62 episodes

Host Bob Leins and presenters from NITP, Inc., the national leader in Federal retirement planning seminars, present topics of interest to the Federal community including Federal benefits, Social Security, financial planning, TSP and estate planning.

For Your Benefit Federal News Network | Hubbard Radio

    • Government
    • 4.2 • 26 Ratings

Host Bob Leins and presenters from NITP, Inc., the national leader in Federal retirement planning seminars, present topics of interest to the Federal community including Federal benefits, Social Security, financial planning, TSP and estate planning.

    Changes to TSP for 2021 & CSRS Voluntary Contributions Program

    Changes to TSP for 2021 & CSRS Voluntary Contributions Program

    January 18, 2021 on ForYourBenefit, host Bob Leins, CPA® welcomes Tammy Flanagan, Senior Benefits Director at NITP, Inc. to talk about the changes to Thrift Savings Plan for 2021 and the Voluntary Contributions Program (VCP).

    Thrift Savings Plan

    The Big Change – reaching the elective deferral limit before the end of the year but continue to save, contributions will automatically continue toward the catch-up limit for those age 50 or older in 2021, even if you turn 50 by the end of the CY.
    For 2021, elective deferral limit remains unchanged at $19,500 and catch-up contributions remain at $6,500.
    What about contributions spilling over toward the catchup limit?
    Voluntary Contributions Program

    VCP available only to CSRS and CSRS-Offset employees. It allows such employees to contribute funds that can equal up to 10 percent of the total basic pay they have earned in Federal service toward their own retirement.
    CSRS employees who want to participate in this program must establish an account by completing an application to make voluntary contributions (no later than while their retirement application is being processed by OPM).
    Did you know that you can contribute up to 10% of your lifetime salary to a Roth IRA? Learn about the best kept secret of the Civil Service Retirement System, the Voluntary Contributions Program.
    Steps for putting the monies into other retirement investment vehicles, such as traditional and Roth IRAs.
    The VCP is a way to enhance your retirement income. In OPM’s brochure “Retirement Facts 10,” the Civil Service Retirement System offers this explanation: “At retirement, each $100 in your voluntary contributions account (including interest earned) will provide an annual annuity of $7 a year, plus 20 cents for each full year you are over age 55 at the time you retire.” However, it is also possible to withdraw all voluntary contributions at any time before receiving this annuity.
    For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

    • 56 min
    How to Get the Most Out of Your Federal Health Plan

    How to Get the Most Out of Your Federal Health Plan

    January 11, 2021 on ForYourBenefit, host Bob Leins, CPA® and co-host Tammy Flanagan, Senior Benefits Director at NITP, Inc. welcome back Paula S. Jakub, RHU; CEO of The American Foreign Service Protective Association, sponsor of the Foreign Service Benefit Plan.

    Today’s guest will discuss benefits in your FEHB plan that you might not be aware of and how to get the most out of your Health Plan. Paula is a Subject Matter Expert in Federal Health Insurance and serves on the adjunct faculty of the Foreign Service Institute.

    FEHB Program

    Impact of COVID-19 on Healthcare and the FEHBP
    Understanding the Programs and Services Available to You
    Collaboration on Chronic Conditions
    Using the Plan’s Wellness Programs
    Medicare and FEHBP Update for 2021
    For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

    • 52 min
    Financial & Tax Planning for the New Year

    Financial & Tax Planning for the New Year

    January 4, 2021 on ForYourBenefit, host Bob Leins, CPA® welcomes Joe Sullender, CFP® to talk about starting 2021 with a focus on re-assessing your situation.

    Plans may have changed around retirement, the market has changed, how can you reassess and move forward in the new year?

    Today’s discussion will focus on:

    Setting Goals and “Risk Management” throughout each career phase (early, mid-career, pre-retirement)
    Impact of recent changes in Tax Law under the SECURE Act
    For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

    • 52 min
    End of the Year Financial Wrap-Up

    End of the Year Financial Wrap-Up

    December 28, 2020 on ForYourBenefit, host Bob Leins, CPA® and co-host John Elliott, Federal Benefits Specialist, welcome John Jilek, CFP® to talk about end-of-year financial planning.

    Perfect vision is 20/20. Does the year 2020 have us seeing our finances through blurry lenses?

    Financial Planning in a time of international crisis has become fuzzy to say the least. There are many different tax and penalty waivers available to help individuals that have suffered either physically or financially from COVID-19.

    Some decisions are simple, others may have serious long term financial implications to your goals.

    What has changed?
    What hasn’t changed?
    What do we think 2021 holds in store for Federal Employees?
    For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

    • 52 min
    Understanding Required Minimum Distributions

    Understanding Required Minimum Distributions

    December 21, 2020 on ForYourBenefit, host Bob Leins, CPA® welcomes Brian Kurrus, CFP® to talk about Required Minimum Distributions (RMDs).

    What are RMDs and which accounts have them
    When and how to take the first RMD
    RMDs for this year
    How RMDs are calculated
    Safety of RMD withdrawal plan
    Inherited IRA options
    Impact on estate planning
    For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

    • 53 min
    Protecting Feds’ Futures Outside of Open Season

    Protecting Feds’ Futures Outside of Open Season

    December 14, 2020 on ForYourBenefit, host Bob Leins, CPA® welcomes M. Shane Canfield, CEO, and Stephanie Baker, Senior Vice President, Member Services, WAEPA.

    As Open Season ends, WAEPA would like Federal employees to know that it is never too late to start planning for the future. WAEPA works to serve Feds year-round.

    WAEPA Background
    Lessons from Open Season
    Life Insurance – A Unique and Necessary Product
    The WAEPA Difference
    Advancements in Technology
    Year-Round Application Process
    For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

    • 52 min

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