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Types of Managed IT Services

Managed IT services are not just for IT departments. They also play an important role in the growth of a business. These services can help with proactive monitoring, custom applications, and a pay-as-you-go model. Here are some examples of the different types of managed IT services.

SaaS is a managed IT service

While SaaS is a form of managed IT service, it has its limitations. In addition to varying levels of control and scalability, this model has the potential to increase costs. A common example is when a vendor’s software suddenly becomes EOL, which can leave an organization without access to older data or outdated versions. Furthermore, the use of SaaS often means a greater risk of data breaches.

Fortunately, managed IT services can help minimize these risks and provide round-the-clock support. They can also help prevent any potential issues before they arise. A managed IT service provider also provides the stability needed to keep your system running smoothly and can monitor any problems or security breaches. Furthermore, managed IT service providers have 24/7 availability, which ensures your data is protected and your business remains streamlined.

Another benefit of SaaS is its ease of use. Unlike traditional software, these solutions don’t require extensive training, and most are self-explanatory. However, a managed service can offer additional support and take care of networking and hardware requirements.

MSPs offer proactive monitoring

Proactive monitoring is a crucial component of network management. It keeps systems up to date and prevents system crashes. It requires an ongoing, standardized process to identify problems and improvements. This approach helps organizations avoid tickets and move quickly through issues. It also ensures that technology and software are updated. It can keep a business running smoothly and improve customer service. Proactive monitoring can help your business avoid costly outages and ensure that all systems are running efficiently.

Proactive monitoring is an important part of any IT service, and it is critical that you choose a MSP that provides this level of service. A quality MSP will be able to respond quickly and prevent problems before they become major problems. You should also look for companies that can accommodate multiple time zones and offer round-the-clock service. If you have a global business, proactive monitoring can be a huge benefit.

Proactive monitoring allows MSPs to focus on improving their service instead of having to visit client sites. With this technology, technicians can fix issues from a remote location. This is particularly important for businesses that are located in remote areas.

MSPs can create custom applications

An MSP has the ability to create custom applications for businesses. The process can involve a number of processes. For instance, an MSP will evaluate the customer’s IT needs and recommend a solution. They can also set up applications, train users, and manage security and cross-service integration.

An MSP can also offer its customers customized applications to help them improve their businesses. This type of software can reduce the time and cost of routine IT tasks. Additionally, it can centrally automate rules and streamline processes. It can also run through large data sets and deliver business intelligence that is specific to the client.

Another benefit of MSP software is its ability to manage multiple accounts. Using this software, an MSP can manage multiple organizations as if they were an individual client. The software can track client expenses, including contracts, and it can also track IT assets. It can even import asset details from another network and schedule automatic scans.

MSPs offer a pay-as-you-go model

The pay-as-you-go model of managed IT services is a flexible pricing option for small businesses that have varying IT needs. The basic package will include support for basic IT functions, while clients with more complicated requirements will pay an hourly rate. The MSP can tailor the package to a specific client’s needs, and should be able to clearly specify what will be supported, and what will incur additional fees.

MSPs can save an organization a considerable amount of money in operational expenses. These providers can help companies control their IT costs and free up resources to focus on core business functions. In addition, the services offered by an MSP adhere to a shared service level agreement (SLA), ensuring that services are provided on time and according to the client’s exact requirements. Managed services can improve security and productivity, and minimize downtime.

Choosing an MSP is a complicated process. You have to consider the MSP’s pricing model, policies, procedures, and SLAs. The MSP should be transparent about the amount of services it provides, and be prepared to take ownership of any service issues. In addition, it should provide a service uptime guarantee, and have high security standards. Before choosing an MSP, ask as many questions as possible.

Manage It Tampa Has You Covered

Manage It Tampa has a variety of locations to serve your IT support needs. These include Dunedin, Apollo Beach, Brandon, Palm Harbor, Pinellas Park, Lake Magdalene, and St. Petersburg. Whether you need a single tech, or a full team to solve any IT problem, we have you covered.

MHD Communications

MHD Communications is a total technology solution provider for small businesses. Their mission is to provide an affordable, sophisticated platform that solves all of your technology needs. They are available 24 hours a day, seven days a week, and are fully licensed, bonded, and insured. You can count on their professional and knowledgeable technicians to help you with any technology related issue.

MHD Communications offers an array of solutions, from computer systems to network cabling. The company is a top technology service provider in Tampa, Florida. It provides a range of office technology services, including voice and data services, fiber optics, audio-visual systems, and much more. The company also offers a comprehensive range of security solutions and can help you protect your company’s assets and employees from unauthorized access.

MHD Communications is a top data and voice services provider in Tampa, FL. The company has a proven track record of providing the best customer service and products.

Zymphony Technology Solutions

Based in Tampa, Florida, Zymphony Technology Solutions is a business technology solutions provider. The company specializes in managed IT services and cloud computing. In addition to these services, Zymphony also provides business optimization solutions and network monitoring. The company has 31 employees.

The company is a managed IT services provider that offers cloud computing, managed security, cybersecurity, and managed IT services to businesses of all sizes. It also provides consulting services ranging from strategic technology planning to website development and marketing strategy. This Tampa-based managed service provider has won awards for providing a range of services to small and medium-sized businesses.

HERO Managed Services

When it comes to project management, HERO Managed Services LLC is a firm that cuts through the fluff to get to the meat of the matter. They have superior project management skills and routinely complete projects ahead of schedule. Enlyft’s proprietary data on more than 18 million companies worldwide provides insights into a company’s tech stack and firmographic data. For instance, HERO Managed Services uses 49 different technologies and products across 10 categories, including Cloud Platforms & Services, Web Analytics, and Online Advertising.

Having an inefficient network and continuous system downtime can wear down your IT team and reduce productivity. However, HERO Managed Services in Tampa can solve your IT woes with its comprehensive IT solutions. Their technicians implement cutting-edge managed IT services to make sure that your business stays up and running without interruption. They also offer fast, 24/7 support to their customers.

IT Support Guys

IT Support Guys in Tampa offers a wide range of computer support and services. Their team of experts range from tier 1 help desk support specialists to cloud architects and CIOs. They are able to provide a full range of support services, including IT consulting, security, data recovery, and more.

Managed IT Services Roswell

Managed IT Services Roswell offers a number of benefits to small business owners. Whether you’re in need of a single device or a fully-managed service, you can choose from a variety of IT companies that provide the support you need. If you’re looking for a company to handle your IT services, you’ll find that Visual Edge IT Benchmark’s Roswell location is a great choice. In addition to providing a variety of office equipment and supplies, they also offer a comprehensive range of managed print and document management services.

Integral Choice

In addition to delivering excellent business phone systems, Integral Choice also offers a wide array of communication solutions. These include voice and data transport and cloud-based solutions. These services are ideal for a wide range of companies in the Roswell area. Read on to learn more about the company’s services.

Integral Choice’s managed IT services can help businesses with every aspect of their technology environment. These IT services are offered at competitive prices and use the latest trending technologies. This enables businesses in Roswell to enjoy the benefits of the latest technology, while freeing up time to focus on core processes and other aspects of their investments.

Visual Edge IT Benchmark

Visual Edge IT is a Roswell-based managed services provider that specializes in office equipment and managed IT services. The company offers a full range of office equipment and supplies including multifunction print/copy technology and supplies. The company also provides managed print and document management services. Customers can also call on the company for help with network security, disaster recovery, and other IT issues.

Visual Edge IT offers managed security, end-user support, and managed desktops. Their security service includes a risk assessment, employee training, documentation of policies and procedures, and redundant secure backups. These measures help reduce the risk of cyber attacks and minimize downtime. It is important to have a security plan in place that protects data and the business.

Visual Edge

Visual Edge Managed IT Services Roswell can provide you with a full range of IT and business support services. They provide turnkey office equipment, multifunction printing and copy technology, document management solutions, and more. In addition, their Roswell office offers expert computer repair and IT consulting. Visual Edge Managed IT Services Roswell is committed to providing its clients with top-quality support.

The City of Roswell is striving to become a more culturally-oriented city with more cultural institutions and arts programming. To this end, it has engaged in stakeholder engagements to help the city define its vision and aspirations. This approach helps to ensure that the city remains a great place to live and work.

Managed IT Services Londonderry

Managed IT Services Londonderry is a company that provides a variety of solutions for your business. They offer a variety of products and services, including multifunction print/copy technology and supplies. They also offer managed print and document management services. The company’s Londonderry location works closely with clients to develop customized solutions.

Visual Edge IT New England

For businesses located in Londonderry, New Hampshire, Visual Edge IT offers a comprehensive range of managed IT services. These services are tailored to meet your company’s specific needs, from a comprehensive portfolio of multifunction print/copy technology and supplies to comprehensive managed print and document management services. By integrating industry-leading technology with expert service, Visual Edge IT New England can provide the IT support you need.

Managed IT services offered by Visual Edge IT include security, cloud computing, and end-user support. These services provide comprehensive security, including risk assessments, employee training, and documented policies and procedures. They help businesses reduce their exposure to cyber attacks and minimize downtime. Whether you’re a small or medium-sized business, Visual Edge IT has the solutions and experience you need to succeed.

With its cloud services and productivity tools, Visual Edge IT helps businesses stay connected and productive. Their VoIP services include an enterprise system with a premise-based IP PBX, call-answering mobility, and voicemail to email. Moreover, Visual Edge IT can provide secure managed print technology to meet your business’s printing needs.

Managed It Sevices awards

The Managed It Services awards are returning to Londonderry this September to celebrate the best in the industry. The deadline for nominations is the end of July, and the shortlist will be announced in early August. The awards ceremony will take place in mid-September. Managing director of IT Europa Media & Intelligence, Michael O’Brien, believes that the most successful MSPs balance price with value and focus on productivity, efficiency, and technical innovation.

Newly qualified companies

Companies offering managed IT services should have a reputable reputation for providing quality work at competitive prices. The Best Managed Companies programme was started in Canada in 1993 and has since expanded to 48 countries. Countries where the Best Managed Companies programme is administered include: China, US, Southeast Asia, UK, Czech Republic, Mexico, Norway, and Italy.

Managed IT services allow businesses to streamline their operations while reducing costs and staying focused. The benefits of managed IT support services go beyond reduced costs – they increase profits, brand equity, and revenue. Moreover, businesses can plan for future, sustainable growth with the help of managed IT services.

Managed IT Services in Tampa

Managed IT solutions are the result of outsourcing your company’s IT responsibilities to an outside company. These firms provide knowledgeable professionals, effective treatments, and the right tools to keep your IT server up and running. Managed IT services in Tampa offer a number of benefits to business owners. For instance, they ensure that your server is always available and fully functional.

HERO Managed Services

The HERO Managed Services team offers cutting-edge IT services for a low monthly fee. Their technicians optimize your IT systems to achieve peak performance and value. They also provide proactive maintenance and fast support. HERO’s mission is to provide you with an efficient IT solution, and we’ll be glad to assist you in your time of need.

HERO Managed Services employs 49 technologies from 10 vendors. They’re especially heavy users of AdWords, ConnectWise, and ActiveCampaign. They also use products from 10 categories, including Web Analytics and Online Advertising. Enlyft is a database that tracks the use of over 15,000 technologies by 3M+ companies worldwide.

Cyber Chasse

Cyber Chasse is a rapidly expanding cybersecurity firm that offers professional solutions to a diverse clientele. The company has a large presence in the US, Canada, UK, Australia, and India. They have also expanded their educational offerings by establishing a Cyber Chasse Academy to address a growing need for cybersecurity professionals. The academy offers affordable niche technology training courses taught by industry experts.

The company provides cybersecurity solutions and IT managed services. It also offers business consulting.

Connect On

ConnectOn Managed IT Services Tampa Bay offers a range of tailored IT services to small to medium-sized businesses. These services include managed IT, cloud computing, security, and consulting. The company positions its services as an extension of a long-term partnership with their clients, many of whom have relied on ConnectOn for more than 10 years.

The company offers a number of benefits to their clients, including a fixed-fee pricing model. Its staff is available 24 hours a day, seven days a week and on major holidays. It also offers IT consulting, sourcing, and remote help desk services. Their specialists are knowledgeable in business systems support, cyber security, and cloud computing. They also employ a senior systems engineer who is well-versed in VMware and other cloud-based technologies.

Cutting Edge Network Technologies

The IT department at Cutting Edge Network Technologies offers a variety of IT-related services. These include IT consulting and managed IT services. They also offer proactive maintenance and business systems support, as well as software development and support. Their systems engineers are well-versed in cloud computing, business continuity, and cyber awareness. In addition to the above-mentioned services, they also provide 24×7 support.

Another company that provides managed IT services in Tampa is IT Authorities. They specialize in providing IT security services, compliance tasks, and cloud-based computing products for small to mid-sized businesses. Their technicians work on various types of computer systems, including Apple, Dell, and Microsoft. They are also certified by the Seal of Compliance.

Visual Edge IT

Visual Edge IT is a full-service IT company that specializes in managed IT services, cloud computing, print/copy solutions, and network security. These services provide comprehensive support for business technology, including 24×7 network monitoring, service desk, and data backup and restore. Their extensive portfolio of equipment, supplies, and services includes top-quality products from leading manufacturers. They are backed by 20 years of experience and a nationwide network of expert engineers.

In April, Visual Edge acquired Netwise Resources, a leading Midwest managed IT services provider. This acquisition continues the company’s strategy to be the largest independent provider of managed IT services throughout the US. The company will continue to serve its Tampa-based clients while expanding its reach to the southeast US marketplace. The acquisition also gives Visual Edge the opportunity to add new partners, such as those in the office equipment, managed print, and managed IT services segments.

How Managed IT Services Can Help You

If you want your IT system to run smoothly and without distractions, you should consider Managed IT Services. A professional company can take care of all your IT needs and help you get back to work. It will eliminate the hassles of managing your own IT, making your job easier and more efficient. Learn how they can help you today!

IaaS

IaaS managed IT services offer a variety of benefits for businesses. For one thing, they help reduce capital expenses and turn them into operational costs. Moreover, they offer an array of resources such as storage, compute, and networking, which organizations can scale up or down as required. These benefits make it possible for businesses to scale up their web applications and meet changing demand. In addition, IaaS services eliminate the need for large upfront storage costs and complex data management processes. They also simplify the planning and management of backup and recovery systems.

IaaS services provide users with access to servers, storage, and networking infrastructure. Customers can choose between virtual machines or dedicated bare metal servers, and can manage their resources through graphical dashboards or APIs. Many IaaS providers offer data warehousing and big data analytics capabilities.

In addition to providing IT services, IaaS also offers a variety of extensions that can be purchased through an IaaS vendor or a third-party service provider. These extensions can be used to offload mundane IT tasks and add additional features such as security and responsiveness. However, it is important to know exactly what you are purchasing before moving to an IaaS environment. Additionally, you need to consider the security of your mission-critical data and network infrastructure.

IaaS managed IT services are available from many providers, and choosing the right one will depend on your specific needs. You can also use an IaaS vendor that understands industry regulations. This will ensure that the IaaS provider can accommodate your business’s needs. In addition, it is essential to negotiate a service level agreement with your provider. Negotiate this carefully to minimize negative outcomes. When evaluating different providers, be sure to review their service levels and make sure you are comfortable with them.

With IaaS, your computing, storage, and networking resources live in the cloud. The cloud providers are third-party providers that host virtualized servers. They also often handle business continuity and systems maintenance. IaaS also allows you to pay for resources according to how much you use. Most providers charge based on virtual machine capacity.

Managed Services Provider Tampa

When it comes to choosing the best managed services provider Tampa for your business, it is important to understand which type of model will work best for your needs. A number of different types of models exist, but the all-in-one model is the most flexible and customizable. This model offers a comprehensive service package that includes remote technical support, on-site technical support, and consultancy for the entire business. The best part about this model is that it allows you to establish annual budgets that are easy to manage.

Amzur Technologies

Amzur Technologies, Inc., headquartered in Tampa, Florida, is a premier independent B2B solution provider that provides a full range of technology services. The company specializes in ERP implementation and digital transformation consulting, and also offers custom application development. Founded in 2004, the company has offices across the U.S. and in India.

The company provides end-to-end IT services to companies throughout Tampa. Its services range from integrating NetSuite and energy management to mobile applications and the internet of things. Additionally, Amzur offers project engineering and IT staffing services. The company has received multiple awards, including the TechServe Alliance Excellence Award from 2015 to 2017.

The company also offers proactive maintenance and remote help desk solutions. Additionally, it provides cyber-awareness and business continuity support. Its IT staff has extensive experience in business continuity, cloud computing, and cybersecurity. The company has employees with bachelor’s degrees in information systems and CISA certification.

PCe Solutions

With PCe Solutions, Tampa-based businesses are able to enjoy comprehensive IT support from one source. Its team of IT professionals implements software and monitors hardware, allowing business owners to focus on their core competencies. PCe Solutions understands business needs and stays within budget, allowing customers to benefit from the latest technology features.

By relying on a managed service provider, businesses can relax knowing their systems are protected from cyber attacks and other threats. These specialists also deliver the latest security updates, which help prevent cyber attacks. These benefits make a managed service provider the best option for businesses in Tampa. But choosing the best one can be a painstaking process.

Fizen Technology

Managed services Tampa companies can count on are specialized and flexible, allowing businesses to tailor solutions to fit their specific needs. Managed IT services include network monitoring, data contingency measures, software development, and 24/7 help desk services. Fizen Technology has a senior systems engineer who has experience in a wide range of technologies. Jared Kinsley has a bachelor’s degree in information systems and holds the Certified Information Systems Auditor (CISA) certification.

IT Authorities Tampa offers managed IT services for corporate offices, law firms, and medical facilities. Its technicians provide support for a wide variety of cloud-based computing products, and can supplement in-house staff. IT Authorities is based in Tampa and has been in business since 2006. Its clients have thousands of users on their networks. Its technology experts work with Microsoft, Dell, and Amazon computers. They also provide cybersecurity solutions and maintain Seal of Compliance verification for their clients.

Site Tech Services

Site Tech Services is a managed services provider based in Tampa, Florida. They provide a wide range of services including business consulting, network support, and computer support. They can support all types of businesses and industries in the Tampa Bay area. Their team of computer experts will provide you with a variety of options so that you can make informed decisions about your IT needs.

A managed services provider can also help protect your company’s information from disaster. For example, an IT MSP can provide local and remote image-based backups, which ensure that your company is prepared for any eventuality. They can also provide rapid recovery options, which allow businesses to be back up and running within a few minutes of a disaster.

Data-Tech

As the premier managed services provider in Tampa, Data-Tech helps clients leverage the power of information technology. Data-Tech also provides an exceptional customer experience. Whether you’re in need of a new server or a full infrastructure overhaul, Data-Tech has the solution for you. We’ve been helping companies use information technology to increase productivity and reduce costs for over 20 years.

We offer a full range of managed services, from remote help desk solutions to VCIO options. We’re also experienced in business continuity, cybersecurity, and cloud computing. Our staff is highly trained in VMware, cloud computing, and cyber awareness.

San Diego Window Replacement Companies

Window Replacement

One of the nicest investments you could ever make for your house in San Diego is to completely replace your old, drafty doors and windows. With the suitable new doors and windows, your house will surely gain from improved energy efficiency and increased property value. And better still, gorgeous new sliding glass doors and window replacements may greatly compliment and improve your distinctive home design for years to come. Obviously, to get the perfect match, you will have to hire San Diego windows replacement specialists that are skilled in fitting all types of windows and doors. So how can you pick the right company?

 

– First, examine the standard of the job. A fantastic company will flaunt its extensive assortment of local and imported windows, doors and shutters so it is easy to compare prices and quality. What’s more, reputable window replacement San Diego companies have their own showrooms where you are able to see and measure every one of their goods and discuss the job personally. You can bring your own samples and have them quantified by a local San Diego technician. The most reputable companies have highly trained technicians that understand how to properly fit each item.

 

– Next, look at the window replacement San Diego price list. Compare the characteristics and materials used for every item, as well as the installation expenses. Make sure that the price list includes the installation fee, which is typically not included in the initial quote. It’s common for some companies to bill additional installment fees when labor is added on to the bill. Look for a home window replacement cost that does not include additional hidden charges.

 

– Check the warranty policy. Your San Diego window replacement window installers’ warranties will often cover any defects in workmanship and materials used throughout the installation process. However, it’s necessary to be aware that even the best warranty isn’t a guarantee that you won’t encounter difficulties. It’s also important to know what the window installers will do when there are defects or if the work isn’t done correctly.

 

– Always inquire about renewal references. Good window replacement San Diego firms ought to have the ability to provide you with at least three renewal references. Inquire about these references from many different companies. When you contact the references, ask about the installation process, quality of workmanship, the durability of the windows and terrace doors, and if they’d recommend the firm for your next installment. This will give you an notion of the quality of the job that the business supplies.

 

– After you receive your three references, take the time to call every one. Only accept renewal quotes which include a private phone number, or a website link which you can use to request a written quotation. Ask for a renewal price that includes a warranty on all vinyl replacement windows installations, the substances used, the quantity of labor billed, and the period of the warranty. All these are the only elements of a good vinyl window installation which needs to be included in a renewal cost.

How Should You Invest Extra Cash?

If you find yourself with extra money at the end of the month or quarter after all of your expenses have been paid and you’ve made your regular retirement account contributions, congratulations! Now for the next question: should you be investing the extra cash, and if so how?

Following is a look at some of your options to help you decide the best course of action for your situation. But first, make sure that it is indeed excess cash and there aren’t any hidden or forgotten expenses lurking. If there are, devote the excess funds to these expenses first.

  1. Establish an emergency fund. A study recently conducted by the Federal Reserve found that four out of 10 Americans don’t have enough money in savings to cover a $400 unexpected expense. This drives home the importance of establishing an emergency savings fund you can easily tap when unexpected expenses arise, such as a car or appliance repair.

Everyone’s situation is different, but many financial experts recommend saving up between three and six months’ worth of living expenses in case of a financial emergency. This would likely be enough not only to cover an unexpected repair, but it could also help tide you over if you lose your job or experience a significant reduction in income.

Keep your emergency cash in an FDIC-insured savings account, like a bank or online money market account, so you can withdraw funds quickly and without penalty when they’re needed. You won’t earn much interest but that’s not the goal with emergency savings. The most important thing is that the funds be kept safe and liquid.

  1. Save for a short-term need. In addition to an emergency savings fund, you might also establish a savings fund for specific upcoming need. A car is a good example.

Instead of financing your next car, you could use extra cash to start a car savings fund. For example, let’s assume a monthly car payment of $400. If you put this much money in your car savings fund each month, in five years you would have $24,000 saved up to buy your next car. This could be enough money to buy a quality, low-mileage used vehicle or it could be a hefty down payment on a used vehicle, thus lower your car payments significantly. Beyond that, being able to pay cash means you have on less thing to haggle over when buying your car.

  1. Invest in alternative investments. There’s a whole universe of investments that go beyond stocks, bonds and Treasury issues. Known as alternative investments, these include real estate, art and collectibles, hedge funds, private equity, precious metals, commodities and cryptocurrencies, among others.

Alternative investments can provide more diversification to your portfolio. They usually have a low correlation with traditional investments so they can help smooth out portfolio volatility. Some alternatives can also provide a hedge against inflation and a safe haven during times of economic uncertainty. As your net worth grows, alternatives can help you spread your assets out among a wider range of different types of securities, thus reducing volatility. One note of caution when it comes to alternatives – they are typically less regulated and can be more complex than investing in stocks and bonds. So, before you invest in alternatives, make sure you have a clear understanding of the investment.

  1. Beef up your retirement savings. It’s never a bad idea to devote extra cash to a long-term financial goal like saving for retirement. If you haven’t maxed out contributions to your IRA, 401(k) or other retirement savings account for the year yet, consider putting your extra cash toward this.

In 2021, you and your spouse can each contribute up to $6,000 to a traditional or Roth IRA (or $7,000 if you’re 50 years of age or over), up to $13,500 to a SIMPLE IRA (or $16,500 if you’re 50 years of age or over) and up to $19,500 to a 401(k), 403(b) or 457 plan (or $25,500 if you’re 50 years of age of over). If you own a business or are self-employed, you can contribute up to $57,000 (or 25% of compensation) to a SEP IRA.

  1. Pay down debt. If you have high-interest outstanding consumer debt, paying this down may be a wise use of excess cash. But how should you prioritize paying down debt vs. saving or investing the money? Start by comparing the carry on your debt to what you could earn by saving or investing the funds.

For example, if you’re paying 19.5% interest on outstanding credit card debt, it’s pretty obvious that you’ll be better off paying this down than putting excess cash in a money market account earning less than one percent. But the answer isn’t as obvious if you’re trying to decide whether to pay down a 30-year mortgage with a low interest rate or invest the money for the long term, where it could generate a higher return than you’re paying in mortgage interest.

It often comes down to how you feel personally about debt. Some people just have an aversion to borrowing money and want to avoid debt or pay it down as quickly as possible regardless of what “the numbers” say. On the flip side, leverage can be a powerful financial tool if it’s used wisely and responsibly and you’re comfortable owing money.

As fee-only financial advisors, we can help you analyze these and other options and make the best decision regarding what to do with excess cash based on your situation. Book an introductory call with us or send us an email if you’d like to talk in more detail.

https://www.minervaplanninggroup.com/2021/01/29/how-should-you-invest-extra-cash/

High-3 Salary

How to Calculate Your FERS Pension and Disability Benefits

As a federal government employee, you have access to the Federal Employees Retirement System, also called FERS for short. This system includes a pension as well as disability retirement program.

What is Your High-3 Salary?

To determine your FERS pension and disability benefits, you’ll start by making a calculation that’s referred to as your high-3 salary. This is the highest average basic pay that you earned during any three consecutive years while working for the federal government.

Basic pay includes your base salary plus any salary increases you receive from which retirement deductions are withheld, as well as shift rates and locality pay. It doesn’t include overtime pay, bonuses, military pay, cash awards, holiday or travel pay, or cost-of-living adjustments (COLAs). The amount of your basic pay is indicated on your Standard For 50 (SF50) and your Leave and Earnings Statement (LES).

For most federal government employees, the highest three years of basic pay are the last three years that they work. In this case, go back three years from the date of separation to determine the starting date for your high-3 salary calculation. If you have had breaks in service, the three years don’t have to be continuous — you can join two or more separate periods of service together.

For example, let’s say you plan to retire on April 1, 2021, and have worked for the federal government continuously since then. If the past three years were your highest earnings years of basic pay, the starting date for your high-3 salary calculation would be April 1, 2018. If your basic pay during these three years was $70,000, $75,000 and $80,000, then your high-3 salary would be $75,000.

Determining Your Pension and Disability Benefits

Once you’ve calculated your high-3 salary, you can determine the amount of your pension and disability benefits. The FERS pension calculation is as follows:

High-3 Salary x Years of Creditable Service x % Pension Multiplier = Annual FERS Pension

If you’re under age 62 on the date of separation or 62 years of age or over and have less than 20 years of federal service, your pension multiplier is 1%. Assuming a $75,000 high-3 salary, your annual FERS pension would be $14,250 with 19 years of service.

However, if you’re 62 years of age or over on the date of separation and have 20 or more years of federal service, your pension multiplier is 1.1%. Assuming a $75,000 high-3 salary, your annual FERS pension would be $16,500 with 20 years of service.

The pension multiplier is the same (1.1%) for the FERS disability calculation if you’re 62 years of age or over on the date of separation and have 20 or more years of federal service. But if you’re under 62 years of age when you begin receiving disability benefits, you will receive 60% of your high-3 average salary minus 100% of your Social Security benefit for any month when you’re entitled to receive Social Security benefits during the first 12 months. After this, you will

receive 40% of your high-3 average salary minus 60% of your Social Security benefit for any month when you’re entitled to receive Social Security benefits.

Once you turn 62, your benefit will be recomputed using an amount that essentially represents the benefit you would have received if you had continued working until the day before your 62nd birthday and then retired under FERS.

How to Increase Your Pension Benefits

The best way to increase your FERS pension benefit is to continue working past your earliest eligibility date for retirement if you’re able to do so. This will increase both your length of service and your high-3 salary.

Going back to our hypothetical example, let’s say this individual worked five years longer, giving him 25 years of eligible service. This also boosted his high-3 salary to $80,000, thus increasing his FERS annual pension benefit to $22,000.

Don’t miss this critical point: By working an extra five years, this individual increased his FERS annual pension benefit by $5,500. If he spends 20 years in retirement, this adds up to an additional $110,000 in pension payments.

Plan Carefully

Your decision about when to retire will have a lasting and long-term impact on your retirement finances. So give this careful thought and plan to spend time crunching some numbers before making a final decision. Book an introductory call or send us an email if you’d like to talk about your situation in more detail.

https://www.minervaplanninggroup.com/2021/01/28/how-to-calculate-your-fers-pension-disability-benefits/

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