July 3, 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

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