Abstract
This qualitative study explores the financial perspectives of federal employees who retired within the past five years, with a focus on the factors influencing their retirement
decisions, financial preparedness, and the role of federal retirement benefits. Using a
phenomenological approach, in-depth interviews were conducted with recent retirees to
examine the key elements that influenced their timing of retirement, the adequacy of their
retirement benefits, including the Federal Employee Retirement System (FERS), the
Thrift Savings Plan (TSP), and pension options, and any financial challenges or barriers
they faced during the decision-making process. The study also investigates retirees'
financial adjustments post-retirement and their overall satisfaction with their federal
benefits. Findings from this research sheds light on gaps in federal retirement systems
and provides actionable recommendations for policy improvements. Additionally, this
study contributes to a deeper understanding of how federal employees assess their
financial readiness for retirement and the ways in which retirement planning resources
can be enhanced to better prepare future retirees for a financially secure transition. The
results inform both federal retirement policy and the development of financial planning
resources for federal employees.