Chartered Federal Employee Benefits Consultant ChFEBC … what does that mean? It means Chartered Federal Employee Benefits Consultant. If you’re a federal employee searching for a financial consultant, it means you have found a financial services professional with a full, thorough understanding of CERS and FERS annuities, the Thrift Savings Plan, FEGLI, and other benefits available only to federal government workers.Today, the financial world is full of credentials and designations. Some are respected, some aren’t. When it comes to retirement planning for federal employees, the ChFEBCsm designation is easily the most respected. You really have to earn it. (There are some financial credentials simply conveyed to people after the completion of a glorified sales course. The ChFEBCsm designation is not one of them.)The average financial advisor faces a learning curve when it comes to understanding federal benefits and the retirement issues that concern federal government employees. A ChFEBC does not.It stands for education. To become a ChFEBC, you have to undergo an intensive training course covering the CSRS/CSRS offset annuity, the FERS/FERS transferee annuity, Special Provisions FERS (for air traffic controllers, reservists, and firefighting and law enforcement personnel), Federal Employee Group Life Insurance, the Thrift Savings Plan, the Federal Long-Term Care Insurance Program and more.Part of the curriculum also has to do with fact-finding: knowing how to ask the right questions of federal employees to get a truly accurate picture of their financial situations. After the course of study, you must pass a rigorous examination. Many ChFEBCs have further educated themselves by studying to earn other financial and insurance industry designations.It reflects ethical and experiential standards. Before you can even study for the ChFEBCsm designation, you need to have at least three years of experience in insurance, benefits planning, retirement planning or a related field. As a ChFEBC, you must put the interests of a federal employee first, and consult that employee with objectivity and integrity while providing services based on his or her needs.ChFEBCs also continually educate themselves on the annual changes in federal benefits, so that they may be recertified at the start of each calendar year. They also have to pass a background check to see that they maintain good ethical standing and valid SEC and FINRA licenses.This is why the ChFEBCsm designation is so respected. Knowing all this, would a federal employee settle for any less qualified financial consultant? I doubt it.