For Your Benefit Federal News Network | Hubbard Radio

May 22, 2023 on ForYourBenefit, host Bob Leins, CPA® welcomes Herb Casey, Transition and Federal Benefits Specialist.
There are many things to consider when making the decision to transition to retirement. Most people plan for retirement without thinking about how family can impact the process.  How will your spouse, children, grandchildren, parents, siblings, and extended family affect your retirement?  There are positives and negatives. Herb will talk about how family can impact finances, emotions, and mental health in retirement.
For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

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 8, 2023 on ForYourBenefit, host Bob Leins, CPA® welcomes Kari Utz-Wolsky, Nutrition and Conditioning Specialist, CFT, SPN, SSC (ISSA).  We do spring cleaning for the house, why not for ourselves? Get a head start on your summer fitness goals. On today’s program, Kari will talk about:

How to clean up your mental space

Using gardening as grounding

Tips for seasonal allergy relief

Don’t be a target for the pesky bugs

Send in a question: 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 24, 2023 on ForYourBenefit, host Bob Leins, CPA® welcomes Joel Cundick, CFP®. On today’s program, Joel will talk about what to do after the sudden death of a spouse, parent, or other family member.  He will discuss the importance of having finances in order in advance and answer the questions:

What information can you gather now to minimize the difficulty of a possible death of a spouse?

What modifications should be made to a portfolio to stress-test it for that kind of change?

If you have recently lost a spouse, what are the most important things to do financially?

What dates are critical to remember and why?

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?