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Đang chơi bàiGet the basics on retirement planning and pension benefits, such as how Social Security works, retiring from the civil service, and managing a private pension.

Đang chơi bài

Infographic showing the ways people save for retirement in the U.S.
  • In the United States, people live an average of 20 years after retirement. The three most common options to save for retirement are:

    1. Retirement Plans offered by an employer
    2. Savings and Investments
    3. Social Security

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. Learn more at .

Đang chơi bài . 

How Do Benefits Work and How Can I Qualify?

While you work, you pay Social Security taxes. This tax money goes into a trust fund that pays benefits to:

  • Đang chơi bàiThose who are currently retired

  • Đang chơi bàiTo people with disabilities

  • Đang chơi bàiTo the surviving spouses and children of workers who have died

Each year you work, you’ll get credits to help you become eligible for benefits when it’s time for you to retire. Find all the benefits .

There are four main types of benefits that the SSA offers:

How to Open a “my Social Security” Account

Đang chơi bàiIf you receive or will receive Social Security benefits, you may want to open a . This online account is a service from the SSA that allows you to keep track of and manage your SSA benefits. You can also make changes to your Social Security record.

How to Find More Help

Đang chơi bàiIf you have specific questions about your Social Security benefits, you can:

  • Đang chơi bàiReview the .

  • .


  • Get  if you're experiencing a problem with your pension plan.

  • Find out whether your .

  • For questions or complaints about your plan, contact your human resources office. Or contact the  near you.

Federal Insurance for Private Pensions

Đang chơi bàiIf your company runs into financial problems, you're likely to still get your pension.

The  (PBGC):

  • Insures most These are plans that typically pay a certain amount each month after you retire.

  • Covers most Those are defined-benefit pensions that allow you to take a lump-sum distribution.

  • Does not cover government and military pensions, 401k plans, IRAs, and certain others.

Is Your Pension Insured?

  • Search PBGC's database of .

  • If your plan is insured and it ends without enough money to pay all benefits, PBGC steps in. PBGC will pay you the money you’re owed, up to .

  • To learn more about PBGC-insured pensions, view these .

Find an Unclaimed Pension

More than 38 million people in the U.S. haven’t claimed pension benefits they have earned. Find out if you, or someone you know, is .


Federal Employee Retirement Planning and Management

Đang chơi bàiOPM has information to help you:

  • Đang chơi bàiFind answers to

Thrift Savings Plan for Current Employees

As a current federal employee, you can contribute to the . The TSP offers the same types of savings and tax benefits as a 401(k) plan.

Retirement Credit for Military Service

Đang chơi bàiMilitary service does not automatically count toward civil service retirement. To , you must pay a deposit.

Federal Taxes on Government Pensions

Your pension or annuity payment may be taxable. Find out with the

Survivors of Federal Employees and Retirees

If you’re the survivor of a federal employee or retiree, you may qualify for . Visit the OPM website to .

and . 

  • If you have a spouse or partner, will they retire when you do?

  • Đang chơi bàiWhere do you plan to live when you retire? Will you downsize, rent, or own your home?

  • Đang chơi bàiDo you expect to work part-time?

  • Will you have the same medical insurance you had while working? Will your insurance coverage change?

  • Do you want to travel or pursue a costly, new hobby?

  • Tools to Help You Prepare for Retirement

    To begin planning for your retirement:

    • Đang chơi bàiGet tips for building your retirement savings in the Department of Labor’s (DOL) .  

    • Đang chơi bàiUse a to find out the best age to claim your Social Security benefits. 

    • Compare the pros and cons of receiving.

    • Đang chơi bàiSocial Security pays benefits that are generally equal to about 40 percent of your pre-retirement earnings. The Social Security Administration helps you .

    • Đang chơi bàiLearn from how you can boost your retirement savings.

    • If you have a financial advisor, talk to them about your plans.

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    Đang chơi bàiLast Updated: September 23, 2020