Happy Summer!! Whether you are looking to retire in the next year or have over 20 years until you are eligible, this is a good time to review and plan for your retirement. Below is some information you may find useful as you plan.

Also, as the world swirls around us creating uncertainty I wanted to provide you with some information and provide assurance that all IHS employees have access to the services provided by the Employee Assistance Program (EAP). Please read on for more information.

SO YOU’RE GOING TO RETIRE - WHEN?

Retirement sooner (within the next year)…

Step 1 Contact your local HR/Benefits Specialist and ask for an estimate 1 year

Step 2 Upon receipt of the estimate contact your financial consultant; discuss the financial prospects of your retirement – bills paid/not paid - plans 1 year & for post retirement activity – tax implications – TSP issues, FEGLI, health benefits, FSA/HSA, etc… on going…

Step 3 Check your designations of beneficiaries and/or your will to assure these documents say what you want them to say and you know where they are 6 months

Step 4 Start serious discussion of your plans with your spouse or significant other especially about health benefits, FEGLI and survivor annuity 1 year options

Step 5 Get forms from Human Resources Specialist 3 months

Step 6 Set up appointment with HR/Benefits Specialist to ask any questions you may have about the process – it may be a good idea to include your spouse/significant other so if he/she has questions they can be addressed as well; and 30 days

Step 7 Bring completed forms and submit to the HR/Benefits Specialist for Review while you are there.

Step 8 Make contact with the Social Security Administration to check on any 30 days before benefits for which you may be entitled as well as getting information to 30 days after on the Medicare program.

Note: The best dates to retire are for those covered by CSRS the 1, 2, or 3 day of the month. The best date to retire for those covered by FERS is the last day of the month.

Use your annual leave as a buffer between your last pay period and your first annuity check. Retiring towards the end of the leave year allows you to be paid a lump sum for the maximum allowable carry over of 240 hours plus any hours you’ve accrued and not used in the current leave year – provided you retire before the end of the leave year – be careful your retirement date does not end up in the next leave year as you may lose annual leave that could be paid in a lump sum.

Retirement later…

Step 1 Ascertain under what retirement system you are covered upon entering duty (or NOW)

Step 2 If eligible make routine contributions to the TSP each pay period

Step 3 Avoid taking loans from your TSP account ongoing

Step 4 Consult with a financial planner ASAP & annually

Step 5 Work with your financial planner to determine your current and retirement needs and desires do this NOW don’t wait for 1 year before you want to retire…

Step 6 Do not ignore your financial health any more than your physical health…

Step 7 Ask questions of your local HR/Benefits Specialist ongoing

WHEN YOU NEED PERSONAL ASSISTANCE LOOK TO…

FOH4You.com: Your EAP Website

The Federal Occupational Health (FOH) is committed to helping individuals improve their well-being. One of the ways in which we reach out to our Employee Assistance Program (EAP) customers is through FOH4you.com, the FOH EAP Website. In order to encourage use of the site we are making entry easier. FOH is in the process of removing the user name and password icons and employees will simply click on "Enter" to access the site. The EAP site offers a self-help approach to employees wanting to learn more about the EAP and other related services. Employees have a wealth of information at their fingertips. EAP services are available 24 hours every day, seven days every week by calling 1-800-222-0364

Visit https://www.magellanassist.com/default.asp?extern=FOH4YOU for:

* Information, educational materials and self-help strategies to help you live healthy and work well

* Specific information about your EAP services

* Help in preparing for your session with a counselor

* Self-assessments on key behavioral health topics, including depression and alcohol abuse

* Access to a wide variety of information and resources

Following the link below will take you to the Federal Occupational Health’s (FOH) Division of Employee Assistance Program (EAP) has resource material specially for employees and their families impacted by the fires in Southern California and the  flooding in the Midwest and other areas.  This material is available online at: http://www.foh.dhhs.gov/EmergingNews