Posted on Monday, 1st August 2016 by Dennis Damp

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FEGLI Open Season Update A number of our subscribers have sent questions about the upcoming FEGLI Open Season and are not sure what options to consider. Open season runs from September 1 through September 30, 2016. It’s time to review your current insurance coverage and determine your true insurance needs before it’s too late. You […]

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Posted on Friday, 10th June 2016 by Dennis Damp

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I applied for Long Term care insurance when it was first offered as a benefit in December of 2002. Our premiums for the Future Purchase Option (FPO) at that time were reasonable for the 5 years of coverage we elected; $73.57 monthly for my wife and I.  My premium for the Future Purchase Option was […]

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Posted on Wednesday, 2nd March 2016 by Dennis Damp

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Social Security File & Suspend I discussed in a recent column the process my wife and I went through to file and suspend my Social Security benefits.  I did this so that my wife will now be able to collect a spousal benefit while I deferred collecting until age 70 and my benefit will increase […]

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Posted on Saturday, 13th February 2016 by Dennis Damp

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Recently one of our newsletter subscribers asked me to explain how the Government Pension Offset (GPO) impacts a married couple, one retiring under CSRS and the other under FERS.  The husband will retire under CSRS and his wife is a FERS employee. He also wanted to know if his wife’s social security will be penalized […]

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Posted on Wednesday, 27th January 2016 by Dennis Damp

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I typically purchase Intuit TurboTax Home & Business software in mid December each year to start working on our income taxes. I was able to download my Statement of Annuity Paid (1099 R Form) direct from OPM’s retirement services web site on January 17th!  Typically retirees receive these forms in the mail by the end […]

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Posted on Friday, 15th January 2016 by Dennis Damp

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As of January 1, 2016, FEGLI premiums for many options and age brackets changed due to actuarial adjustments. Annuitants that carried FEGLI coverage into retirement will receive a Notice of Annuity Adjustment showing the new rates. Most of the new FEGLI rates for Option A, B and C decrease. The older age band rates for […]

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Posted on Monday, 11th January 2016 by Dennis Damp

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Important Note: This article is not an investment recommendation and should not to be relied upon when making investment decisions – investors should conduct their own comprehensive research. Please read the Disclaimer at the end of this article. Each year I review our investments and rebalance funds as necessary to maintain a pre determined asset […]

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Posted on Tuesday, 15th December 2015 by Dennis Damp

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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 […]

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