Before 2027, federal employees and annuitants should complete an end-of-year review between October and December 2026. The goal: lock in benefit, tax, and estate decisions before the January 2027 plan year starts.
The nine core items include your Thrift Savings Plan (TSP) election, your Federal Employees Health Benefits (FEHB) enrollment, and your beneficiary designations. Before choosing your 2027 coverage, compare your current plan with the latest Blue Cross FEHB premiums for 2027 to understand how premium changes may affect your budget. They also cover your projected cost-of-living adjustment (COLA) under the Federal Employees Retirement System (FERS) or Civil Service Retirement System (CSRS), plus your coordination with Social Security and Medicare.
Two major 2027 figures are now confirmed. The Social Security Administration (SSA) announced a 3.6% COLA for 2027 on October 14, 2026, according to its official statement. The U.S. Office of Personnel Management (OPM) set the Federal Benefits Open Season for the 2027 plan year to run from November 9 through December 14, 2026, per its official announcement.
Those two anchors fix most of the moving parts in your pre-2027 review. This checklist walks through the nine items most federal employees should finish before year-end. Figures come from OPM, SSA, the Internal Revenue Service (IRS), and the Federal Retirement Thrift Investment Board (FRTIB). As part of your year-end review, check whether you’re contributing enough to receive your full agency match and avoid contribution limits that could affect matching later in the year. Our guide on how to maximize TSP agency matching in 2026 explains the key rules and steps to review before December ends.
Federal Pension Advisors, a retirement planning firm specializing in federal employee benefits, publishes this guide for informational purposes only, not as individual advice.
What to Review Before 2027: The Nine-Item Checklist
Before running through each item in detail, use this scannable list to triage your October 2026 review. Only one item carries a hard external regulatory deadline: the FEHB Open Season window that closes December 14, 2026.
A new TSP election for January 2027 is bounded instead by your agency's administrative payroll cutoff, which varies by employer. Before submitting your election, review the 2027 TSP contribution limits and catch-up rules to understand the projected contribution amounts and plan your savings accordingly. The remaining items are suggested year-end reviews rather than regulatory deadlines.
- TSP contribution election. Recalculate your per-pay-period amount against the confirmed 2026 regular limit of $24,500 and the projected 2027 limit of approximately $25,500, according to Milliman's September 2026 projections. The IRS has not yet issued its official 2027 figure.
- FEHB plan selection. Review your current plan during Open Season, which runs from November 9 through December 14, 2026, according to OPM. Elections take effect in January 2027.
- 2027 COLA impact. Model the confirmed 3.6% CSRS and 2.6% FERS adjustment against your January 2027 annuity. The COLA takes effect December 1, 2026, and appears in the January 2027 payment, according to OPM.
- Beneficiary designations. Verify designations on your TSP account (Form TSP-3), Federal Employees Group Life Insurance (FEGLI) program (SF-2823), FERS annuity (SF-3102), and unpaid compensation (SF-1152).
- Social Security coordination. The 2027 Social Security taxable wage base rises to $192,300 from $184,500 in 2026, according to the SSA's October 14, 2026 announcement.
- FEHB and Medicare coordination. Confirm your Medicare Part A, B, and D posture if you are 65 or older, and review the Income-Related Monthly Adjustment Amount (IRMAA) brackets.
- Retirement date target. If you plan to retire in 2027, confirm your Minimum Retirement Age (MRA), your years of creditable service, and your High-3 average salary projection. The MRA alone does not establish eligibility. Service requirements also apply, with 30 years of service required for an unreduced immediate annuity at the MRA.
- TSP Roth catch-up compliance. 2027 is the first plan year the final IRS regulations on mandatory Roth catch-up contributions for higher earners generally apply.
- Estate documents. Review your durable power of attorney, healthcare proxy, and beneficiary forms for consistency with your current intentions.
Confirmed 2027 Federal Retirement Numbers at a Glance
Most of the figures driving the pre-2027 federal retirement review are now official. The table below compares the key 2026 numbers against the confirmed or projected 2027 values, with the source for each. For a broader look at how your pension, Thrift Savings Plan (TSP), and Social Security can work together, explore our guide to federal retirement income planning.
The 2027 COLA percentages are confirmed, but the amount an individual annuitant receives can vary. Eligibility rules differ between CSRS and FERS. A new annuitant's first COLA may be prorated based on the number of months the annuity was in payment status, and certain disability and survivor annuitants are treated differently, according to OPM.
TSP figures remain the single largest unknown. According to the Federal Retirement Thrift Investment Board, the IRS typically publishes official contribution limits in late October or early November, with the TSP (the federal government's tax-advantaged retirement savings program) updating its payroll instructions shortly after. Until that announcement, treat projections as planning estimates rather than payroll inputs. Federal employees nearing retirement should also understand what happens after OPM receives their retirement application, including interim payments, processing timelines, and the transition to regular annuity payments.
TSP Elections: What to Review Before 2027
Your TSP election is the single most time-sensitive item on the October 2026 checklist. A per-pay-period amount that was correct in January 2026 is almost certainly wrong for January 2027. The IRS raises the elective deferral ceiling annually, and the Roth catch-up rule applies for the first time in 2027.
Recalculate your per-paycheck amount
The 2026 regular employee contribution limit is $24,500, according to the IRS. Divided across the 26 federal pay periods in 2026, that is roughly $942.31 per pay period for a worker who intends to max out.
For 2027, the projected limit of approximately $25,500 would translate to about $981 per pay period across 26 periods, according to FedTools' September 2026 projection based on BLS CPI-U data. Treat these figures as planning estimates until the IRS publishes its official Notice, typically in early November.
Preserve the full agency match
FERS and Blended Retirement System participants receive a government matching contribution of up to 5% of basic pay each pay period. Two separate issues are at play here. Understanding how these contributions work is one part of retirement preparation, and reviewing other key benefits and deadlines is equally important. Use these federal retirement planning checklists to organize your retirement tasks and identify important decisions to review.
First, if your per-paycheck election is large enough that you hit the annual elective deferral ceiling before the last pay period of the year, your regular contributions stop for the rest of the year. The 1% automatic plus 4% matching contributions tied to those paused pay periods are generally forgone, according to the FRTIB. Avoiding this requires setting your per-paycheck amount to spread contributions evenly across all pay periods. As you review your retirement savings strategy, it is also worth understanding other income sources you may qualify for, including the FERS Supplement and its eligibility requirements.
Second, participants aged 50 and older benefit separately from the TSP's "spillover" rule. Once regular contributions reach the elective deferral limit, additional eligible contributions automatically flow to the annual catch-up limit without a separate catch-up election.
The 2027 Roth catch-up rule
Under the IRS's final SECURE 2.0 regulations, the mandatory Roth catch-up rule generally applies to taxable years beginning after December 31, 2026. For affected employees, catch-up contributions must be designated as Roth if the employee's prior-year FICA wages from the employer exceeded a statutory, inflation-indexed threshold.
That threshold was $145,000 for the 2024 base year and $150,000 for the 2026 base year. Milliman's October 2026 projection puts it at approximately $155,000 for the 2027 base year (measured against 2026 wages), with the IRS to confirm the final figure, according to Milliman.
The rule applies only to employees whose prior-year wages crossed that threshold, not to every employee aged 50 or older. Governmental plans, including the TSP, may have additional applicability considerations. Confirm with your agency's payroll office how your 2027 catch-up designation will be processed before your first 2027 pay period.
Review your Lifecycle Fund or allocation
October is also the right month to review your fund allocation. The TSP's Lifecycle (L) Funds automatically rebalance toward the G Fund as the target date approaches.
If you have retired or will retire within the next three years, confirm your current L Fund target date still matches your planning horizon, according to the TSP's fund disclosures.
FEHB Open Season for the 2027 Plan Year
OPM’s 2027 Federal Benefits Open Season runs from November 9 through December 14, 2026, with elections taking effect in January 2027.
During Open Season, eligible participants can enroll in, change, or cancel FEHB, FEDVIP, and FSAFEDS coverage. Postal Service employees and annuitants use PSHB instead of FEHB.
Review the 2027 plan brochures and premium tables before choosing a plan. Compare premiums, out-of-pocket maximums, and prescription drug coverage. If your plan is discontinued, check OPM’s plan-change list to understand your automatic enrollment options.
If you plan to retire in 2027, also verify FEHB’s retirement eligibility requirements, including the general five-year continuous-coverage rule.
Social Security, Medicare, and the FERS Supplement
For 2027, key federal retirement figures include a 3.6% Social Security COLA and an increase in the taxable wage base to $192,300.
- Working employees: The 6.2% employee Social Security tax applies to wages up to $192,300.
- Retirees: CSRS annuitants generally receive the full 3.6% COLA, while eligible FERS annuitants generally receive 2.6%. The FERS Special Retirement Supplement does not receive COLAs.
- Medicare IRMAA: Higher-income beneficiaries may pay additional Part B and Part D premiums, generally based on 2025 income for 2027.
- FEHB and Medicare: Review your health plan’s Medicare coordination, Part B costs, and potential rebates before making Open Season decisions.
Beneficiary Designations and Estate Documents
A valid beneficiary designation generally controls payment of the specific federal benefit covered by that form, subject to applicable law and any relevant court orders, according to OPM. A will that leaves "everything to my spouse" does not affect your TSP account if your TSP-3 form names a different person. Use the pre-2027 review to pull every form and confirm each one. As part of this review, use the TSP calculator to estimate how your retirement savings may grow and assess whether your current savings align with your retirement goals.
The four federal beneficiary forms
Four forms control the disposition of specific federal retirement assets at death. Each is filed separately, with a different office, and each covers a distinct benefit. None of these forms controls a monthly survivor annuity. The survivor-election choices made at retirement govern that annuity.
- Form TSP-3 governs the balance of your TSP account at death. File it with the TSP, not with your agency, per the TSP's beneficiary instructions.
- SF-2823 governs your FEGLI (Federal Employees Group Life Insurance) proceeds. File it with your agency's human resources office.
- SF-3102 (FERS) or SF-2808 (CSRS) governs the lump-sum refund of any unpaid retirement contributions at death. This is separate from any monthly survivor annuity payable to a spouse or former spouse. File with OPM.
- SF-1152 governs any unpaid compensation, including final pay and unused annual leave. File with your agency.
According to OPM, if a form is missing or outdated at the time of death, a statutory order of precedence applies for the benefit that form would have controlled. The specific order varies by benefit type. The governing statute for each program sets it, so a single "federal order of precedence" does not apply uniformly across all four forms.
Review triggers
Update every form if any of the following has occurred since your last review: marriage, divorce, birth or adoption of a child, death of a named beneficiary, or a change in your estate plan.
The checklist for the pre-2027 review should include a confirmation date for each of the four forms, filed in a central place along with your durable power of attorney and healthcare proxy.
How Federal Pension Advisors Approaches the Pre-2027 Review
Most of the items on this checklist can be completed independently by a federal employee or annuitant who sets aside two or three focused evenings before Open Season closes. The items that most often benefit from outside review are the TSP catch-up decision for higher earners facing the new Roth rule, the Medicare Part B decision for those approaching 65, and the retirement-date confirmation for anyone planning to separate in 2027.
Federal Pension Advisors, a retirement planning firm specializing in federal employee benefits, works with federal employees and annuitants through a structured annual review covering the items in this checklist. That review includes the projected High-3 average salary (the average of the highest three consecutive years of base pay) and the FERS, CSRS, TSP, and FEHB decisions that depend on it. Retirees should also understand how annual benefit adjustments may affect their income, including the 2027 FERS COLA and its impact on retirement payments.
The October 2026 review is also the moment to resolve any inconsistencies between your federal retirement projection and your other retirement assets, including an Individual Retirement Account (IRA), a prior-employer 401(k), or taxable brokerage holdings.
Conclusion: Finish the Pre-2027 Review Before December 14
One hard external deadline anchors the October 2026 federal retirement checklist: December 14, 2026, when FEHB Open Season closes for the 2027 plan year. A new TSP election for January 2027 is also time-sensitive. Each agency's payroll cutoff determines when a change actually takes effect. Federal employees approaching retirement can also book a free federal retirement consultation to review their benefits, retirement timeline, and important year-end decisions.
The SSA and OPM confirmed the 2027 COLA of 3.6% for CSRS and 2.6% for FERS on October 14, 2026, settling the largest remaining question. The 2027 TSP contribution limit remains projected until the IRS publishes its official Notice, expected in early November.
Work through all nine items on the checklist in sequence. As part of your review, compare recent investment results with your retirement timeline by checking the September 2026 TSP fund performance. If a specific item, such as the new 2027 Roth catch-up rule or the Medicare Part B decision, warrants outside review, Federal Pension Advisors offers scheduled consultations through its website.
Frequently Asked Questions
When does FEHB Open Season end for 2027?
FEHB Open Season for the 2027 plan year ends on Monday, December 14, 2026, according to the U.S. Office of Personnel Management. Open Season runs from November 9 through December 14, 2026, and elections made during the window take effect in January 2027. The dates are set by regulation at 5 CFR 890.301(f).
How much is the 2027 FERS COLA?
The 2027 FERS cost-of-living adjustment is 2.6% for eligible annuitants, applying the statutory formula at 5 U.S.C. § 8462. The underlying Social Security and CSRS COLA is 3.6%, and FERS receives that minus one point because it exceeds 3%. A new annuitant's first COLA may be prorated based on months in payment status, according to OPM.
What is the TSP contribution limit for 2027?
The Internal Revenue Service has not yet published the official 2027 Thrift Savings Plan contribution limit, typically announced in early November 2026. The confirmed 2026 regular employee limit is $24,500. Milliman projects the 2027 limit at approximately $25,500 based on inflation data through August 2026.
Can I change my TSP contribution outside of Open Season?
Yes. TSP contribution elections are not tied to Open Season, according to the Federal Retirement Thrift Investment Board. You can change your contribution amount, your traditional-versus-Roth split, and your fund allocation at any time through the TSP website or your agency's payroll system. Changes take effect in the next available pay period.
What happens to my FEHB coverage when I retire?
Your FEHB coverage continues into retirement if you retire on an immediate annuity, were enrolled in FEHB on your retirement date, and had continuous FEHB coverage for the five years immediately before retirement. That coverage can be as an enrollee, as a family member, or in certain qualifying TRICARE periods, or it can run from your first opportunity to enroll if that was shorter, according to OPM. Annuitant deductions are generally monthly rather than biweekly.
How does the 2027 Social Security COLA affect my FERS annuity?
The 3.6% Social Security COLA for 2027 does not apply directly to a FERS annuity. Eligible FERS annuitants receive a reduced COLA of 2.6%, according to the Office of Personnel Management and the formula at 5 U.S.C. § 8462. CSRS annuitants and Social Security beneficiaries receive the full 3.6%.
Disclaimer:
This article is for educational and informational purposes only and does not constitute financial, investment, tax, or legal advice. Federal retirement benefits, contribution limits, eligibility requirements, and deadlines may change. Verify current information with the U.S. Office of Personnel Management (OPM), the Internal Revenue Service (IRS), the Social Security Administration (SSA), and the Thrift Savings Plan (TSP). Consult a qualified financial, tax, or legal professional regarding your individual circumstances. Federal Pension Advisors is an independent retirement planning firm and is not affiliated with or endorsed by any U.S. government agency.
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Thomas A. Doherty
Thomas A. Doherty is a retirement planning consultant with 35 years of experience helping individuals, federal employees, academic employees, and business owners better understand their retirement options. His work focuses on helping clients make the most of their available benefits, insurance policies, and investment plans so they can build more stable retirement income and reduce unnecessary financial risk.
