For Your Benefit

Latest Episodes:

ForYourBenefit Farewell Feb 26, 2024

Show notes

February 26, 2024 on ForYourBenefit, our host Bob Leins, CPA® welcomes back our original program guests Tammy Flanagan, NITP Senior Benefits Director, Karen Schaeffer, CFP®, Marc Levine, Esquire, and Tom O’Rourke, Counsel.

This is our final episode. We have enjoyed our weekly conversations for the past 18 years. Thank you to our loyal listeners for tuning in as we discussed topics ranging from benefits to finance to estate planning and everything in between.

Our guests gather today to share their memories, stories, and closing thoughts. Join us as we reminisce about the years of hosting this radio program. We hope you have learned a great deal over the years and encourage you to visit our website to stay in touch with NITP.

For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

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Estate planning without estate planning: How joint ownership and beneficiary designations transfer assets at your death Feb 12, 2024

Show notes

February 12, 2024 on ForYourBenefit, our host Bob Leins, CPA® welcomes Marc Levine, Esquire. We will discuss how your assets pass to your loved ones:

Through joint ownership of land;
Through joint ownership of bank and brokerage accounts;
Through government beneficiary forms (including new rules for the TSP); and
Through non-government beneficiary forms, and how often they may differ from each other.

We will also discuss what we can do when the unexpected and unplanned transfer happens.

For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

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Finance review for the new year Feb 05, 2024

Show notes

February 5, 2024 on ForYourBenefit, our host Bob Leins, CPA® welcomes Brian Kurrus, CFP®. The new year is a great time to review:

Investment allocations and rebalancing needs
Cash flow and budgeting for the new year
Retirement contributions, plans and projections
Insurance coverage, needs and premium changes

For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

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Survivor benefits: Their importance and how to ensure they are in place for your loved ones Jan 29, 2024

Show notes

January 29, 2024 on ForYourBenefit, our host Bob Leins, CPA®, welcomes Bob Braunstein, Federal Benefits Specialist. Have you ever considered how much additional income your loved ones might need if you were suddenly gone? Have you planned their survivor benefits? Today’s program will focus on answering these questions:

What types of Federal survivor benefits would go to your loved ones if you pass away?
How can you be sure the benefits you have planned/elected for your survivors will be enough?
If you have not elected benefits or designated specific beneficiaries, will your survivors be eligible for them anyway?
What survivor benefits must be elected?
Can you make these elections later or must they be in place before you pass away?
Who ensures your survivors receive benefits?
What is your Federal agency’s responsibility?
OPM’s responsibility?
Should survivor benefits be part of your financial plan?
Are these benefits taxable? Which are and which are not?

For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

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Federal Benefits Updates for 2024 Jan 08, 2024

Show notes

January 8, 2024 on ForYourBenefit, our host Bob Leins, CPA® welcomes Herb Casey, Federal Benefits Specialist.

Topics include:

Income

COLA for FERS and CSRS retirees
Salary pay raises & new locality rates

Social Security

Maximum amount of earnings subject to Social Security tax
COLA
Earning limitations

FEHB Insurances

Increased premiums
12 fewer plans

Medicare

Rising premiums for Medicare
Expansion of mental health coverage

Federal Long-Term Care Insurance Program

Increasing premiums

Thrift Savings Plan (TSP)

Contribution limits
Secure 2.0 changes

For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

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529 Plans and other strategies for paying for education Nov 27, 2023

Show notes

November 27, 2023 on ForYourBenefit, host Bob Leins, CPA® welcomes Karen Schaeffer, CFP®, and Kaitlin Schaeffer Yardley, CFP®.

Karen and Kaitlin will talk about:

The new and improved 529 plans
Other strategies for meeting education costs
Educating children about money

For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

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Health Care Directives Oct 30, 2023

Show notes

October 30, 2023 on ForYourBenefit, host Bob Leins, CPA® welcomes Marc Levine, Esquire, to talk about Health Care Directives.

What is a Health Care Directive (and is it different from a Health Care Power of Attorney)?
What should l look for in my Health Care Agent? Why an advocate matters.
What is the difference between my Health Care Directive and a Do Not Resuscitate?
What is MOLST?
Resources for health care decisions.
What else does my health care directive do?
How does my Health Care Directive interact with my Power of Attorney?

For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

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Cash Flow Planning and Debt Payoff Strategies Oct 16, 2023

Show notes

October 16, 2023 on ForYourBenefit, host Bob Leins, CPA® welcomes Brian Kurrus, CFP®. Our guest today will talk about cash flow planning and debt payoff strategies for Federal employees and retirees.

How much of an emergency fund do you need? How should you invest these assets?
Which debt should you pay off first?
What is the impact of higher interest rates on debt in general?
Should you pay down your mortgage before retirement?
What other cash flow changes might you have in retirement?

For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

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Preparing for the “What If’s” in Life Oct 02, 2023

Show notes

October 2, 2023 on ForYourBenefit, host Bob Leins, CPA® and co-host Karen Schaeffer, CFP®, welcome Kay Bransford, Daily Money Manager, Professional Financial Advocate & Fiduciary, MemoryBanc.

We never know what life will bring. Too often spouses, partners, family, and friends are unable to help because they do not have the information they need. If you are unable to manage the day-to-day bill pay and expenses, how will your loved ones:

Pay for the household expenses?
Cover your healthcare needs and know what resources are available to pay for medical expenses?
Manage if you are terminally ill or die and they have no information about your accounts, retirement plans, insurance, loans?

For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

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FEHB and Taxes Sep 25, 2023

Show notes

September 25, 2023 on ForYourBenefit, host Bob Leins, CPA® welcomes Tom O’Rourke, Counsel.

On today’s program, Tom will discuss how Federal employees can use their Federal Employee Health Benefits (FEHB) program as a tax reduction tool. Specifically, how all FEHB premiums and out-of-pocket medical expenses can be paid on a pre-tax basis. Tom will also talk about how a Health Savings Account (HSA) can be used to both reduce current tax liability and be used as a vehicle to accumulate funds to pay future health care costs.

For questions or comments, email us in advance at ForYourBenefit@nitpinc.com

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