When Is the Right Time to Go?


Aug 24, 2017

 


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#41980 Aug 24, 2017

How to Know When It.s Time To GoBy Tammy Flanagan3:23 PM ETOver the next couple of weeks, I.ll be exploring a topic ofperennial interest.picking the best date to retire. But before I dothat, I thought it would be worth taking a quick look back at thesubject of deciding whether and when to leave government.So here, in case you missed them (or just want a quick refresher),are links some of my recent columns that address issues related tomoving on from a federal career.especially during these turbulent times.Thinking About Getting Out of Government? Here.s What You Need to KnowI always try to point out the value of working long enough ingovernment to retire and be eligible for lifetime health benefits andother advantages enjoyed by federal retirees. But some employees aregoing to leave government service before they are eligible for immediateretirement. If you.re in this group, here are some things you shouldknow before you leave.With Cuts on the Table, Is It Time To Go?With significant cuts to retirement benefits included in thepresident.s budget, some employees are asking if they should move uptheir retirement date to August or September so they can leave beforethe new fiscal year begins on Oct. 1. Nothing has changed yet, butoperating under an abundance of caution, it.s ��probably a good idea tohave your ducks in a row just in case you decide to move up yourretirement date.Benefits Cuts and the President.s BudgetI typically don.t write about proposed changes to benefits in mycolumn until they become law. But since there may be more support inCongress than in years past for changes to everything fromcost-of-living allowances to pension calculations, it.s worth exploringthem.The Perils and Pitfalls of Retiring Really EarlyThere are some specific issues that federal employees need tocarefully consider before pursuing a strategy of aggressively saving andinvesting in the hope of retiring at a young age. These includeeverything from deferred retirement benefits to health insurance.Can You Retire at 45?More than a few federal employees have seriously explored ways toretire at much younger than the typical age. They can achieve their goalby following four steps. But be forewarned: They.re not easy.Should You Take a Buyout?As the Trump administration looks to trim the size of the federalworkforce, agencies across government are beginning to offer separationincentives to their employees. Here.s a look at the pros and cons oftaking a buyout.Photo: Flickr user Melisa Launay

By Tammy Flanagan3:23 PM ET



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