Baby-Boomer Federal Employees Alarmed by Reduced Income, Increased Expenses in Retirement Years Find Solutions With New Software
Granite Bay, CA (PRWeb) January 9, 2007 -- Retirement benefits for U.S. federal government and postal employees are likely some of the best available among the American workforce. But as hundreds of thousands of these baby-boomers near retirement, those who have crunched the numbers are often surprised by the sharp reductions in income and hefty expenses projected in their golden years.
Decision Support Software ( http://www.fedretiresoftware.com ), a leading provider of financial planning software for federal employees, has just released its new 2007 edition of the CSRS and FERS Benefits Calculator and Retirement Planner software which helps federal employees make calculations to determine the best actions to take for an affordable retirement.
With an aging U.S. federal government civil service workforce, retirement eligibility is on the rise. According to recent government statistics, more than 50 percent of supervisory and 40 percent of non-supervisory full-time federal employees will be eligible to retire by the end of 2010.
"Federal employees often assume their financial security during retirement is rock solid," says 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," states Talbot, who is a retired federal employee. "These numbers can be surprising. Pre-retirement planning is key to making sure federal employees can enjoy a secure financial future."
The retirement package for federal workers includes a complex array of benefits, including a pension annuity; a 401k-like savings plan; a social security benefit (in some cases); health, life, 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," states 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," Talbot mentions. "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."
The CSRS and FERS Benefits Calculator and Retirement Planner 2007 is available at reduced pricing through January 31, 2007, in a CD-ROM or downloadable format at http://www.FedRetireSoftware.com .
A professional version of the software is also available for federal agencies, federal managers, financial planners, and insurance agents who serve federal employees
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