FEHB in retirement

[Anonymous]

I am a current fed with 23 years of service and 1 year away from minimum retirement age (I am more like 11-12 years from ACTUAL retirement).

I am in the fortunate position to be deciding between two job offers. One is a private sector job I really want for many reasons (decent salary but a moderate pay cut).

The other is a federal job at a relatively unknown tiny agency. The job would be fine but I’m not super excited about it. Would not be a pay cut. Great benefits. Aside from the pension, it’s comparable to federal benefits.

My main concern is losing my health
Benefits into retirement. I have a 18 year old son with a disability who is unlikely to be able to secure a job with health benefits into adulthood.

If I take the federal job, I can keep my current health benefits, and when I retire I will continue family health benefits. If I take the private sector job, I will not have health benefits through my job when I retire.

In my early 50’s, I don’t have a good sense of what this is worth or how critical it should be to my decision.

[Anonymous]

I’m in your position re: service years and VERA eligibility and I’m sticking around an extra year praying that our agency will offer VERA again next year. If I didn’t think they were worth it, I would have taken the DRP months ago.

[Anonymous]

Anonymous wrote:I’m in your position re: service years and VERA eligibility and I’m sticking around an extra year praying that our agency will offer VERA again next year. If I didn’t think they were worth it, I would have taken the DRP months ago.

Why are they worth it? Do they cover your spouse/family into retirement? Are they less expensive and/or better coverage than Medicare? Can you purchase an Employer health plan when you retire? What is the actual data?

[Anonymous]

Anonymous wrote:I am a current fed with 23 years of service and 1 year away from minimum retirement age (I am more like 11-12 years from ACTUAL retirement).

I am in the fortunate position to be deciding between two job offers. One is a private sector job I really want for many reasons (decent salary but a moderate pay cut).

The other is a federal job at a relatively unknown tiny agency. The job would be fine but I’m not super excited about it. Would not be a pay cut. Great benefits. Aside from the pension, it’s comparable to federal benefits.

My main concern is losing my health
Benefits into retirement. I have a 18 year old son with a disability who is unlikely to be able to secure a job with health benefits into adulthood.

If I take the federal job, I can keep my current health benefits, and when I retire I will continue family health benefits. If I take the private sector job, I will not have health benefits through my job when I retire.

In my early 50’s, I don’t have a good sense of what this is worth or how critical it should be to my decision.

I'd definitely stick around if i were in your shoes. You can cover your son beyond 26 yo w/ your health insurance because of his disability. Making sure your son has coverage is worth gold.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I am a current fed with 23 years of service and 1 year away from minimum retirement age (I am more like 11-12 years from ACTUAL retirement).

I am in the fortunate position to be deciding between two job offers. One is a private sector job I really want for many reasons (decent salary but a moderate pay cut).

The other is a federal job at a relatively unknown tiny agency. The job would be fine but I’m not super excited about it. Would not be a pay cut. Great benefits. Aside from the pension, it’s comparable to federal benefits.

My main concern is losing my health
Benefits into retirement. I have a 18 year old son with a disability who is unlikely to be able to secure a job with health benefits into adulthood.

If I take the federal job, I can keep my current health benefits, and when I retire I will continue family health benefits. If I take the private sector job, I will not have health benefits through my job when I retire.

In my early 50’s, I don’t have a good sense of what this is worth or how critical it should be to my decision.

I'd definitely stick around if i were in your shoes. You can cover your son beyond 26 yo w/ your health insurance because of his disability. Making sure your son has coverage is worth gold.

OP here: to be clear, “sticking around” isn’t an option. It’s a choice between a private sector job and going to another agency with unknown fate and waiting 5 years to be vested there hoping to make it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am a current fed with 23 years of service and 1 year away from minimum retirement age (I am more like 11-12 years from ACTUAL retirement).

I am in the fortunate position to be deciding between two job offers. One is a private sector job I really want for many reasons (decent salary but a moderate pay cut).

The other is a federal job at a relatively unknown tiny agency. The job would be fine but I’m not super excited about it. Would not be a pay cut. Great benefits. Aside from the pension, it’s comparable to federal benefits.

My main concern is losing my health
Benefits into retirement. I have a 18 year old son with a disability who is unlikely to be able to secure a job with health benefits into adulthood.

If I take the federal job, I can keep my current health benefits, and when I retire I will continue family health benefits. If I take the private sector job, I will not have health benefits through my job when I retire.

In my early 50’s, I don’t have a good sense of what this is worth or how critical it should be to my decision.

I'd definitely stick around if i were in your shoes. You can cover your son beyond 26 yo w/ your health insurance because of his disability. Making sure your son has coverage is worth gold.

OP here: to be clear, “sticking around” isn’t an option. It’s a choice between a private sector job and going to another agency with unknown fate and waiting 5 years to be vested there hoping to make it.

Sticking around as a fed. You are already vested

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am a current fed with 23 years of service and 1 year away from minimum retirement age (I am more like 11-12 years from ACTUAL retirement).

I am in the fortunate position to be deciding between two job offers. One is a private sector job I really want for many reasons (decent salary but a moderate pay cut).

The other is a federal job at a relatively unknown tiny agency. The job would be fine but I’m not super excited about it. Would not be a pay cut. Great benefits. Aside from the pension, it’s comparable to federal benefits.

My main concern is losing my health
Benefits into retirement. I have a 18 year old son with a disability who is unlikely to be able to secure a job with health benefits into adulthood.

If I take the federal job, I can keep my current health benefits, and when I retire I will continue family health benefits. If I take the private sector job, I will not have health benefits through my job when I retire.

In my early 50’s, I don’t have a good sense of what this is worth or how critical it should be to my decision.

I'd definitely stick around if i were in your shoes. You can cover your son beyond 26 yo w/ your health insurance because of his disability. Making sure your son has coverage is worth gold.

OP here: to be clear, “sticking around” isn’t an option. It’s a choice between a private sector job and going to another agency with unknown fate and waiting 5 years to be vested there hoping to make it.

Sticking around as a fed. You are already vested

Not already vested.

[Anonymous]

Pretty sure if you are a Fed and in the fed health plan, you can take that into retirement as long as you are in a Fed health plan for five years before retirement. I think some VERAs waived the five year requirement.

[Anonymous]

Why aren't you vested in FEHB? Did not use it until recently? 23 years of service but not last 5 years?

[Anonymous]

I am not understanding OP’s situation. I don’t understand why OP thinks she’s not vested.

[Anonymous]

Ask a financial planner to help you calculate the value of FEHB in retirement.

You do not have to work 5 years at a specific agency to vest. You're vested for a federal pension already. The question is how critical it is for you to be able to carry FEHB into retirement as well.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am a current fed with 23 years of service and 1 year away from minimum retirement age (I am more like 11-12 years from ACTUAL retirement).

I am in the fortunate position to be deciding between two job offers. One is a private sector job I really want for many reasons (decent salary but a moderate pay cut).

The other is a federal job at a relatively unknown tiny agency. The job would be fine but I’m not super excited about it. Would not be a pay cut. Great benefits. Aside from the pension, it’s comparable to federal benefits.

My main concern is losing my health
Benefits into retirement. I have a 18 year old son with a disability who is unlikely to be able to secure a job with health benefits into adulthood.

If I take the federal job, I can keep my current health benefits, and when I retire I will continue family health benefits. If I take the private sector job, I will not have health benefits through my job when I retire.

In my early 50’s, I don’t have a good sense of what this is worth or how critical it should be to my decision.

I'd definitely stick around if i were in your shoes. You can cover your son beyond 26 yo w/ your health insurance because of his disability. Making sure your son has coverage is worth gold.

OP here: to be clear, “sticking around” isn’t an option. It’s a choice between a private sector job and going to another agency with unknown fate and waiting 5 years to be vested there hoping to make it.

Why can't you stay at the current job?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am a current fed with 23 years of service and 1 year away from minimum retirement age (I am more like 11-12 years from ACTUAL retirement).

I am in the fortunate position to be deciding between two job offers. One is a private sector job I really want for many reasons (decent salary but a moderate pay cut).

The other is a federal job at a relatively unknown tiny agency. The job would be fine but I’m not super excited about it. Would not be a pay cut. Great benefits. Aside from the pension, it’s comparable to federal benefits.

My main concern is losing my health
Benefits into retirement. I have a 18 year old son with a disability who is unlikely to be able to secure a job with health benefits into adulthood.

If I take the federal job, I can keep my current health benefits, and when I retire I will continue family health benefits. If I take the private sector job, I will not have health benefits through my job when I retire.

In my early 50’s, I don’t have a good sense of what this is worth or how critical it should be to my decision.

I'd definitely stick around if i were in your shoes. You can cover your son beyond 26 yo w/ your health insurance because of his disability. Making sure your son has coverage is worth gold.

OP here: to be clear, “sticking around” isn’t an option. It’s a choice between a private sector job and going to another agency with unknown fate and waiting 5 years to be vested there hoping to make it.

Why can't you stay at the current job?

Yeah, something key is missing here. Why is the current job not an option and have you only recently enrolled in FEHB?

[Anonymous]

it sounds like OP may have an offer at something like the federal reserve, which uses FEHB but a new hire would have to work for five years to be eligible for retirement.

however, we are missing info. did you take the fork, and now are looking at having to shift before the fork runs out? is your position being eliminated or moved? at 56 with 23 years of service, you're eligible for discontinued service retirement, which would allow you to continue FEHB into retirement for you and your family. we need to understand why you can't continue in your current position to fully advise you.

i'd probably still elect for the federal job just because another federal position could open up that would allow you to retire sooner than 5 years. being able to continue health care for a disabled child past 26 is a huge benefit.