Working as a college professor and financial planner myself, I have first-hand experience in how to navigate and maximize retirement benefits in this setting
The most common way for public service workers to save for retirement is their pension and/or 401(k) type plan, such as a Thrift Savings Plan (TSP) for federal
In Texas, various pensions are offered, from ERS, which covers state government employees, to TRS, which covers educators. These pension systems are generally
It depends. There are two critical laws that Texas teachers should know about that can impact whether you will receive Social Security.1
The Windfall
When separating from civil service or retiring, I often get asked what to do with the money in my old Thrift Savings Plan or TSP?
There is no one easy answer
A recent 2020 survey of members of TRS showed that younger active TRS members are less confident that they will have enough money saved for their retirement.1 T
The federal government has a more generous retirement program than most other levels of government and the private sector. You essentially have three components
The Thrift Savings Plan (TSP) is one of the best 401(k) plans out there. It has meager expenses and is straightforward to manage. You are only dealing with
Working in government is a rewarding career since you can serve the public and significantly impact society. But many civil servants want the opportunity to
