Let’s Talk Government Benefits with Sam Zelinka | Ep. 73

• Sam explains that total compensation including benefits is approximately 34% higher than base salary, and these benefits are largely untaxed.

If you're in the private sector and thinking about applying for a government job, you're like, oh, it doesn't pay anything. You need to kind of like figure out like all these other ways you're being paid that aren't in money.

• The FERS annuity is calculated as 1% × years of service × high-3 average salary. Most current federal employees are under FERS rather than the older CSRS system.

If you work for 30 years, you get about 30% of what you were making when you retire.

• The TSP functions like a 401(k) with only five low-cost index funds and an automatic 5% employer match. New hires are auto-enrolled at 5%.

They match up to 5% of your salary. So if you put in five, they'll match five.

• Federal employees who reach minimum retirement age can keep their health insurance in retirement, paying only the employee portion (roughly 25% of premium). Estimated lifetime value ~$500k.

When you retire, you can take it with you if you make it to retirement.

• Sam recommends visiting USAJobs.gov to explore federal opportunities and checking GovernmentWorkerFI.com for detailed benefits guidance.

• https://www.governmentworkerfi.com
• https://www.usajobs.gov