Photo By Alun Thomas | Mary Shutter, human resources specialist, 88th Regional Support Command, talks about...... read more read more
FORT MCCOY, Wis. – As a valuable tool for those on the verge of retirement, the 88th Regional Support Command is hosting Pre-Retirement Planning Training, June 2-4, at the 88th RSC headquarters, here.
The training is intended to prepare upcoming civilian and military technician retirees with pertinent information about retirement services as they prepare to exit the federal job system.
Leading the training is Mary Shutter, a human resource specialist with the 88th RSC, who said her job is to teach those attending the correct procedures about the retirement process and the various resources available to them as they transition out of federal service.
“I’m here to talk about the different options you have when deciding to finally retire,” Shutter said.
“It’s an overload of information, but if there’s one thing to take away from this it’s where to mail your retirement applications,” she joked.
Shutter talked about the different retirement coverages available within the Federal Employees Retirement System (FERS) and also discussed the Federal Employees Health Benefit program (FEHB) and the Army Benefits Center-Civilian (ABC-C).
“Your retirement coverage is based on when you entered federal service,” Shutter said. “Anyone like me who joined the service after 1984 was put into a different system from those before. In 1986 they decided to call it FERS, which is what almost everyone in this room falls under.”
This was to replace the former Civil Service Retirement System (CERS), Shutter said, with some of those attending the training falling under the previous system.
“Most of the people I deal with these days are under FERS and they have a lot of questions which I’m more than happy to answer because the three tiered system can be confusing,” Shutter said.
The three tiered system includes social security, the Thrift Savings Plan and a basic benefit annuity, Shutter said, with the total sum of a retirement check being derived from these sources.
Shutter said federal employees are often reluctant to contribute a large percentage of their wages to their TSP, but once they start receiving wage increases they see the benefits of the government matching their contributions.
This ends up paying off when it comes to considering retiring, she said.
Also providing insights into retirement was Charles Hudson, chief of staff, 88th RSC, who said he wants those attending to make valuable use of the information given to them.
“I want you to turn up your appreciation for life, turn up your appreciation for your family and turn up your appreciation for your future,” Hudson said. “I want you to tune in and pay close attention to what they’re saying here.”
Hudson said he will need the training one day himself and realizes the process can be overwhelming.
“There are a lot of decisions you need to make and a lot of figures and facts that you haven’t made yet, so open your eyes to those things,” he added. “Make sure as you make those decisions and end one journey and start the next, that you make the best decisions for you.”
“Turn up that appreciation for your retirement,” he concluded.
| Date Taken: | 06.02.2015 |
| Date Posted: | 06.02.2015 15:57 |
| Story ID: | 165235 |
| Location: | FORT MCCOY, WISCONSIN, US |
| Web Views: | 206 |
| Downloads: | 0 |
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