Tammy Flanagan

Bradenton

Contributor at Government Executive

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Articles

Let’s talk about Social Security

1 week ago | govexec.com | Tammy Flanagan

The 2025 Social Security Trustees Report has not yet been released, however, there are a lot of things that are worth looking at to help federal employees understand the role that Social Security will play in their retirement planning.
A crash course in retirement planning

2 weeks ago | govexec.com | Tammy Flanagan

Skip to Content Insights & Reports Throughout this year of VERA, VSIP, RIF, DSR, and the new one, DRP 1.0 and DRP 2.0, many employees are trying to hurry up and learn what it takes to retire. This is an update to an article I wrote last year that provides tips and resources to transition from employee to annuitant and to catch up on some of the retirement planning that should have, but maybe didn’t, begin when you started your career.
Look before you leap from the TSP

3 weeks ago | govexec.com | Tammy Flanagan

Skip to Content Insights & Reports The TSP has prepared a new fact sheet titled, Information for TSP Participants Leaving Federal Employment that provides useful information for employees who may find themselves facing the end of their federal careers in 2025 under the Deferred Resignation Programs (1.0 and 2.0) along with VERA/VSIP (Voluntary Early Retirement Authority/Voluntary Separation Incentive Program) early retirement offers and for some - a sobering RIF (Reduction in Force) notice,...
Now or Later - Government Executive

4 weeks ago | govexec.com | Tammy Flanagan

Skip to Content Insights & Reports To say that the mood surrounding planning for retirement has taken a stressful turn over these past few months would be an understatement. For many employees, the rules surrounding the notices offering a voluntary and, in some cases, involuntary, premature ending of a federal career have been confusing to say the least.
Too young to retire? What to know about early retirement offers

1 month ago | govexec.com | Tammy Flanagan

Are you one of the many employees being offered early retirement who are still years away from their Minimum Retirement Age (MRA) which is age 57 if you were born in 1970 or later? If so, you may be feeling worried and unsure about whether you should accept the current offer (if there is one) or to wait it out to see what happens next. Many agencies are offering early retirement or a second chance at accepting a “deferred resignation” offer.
Taxes and the TSP

1 month ago | govexec.com | Tammy Flanagan

With so many federal employees facing an unexpected end to their federal careers, it might be a good time to go over some of the tax rules. Paying taxes is necessary, however, paying a tax penalty should be avoided. Learn the rules BEFORE you take a taxable distribution that you might later regret and be aware that there are limits on how much you can save in a tax-favored account.
Federal retirement planning during uncertain times

1 month ago | govexec.com | Tammy Flanagan

Skip to Content Insights & Reports This week I try to address some of the questions that have been raised during these unusual times for federal retirement planning and decision-making. There have been a lot of questions from employees who are retiring with eligibility for MRA+10 retirement as well as some about the basics of the retirement process.
Women, money and retirement

1 month ago | govexec.com | Tammy Flanagan

This column has celebrated Women’s History Month in past years where I’ve highlighted some exceptional women who made contributions to advance retirement benefits and financial security throughout history. For example, in 2022 I wrote 4 Women Who Shaped Modern Retirement, which celebrated notable women in the history of our modern retirement programs.
Need fast cash? A TSP loan may be the answer

2 months ago | govexec.com | Tammy Flanagan

If you are facing early retirement or sudden loss of your federal career, it is a good idea to have a generous cushion of cash to carry you through a job search in the private sector or the wait you may need to endure to receive retirement income. With tens of thousands of other federal workers making a mass exodus from federal service, you won’t be alone, but it doesn’t make this situation any less unsettling.
Anything but boring

2 months ago | govexec.com | Tammy Flanagan

Skip to Content Insights & Reports My husband, who is not a fan of drama, says, “Boring is good.” I’ve been writing this column since January 2006 and during that time, most of the drafts I’ve submitted have been written to help employees understand the fairly mundane steps to take that are needed to prepare for retirement.