Military, Federal Employees, and Veteran Benefits

Military / Federal Employees / Veterans

The US government offers one of the best benefit packages

available, there are some weaknesses. When you are ready to retire,

there are alternatives you need to know about and consider.

Military

SBP: The Survivor Benefit Plan is a powerful government plan for surviving

spouses. Why doesn’t your chain of command tell you about it till you are

ready to retire? Did you know there are less expensive alternatives and

that you can put them into place long before you retire? In fact, when you

look at the benefits you receive from the government at retirement,

they can cost you far more than other alternatives. read more.

Converting SGLI: (Servicemembers’ Group Life Insurance) Coverage to

VGLI (Veterans Group Life Insurance) Service members covered under the

SGLI program have the option to convert their SGLI coverage to an individual

policy of insurance within 120 days from the date of separation from the

military. If you wait until you retire, the government plan can become so

expensive that you ultimately drop the protection. The time to consider

having some form of replacement policy is long before you retire and

it is complementary to your SBP option. Has anyone ever told you that? read more.

TSP: The Thrift Savings Plan (TSP) is a tax deferred retirement savings and

investment plan for Federal employees. It offers Federal employees the same

type of savings and tax benefits that many private employers offer through their

401 (k) plans. Military and employees covered by the Federal Employees

participate in the TSP. However, participation rules differ between the groups.

The contributions that you make to your TSP account are voluntary and are

separate from your contributions to your FERS Basic Annuity or the CSRS annuity. read more.

You should know that some Federal Employees get funds matched by their

organization. That is a great deal but if you do not get matching funds it may not

be as big a deal as you would hope. Military personnel do not get matching funds

so it may not be as attractive of a retirement savings plan as for Federal employees.

Federal Employees

TSP read more.

FEGLI Federal Employee Group Life Insurance. There are 5 voluntary programs

available to a federal government employee. It sure is a good deal while you are a

government employee! However, it can be a very expensive way to try to cover your

family after you retire or terminate federal employment. There may be less expensive

alternatives; the time to explore them is before you retire. read more.

Veterans Benefits

When we were 18, Uncle Sam sent us a post card and told us to go to the post office to

money, did he? Did you know that upon reaching age 65, you may qualify for a pension

from the VA? Probably not. This is especially critical to Veterans who have high

medical bills or require some form of assistance (home, assisted living or nursing home)

As military retirees, we provide this information as an outreach program to veterans and their

families.