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Thread: House Panel Backs Major Military Retirement Overhaul

  1. #51
    Senior Member Bos Mutus's Avatar
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    Quote Originally Posted by INGUARD View Post
    Good to know. I do not know how much of these programs will costs but sounds like I wont take it as well. You didn't take tricare for life? Then what medical insurance are you using?
    Tricare for Life is for Medicare eligible retirees (Age 65+)

    When you retire, you have the option of Tricare Standard for Free. Or Tricare Prime, which is around $38 per month for the family plan, IIRC.

    I took Tricare Prime and it has been well worth it.
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  2. #52
    Senior Member TJMAC77SP's Avatar
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    Quote Originally Posted by Bos Mutus View Post
    Tricare for Life is for Medicare eligible retirees (Age 65+)

    When you retire, you have the option of Tricare Standard for Free. Or Tricare Prime, which is around $38 per month for the family plan, IIRC.

    I took Tricare Prime and it has been well worth it.
    One caution though. Where I live (hours away from the nearest military base) there aren't a lot of doctors who take Prime but many that take Standard. Verify availability of doctors who accept Prime before choosing. I use Standard with a Tricare supplement. Works fine with very little out of pocket costs.
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  3. #53
    Banned sandsjames's Avatar
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    Quote Originally Posted by INGUARD View Post
    Good to know. I do not know how much of these programs will costs but sounds like I wont take it as well. You didn't take tricare for life? Then what medical insurance are you using?
    Tricare is the one thing I do have. I live close enough to a base so it's Tricare Prime. It's about $45 a month for the family and our co-pays are between $12 and $30 which is the most affordable thing you're gonna find. The downfall with Prime is that I still have to see an on-base doctor in order to get referred downtown. You can avoid this by going with other Tricare programs but they are more expensive.

  4. #54
    Senior Member CYBERFX1024's Avatar
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    Quote Originally Posted by sandsjames View Post
    I'm forced (by choosing to work a GS job) to pay out over 4% of my pay each month for the Federal Retirement plan. I find it to be an absolute joke that there is a MANDATORY retirement plan that I have to pay that much into.
    The government is waging their bets that I will die before retirement age and they will get to keep the money.
    That's what one of my co-workers says as well. He does not like that he has to contribute his money to tsp at all, so he only contributes the 4% required to get the 4% matching back from the agency and the other 1% they are required.

    If you have to contribute then I would make sure to make that money work for you instead of leaving it in the G fund. Put it in the C,S, or I fund and make it pay you. The C fund last year did 12% returns, the S fund died 10%, and the I Fund was negative 1%. But I do believe the I fund will be the big one this year performance wise.

  5. #55
    Banned sandsjames's Avatar
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    Quote Originally Posted by CYBERFX1024 View Post
    That's what one of my co-workers says as well. He does not like that he has to contribute his money to tsp at all, so he only contributes the 4% required to get the 4% matching back from the agency and the other 1% they are required.

    If you have to contribute then I would make sure to make that money work for you instead of leaving it in the G fund. Put it in the C,S, or I fund and make it pay you. The C fund last year did 12% returns, the S fund died 10%, and the I Fund was negative 1%. But I do believe the I fund will be the big one this year performance wise.
    I have no idea where my money goes. It's not in TSP. I opted out within the first however many days I had to opt out, and received the check back for whatever had been put into that. I stopped that immediately. FERS (Federal employee retirement system) is completely separate from TSP. FERS just goes wherever it goes, I guess. Don't pay much attention.

  6. #56
    Senior Member CYBERFX1024's Avatar
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    Quote Originally Posted by sandsjames View Post
    I have no idea where my money goes. It's not in TSP. I opted out within the first however many days I had to opt out, and received the check back for whatever had been put into that. I stopped that immediately. FERS (Federal employee retirement system) is completely separate from TSP. FERS just goes wherever it goes, I guess. Don't pay much attention.
    I understand that FERS is different. But if they are paying that 4% then it is going to TSP. I say this because FERS is completely separate and they don't 4% at all.

  7. #57
    Banned sandsjames's Avatar
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    Quote Originally Posted by CYBERFX1024 View Post
    I understand that FERS is different. But if they are paying that 4% then it is going to TSP. I say this because FERS is completely separate and they don't 4% at all.
    I'm sorry. I'm having a hard time understanding what you're saying. So, just to clarify, are you saying that the 4% FERS deduction I have from my paycheck is going to the TSP?

  8. #58
    Senior Member CYBERFX1024's Avatar
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    Quote Originally Posted by sandsjames View Post
    I'm sorry. I'm having a hard time understanding what you're saying. So, just to clarify, are you saying that the 4% FERS deduction I have from my paycheck is going to the TSP?
    I am looking at my Employee Express LES now and yes FERS is different. Right now I am paying .8 or $21.34 a paycheck to FERS, while the Gov't pays $352.07 a paycheck to FERS. But the TSP matching is set at 4% or $106.69 every paycheck that the Gov't is paying, on top of the 1%/$26.67 TSP Basic that they are paying.

    So you might want to take a look at your LES again to get a better grasp over everything and where your money is going. I am not saying anything bad but I had to school myself on everything to make sure I know where the money is going. But yes I think that you are paying that 4% to the TSP.So if you look at your LES and yes ANYTHING saying TSP Basic or TSP Matching then yes you are paying into it.
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    Last edited by CYBERFX1024; 04-29-2015 at 01:59 PM.

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    Senior Member Rusty Jones's Avatar
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    No, SJ, that's probably not to TSP. You're probably not FERS. If you were hired in 2013, you're FERS-RAE. If you were hired in 2014 or later, you're FERS-FRAE. You have to pay more into it than someone under FERS.
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  10. #60
    Senior Member CYBERFX1024's Avatar
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    Quote Originally Posted by Rusty Jones View Post
    No, SJ, that's probably not to TSP. You're probably not FERS. If you were hired in 2013, you're FERS-RAE. If you were hired in 2014 or later, you're FERS-FRAE. You have to pay more into it than someone under FERS.
    I was hired in 2012 and yes I think it is to TSP.

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