Anchorage, AK (PRWEB) November 9, 2010
Federal Employees under the Civil Service Retirement System (CSRS) have a unique benefit called the Voluntary Contributions program. The Voluntary Contributions program allows CSRS employees to contribute after-tax money to a special account. The money earns interest at a rate fixed each year by the Treasury Department.
CSRS employees have the option to buy an annuity with the money, or to transfer the money out of their Voluntary Contributions account. Most choose to transfer the money out.
Many federal employees are particularly interested in how to transfer money from their VCP to a Roth IRA. However, they're having trouble finding accurate and up-to-date information.
The Office of Personnel Management (OPM) has a 20 page PDF on the rules of the Voluntary Contributions program available online. But the latest version of the regulations was published in 1998, and many employees still have questions about how the transfer works with current tax laws.
Many federal employees often turn to their HR department for more information about the Voluntary Contributions program. But many HR departments have little to no experience or education about this unique program.
This leaves many federal employees trying to piece together information they find in articles or online forum posts. And they may or may not have the complete picture.
"I get questions from federal employees across the country about the Voluntary Contributions program. They want help understanding how to transfer their VCP to an IRA, particularly a Roth IRA." said Micah Shilanski.
Micah Shilanski is a CERTIFIED FINANCIAL PLANNER™ who specializes in federal retirement benefits. Shilanski is the founder of Plan-Your-Federal-Retirement.com, a national website to help federal employees understand their retirement benefit from a financial planning perspective.
"This transfer is something I've helped many of my clients with; but I only work with a select group of clients. I wanted to find a way to leverage my expertise to help even more federal employees understand how this transfer works." said Shilanski.
Shilanski has published a first-of-its-kind book, specifically covering the Voluntary Contributions program for CSRS federal employees.
"We wanted to create a resource that would help CSRS understand their choices when it comes to the Voluntary Contributions program; first by understanding the VCP and IRAs, then walking step by step through the entire process of opening a VCP to filling out the transfer paperwork." said Shilanski.
The book is called:
The Best Kept Secret in CSRS:
How You Can Use the CSRS Voluntary Contributions Program to Put Away Money for Retirement
*Understanding the Voluntary Contributions Program (VCP)
*Understanding IRAs and Roth IRAs
*Who, What, When, Where, Why & How of Transferring
*Step-by-Step Guide to Setting Up Your VCP and Transferring it to an IRA
*Appendix A: Sample Forms
*Appendix B: Links to Blank Forms & Other Online Publications
The Best Kept Secret in CSRS is available online, through Plan-Your-Federal-Retirement.com at http://www.Plan-Your-Federal-Retirement.com/csrs-voluntary-contributions.html
http://www.Plan-Your-Federal-Retirement.com provides information to help federal employees understand their retirement benefits from a financial planning perspective.
About Micah Shilanski:
Micah is a CERTIFIED FINANCIAL PLANNER™ who specializes in helping Federal Employees get the most out of their retirement benefits. More information about Micah's experience is available at http://www.Plan-Your-Federal-Retirement.com/financial-planner-for-federal-employees.html.
Plan Your Federal Retirement LLC is an independent and internet-based financial planning firm headquartered in Anchorage, Alaska.
Securities offered through Summit Brokerage Services, Inc., 595 South Federal Hwy, Suite 500, Boca Raton, FL 33432, Member FINRA/SIPC. Plan Your Federal Retirement LLC is not affiliated with Summit Brokerage Services, Inc.