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RETIREMENT NO-NO’S
In terms of pre-retirement planning, you could be making
a huge mistake if you’re:
 | A CSRS-covered worker and assuming that, after working 30 years of
creditable service, it’ll be simple to live on an annuity totaling 56.25%
of your high-3 average pay – and nothing else. |
| A FERS-covered worker and assuming that, after 30 years of creditable
service and no (or limited) TSP contributions, it’ll be simple or easy to
live on an annuity totaling 30% of your high-3 average. |
| Assuming that your personnel file is accurate and contains all the
creditable service you have accumulated. |
| Thinking that anyone can continue FEHBP coverage into retirement, with the
government still paying its share of the premiums. |
| Planning on canceling your FEHBP coverage because it’s not necessary
after you qualify for Medicare. |
| Viewing estate planning as a process valuable only for elderly people. |
| Consider retirement planning as largely a waste of time because
"there are too many variables." |
| Thinking that "I can work forever." |
| Assuming that the amount of your Social Security benefit is going to be
based solely on the number of credits (or coverage quarters) you’ve
accumulated. |
| Thinking that the soonest you can access money in your TSP account is at
age 59 ½ or older. |
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