Important Notice

I will leave when I’m fed up with my federal job.

I will retire when I’ve met the age and service requirements to receive my federal retirement benefit.

I will downsize my life and plan my retirement activities within the amount of retirement income I’ve been able to accumulate.

I’m planning to retire when I have enough retirement income to replace at least 70% of my federal salary.

I will retire when I am both financially prepared and mentally ready for this transition, and have retirement goals in place.

I didn't know I needed to make this choice when I retire.

I’ve heard about these options, but don’t know exactly what they mean.

I understand the basic difference between choosing an annuity payable only during my lifetime and one that will be reduced to provide income for someone else.

I understand the full cost and value of my options. If I’m married, I have discussed a possible survivor annuity with my spouse. If I am single, I have considered whether anyone else might be dependent on me financially. If I am divorced, I understand any entitlement that my former spouse has from my retirement.

This is something I really don't understand.

I know the TSP can provide a source of income to supplement my retirement benefit.

I have an idea of the withdrawal options available from the TSP and I have begun to explore them.

I have evaluated the tax, estate planning and financial planning issues to determine the best time and rate for withdrawing TSP funds after my retirement.

I didn't know such records were important in calculating my retirement benefit.

I trust my agency and OPM to gather all the appropriate records.

I know how to access my personnel records and I understand that I can maintain copies of these records, but I’m not really sure what I should keep and for how long.

I have maintained all of the employee copies of the records in my official personnel folder. I understand that if my federal service isn’t properly documented, I may not receive the full retirement benefit that I’ve earned.

I don’t understand the difference between long-term care insurance and disability insurance.

I am pretty sure my health insurance and Medicare will take care of my needs or my family will take care of me.

I purchased a long-term care insurance policy, but I couldn’t tell you how much it is worth, whether it has an inflation adjustment or exactly what it will pay for.

In addition to purchasing and understanding long-term care insurance, I have made a plan for my potential future needs.

I have sufficient assets and/or long-term care insurance so that if I should need personal care in the future, I will be cared for with dignity and with adequate attention to my needs.

What Social Security? It’s already broke and there won’t be any for me to claim.

A bird in the hand is worth two in the bush. I’m going to get the money while the getting is good.

Without applying immediately for my Social Security benefit, I would not be able to afford to retire.

I am in good health and barring an unforeseen illness or accident, I hope to live out my full life expectancy. I have enough income that I don’t need my Social Security retirement benefit to pay my monthly living expenses, so I plan to delay my Social Security application to age 70. (Or, this question doesn't apply to me because I know I haven't paid into Social Security during my career.)

I am entitled to my own as well as a spousal Social Security benefit. I plan to explore strategies that will maximize my Social Security retirement benefits.

I already have health insurance under FEHBP or TRICARE, so I will not need to enroll in Medicare.

I understand I will be eligible for Medicare at age 65 and I know that I will also be able to maintain my current FEHBP or TRICARE enrollment, but I don’t understand how these benefits will work together.

I have some idea of how the various health benefits programs work together, but feel like I should discuss this further with friends and coworkers.

At age 65, I will evaluate all of my insurance options both financially and medically in order to make a decision that will provide me with the most comprehensive medical insurance benefits I can afford.

Do you have to pay taxes on retirement income? I thought once you retired, you no longer had to pay taxes.

I realize some of my retirement income will be taxable, but I have no idea how to compute how much I will have left after taxes.

I know that when I am no longer working, I will no longer have to pay Medicare or Social Security taxes. I also know that a portion of my retirement benefits will be tax-free because I’ve paid into these programs during my career. And I’m aware that each state has different tax rules.

I have full knowledge of the above information, and have begun to make plans to minimize taxes in retirement by evaluating my retirement savings withdrawal options and considering estate planning strategies.

I fear that changes in retirement benefits will mean I won’t have enough income in retirement. As a result, I’m unsure of when I’ll be able to retire.

Once I retire, my benefits will no longer be subject to any changes. So I plan to retire before Congress can make any more changes to the rules governing my benefits.

I know Congress can make changes to my retirement, but I’m not sure if those changes will have any effect on my benefits after I’ve retired.

I understand that my retirement will be computed based on the laws in effect when I retire. I think it’s unlikely there will be many changes that would affect my retirement once it is finalized. But I’m aware that there could be changes to cost-of-living adjustments and health insurance benefits.

I think there is an age when you have to take everything out of the TSP.

There are three basic withdrawal options from the TSP: cash payments, monthly payments and annuities.

After my separation from federal service, I can choose a one-time partial distribution to transfer some of my account balance from the TSP to an Individual Retirement Arrangement. When I take full distribution of my TSP account, I can choose between a cash payment, monthly payments and a life annuity. As long as the total adds up to 100%, I can choose all three options.

I understand everything above and in addition, I can explain the advantages and disadvantages of each withdrawal option. For example, I know the TSP has extremely low administrative expenses and can help simplify my finances in retirement, so I may want to keep some of my money there after I retire.