Fed Pilot Podcast

Retiring internationally involves considerations such as taxes, healthcare coverage, and long-term care. While you will be taxed by the US federal government regardless of your residence, you may also be subject to tax in the country you retire in. While FHB has international healthcare plans, it is essential to verify if they cover all your needs. Additionally, it is important to determine if you...

We want to highlight the importance of double-checking insurance and benefits documentation to ensure accuracy. With Linda's experience we learned, that her life insurance was coded incorrectly in the computer system after her husband passed away, and we want to help you avoid situations like this. We want to remind our Feds how important it is to review all their forms and ensure that any changes...

FedPilot has live workshops for federal employees and agencies, both in-person and online. We love the face-to-face interaction and the opportunity for real discussions and question-and-answer sessions. This is where we get to meet federal employees and understanding their needs to provide the necessary information.

In this transcript, Kevin discusses the taxation process for loans from the TSP (Thrift Savings Plan). While TSP loans have a low interest rate and allow individuals to pay themselves back, there are important tax implications to consider.

Kevin addresses a question about the Special Retirement Supply (SRS) and how it is distributed. They explain that the SRS is included in the normal pension check received by retirees. However, he caution that the SRS may not be automatically received during the initial period of up to a year or more, known as the interim pension check phase.

In this transcript, Kevin addresses a question about the impact of VA disability benefits on the Special Retirement Supplement (SRS) for federal employees. The earnings test associated with the SRS determines if retirees are eligible for the benefit based on their income.

In this transcript, Kevin discusses the F-E-H-B (Federal Employees Health Benefits) program and its applicability in retirement. He clarifies that the five-year rule for F-E-H-B does not require one's spouse to be a part of it, allowing them to be added as a plus one in retirement.

In this transcript, Kevin discusses Medicare coverage and the need for additional plans to cover prescription drugs and expenses not covered by Medicare Part B and D. He highlights the importance of understanding the different options available, such as Medicare supplementals and combinations, to ensure comprehensive coverage.

Kevin discusses the possibility of collecting both a military pension and a federal pension simultaneously. He clarifies that this is possible if an individual retired from the military and then had a separate career with the federal government as a civilian, accumulating the necessary years of service to qualify for a federal pension.

Kevin emphasizes the importance of updating beneficiaries in the Thrift Savings Plan (TSP) for federal employees. He explain that when a person dies, the assets in their TSP account will go to the designated beneficiaries.

In transcript, Kevin addresses a common misconception about federal employees' health insurance. He clarify that federal couples, who are both federal employees, do not necessarily need to have separate health insurance plans.

In this transcript, Kevin addresses the question of how part-time work affects federal employees' retirement benefits. He explain that part-time hours are treated as if they were full-time when calculating retirement benefits.

In this transcript, Kevin addresses a question regarding state taxes on federal retirement in Kansas. He explain that whether or not state tax is charged on retirement income depends on the specific source of income.

In this transcript, Kevin addresses a question about the Federal Employees' Group Life Insurance (FEGLE) coverage. He clarify that FEGLE does offer automatic approved coverage, regardless of the individual's health situation, but only when they are first hired or during rare open seasons.

Kevin emphasizes the importance of understanding and defining terms accurately when discussing retirement. He highlight the confusion that can arise when terms are mixed up, particularly in relation to the concept of a survivor.

In this transcript, Kevin addresses a question about the impact of working while receiving Social Security benefits. He explain that if someone retires at 62 and starts drawing Social Security, they may still work, but there is an earnings test that can result in a penalty.

Kevin discusses the impact of divorce on federal benefits such as the Thrift Savings Plan (TSP) and pension. He clarifies that while divorce can often affect these benefits, it is not always the case.

In this transcript, Kevin discusses a question posed in one of their workshops regarding life insurance. The person asking the question is 62 years old with considerable savings and no spouse to leave money to after their passing.

In this transcript, Kevin addresses a question about whether it is better to put money into an IRA Roth or a TSP Roth for someone who is retiring in one year.

In this transcript, Kevin addresses a question about whether it is better to put money into an IRA Roth or a TSP Roth for someone who is retiring in one year.

Kevin discusses the availability of life insurance through FEGLI for individuals with cancer. He explains that while FEGLI may become expensive over time, it remains an option for those who already have it, even if they develop cancer.

Kevin addresses a question about Medicare Part B and emphasizes the importance of proper planning. He explain that individuals cannot obtain Medicare Part B before the age of 65. Once they reach 65, they have the flexibility to decide when to enroll, even beyond the age of 100.

Kevin addresses a common misconception about adding money to the Thrift Savings Plan (TSP) after retirement. He explain that once retired, individuals cannot contribute additional funds to their TSP, even if they have inherited money or wish to continue saving.

Kevin discusses the survivor benefit program for federal employees. It is automatic for married employees, but their spouse can elect to receive a lesser or no amount of benefits by signing a form and having it notarized.

Kevin addresses the issue of exceptions in retirement planning. He discuss a specific scenario where an individual is 62 years old with only 15 years of service, but wishes to retire.