For Your Benefit

March 15, 2021 on ForYourBenefit, host Bob Leins, CPA® welcomes Kari Utz-Wolsky, Nutrition and Conditioning Specialist, CFT, SPN, SSC (ISSA).

Feeling stressed and anxious?  Learn how a detox can improve your mental health too.

Do you need a digital detox too?

For questions or comments, email us in advance at [email protected]

March 8, 2021 on ForYourBenefit, host Bob Leins, CPA® welcomes Karen Schaeffer, CFP®.

Topics include:

Strategies for coping with reduced income

Cautions about the Cares Act

TSP missteps

Making good decisions while stressed

Embracing the pause

For questions or comments, email us in advance at [email protected]

March 1, 2021 on ForYourBenefit, host Bob Leins, CPA® welcomes Stephanie Baker, Senior Vice President, Member Services and Stacy Outlaw, Senior Vice President, Marketing at WAEPA.

As the interview will take place on the first day of Women’s History Month, Stephanie and Stacy will discuss how women are consistently under-covered by a life insurance policy compared to men. Although women make up 47% of the workforce, nearly 40% of adult women have no life insurance.

Among those who are insured, they only carry about a quarter of the coverage necessary for their needs. This coverage gap also extends to the amount of coverage an individual has, with many Civilian Feds not having enough life insurance coverage as part of their plan. These WAEPA leaders will also discuss some of the inequities and misconceptions found in life insurance and estate planning and highlight the importance of women seeking out their own policy.

For questions or comments, email us in advance at [email protected]

February 22, 2021 on ForYourBenefit, host Bob Leins, CPA® welcomes Marc Levine, Esquire, Handler & Levine, LLC.

Using Powers of Attorney

What Kinds of Powers Do You Need?

Who Do You Pick? – Why Is That Not Obvious

When Can Someone Use The POA?

Health Care Directives – Getting Information

Making Sure People Can Get the Information They Need

Equipping Your Advocate – What the Directive Needs to Include

Revocable Trusts

Making Sure It is Set Up to Work While You Are Alive

For questions or comments, email us in advance at [email protected]

February 15, 2021 on ForYourBenefit, host Bob Leins, CPA® welcomes Josh Huder, Ph.D., to discuss the 117th Congress.  Josh is a Senior Fellow at The Government Affairs Institute at Georgetown University, a non-profit organization dedicated to educating Federal employees about Congress and its operation.

What can we expect from an evenly divided Congress?

How and when will Congress pass COVID relief?

Should we expect a normal budget process with unified Democratic control?

For questions or comments, email us in advance at [email protected]

February 8, 2021 on ForYourBenefit, host Bob Leins, CPA® welcomes Herb Casey, Federal Benefits Specialist, to talk about how you can prepare for transitioning to life after your Federal career.

Retirement readiness assessment:

What will be your focus?

What is your attitude towards retirement?

How will you take care of your health and well-being?

Where will you live?

What community activities will you be involved with?

What social relationships will you have?

How will you spend your leisure time?

How knowledgeable are you of your retirement benefits as a Federal employee?

For questions or comments, email us in advance at [email protected]

February 1, 2021 on ForYourBenefit, host Bob Leins, CPA® welcomes Tom O’Rourke.

It’s the beginning of tax season. Today’s program will focus on updates for this year and more.

Is the 2020 Stimulus payment taxable?

How much did 2020 Income Tax Rates increase over the 2019 rates?

How is my 2020 Federal tax bracket determined and what does that mean to me?

What are some of the tax savings opportunities offered by my Federal benefits package?

Are there any tax savings opportunities that will be paid in 2021 that will impact my 2020 tax return?

What are some of IRS’s audit “Red Flags”?

What are some of President Biden’s Income tax proposals of general interest?

January 25, 2021 on ForYourBenefit, host Bob Leins, CPA® welcomes Bob Braunstein, Federal Benefits Specialist.

New health, dental and vision plans

A major new TSP feature

Increased pay for employees and retirees

Temporary AL Carryover Increase for 2021

Extending Emergency Paid Sick Leave (COVID-19)

And more

For questions or comments, email us in advance at [email protected]

January 25, 2021 on ForYourBenefit, host Bob Leins, CPA® welcomes Bob Braunstein, Federal Benefits Specialist.

New health, dental and vision plans

A major new TSP feature

Increased pay for employees and retirees

Temporary AL Carryover Increase for 2021

Extending Emergency Paid Sick Leave (COVID-19)

And more

For questions or comments, email us in advance at [email protected]

January 18, 2021 on ForYourBenefit, host Bob Leins, CPA® welcomes Tammy Flanagan, Senior Benefits Director at NITP, Inc. to talk about the changes to Thrift Savings Plan for 2021 and the Voluntary Contributions Program (VCP).

Thrift Savings Plan

The Big Change – reaching the elective deferral limit before the end of the year but continue to save, contributions will automatically continue toward the catch-up limit for those age 50 or older in 2021, even if you turn 50 by the end of the CY.

For 2021, elective deferral limit remains unchanged at $19,500 and catch-up contributions remain at $6,500.

What about contributions spilling over toward the catchup limit?

Voluntary Contributions Program

VCP available only to CSRS and CSRS-Offset employees. It allows such employees to contribute funds that can equal up to 10 percent of the total basic pay they have earned in Federal service toward their own retirement.

CSRS employees who want to participate in this program must establish an account by completing an application to make voluntary contributions (no later than while their retirement application is being processed by OPM).

Did you know that you can contribute up to 10% of your lifetime salary to a Roth IRA? Learn about the best kept secret of the Civil Service Retirement System, the Voluntary Contributions Program.

Steps for putting the monies into other retirement investment vehicles, such as traditional and Roth IRAs.

The VCP is a way to enhance your retirement income. In OPM’s brochure “Retirement Facts 10,” the Civil Service Retirement System offers this explanation: “At retirement, each $100 in your voluntary contributions account (including interest earned) will provide an annual annuity of $7 a year, plus 20 cents for each full year you are over age 55 at the time you retire.” However, it is also possible to withdraw all voluntary contributions at any time before receiving this annuity.

For questions or comments, email us in advance at [email protected]