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FederalLeave & Earnings Statement Presented By: 3 F E Foundation for Financial Education www.f3eonline.org | firstname.lastname@example.org | 240-499-0390
How to interpret your statement line by line • What do all the letters stand for? • Locality Pay • GS Pay Scale • Default options for benefits • Service computations date • Breaks in service
Selecting the proper options for benefits • Federal Health Insurance • Active and Retired • Long Term Care • Short and Long Term Disability • FEGLI • TSP options and allocations • SBP and Retirement Planning
Managing your Tax withholdings • Refund vs. owing the IRS • W9 allows for changes in withholding • Estimated additional payments • Choosing number of exemptions • Trying to break even • Saving your tax refund monthly and investing it over the long term
Where does all my money go?? • Maxing your TSP? • Social Security & Medicare • State & Federal Tax With Holdings • Insurance, Insurance, Insurance • TSP Loans
Hidden opportunities within your paycheck • Bi-weekly pay vs. Monthly • Roth vs. Regular TSP • Catch-up • Alternatives to DI, LTC & FEGLI • 20yr pension bump-secrets to social security • Maximizing your tax bracket