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Federal Employees News Digest : Oct 28, 2013
Kristi Dougherty General Manager Phil Piemonte Managing Editor Sherkiya Wedgeworth Online Managing Editor Becky Fenton Circulation Manager Nathan Abse Writer Mike Causey Columnist Edward Zurndorfer Columnist Published by 1105 Government Information Group, Anne Armstrong, President. 1105 Public Sector Media Group is part of 1105 Media, Inc. Neal Vitale, CEO. Corporate Headquarters: 1105 Media, Inc. 9201 Oakdale Ave., Suite 101, Chatsworth, CA 91311 www.1105media.com Office: 8609 Westwood Center Drive, Suite 500 Vienna, VA 22182-2215 Phone: Editorial: (703) 891-8554 Subscriptions: (800) 989-3363 Fax: (703) 876-5130 Internet: www.FederalDaily.com Subscription Rates: 1 year---$39 Site Licenses are available: E-mail: FENDsitelicense@ FederalDaily.com For single article reprints (in minimum quantities of 250-500), e-prints, plaques and posters contact: PARS International Phone: (212) 221-9595 E-mail: email@example.com www.magreprints.com/QuickQuote.asp The Comptroller General has ruled that federal agen- cies and departments may buy Federal Employees News Digest publications with government funds. This decision is No. B-185591. Federal Tax ID 20-4583700. DUNS #612031414. FEDERAL EMPLOYEES NEWS DIGEST (ISSN 1065-0970) is published weekly except first week in January and last week in December by 1105 Media, Inc., 9201 Oakdale Avenue, Suite 101, Chatsworth, CA 91311. Annual subscription rate is: US $39. Subscription inquiries and customer service: Mail to: Federal Employees News Digest, PO Box 15428, N. Hollywood, CA 91615-5428, customerservice@feder- aldaily.com or call (800) 989-3363, fax (818) 487-4550. © Copyright 2013 by 1105 Media, Inc. All rights reserved. Reproductions or distribution in whole or part prohibited except by site license or reprint purchase. The information in this newsletter has not undergone any formal testing by 1105 Media, Inc. and is dis- tributed without any warranty expressed or implied. Implementation or use of any information contained herein is the reader's sole responsibility. While the information has been reviewed for accuracy, there is no guarantee that the same or similar results may be achieved in all environments. Technical inaccuracies may result from printing errors and/or new develop- ments in the industry. This publication's subscriber list, as well as other lists from 1105 Media, Inc., is available for rental. For more information, please contact our list manager, Merit Direct. Phone: (914) 368-1000; E-mail: 1105media@ meritdirect.com; Web: www.meritdirect.com/1105. October 28, 2013 Vol. 63, No. 15 2 Visit us on the Internet at www.FederalDaily.com million-dollar mark. Many if not most of the TSP win- ners stayed in the stock-based C, S and I Funds when the markets plummeted several years ago. Instead of bailing out into the safety of the G Fund (which meant selling low), they stayed the course. They continued to buy into the C, S and I Funds during the years when the markets were down and the shares were on sale. Now that the markets are back, the steady investors are looking at eye-pop- ping TSP accounts. Some TSP investors who remained in the G Fund (and got relatively small returns the past few years) wonder when, and if, they should get back into the stock funds. If and when they do, they will be buying high (certainly at higher share prices than at the depths of the recession). Arthur Stein, a financial planner based in Bethesda, Md., has lots of federal clients. He says financial planning is different for people who work for Uncle Sam because of their defined benefit retirement plans. Those kinds of plans are few and far between in the private sector. More com- panies are forcing employees (via 401(k) plans) to pay for a greater portion of their retirement. He says the planning is very different for workers under the FERS retirement program than for those under the CSRS system. Stein said that FERS employees need to differentiate between their TSP alloca- tions for: (1) funds already in TSP, and (2) twice-monthly investments. "For instance, someone concerned about a market decline might move funds into G," he said. "However, they could con- tinue to invest in C, S and I. Small amounts would be invested every two weeks so there won't be much in those funds if mar- kets decline. And, if markets do decline, they want to be investing in C, S and I to take advantage of low prices." In that situation, you could be pro- tecting your current nest egg from fur- ther drops in the market while continuing to buy shares of the C, S and I Funds which---during any downtime---are on sale. That's called buying low and selling high, although a number of over-cautious investors do just the opposite. Regardless of your investing style and risk-tolerance, it helps to know when you want to retire versus when it is actually financially possible. For example: At what age did you first start thinking about---and doing something about--- retirement? Were you 50, or 60? Or, if you were smart/lucky, your wheels started cranking much earlier. And has the magic date you set for yourself changed? Very likely. According to a recent Associated Press- NORC Center for Public Affairs Research poll, about 82 percent of American workers (50 and older) expect to work in retire- ment. They may leave their current jobs, but they will be working somewhere either to keep busy and have something to do or, increasingly, because they are afraid their retirement income won't be sufficient. The AP-NORC poll also showed that 47 percent of the respondents said they expect to retire later---on average about three years later---than they originally planned. Whatever your date is, this is a good time (even with a three-year federal pay freeze) to be in a government job with guaranteed benefits---like inflation-protected retire- ment benefits and lifetime health coverage. And for FERS employees, who are now the majority of the federal workforce, the TSP and its 5 percent government match is a must investment, according to most pros. Sure, federal employees have taken some punches lately. Maybe a lot of them. And like a lot of other people, you may decide/ have to work for while in retirement. But buck up. With a little smart plan- ning and saving---even if it comes a little late---you can be in better shape to face retirement than a whole lot of other folks out there in the private sector. INSIGHT by Mike Causey continued from page 1
Oct 21, 2013
Nov 4, 2013