The Foreign Service Journal, November 2012

64 NOVEMBER 2012 | THE FOREIGN SERVICE JOURNAL withholdings, and modify financial allotments. Additionally, you can view and print your monthly annuity statements and annual Form 1099-R. If you need assistance using Annuitant Express, contact the Employee Express Help Desk at (888) 353-9450. If you prefer to mail in a written request to update your annuity account, contact the Payroll Customer Support Desk at PayHelp@state. gov or (800) 521-2553 for instructions. Submit Your Annuity Supplement Form Retirees enrolled in the post-1983 Foreign Service Pension System who are under age 62 receive an annuity supplement. That supplement is subject to reduction through an annual earnings test after the individual has reached his or her mini- mum retirement age (between 55 and 57, depending on year of birth). Those retirees must submit a Form DS-5026, “Statement of Entitlement to FSPS Annuity Supplement” to the Department of State each January, or else their annuity supplement will be terminated in February. The form and associated instructions are mailed to all annuitants in the HR/RET annual newsletter. Regrettably, each year dozens of annuitants have their sup- plement cut off due to non-submission of this form. While the payments can be restored following a belated submission, the process diverts staff resources from assisting other annuitants. Report Marital Changes and Survivor Benefits Life events such as post-retirement divorce or marriage, or the death of a spouse or former spouse, are all occasions to change your survivor annuity election by dropping a former spouse or adding a new spouse. In addition, you will likely want to update your beneficiary designations for life insurance, annuity and Thrift Savings Plan contributions. You may also wish to adjust your Federal Employees Health Benefits elec- tion. Delays in reporting marital changes to the Department of State will delay, or in some cases permanently prevent, the benefits adjustment and the associated change in your annu- ity. To avoid this, promptly report any post-retirement marital changes to the HR Service Center. If you have not previously done so, please take time right now to give your next-of-kin a copy of the instructions found in the HR/RET annual newsletter regarding the reporting of deaths of annuitants. It is up to the survivor to immediately report the death and submit documentation to initiate their survivor annuity, receive the federal life insurance payout, and continue their Federal Employees Health Benefits. To do so, the survivor should contact the HR Service Center, which has a team of specialists who guide survivors through the process. Monitor Your Post-Employment Earnings If you have returned to federal employment in a part-time or full-time basis since you retired, you already know that a variety of rules affect how much you can earn. If you ever have questions about those rules, please consult the HR/RET annual newsletter or RNet Internet site. If you do not find the answer there, you may ask the HR Service Center. It is each employee’s responsibility to monitor their earn- ings to ensure they do not exceed the limitations. Toward that end, you may wish to e-mail PayHelp@state.gov to request a “salary/annuity limitation audit” by the Retirement Accounts Division. Review Your Thrift Savings Plan Allocations If you are in the FSPS retirement system, then the Thrift Savings Plan is a key component of your retirement financial security. Since retirement income depends in part on the rates of return of the specific TSP fund or funds in which you invest, from time to time you should review the risk-versus-reward balance in your TSP fund allocations to make sure that it is still appropriate to your specific situation. For more information or to make an interfund transfer to redistribute your balance, please visit the TSP Web site: www.tsp.gov. Document Your Annuity Contributions Because retirees have already paid taxes on that portion of their Foreign Service annuity that reflects their contributions, that amount is not subject to further taxation. After retirement, you received a letter from the Retirement Accounts Division detailing the total amount that you contributed. Be sure to safeguard that document. Regrettably, each year dozens of annuitants have their supplement cut off due to non-submission of Form DS-5026.