fbpx

Posted on Friday, 19th January 2024 by Dennis Damp

Share

I was required to take my first RMD at age 70 ½ several years ago before the laws were changed. Under the SECURE 2.0 Act in 2023 the required withdrawal age increased to 73. Several newsletter subscribers asked for an update on TSP annuities, RMDs, and withdrawals in general. Rachel stated, “While the new TSP […]

Tags: , , ,
Posted in

| Comments (0)

Posted on Friday, 5th January 2024 by Dennis Damp

Share

It’s the beginning of a new year and a good time for those planning their retirement to assess where they are financially, long before filing their retirement paperwork. Federal employees received a significant pay increase this year, 5.2% on average after factoring in locality pay. The 2024 pay charts are available for your review. COLA […]

Tags: , , , ,
Posted in

| Comments (0)

Posted on Friday, 15th December 2023 by Dennis Damp

Share

I like to close out each year with a few last-minute updates and observations. My next article won’t be published until early January. Time to celebrate the holidays and just sit back and relax awhile. The Clock Keeps Ticking – Thankfully The older I get, the faster time flies by. In our youth most couldn’t […]

Posted in

| Comments (2)

Posted on Friday, 8th December 2023 by Dennis Damp

Share

I started purchasing Treasury Bills in early 2022 to increase our returns due to the extremely low interest rates banks, credit unions, and CDs were offering at the time. The Federal Reserve kept interest rates artificially low far too long. After a decade of near zero interest rates, those on fixed incomes were losing money […]

Tags: , , , , ,
Posted in

| Comments (0)

Posted on Friday, 1st December 2023 by Dennis Damp

Share

I’ve spent most of my time evaluating our health care options this past two months. This year’s focus was on the new Medicare Advantage (MA) plans offered by GEHA and the Medicare Prescription Drug Plan (MPDP) offered by Blue Cross and Blue Shield and 16 other providers. So much to consider and research before staying […]

Tags: , , , , , ,
Posted in

| Comments (4)

Posted on Friday, 24th November 2023 by Dennis Damp

Share

This article compares the Government Employees Health Association (GEHA) Standard Plan to their new MA Option. You will have to review the specific plan of interest to ensure it covers the services you need for the upcoming year.   Open season closes December 11, we have less than two weeks to decide whether to stay […]

Tags: , , , ,
Posted in

| Comments (10)

Posted on Friday, 17th November 2023 by Dennis Damp

Share

  Open season runs from November 13th through December 11th.  There are tools available to evaluate provider options, select your 2024 plan, and submit changes to OPM. Use the following resources to make an informed decision for you and your family’s health care needs. Forward this article to others that can use this “Open Season” […]

Tags: , , ,
Posted in

| Comments (4)

Posted on Friday, 10th November 2023 by Dennis Damp

Share

The Inflation Reduction Act’s Part D reforms will impact FEHB plans in 2024. Historically, most federal annuitants didn’t need to consider Part D because FEHB prescription drug benefits were as good or better and didn’t have an additional premium. However, OPM has allowed FEHB plans to offer Part D prescription drug plans (PDP) in 2024, […]

Tags: , , , , , ,
Posted in

| Comments (0)

Terms Of Use