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Reply to "Fed Retirement Under FERS"
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[quote=Anonymous][quote=Anonymous]I've been a fed for 10 years and always saved the max in my TSP. I now have 202,000 and received a statement from TSP saying I'll receive $800 a month from my TSP in retirement. I almost puked at that figure. My house will be paid off, but I will need significantly more $. I'm 37, a GS 14, and also save the max in a Roth IRA. Does anyone understand how retirement works under FERS? I'm not counting on SS being around in 2044. thanks![/quote] Yes, that is the amount that you could get monthly from your FERS after retirement, *IF* you were to stop working that job today. As you contribute more over the rest of your career, the amount you get out will increase. You really should visit the retirement calculater at choosetosave.org and let it help you figure out how much to save and how much it will pay out after retirement. It will give you a better idea of how to adjust your savings for retirement.[/quote]
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