Here is how the SRS is computed for a retiree whose MRA is age 56 and who retires under FERS with 30 years of civilian service and an estimated age 62 Social Security benefit of $1200 a month. 1  The FERS service is divided by 40. 2  The age 62 Social Security benefit is multiplied by the fraction derived above.
The IRS allows you to combine money in a SEP IRA with money in a 401(k) plan, either by moving the SEP IRA money to the 401(k) or the 401(k) money to the SEP IRA.
So, you can have a 401k and an IRA at the same time provided you meet the requirements of the particular type of IRA you want. For typical middle-income 401k participants, the 401k-Roth IRA combination is likely the most sensible strategy for several reasons: 1  Roth IRAâs are less retrictive than traditional IRA.o, you can have a 401k and an IRA at the same time provided you meet the requirements of the particular type of IRA you want. For typical middle-income 401k participants, the 401k-Roth IRA combination is likely the most sensible strategy for several reasons: 1  Roth IRAâs are less retrictive than traditional IRA.