However, this question is often asked to explore whether the candidate has long-term goals which cannot be met by the employer. It is also used as a reality check to see if the candidate has realistic goals. Finally, it is also used as a measure of the ambition of the candidate.
SBP Costs (Premiums). The SBP premiums for spouse coverage are: (1) 6.5% of your chosen base amount, or if less, (2) 2.5% of the first $595.00 of your elected base amount (referred to hereafter as the threshold amount), plus 10% of the remaining base amount. The threshold amount was $595.00 as of January 1, 2004.
If youâre a subscriber to FEDweekâs TSP Report, you have; it appeared in an article I recently wrote about contributing as much as you can to the TSP. That article had examples of how much a person would have at retirement using different scenarios. To refresh your memory, Iâve included those scenarios in the next few paragraphs. The assumptions are that we have three new hires that start out making $45,000 per year and receive annual raises of 1%. They work for the federal government for a period of 30 years. One of them contributes the default 3% of their salary; another contributes 5% and the third contributes 10%. They never increase their contribution rate. The growth of their account averages 5% per year (all of the TSPâs basic funds, save the I fund, have beaten that return since their inception). I used the TSP calculator How Much Will My Savings Grow to come up with the figures below. The employee who contributed 3% of their salary had $42,269.98 at the end of 10 years; $115,546.26 at the end of 20 years; and $239,790.53 at the end of 30 years.