Retirement Planning Services for Federal Government Employees in Puerto Rico

Understand the complexities and benefits of the FERS and the CSRS plans from the top financial advisors for federal employees in Puerto Rico. Get expert guidance on dynamic investment and savings options for your retirement.

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Unlock Promising Possibilities in Retirement with Effective Financial Planning

PSR Assurance offers top-notch retirement and financial planning services for federal employees.

We help you maximize your savings for a confident retirement. Learn about the different investment options within the Federal Employee Retirement System and the Civil Service Retirement System plans.

Understand the benefits and differences of the Thrift Savings Plan, Federal Employees Health Benefits, TSP Distribution, Rollover, and the Federal Employees’ Group Life Insurance programs.

Consult with the best financial advisors for federal employees in Puerto Rico to determine the ideal savings and investment plans and achieve financial freedom during retirement.

Simplify your federal employment journey with our expert guidance!

Retirement & Financial Planning Services in Puerto Rico

Simplify your federal employment journey with our expert guidance! Request a free consultation with us.

Thrift Savings Plan (TSP)

Learn about the rates of return and contribution limits of the Thrift Savings Plan. Find out the best age to withdraw the TSP funds with our constant assistance.

TSP Distribution

Check out the TSP distribution options and distribution rules. Select between the partial, total, annuity, and installment based on your retirement requirements.

Federal Employees’ Group Life Insurance Program (FEGLI)

Get a thorough understanding of the Federal Employees Group Life Insurance and the different options within the program. Find out how to appoint a FEGLI beneficiary for maximum benefits.

Office of Personnel Management (OPM)

Determine the responsibilities of the Office of Personnel Management for federal government employees and navigate through their health insurance plans for a better future.

Department of Veterans Affairs (VA)

Find out the disability and healthcare benefits for federal Department of Veterans Affairs employees. Connect with us for expert compensation guidance.

Rollover

Explore the differences and benefits of TSP Rollover between ROTH IRA vs. Traditional IRA. Maximize your inheritance and navigate how to minimize taxes with the rollover options.

Experienced Retirement Advice for Future Financial Freedom

Get in touch with the best federal retirement consultant in Puerto Rico from PSR Assurance and navigate the latest plans, updates, and benefits of incredible investment options. Our experts guide federal employees to strengthen their financial planning and secure the future with ideal savings strategies. We cover over 20 US states and serve more than 10,000 federal employees.

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Frequently Asked Questions

Follow these tips to find the best financial advisor in Puerto Rico – 

  • Visit the Chartered Federal Employee Benefits Consultant (ChFEBC) website to connect with a registered financial advisor for your retirement planning. 
  • Check out financial advisor comparison websites for a wide range of options based on your requirements.
  • Check if the financial planner has a ChFEBC certification. 
  • Share the retirement goals and service requirements on a financial planning network to connect with several financial advisors.
  • Get recommendations from people you know. 
  • Visit financial planning services websites individually to understand their scope of services.

Navigate through the profiles of financial planners near you on LinkedIn.

There is one noteworthy difference between these two types of TSP –

  1. Traditional TSP – The taxes are deducted during the withdrawal of the fund with no extra tax deduction.
  2. ROTH TSP – The taxes are deducted immediately when the account holder allocates a fund into the account. Therefore, you do not have to worry about additional tax exemptions during the time of withdrawal.

The best option is to rollover your TSP accounts (both ROTH and traditional) into an IRA account once you separate from the federal employer. This helps to reduce the income tax deductions significantly. Moreover, rolling over a traditional TSP account into an IRA account is the most beneficial as there are no tax deductions for conversions of these types of retirement savings accounts.

The best age for federal employees to claim the full benefits of the Social Security Benefits is 67 provided they are born in 1960 or later. However, the funds multiply significantly if you wait until the age of 70 to withdraw the benefits of this plan. Nevertheless, there are no additional bonuses once you are cross the age of 70.

Other than this, 62 years is the earliest age for federal employees to access their Social Security Benefits.

Claiming the benefits earlier than your registered retirement age can deduct the amount significantly.

Talk to a financial advisor for federal employees from PSR Assurance in Puerto Rico and determine the best time to get your Social Security Benefits. 

It is not mandatory to name a beneficiary for your retirement account. However, it is highly beneficial if you have a beneficiary. This saves time during fund transfer to a beneficiary’s account if the principal account owner passes away. In case there are no appointed beneficiaries, the fund transfer is considerably delayed. 

Additionally, on a default basis, the funds of the retirement accounts are passed on to the spouse of the deceased if there are no named beneficiaries. 

The individual and lifecycle funds are two types of investment options within the Thrift Savings Plan.

Let us explore the sub-funds within each broad category –

  1. Lifecycle funds – Popularly known as L funds, this is a cumulative professional portfolio that encompasses all the types of funds within the individual fund-type bracket.
  2. Individual funds – There are 5 different types of individual TSP funds. These are –
  • Thrift Savings Plan C Fund – Common Stock Index S&P500 Companies investment
  • Thrift Savings Plan G Fund – Government Securities and Investment
  • Thrift Savings Plan I Fund – International Stock Index Investment
  • Thrift Savings Plan F Fund – US Bond Market investment
  • Thrift Savings Plan S Fund – Stock Market Index investment

Based on the rate of interest in 2024, it is ideal to invest in the TSP C fund followed by the F and G funds for maximum returns. 

Federal employees residing in Puerto Rico can get up to 90% tax reduction due to the lenient tax incentives in the state. 

Employees working in certain federal agencies and residing in Puerto Rico come under the bracket of special income tax withholding. This applies to executive agencies, Postal services, and military services. 

Additionally, income tax withholding is applicable for federal employees whose official workplace is Puerto Rico regardless of their residence. 

US Armed Forces service members distributed throughout the Army, Airforce, Navy, Marine, or Coast Guard will also be entitled to income tax withholding provided they are residents of Puerto Rico regardless of their work station. 

If federal employees choose to withdraw their TSP account funds before retirement then they have to pay a high tax amount.

The reason is that each withdrawal from the TSP account before retirement is considered as an income. Therefore, the deductions are considered as income tax consequently resulting in high taxable amounts.

59 and a half years of age is the eligibility criteria for withdrawing the TSP account balance.

Furthermore, you can avoid the income tax portion on withdrawal if you rollover the TSP account into an IRA account. Get in touch with PSR Assurance to get personalized strategies and the best financial services for federal employees in Puerto Rico.

TSP annuities and installments are two withdrawal options for federal employees.

Based on comparison results, installments are a more flexible option to get monthly payments. Account holders have the liberty to start and stop the installment option at their own discretion. Moreover, account holders can change the payment amount several times in a fiscal year. However, with annuities, it is an irrevocable decision where the account holder can choose to divide their TSP funds completely or partially. Purchasing annuities means getting a lifetime of incentives each month. With partial annuities, a portion of the Thrift Savings Plan funds remains in the TSP accounts while another portion is distributed for monthly payments. Nevertheless, for installments, if the TSP account balance gets over, the account holder will stop receiving the monthly installment payments as well.

Connect with the best financial planning advisors for federal employees in Puerto Rico to determine the ideal TSP option for you.