As a fiduciary financial advisor in Chesterfield, Holland Capital helps Defense Department civilians at or near their FERS minimum retirement age test whether their pension, any FERS supplement and their savings can carry them to 62 if they leave now. Chesterfield clients talk with us by phone and video, and when a sit-down meeting helps, we book one by appointment at the Regus center at Boulders Business Park.
Your MRA is here or close. Thirty years of service, or nearly. A question about the stretch before 62.
Chesterfield County has about 397,000 residents, and close to 18% are 65 or older. Defense Supply Center Richmond is one of the county’s largest employers.
The FERS supplement may be paid to some employees who retire on an immediate unreduced annuity at their minimum retirement age (MRA) with 30 years, or at age 60 with 20 years, until age 62. The real question is whether your pension, any supplement and your savings cover spending until Social Security, and after. A fixed-fee written plan answers it, whether or not you ever hire anyone to manage the TSP. Ask any advisor on this whether a fiduciary duty applies and how they are compensated.
Confirm What Your Estimate Shows
We start with your agency’s retirement estimate and check whether it includes a supplement. Anything unclear goes on a list for your human resources office.
Our FERS retirement planning guide covers the basics.
Mapping the Years Between Now and 62
We set out your income month by month: the pension, the supplement if it is paid and any TSP withdrawals. At 62 the supplement stops, whether or not you start Social Security then, and the plan shows what replaces it.
Virginia generally taxes the pension to the extent it falls within federal adjusted gross income, so state tax sits in every year.
RETIREMENT ENGINEERING™
The Order Matters
Five retirement decisions and why timing matters.
Deciding What the TSP Does Next
The TSP can stay where it is, pay you income or move. Our guide to a TSP rollover to an IRA explains the choices. Our investment management is a later, separate decision, with savings managed to the policy statement your plan produces.
How We Work with Clients in Chesterfield
Holland Capital Management is an independent registered investment adviser and a fiduciary. M. Chad Holland, CFA, CFP® works directly with clients and is responsible for the planning and advice.
Bring your agency retirement estimate, your latest leave and earnings statement, your TSP statement, a Social Security estimate and any records of earlier service.
Your written plan shows, month by month, whether retiring now holds up, at a fixed fee agreed before work begins. Act on it alone, through whoever advises you now, or with us.
The first conversation is free. If there is work worth doing after that, we will define the scope and cost before you decide whether to move forward.
Our offices are in Charlotte, North Carolina and Winter Park, Florida. We work with clients in Chesterfield primarily by video or phone. When an in-person meeting makes sense, we meet by appointment at the Regus center at Boulders Business Park, 7400 Beaufont Springs Drive, Suite 300.
We work with clients throughout Virginia. You can see the other Virginia communities we serve here.
Our what we do page explains how a planning engagement works.
RETIREMENT ENGINEERING™
The Order Matters
Five retirement decisions and why timing matters.
Frequently Asked Questions
Does Everyone at MRA Get the FERS Supplement?
Not everyone does. Eligibility depends on your age and years of service, and the payment stops at 62. Under the earnings test, work income after retiring can reduce it. We check your own estimate before the plan counts on it.
Why Bring a Fiduciary Financial Advisor Into a FERS Decision?
Holland Capital acts as a fiduciary when providing financial planning and investment advice. For a DoD civilian, that means we may recommend keeping the TSP right where it is if that serves your plan.
One fixed fee covers the plan and is set before we begin, and if you later ask us to manage investments, we quote that separate fee to you first.
Can Chesterfield Clients Meet with Us in Person?
Yes, by appointment at Boulders Business Park, 7400 Beaufont Springs Drive, Suite 300, where Regus has a center. The address is in Richmond.
Phone and video calls take care of the bulk of the planning.
Photo: James Shelton32 / Wikimedia Commons / CC BY-SA 3.0, cropped.
