The "best of," part 2

Monday - 7/30/2012, 1:50pm EDT

For Your Benefit

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July 30, 2012 -- Federal employees will not be able to set aside as much tax-sheltered money for their health needs as they can now come the new year.

The new health care law, provisions of which are gradually taking effect through 2014, will reduce the amount feds can set aside in their Flexible Spending Accounts.

Presently feds are allowed to put in $5000 annually per household.

That amount will be reduced to $2500 in 2013.

FSAs were among the topics discussed by Bob Leins and Tammy Flanagan, co hosts of NITP's For Your Benefit, which airs live Monday at 10 a.m. on Federal News Radio.

Leins and Flanagan also touched upon a number of other issues, which have been brought up during recent seminars presented by the National Institute of Transition Planning.

Among them:

  • choosing survivor benefits at retirement;

  • ways employees can make the retirement process go smoother;

  • picking the best possible retirement date;

  • Thrift Savings Plan options after retirement.