Posted on Tuesday, 15th December 2015 by Dennis DampPrint This Post
I receive email messages from retirees and survivors each year that can’t find their CSA claim number and are uncertain as to what benefits they elected when they retired. At least once a year we receive a Notice of Annuity Adjustment, shortly after the new year starts, that provides abundant information for annuitants and their survivors. Any time your annuity payment is modified, for whatever reasons, OPM sends out a new notice outlining the change and the impact on your annuity. If a COLA is pending, you change an allotment, increase tax withholdings, or for example your long term insurance premium increases you will receive a Notice of Annuity Adjustment.
This form offers a wealth of information for you and your family. It includes your Claim number, the amount withheld for each item deducted from your annuity payment, and your gross and net payment. This document also includes an Annual Notice of Survivor Annuity Election Rights and provides contact information for OPM including a recommendation to register and log on to their online services.
I keep the Notice of Annuity Adjustments that I receive in my retirement folder and include a copy in our estate binder along with OPM’s annuity and FEGLI insurance verification forms that OPM sends out upon request. This is an important document and needs to be readily available if you or your survivor need to contact OPM or require clarification on your benefits.
Open Season Final Comments
I changed my enrollment to the GEHA Standard Self Plus One option this open season. Within three weeks of making the change I received our cards and an extensive welcome package outlining all of their services. They included an 8 page fold out comparing the Standard to High options with separate columns listing what you pay for each service area when you also have Medicare A and B. For those 65 and older with Medicare A and B there is little difference between the two options except for prescriptions. If you don’t use many prescriptions or are able to use generic drugs the Standard option may work well for you depending on your personal situation since you pay no deductibles, copayments or coinsurance for either plan option. The monthly high option self plus one premium is $496.51 compared to $241.25 for the Standard option, a savings of $255.26 per month. For those also enrolled in Medicare evaluate your prescription needs to determine if the additional $255.26 a month is worth the cost. Both Standard and High options have a prescription 90-day supply mail service program as well.
I’m constantly on my feet, going here and there, and can’t sit still for long. Over the years I’ve had foot problems and my knees aren’t in the best of shape either. My wife and I walk daily with our dog and throughout the day in the house. By the middle of the day my feet are tired and sore. Recently I discovered Sketchers GoWalk 3 soft sole slip on shoes that are extremely comfortable. Much of our home has hardwood or ceramic flooring and I was looking for a soft sole house shoe to cushion the beating my feet were taking on these hard surfaces. My wife was experiencing feet and shin pain and bought a pair of GoWalk 3 Sketchers and the pain went away. I bought a pair for the home and when you put them on you feel like you are walking on air. My feet and joint pain disappeared and the neuropathy that I’ve had for years isn’t as pronounced with these shoes. I purchased a lace up pair this week to wear outside and I’m impressed with the comfort and results. I no longer use inserts in my shoes, there isn’t a need since the Sketcher GoWalk 3 shoe seems to conform to your foot’s contour. If you are looking for a comfortable shoe check out the Sketcher GoWalk 3.
Retiree Employment Update
Employers recruiting federal retirees and those soon to retire post job vacancies on our Jobs Center. Recently Federal Staffing Resources posted several openings for three psychologists and a health educator that are needed in North Carolina, Oklahoma, Texas and Virginia. Visit our Jobs Board for complete details.
Private companies, contractors, and state government departments use our Jobs Board to hire skilled federal retirees for part and full time positions nationwide. Many opportunities exist for those looking to supplement their retirement income or to start a second career. We provide this free job listing service to companies that are seeking to hire experienced retired federal workers.
Request a Retirement Benefits Summary & Analysis. Includes projected annuity payments, income verses expenses, FEGLI, and TSP projections.
Helpful Retirement Planning Tools
Distribute these FREE tools to others that are planning their retirement
- Retirement Planning Guide
- Master Retiree Contact List (Important contact numbers and information)
- How to be Financially Prepared When You Retire
- How to be Emotionally and Physically Prepared When You Retire
- 2016 Leave & Schedule Excel Chart (FREE Excel chart tracks actual leave balances)
- Survivor’s Guide
- Estate Planning Guide (An 11 part series that will help readers prepare for retirement, understand basic estate planning techniques, and compile their personal “Survivor’s Guide” binder.)
Visit our other informative sites
The information provided may not cover all aspect of unique or special circumstances, federal regulations, medical procedures, and financial information are subject to change. To ensure the accuracy of this information, contact relevant parties and ask them to review your official personnel file and circumstances concerning this issue. Retirees can contact the OPM retirement center. Our article is not intended nor should it be considered investment advice and our articles and replies are time sensitive. Over time, various dynamic economic factors relied upon as a basis for this article may change. The advice and strategies contained herein may not be suitable for your situation and this service is not affiliated with OPM or any federal entity. You should consult with a financial, medical or human resource professional where appropriate. Neither the publisher or author shall be liable for any loss or any other commercial damages, including but not limited to special, incidental, consequential, or other damages.
Last 5 posts by Dennis Damp
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- Retiree Reflections Autumn 2016 - November 30th, 2016
- FEHB Open Season & 2017 Leave Chart Updates – Retiree Jobs - November 17th, 2016
- Ready – Set – Go! FEHB Open Season - November 12th, 2016
- Annuity Calculator - What You Will Have When - October 29th, 2016
- 2017 COLA, Federal Employee's Leave Chart, & Pay Raise - October 23rd, 2016
- FEHB Open Season Update & Best Date to Retire in 2017 - October 14th, 2016
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