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Federal Employee Financial Planning: Civil Service Retirement System Part 2 EP4

After our last episode, you should be familiar with the benefit calculation, the survivor benefit decision, and the greatest tax loophole ever created surrounding the Civil Service Retirement System. However, that is not all you need to know on this subject. CSRS is not just a pension program—it is so much more than that. So, in this episode, Michael, Tommy, and John will be discussing the additional benefits to be aware of in regards to the Civil Service Retirement System.

Listen in as they explain how CSRS employees are impacted by Social Security’s WEP and GPO provisions, as well as why these rules are put in place. You will learn how to avoid the WEP provision, how WEP will affect your spouse, and why you shouldn’t let "math" get in the way of a good financial plan.

Listen to the full episode here:

What you will learn:

  • A quick recap of CSRS episode one. (1:19)
  • CSRS is not just a pension program. (5:00)
  • Two rules to be aware of regarding Social Security. (8:40)
  • How CSRS employees are impacted by Social Security’s WEP provisions. (10:15)
  • Why these provisions are put in place. (11:10)
  • How to avoid these provisions. (13:00)
  • How WEP impacts your spouse. (18:40)
  • The nuances you have to know about Social Security. (27:00)

Ideas worth sharing:

“Just say yes to survivor benefits.” - Mason & Associates, LLC

“The Civil Service Retirement System is not just a retirement system. It is a holistic system.”  - Mason & Associates, LLC

“WEP only applies when you have a pension.”  - Mason & Associates, LLC 

Resources from this episode:


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