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A Deep Dive into your FERS Retirement Benefits

  • Accountant
  • AFSP
  • CRTP
  • CPA (US)
  • CFA
  • EA
  • ORTP
  • TEP
  • ChFC
  • CSA
  • Maryland Tax Preparer
  • ERPA
  • FSCP
  • CASL
  • ChSNC
  • RICP
  • WMCP
  • CIPM
  • CBA/MCBA
  • CFIRS
  • CWS

Published: May, 2022

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Retirement realities - Comparing FERS
    5 mins
  • Reduced or postponed retirement
    25 mins
  • Three primary components under FERS retirement
    56 mins
  • Know which multiplier is correct for you
    110 mins
  • Your brain and the decision making cycle
    167 mins
  • Worksheet for benefits
    286 mins

Course Description

Congress created the Federal Employees Retirement System (FERS) in 1986, and it became effective on January 1, 1987. While some may be covered under CSRS, most current civilian employees are covered by FERS. This online CPE webinar will introduce the concept of individualized retirement puzzles and encourage you to begin to build theirs step-by-step. 

This CE/CPE tax course provides in-depth information on six different categories and carefully lays out situations when you might choose to take or must take one of them. Various components of the complete benefits packages are introduced along with an explanation of how they work together. The course provides in-depth information on the three major puzzle pieces, how to calculate their eligibility, and how they work together. 

Proper retirement planning requires that we understand where our money will be coming from, how much money we’ll receive, and learn what steps we can take now to maximize those benefits. Learning how to compute their FERS Annuity gives the peace of mind of understanding what steps to take now for maximum retirement income. This CE/CPE course provides in-depth information on the calculations of the FERS Annuity, including a worksheet that details each of the numerous additions and subtractions involved. You will achieve a level of understanding and mastery of the computational process; more importantly, you will see how their choices impact monthly benefit payments.

Further, it provides in-depth information on the various types of risk and details how our lens for viewing risk may co-opt the true risk of our decisions. You will learn how financial decision-making strategies work and how they can be strengthened. 

One of the three main components under FERS is Social Security. Before attaining age 62, FERS includes a Supplemental Annuity payment that bridges the start of retirement until the beginning of eligibility to claim Social Security benefits. Understanding how this can both assist and trap you are key to successful retirement planning under FERS. You will acquire mastery of financial components as they work towards a comprehensive retirement strategy. 

This CPE course provides in-depth information on health and insurance puzzle pieces. FSA, HSA, FEGLI, and FEHB are only a few of the programs where benefits can be impacted in retirement. This course explains how Medicare fits into the health equation, which choices to make, and when you should make them for a comprehensive retirement plan later. If one of the goals of retirement planning is about managing risks, these are key risks to manage. 

This course on Retirement Planning reviews those pieces of your retirement puzzle that are found in good generational planning. The estate planning information we discuss here deepens prior conversations about Wills and Trusts and discusses titling, personal property, and other considerations when planning to leave assets to beneficiaries. At the end of the course, we finish building each participant’s FERS retirement puzzle. 

This online CPE/CE Webinar covers the following key points:

  • Introduce the concept of individualized retirement puzzles
  • Information on six different categories of retirement planning
  • Three major puzzle pieces, how to calculate their eligibility, and how they work together
  • Calculations of the FERS Annuity
  • Various types of risk and details how our lens for viewing risk may co-opt the true risk of our decisions
  • What financial decision-making strategies work and how they can be strengthened
  • Supplemental Annuity payment that bridges the start of retirement
  • How financial components work towards a comprehensive retirement strategy
  • health and insurance puzzles:  how Medicare fits into the health equation, which choices to make, and when you should make them for a comprehensive retirement plan later
  • Generational Planning: Wills and Trusts, titling, personal property, and other considerations when planning to leave assets to beneficiaries.


Interested in full-day CPE approved courses? Explore other full-day CPE approved courses from HERE.

Learning Objectives

  • To identify 6 different FERS retirement categories and parameters of each type
  • To explore individualized retirement puzzles and identify the importance of strategic planning in maximizing benefits
  • To discuss 3 main components of FERS retirement, their eligibility requirements, and how they work together
  • To recognize key steps for a comprehensive retirement plan
  • To identify the impact of annual leave and unused sick leave for your FERS computation
  • To recognize different financial risk categories
  • To analyze the cycle of decision-making and de-coupling emotion
  • To explore the right way to approach financial decisions for the best outcome
  • To differentiate social security and supplemental annuity
  • To identify the full retirement age under social security and the impacts of taking early & delayed benefits. 
  • To project potential gaps in retirement income and plan a solution. 
  • To review how Congress created the Federal Employees Retirement System (FERS) in 1986, and it became effective on January 1, 1987. While some may be covered under CSRS, most current civilian employees are covered by FERS.
  • To study civil service retirement benefits
  • To know FSA, HSA, FEGLI, and FEHB are only a few of the programs where benefits can be impacted in retirement
  • To explore why participation in the TSP is critical
  • To analyze strategies around investing, asset allocation, and diversification
  • To forecast retirement accumulation
  • To identify testate and intestate and why it matters
  • To analyze the federal and states’ Order of Precedence
  • To discuss generational wealth planning and different types of Trusts that can be employed
  • To explain different types of Powers of Attorney and when they might be used
  • To finish building your FERS puzzle

Recommended For

  • The IRS Approved CE Course is recommended for CPA, CVA, CFA, CPA/PFS, TEP, ChFC, CSA, FSCP, CASL, ChSNC, RICP, WMCP, CIPM, CBA/MCBA, CFIRS, CWS, AFSP, EA, ORTP, MRTP, CRTP, ERPA, Tax Professionals, Financial professionals, Estate Planning Professionals, and Other Professionals who want to understand FERS Retirement and its six different categories.
  • Professionals who want to understand FERS Retirement and its eligibility requirements, Medicare and FERS integration, FERS annuity, and matters.
  • Professionals interested in learning how their financial decision-making strategies work and how they can be strengthened.
  • Professionals who want to understand everything about social security and supplemental annuity.
  • Finance professionals who want the tools and knowledge to help their clients make the best choices necessary to have a successful financial future.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 8 General Credit of Taxes for Accountant/Bookkeeper/Tax Professionals
  • 8 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 8 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP)
  • 8 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0970)
  • 8 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-01175-22-S)
  • 8 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-01175-22-S)
  • 8 CPD Credit for Trust and Estate Practitioners (TEP)
  • 8 CPE Credit of Taxes for Chartered Financial Consultant (ChFC)
  • 8 CE Credit of Financial aspects of estate and retirement planning for Certified Senior Advisor (CSA)
  • 8 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-01175-22-S)
  • 8 CE Credit of Qualified Retirement Plan Matters for Enrolled Retirement Plan Agent (Approval No. GEHNZ-Q-01176-22-S)
  • 8 CPE Credit of Taxes for Financial Services Certified Professional (FSCP)
  • 8 CPE Credit of Taxes for Chartered Advisor in Senior Living (CASL)
  • 8 CPE Credit of Taxes for Chartered Special Needs Consultant (ChSNC)
  • 8 CPE Credit of Taxes for Retirement Income Certified Professional (RICP)
  • 8 CPE Credit of Taxes for Wealth Management Certified Professional (WMCP)
  • 8 PL Credit of Retirement Planning for Certificate In Investment Performance Measurement (CIPM)
  • 8 CPE Credit of Taxes for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 8 CE Credit of Taxes for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 8 CE Credit of Taxes for Certified Wealth Strategist (CWS)
  • 8 PL Credit of Retirement Planning for Chartered Financial Analyst (CFA)

Additional details

  • Course Level :
    Basic
  • Credits :
    8
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

Presenter

About Presenter

Ilene Slatko

Principal, DSS Consulting

For the past 35 years Ilene has provided financial literacy and investment education for individual clients to enhance their understanding of money, finances, and investments; and to organizations with a particular emphasis on retirement planning. She has worked for notable Washington, DC area investment companies in management and in building organizational depth in financial education. 

Ms. Slatko has significant experience in the areas of leadership development, team development, career development, executive coaching and talent management. She has expertise in designing learning solutions – virtual instructor-led training and instructor-led -- to meet the unique challenges of clients. She was a key provider of executive and employee education for The Southland Corporation, U.S. Mapping, Century 21, and ERA Real Estate. She has worked with executives and leaders in the areas of communication, selling, client management, leadership development, and team development. 

Ms. Slatko has extensive experience in Federal retirement programs and training federal employees. When the previous retirement system was replaced by FERS, Ilene was at the forefront of presentations to educate affected employees in their choices. She has been a trainer for retirement presentations at agencies throughout the DC area,

She has been a speaker at conferences including the Army Materiel Command Women’s Financial Day, Delaware Women’s Conference, and numerous youth financial literacy programs. Ms. Slatko is currently the host of a weekly Roku and Apple TV show called, The *It Show, the first financial program designed specifically for young women. In addition, she has been the Director of Training for companies in the financial and real estate fields. 

Ilene is an alumna of Marietta College where she studied Drama, Speech, and English. 

About Company

DSS Consulting

www.dssfinancial.com

DSS Consulting has been guiding clients to a better understanding of money, finances, and investing since 2010. Our practice focuses on two primary areas.  

The DSS Consulting coaching model engages individuals through highly personalized action plans to assist them in becoming more financially masterful and guiding those clients through the tasks to achieve their goals. We specialize in assisting clients to better understand and harness their approach to money and then teaching them better behavioral and financial decision-making skills.

Our educational model incorporates multiple channels of outreach to foster better financial literacy and money mastery. Our streaming TV show reaches hundreds of thousands of young women each month; our retirement programs are highly valued by federal and corporate audiences; and our online webinars are available through our association with MyCPE.com. 

Finally, in furthering our goal to strengthen financial literacy, we work behind the scenes lending our expertise to online financial apps and newsletters.

Faq

FAQs content

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  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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