts, and more. Federal employees get some of the best benefits out there but trying to understand them and how they coincide with Federal Retirement can be confusing and frustrating. Our Specialists are trained to help you every step of the way to get the most out of your paycheck, your benefits, and your retirement while still paying the least possible amount in taxes. Use our guides, interactive tools, and personalized services to ensure you get what you get what you deserve with FEBS – Your Partner in Federal Employee Benefits.
Financial Disciplines
How We Help Federal Employees
Complete Benefits Review
Our Specialists will complete a Personalized Benefits Review that will estimate your retirement income. We will also explain how your benefits change before and after retirement, and assist you in changing benefits to better suit your personal needs.
Retirement Assistance
Are you ready to retire, but don’t know where to start? Our specialists will walk you through the process step-by-step even assisting you in completing your retirement application so there are no errors or delays in your retirement. We also ensure that your benefits are set up exactly the way you want and need for retirement.
Risk Management Consulting
Can you retire now and know that you won’t outlive your money? Our specialists use tools such as a Social Security Report, Income Gap Analysis, and other tools to make sure you are in the best position to retire.
Have Questions?
Frequently Asked
Questions
How is federal employee retirement calculated?
The calculation is a formula determined by the years of service, the average of the highest 3 years of income, and a multiplication factor determined by the retirement system they are enrolled in (e.g., FERS or CSRS) along with other factors such as age, years of service, etc.
What is the FERS retirement plan?
The FERS retirement plan provides federal employees with savings through basic benefits, the Thrift Savings Plan, and Social Security, along with additional benefits like FEHB and FEGLI for health and life insurance coverage.
Can federal employees collect Social Security?
Most federal employees can collect Social Security. In some cases, the amount may be affected by specific rules such as the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO).
How does the Thrift Savings Plan (TSP) work?
The TSP is a retirement savings plan for federal employees. It works by allowing employees to contribute a portion of their salary to individual investment accounts, with potential matching contributions from the government, providing a source of retirement income.
When will I be eligible to retire?
Eligibility to retire is age and years of service depending on the retirement system they are enrolled in (e.g., FERS or CSRS). For example, under FERS, eligibility can range from as early as age 50 with 20 years of service to age 62 with 5 years of service.
How does military service affect federal retirement?
Military service can boost federal employee retirement by allowing the purchase of military time, potentially increasing the retirement calculation. However, Social Security rules and dual compensation restrictions need consideration in retirement planning.
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Disclaimer: FEBS (Federal Employee Benefit Services) is an independent entity and is not affiliated with, endorsed, or sponsored by the Federal Government or any U.S. Government agency. The information provided on this website is for general informational purposes only and should not be considered as official guidance or advice from the government. All members of the FEBS advisor network are licensed independent financial services practitioners. They operate independently and are not employed by FEBS. Any services provided by members of the FEBS advisor network are offered in their individual capacities as financial professionals. This website aims to provide educational resources and tools to assist federal employees in understanding their benefits and retirement options. It does not constitute financial, legal, or tax advice. Users are encouraged to consult with qualified professionals to address their specific needs and circumstances. The content on this website is subject to change without notice. While we strive to provide accurate and up-to-date information, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. In no event will FEBS or its members be liable for any loss or damage, including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of or in connection with the use of this website. By using this website, you acknowledge and agree to the terms of this disclaimer. If you do not agree with these terms, please refrain from using our website. This disclaimer is subject to change without notice, and users are encouraged to review it regularly for updates.