FORT WORTH, Texas--(BUSINESS WIRE)--Several federal agencies are offering early retirements and buyouts, and with shrinking budgets the trend may increase. First Command Financial Services, Inc. is offering an insightful overview of these developments in the Fall 2014 issue of Journey, the online magazine for First Command clients.
Titled “Understanding the Ins and Outs of an Early Federal Retirement,” the story explores the options being offered to some federal workers through the Voluntary Early Retirement Authority (VERA). VERA allows federal agencies to temporarily lower retirement age and service requirements so that a higher number of employees are eligible for retirement. This typically happens during a large restructuring or reorganization, or, as the current case is, due to downsizing.
Early retirement means an early, immediate annuity, perhaps years before an employee would normally be eligible. Both CSRS and FERS employees are eligible. The annuities for the two retirement systems would be affected differently. To learn more, check out this story – and the entire Fall issue of Journey – at http://fcjourney.com/.
About First Command
First Command Financial Services and its subsidiaries, including First Command Bank and First Command Financial Planning, assist American families in their efforts to build wealth, reduce debt and pursue their lifetime financial goals and dreams—focusing on consumer behavior as the first and most powerful determinant of results. Through knowledgeable advice and coaching of the financial behaviors conducive to success, First Command Financial Advisors have built trustworthy, lasting relationships with hundreds of thousands of client families since 1958.
First Command Financial Services, Inc., is the parent of First Command Financial Planning, Inc. (Member SIPC, FINRA), First Command Insurance Services, Inc. and First Command Bank. Financial planning services and investment products, including securities, are offered by First Command Financial Planning, Inc. Insurance products and services are offered by First Command Insurance Services, Inc., in all states except Montana, where as required by law, insurance products and services are offered by First Command Financial Services, Inc. (a separate Montana domestic corporation). Banking products and services are offered by First Command Bank. In certain states, as required by law, First Command Insurance Services, Inc. does business as a separate domestic corporation. Securities products are not FDIC insured, have no bank guarantee and may lose value. A financial plan, by itself, cannot assure that retirement or other financial goals will be met.