It’s a subtle difference but I always heard it presented like it was a federal retirement account but is actually insurance for getting old.
It’s a subtle difference but I always heard it presented like it was a federal retirement account but is actually insurance for getting old.
An aspect of the “survivors and disability” part is for when you die before you can take out your payments but you have disabled children who need support. You can sign away your-never-to-be-used-otherwise-benefits to your disabled children to take care of them.
That’s cool.
Also your spouse may be entitled to a portion of your payout.