Retirement Concerns for Baby-Boomers

U.S. federal government workers and postal employees retirement benefits are probably some of the best among American workers, but as hundreds of thousands of baby-boomers near the age of retirement, many who have checked the numbers are often surprised to discover the sharp reduction in income and large expenses projected for their retirement years.

Retirement is on the rise with the aging of federal civil service workers, and according to recent government statistics, over half of supervisory and 40 percent of non-supervisory full-time federal employees will be eligible to retire by the end of 2010.

A leading provider of financial planning software for federal workers, Decision Support Software, has released its 2007 edition of the CSRS and FERS Benefits Calculator and Retirement Planner software to help these employees calculate and determine the best actions to take to enable them an affordable retirement.

"Federal employees often assume their financial security during retirement is rock solid," said John Talbot of Decision Support Software. "When federal and postal employees actually perform the retirement and benefits calculations, they discover reductions in income sources and unexpected expenses that occur in their retirement years. These numbers can be surprising. Pre-retirement planning is key to making sure federal employees can enjoy a secure financial future," adds Talbot, who is also a retired federal employee.

A federal workers retirement package includes a complex array of benefits, including a 401k-like savings plan; a pension annuity; a social security benefit (in some instances); life, health, and long-term care insurance options; survivor benefits; and other perks.

"These complexities often make it challenging for many federal employees to get a true financial picture of their retirement years," says Talbot.

"Tens of thousands of federal employees have used the calculator to perform quick and easy -- but thorough -- calculations and retirement years projections that are presented in a personalized 40-page analysis report filled with helpful spreadsheets and color graphs," explains Talbot. "The new retirement planning module this year offers even more advanced features to help federal employees perform an analysis of all the factors and timing that affect retirement benefits."

Both the CSRS and FERS Benefits Calculator and Retirement Planner 2007 are available at reduced pricing through January 31, 2007, in a CD-ROM or downloadable format at http://www.FedRetireSoftware.com

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