Federal employees thinking about retiring before 2020 need to get planning. Now.
My clients frequently ask about preparing for their retirement. I’m all about planning. Getting prepared for what might be ahead is a wise way to go.
As Benjamin Franklin told us, “If you fail to plan, you are planning to fail!”
Federal employees are being advised to plan for their retirement years in advance. OPM’s Associate Director of Retirement Services says preparing for retirement one year out is starting too late.
“If I were to retire a year from now, I’m behind the power curve,” Ken Zawodny said. “I should have been looking at my records four, five, six years ago, ensuring that there’s no missing service in there, that my [human resources office] has all of the information that they need to have.”
Those considering retirement need to start now reviewing the information in their employment records to ensure all is correct and they should considering their options for other benefits, TSP, and insurance.
This article outlines what federal workers need should do now to avoid unintended consequences that can come with failing to have enough time to plan.