March is Women’s History Month

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March is Women’s History Month, a time to recognize the remarkable contributions of women throughout history.
This year’s theme is “Celebrating Women Who Tell Our Stories,” We’re honored to share a few examples of women who continue to shape our future as they live their stories.
Janet Yellen – is not only one of the most heavily cited female research economists, but as chair of the U.S. Federal Reserve, she holds what many consider to be the most powerful economic-policymaking position in the world.
Margaret Thatcher – was Britain’s prime minister for almost 12 years and the first woman ever to hold that position. To many, she was seen as a revolutionary figure who transformed Britain’s stagnant economy and, together with Presidents Reagan and Bush, helped bring about the end of the Cold War.
Elinor Ostrom – held the first of only two Nobel Memorial Prizes in Economic Sciences ever awarded to a woman. Her work on the formal and informal political institutions that can influence an economy enormously influenced the field.
This Women’s History Month, join us in recognizing the women above and the millions who continue to make history while living their stories.

There’s No Turning Back From Some Retirement Choices

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Certain benefits decisions are irrevocable.

Retirement is a very big life decision, involving financial considerations as well as emotional concerns. But deciding whether and when to retire isn’t the only big choice. Once you’ve concluded it’s time to take the plunge, there are other decisions to make. And some are irrevocable. Let’s look at what you can change and what you can’t turn back from.

Federal Employees Health Benefits Coverage

You are eligible to continue FEHB coverage into retirement if you meet these two requirements:

  • You must be entitled to retire on an immediate annuity (including retirements under Federal Employees Retirement System minimum retirement age+10 provisions).
  • You must have been continuously enrolled or covered as a family member in an FEHB plan for the five years of service immediately before the date the annuity starts, or for the full period of service since your first opportunity to enroll (if less than five years).

You can cancel your coverage after you retire, but you can only get it back under limited circumstances. For example, if you’re continuously covered as a family member on your spouse’s FEHB enrollment, you can resume your own enrollment if your coverage under your spouse’s enrollment ends for any reason. But if you’re not covered under a family member’s FEHB, and you cancel your enrollment, that’s a one-way ticket out of the program. Click HERE to find out more.

 

 

Reducing or Canceling FEGLI after Retirement

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Unless you have assigned your Federal Employees Group Life Insurance coverage, you may reduce or cancel it at any time, including after retirement. However, as a retiree you cannot increase your FEGLI coverage unless you are reemployed by the government.

You may wish to cancel it, for example, because a potential need that you were insuring against no longer exists—for example, your children are now all through college or your home is now paid off—or because you decide to take out insurance through another source that better fits your need, such as a policy that builds cash value, which is not available through FEGLI.

If you cancel your Basic life insurance, you are canceling all your Optional insurance as well. If you elected the 50 percent reduction or no reduction schedule upon retirement for your Basic life insurance, you may cancel this additional coverage at any time. You may also reduce (or cancel) the amount of your Option B insurance, if you have this coverage, or cancel any or all other Optional life insurance coverages you may have. Click HERE to read full article.

Carol Schmidlin Renews Membership with the Financial Services Institute

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FSI Advocates for Main Street Americans’ Access to Objective, Affordable Financial Advice

 Carol Schmidlin of Franklin Planning LLC announced she has renewed membership with the Financial Services Institute (FSI) in Washington, D.C. FSI advocates for Main Street Americans’ access to objective, affordable financial advice, delivered by a growing network of independent financial advisor members. 

“I am proud to renew my membership with FSI, an organization that works hard every day, to protect my clients’ access to quality financial advice,” said Ms. Schmidlin “FSI helps educate elected officials and regulators on what Americans need from financial advisors and how the industry works with clients to secure their financial futures. They also help ensure that I can continue to offer my clients the advice they need.”

“We are very pleased to have Ms. Schmidlin renew their membership,” said FSI President & CEO Dale E. Brown. “Our advocacy is only as effective as our engaged members. And conscientious advisors like Ms. Schmidlin help bring real-life experience to our efforts. We plan to continue to work closely with Ms. Schmidlin as we advocate for independent financial advisors and the hard-working clients they serve.”

Ms. Schmidlin’s practice offers the following:

  • Income Planning
  • Investment Management
  • Social Security Planning
  • Investment Planning for Accumulation Phase & Distribution Phase
  • The Money Cycle and Bucket Planning
  • Health & Long-Term Care Planning
  • Tax Planning
  • Estate Planning
  • Insurance Needs
  • Pension Maximization

Franklin Planning’s mission is to provide the ultimate client experience. As an independent financial advisory firm, we take our role as your fiduciary very seriously. One size does not fit all, and we seek to fully understand your individual needs and goals, and then custom tailor a plan to meet them.

Ms. Schmidlin has been an independent advisor for 25+ years and is affiliated with JW Cole

More information on Franklin Planning can be found at www.franklinplanning.com

About the Financial Services Institute (FSI): The Financial Services Institute (FSI) is the only organization advocating solely on behalf of independent financial advisors and independent financial services firms. Since 2004, through advocacy, education and public awareness, FSI has successfully promoted a more responsible regulatory environment for over 80 independent financial services firm members and their 130,000+ affiliated financial advisors – which comprise over 45% of all producing registered representatives. We effect change through involvement in FINRA governance as well as constructive engagement in the regulatory and legislative processes, working to create a healthier regulatory environment for our members so they can provide affordable, objective advice to hard-working Main Street Americans. For more information, please visit financialservices.org.

 

TSP Performance Disappoints in February: Year-to-Date Returns Still Positive

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After dismal Thrift Savings Plan (TSP) performance in 2022, 2023 started the year off with a bang. TSP performance in January 2023 flipped from what it was in January 2022. All TSP Funds showed a positive return to start off the year.

Looking at the February 2023 returns seems familiar and feels like a return to the inflation-influenced days of 2022.

With the exception of the G Fund, all of the TSP Funds had a negative return in February. Over the past 12 months, all of the TSP Funds, with the exception of the G and L Income Funds, have a negative return. The exceptions are the G Fund with a 12-month return of 3.33%, and the L Income Fund with a 12-month return of 0.74%. Click HERE to read more.