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Posted on Friday, 29th August 2025 by

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Over the past three years our health care premiums have increased an average of 29.9%! If this trend continues, many will be seeking lower cost coverage among the FEHB/PSHB providers.

The 2025 Open Season runs from November 10, 2025, through December 8, 2025. Federal and Postal employees are able to evaluate their health, dental or vision insurance coverage for the upcoming year.

OPM sent a FEHB Program Carrier Letter to all FEHB and PSHB providers on January 15, 2025. This letter outlines the policy goals and initiatives for the 2026 Programs.  An addendum letter was issued on January 31, 2025, to incorporate two Presidential Executive orders designed to address gender ideology extremism and protect children from chemical and surgical mutilation.

This year, OPM is issuing two separate Technical Guidance documents, one for FEHB Carriers and one for PSHB Carriers.

OPM GOALS

As excerpted from their guidance letter, “OPM’s goal for both the FEHB and PSHB Programs is to provide quality, affordable, and equitable health benefits for Federal and Postal Service employees, Federal and Postal Service annuitants, their family members, and other eligible persons and groups.”

The addendum further states, “Pursuant to the first EO, all federal agencies are tasked with ensuring all federal policies and documents that require an individual’s sex list two options, male and female, and shall not make available third options or request gender identity.”

OPM no longer requires Plan Year 2026 proposals to clarify or update the obesity management benefit to include the elements listed in the bullets starting on the bottom of page 10 and continuing through the bottom of page 12 of Carrier Letter 2025-01.

PREMIUM IMPACT

The average increase for our FEHB plans in 2025 was 13.5%, and the PSHB increase was 11.5%, the largest increase in recent memory! This significant rise was due to factors such as rising healthcare provider costs, additional requirements by the previous administration to provide gender affirming care, utilization of prescription drugs, and higher spending on behavioral health services.

The carriers will face challenges again this year due to inflation, rising healthcare costs, and increased drug prices. However, eliminating specific expensive elective procedures and limiting obesity coverage could help moderate any pending increases.

EVALUATE YOUR CURRENT FEHB PLAN

Open season is coming up fast, and it’s a good time to review your current plan’s coverage and ask yourself if it met your needs and expectations this year. Ask these questions:

  • Did I have coverage issues?
  • What additional coverage will I need next year?
  • Was I able to get the medications/prescriptions needed?
  • Did I have to pay high prescription copayments?
  • Were my deductibles, copayments, and coinsurance excessive this year?
  • Are the labs, doctors’ offices, hospitals, and outpatient facilities available in my immediate area and covered by my current FEHB/PSHB plan?
  • Did I have to travel out of my area to see a provider or have procedures performed?
  • Was customer service helpful and easily accessible?
  • Did I encounter unanticipated expenses that I thought were covered by my current plan?
  • Are you signing up for Medicare this or next year? If so, you may want to consider moving to a lower-cost FEHB plan.
  • Explore Medicare signup options.

Answering these and other questions will help you prepare for the upcoming open season. If you had problems this year, look for plans that will better suit your needs in 2026.

Helpful Retirement Planning Tools

Disclaimer: The information provided may not cover all aspects of unique or special circumstances.  Federal regulations, medical procedures, investment information, and benefit details are subject to change. To ensure the accuracy of this information, contact relevant parties for assistance, including OPM’s retirement center. Over time, various dynamic economic factors relied upon as a basis for this article may change.

The information contained herein may not be suitable for your situation. This service is not affiliated with OPM or any federal entity. You should consult a financial, medical, or human resource professional where appropriate. Neither the publisher nor the author shall be liable for any loss or other commercial damages, including but not limited to special, incidental, consequential, or other damages.

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Posted in BENEFITS / INSURANCE, FINANCE / TIP, RETIREMENT CONCERNS, SOCIAL SECURITY / MEDICARE, SURVIVOR INFORMATION, WELLNESS / HEALTH

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Posted on Thursday, 21st August 2025 by

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Thanks to a kind and skilled pharmacy technician, my prescription costs for Asmanex decreased from $135 a month to $39! This is a welcome reprieve from one of the medications I take. Asmanex is the only asthma inhaler I can use without significant side effects. GEHA didn’t cover it in the past, and I purchased it using my GoodRx card.

This pharmacy technician asked me why I wasn’t purchasing it through my health care provider and offered to look it up. After a few minutes, I received the good news. How we do things becomes the norm, and we stay the course. It pays to ask questions, and the reward is often lower costs or better services.

Questioning Everything

Today, we have the world at our fingertips, unlike in decades past, when our only sources for more information were encyclopedias, the library’s index card system, magazines, or from the horse’s mouth. The newer generations don’t even know what an encyclopedia is, and when it comes to the horse’s mouth, that is for another conversation.

I can tell you from first-hand experience that the 18-volume abbreviated encyclopedia set I sold door to door in my youth weighed over a hundred pounds. I carried it from one presentation to another, and at the end of the day, my arms felt like they would fall off. I also sold West Bend stainless steel cookware sets in the 1960s, which weighed about the same.

The encyclopedia sets were out of date shortly after they were purchased. Things changed quickly, even back in the 1960s. Annual updates kept the money rolling in for these companies.

Download Our Free Federal Employees’ Leave Tracking Spreadsheet

Ask and You Shall Receive

Siri, Alexa, Google AI, YouTube, and many other services make life much easier. In a pinch, I call on Siri and Alexa to answer many questions on the spot, such as how old so-and-so is! When playing Scrabble, I need to know if a word that our mischievous grandkids want to use is legitimate.

YouTube makes assembling and disassembling many things so much easier, and their cooking videos have saved the day and expanded our diet many times over. Who did we ask growing up about these things? Mostly our parents, siblings, work associates, and friends. The last resort was the local library, where I spent a lot of time in my youth.

Discounts for the Asking

Many companies offer discounts for various groups if you ask. Boscov’s, a department store franchise in our area, provides a 15% discount to veterans who sign up for their loyalty program. Lowe’s and Home Depot offer a 10% military discount, as do many other retailers.

Even Kentucky Fried Chicken offers a 10% senior discount in our area. McDonald’s senior discounts for a small coffee are around $0.90; this can vary by location, and some places may offer even cheaper or free coffee for seniors. You have to ask for a senior’s coffee!

The only way to find out is to ask, and many are hesitant to do so. I always ask contractors and vendors if they offer senior or veteran discounts, and you will be pleasantly surprised at how many do offer discounts.

Ask and You May Not Receive!

Most people want a short and sweet answer, but I’ve always had a penchant for creating Gantt charts and providing details to make sense of it all. Many people just read a few paragraphs, if that, and then file away what they received, hopefully not in the trash bin.

In one case, I was directed to eliminate a shift at my duty station. I provided a lengthy, detailed proposal to management outlining the actions needed to accomplish the assigned task. In the last paragraph, I requested their approval to proceed—the change required coordination with the regional office’s LMR staff.

Months later, I was accused of disobeying an order! I asked the manager for the proposal I sent, pointing out the last paragraph where I requested their approval before proceeding. I had asked if they had read the proposal several times over the past few months, and each time I was advised it was on their desk; they never got back to me.

The moral of this story is to read what is sent to you, and for senders to note up front that input is needed before proceeding. A win-win for everyone.

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The Possibilities

In school, I didn’t hesitate to ask questions in class, much to my classmates’ displeasure. They wanted to move on to another subject, where I was focused on comprehending what was presented.

John Hawkins stated, “Sometimes we get so caught up in appearing smart that we become afraid to ask the question that will make us smart.”

By posing questions, we create an environment where it’s okay to think about what is happening, explore better ways to do things, and possibly get a better deal, and challenge the way we’ve always done it.

I often negotiate for better terms or lower costs, both in my business and personal life. Questions bring clarity and often with benefits such as lower costs or enhanced services.

Helpful Retirement Planning Tools

Disclaimer: The information provided may not cover all aspects of unique or special circumstances.  Federal regulations, medical procedures, investment information, and benefit details are subject to change. To ensure the accuracy of this information, contact relevant parties for assistance, including OPM’s retirement center. Over time, various dynamic economic factors relied upon as a basis for this article may change.

The information contained herein may not be suitable for your situation. This service is not affiliated with OPM or any federal entity. You should consult a financial, medical, or human resource professional where appropriate. Neither the publisher nor the author shall be liable for any loss or other commercial damages, including but not limited to special, incidental, consequential, or other damages.

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Posted in ANNUITIES / ELIGIBILITY, BENEFITS / INSURANCE, ESTATE PLANNING, FINANCE / TIP, RETIREMENT CONCERNS, SOCIAL SECURITY / MEDICARE, SURVIVOR INFORMATION

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Posted on Thursday, 14th August 2025 by

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I retired in 2005 at age 55, almost 21 years ago! I wouldn’t have retired if I didn’t have 35+ years of service at the time and an avocation, my business to fall back on after leaving government service.

My federal employees’ retirement planning site helps me connect with thousands of retirees who are genuinely making retirement work for them and their families. Many travel extensively. Tom and Marlee, a couple in their 80s, have gone on 30+ cruises to date and have more scheduled. Many volunteer their time at church and various organizations to make a difference in their community.

 


Foot Loose and Fancy Free
Retirement at it’s Best

Ready, Set, Go

Shortly after retiring, one of my co-workers sold his home, stored his furniture, and he and his wife traveled throughout America in a motor home for two years before settling down.

Earl, an expert system specialist I worked with for many years, would often tour America on his vacations, traveling as far away as Alaska on his Harley with friends. He and his wife purchased a condo in Florida and moved there after retirement. Earl meets a group of retirees at a local gym to work out during the week, which keeps him and his friends not only engaged but healthy.

Phil planned to retire early and devote his time to outdoor activities. Unfortunately, health issues got in the way, and he wasn’t able to fulfill his dreams.

The key to a successful retirement is planning for and knowing upfront what you intend to do before leaving, as well as ensuring you are financially and physically prepared for retirement’s challenges. Take time to plan your exit and use our retirement planning site to help you through the process. Begin with our updated complimentary reports and Retirement Guide, listed below, to get started in the right direction.

What’s on Your Agenda?

Many expand their hobbies by joining associations, traveling to conventions, building workshops, and growing their collections. Carl, one of the individuals I worked with for many years, is now a master woodworker, creating beautiful furniture and turning pieces of wood into works of art. He also has a classic car that he and his family cherish.

Retirees often devote more time to their families, church, and charities, while others pursue a wide range of hobbies, including gardening, classic cars, cooking, sports, and collecting everything imaginable. Anything other than work for this group, and I can understand that.

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The Flip Side

Contractors often seek out federal retirees to return to work, frequently performing similar functions. Steve and Tom retired from the FAA and subsequently were hired by contractors, performing various tasks at facilities they previously worked with before retirement and at other locations around the country. They enjoyed working part-time and supplementing their annuities.

Many plan to grow a small business or non-profit. Randy started an engraving business and specializes in unusual and unique gifts for retirees and others. He had a side business while still in government that provided the foundation for his larger full-time business in retirement.

Chuck had several businesses, including designing and manufacturing custom golf clubs, and he became a golfing instructor at a local country club in northeastern Pennsylvania—a dream job for golfing enthusiasts.

I’ve been working non-stop since my early teens, over 60 years of continuous, uninterrupted work. I still enjoy the challenge of getting up each morning and going to work in my study after making coffee and toast for my wife and me.

When I retired, I expanded my part-time publishing business to full-time, which I started in 1985. I’ve sold off two-thirds of my business since 2009 to slow down a bit and explore other interests, plus our family and three grandchildren keep us on our toes.

ICE is Hiring 10,000 New Agents, Retired Annuitants Encouraged to Apply

Choices to Make

Long before submitting your retirement paperwork, sit down with your significant other to set your retirement agenda. You can’t do this on your own; your actions, whatever they are, impact your entire family.

Take the first step and don’t give up when things don’t go your way. Shake it off and start over to refine your plans and put things in motion. Others focus on their investments, expanding their knowledge to grow their retirement nest egg and estate for their heirs.

So many choices, and it’s all up to what YOU want to do for essentially the rest of your life. Abundant opportunities and experiences are awaiting you if you have the courage, desire, and tenacity to seek them out.

Words of Wisdom

I was thinking recently about how children in the 1950s and 60s were raised compared to today, and this came to mind; I had to write it down. Of course, there are exceptions with every generation; this is just a general observation.

“When you give someone everything, they expect more and appreciate little. When you provide them with the essentials, with limitations, they appreciate everything they receive and work hard to acquire more.”

Helpful Retirement Planning Tools

Disclaimer: The information provided may not cover all aspects of unique or special circumstances.  Federal regulations, medical procedures, investment information, and benefit details are subject to change. To ensure the accuracy of this information, contact relevant parties for assistance, including OPM’s retirement center. Over time, various dynamic economic factors relied upon as a basis for this article may change.

The information contained herein may not be suitable for your situation. This service is not affiliated with OPM or any federal entity. You should consult a financial, medical, or human resource professional where appropriate. Neither the publisher nor the author shall be liable for any loss or other commercial damages, including but not limited to special, incidental, consequential, or other damages.

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Posted in ANNUITIES / ELIGIBILITY, BENEFITS / INSURANCE, ESTATE PLANNING, LIFESTYLE / TRAVEL, RETIREMENT CONCERNS, SOCIAL SECURITY / MEDICARE, SURVIVOR INFORMATION

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Posted on Thursday, 7th August 2025 by

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Each year, we publish a comprehensive leave record that federal employees can use to track their annual and sick leave, comp, and credit hours used. Our updated 2026 Excel Leave Chart is designed for active federal employees who are planning their retirement and need to establish realistic target retirement dates. This spreadsheet also helps federal employees maximize their annuity through prudent management of their leave balances.

This leave record tracks all leave balances, and you can annotate your work schedule on the spreadsheet. Download the spreadsheet to your desktop for easy availability and please share it with everyone in your agency.

2026 Leave Record, and Schedule Tracker

 

  ICE is Hiring 10,000 Agents, Many with Signing Bonuses
(Annuitants Encouraged to Apply)

 Retire With More

Most employees approaching retirement plan to increase their annuity and lump sum payments by maximizing their annual leave buy-back and sick leave balances. Convert your unused sick leave to increase your annuity for the rest of your life! Well worth the effort. I sold back a full year of sick leave, 2087 hours, that added an additional year of service for my annuity calculation.

A federal employee who separates from the Federal service is entitled to payment, in a lump sum, for all unused annual leave accrued through the last whole pay period before separation.

Federal employees are allowed to carry over up to 240 hours of annual leave each year. Many, in the last year of work, apply their carryover balance to most, if not all, of the annual leave they accrue before retiring.

I sold back the full 240 hours of carryover leave plus the 208 hours I accrued in my last year of employment. This amounted to almost three months of pay, less taxes owed, that I received in a lump sum payment 6 weeks after retiring.  Review my retirement timeline to get an idea of what to expect the first three months after retiring.

The 2026 Leave Record Chart

Download the 2026 Leave Record Chart

If your spreadsheet opens in protected view, click the “enable editing” button in the yellow bar at the top of the form. However, if you don’t see the enable editing button, you may have an older version of Excel, or your IT department may have to allow the form to pass without restrictions. We also included a newer slsx workbook version that you can use if you have problems with the earlier version.

According to a Microsoft Office consulting firm, if the spreadsheet only opens in protected view status and the newer slsx version doesn’t correct the problem, talk with your IT staff. Some agencies increase their security settings to lock out certain documents based on set parameters. We include several hyperlinks in our spreadsheet to link users to additional supporting information, such as our sick leave conversion chart, and that may be the cause.

2026 holidays

*This holiday is designated as “Washington’s Birthday” as defined by the law.

**If a holiday falls on a Saturday, for most Federal employees, the preceding Friday will be treated as a holiday for pay and leave purposes. If a holiday falls on a Sunday, for most Federal employees, the following Monday will be treated as a holiday for pay and leave purposes.

Summary

The earlier you start preparing for retirement, the better. Set several retirement target dates, request annuity estimates from your HR department for selected dates, and review your annual and sick leave balances to maximize your annuity and leave buy-back amount.

Use our FREE online Retirement Planning Guide to help you through the process. One of our site visitors said, “I spent 3 hours on the web looking for answers to questions concerning federal retirement. After a Google search yielded your address, it took only 20 minutes to find all of my answers! Thank you!!!”

Take advantage of this free service to explore your benefits, estimate pre- and post-retirement income, expenses, and costs, and determine whether or not you are financially, physically, and emotionally prepared for retirement.

Helpful Retirement Planning Tools

Disclaimer: The information provided may not cover all aspects of unique or special circumstances.  Federal regulations, medical procedures, investment information, and benefit details are subject to change. To ensure the accuracy of this information, contact relevant parties for assistance, including OPM’s retirement center. Over time, various dynamic economic factors relied upon as a basis for this article may change.

The information contained herein may not be suitable for your situation. This service is not affiliated with OPM or any federal entity. You should consult a financial, medical, or human resource professional where appropriate. Neither the publisher nor the author shall be liable for any loss or other commercial damages, including but not limited to special, incidental, consequential, or other damages.

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Posted in ANNUITIES / ELIGIBILITY, BENEFITS / INSURANCE, ESTATE PLANNING, FINANCE / TIP, RETIREMENT CONCERNS, SURVIVOR INFORMATION

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Posted on Friday, 1st August 2025 by

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Last January, the Federal Reserve kept the fed funds rate steady at the 4.25%-4.5% range, pausing its rate-cutting cycle after three consecutive reductions in 2024. During their July 2025 meeting, they decided to continue the pause in the interest rate-cutting cycle that began in September 2024.

After Chairman Powell’s announcement, the DOW Index dropped over 700 points by the end of the week. Investors were hoping for an interest rate decrease of at least a quarter point.

This rate-cutting pause could hold short-term at least until September. Some economists are anticipating two rate cuts by the end of the year. However, the Federal Reserve board is driven by data, and no one has a crystal ball foretelling the economy’s performance and future job reports.

While the stock market offers the potential for higher gains, it doesn’t come without risks for those approaching retirement and retirees, even as the market has reached new highs several times in July.

 

Treasury Bill Rates Still Attractive

According to the FDIC, the national average yield on savings accounts has dropped to 0.38% APY. However, high-yield savings accounts are offering rates up to 4% or more. It pays to look around for higher yields or consider short-term Treasury Bills.

The average savings account rate would earn just $38 per $10,000 savings for the entire year, and a 4% yield would earn $400 for the year. Quite a difference.

Short-term Treasury Bills are still attractive. You can select auto reinvestments for up to two years, and these can be canceled at any time if the funds are needed. The rates change for each new issue. However, the shorter-term (4, 8, 13, and 17-week) Treasury Bill yields have averaged 4.3 percent over the past year, and the 10-year Notes recently yielded 4.39 percent.

Although the Federal Reserve intends to reduce rates over time as conditions warrant, Treasury Bills continue to earn attractive yields. Treasury interest payments aren’t subject to State taxes, a tax savings for all.

Treasury Bill Investment Rates

Treasury Note Investment Rates

It is generally recommended to purchase Notes and Bonds through your broker, and I personally limit my purchases to new-issue bonds.

Treasury Notes and Bonds must be sold on the secondary market. If you purchased them from Treasury Direct and decide to sell them before maturity, they must be transferred to your brokerage account. This can take several weeks to a month or longer in some cases.

A 20-year Treasury Bond with a 5 percent coupon, yielding 4.9355 percent, was available from the Treasury last week, as noted in the following table. Some buy long-term bonds on the assumption that interest rates will fall later this year or early next year, while locking in a rate just under 5 percent. Rates could go either way depending on various factors; you never know what changes will influence the market.

There is a significant risk to long-term bonds; they are highly rate-sensitive, and bond prices move inversely to interest rates. If bond yields decline, the value of existing bonds on the market increases. If bond yields rise, existing bonds lose value.

The value of a 20-year Treasury bond will change approximately 20% for every 1% change in interest rates. Therefore, a 2% rise in interest rates would cause the bond’s value to fall by roughly 40%, while a 2% decrease would cause the bond’s value to rise by roughly 40%.

This is significant, especially if you will need to tap these funds. However, if you keep the bond to maturity, there is no risk; you will collect the specified yield through the bond’s term, and your entire initial investment will be returned to you after the bond matures. Interest is paid semiannually.

As a 20-year bond approaches its maturity, its remaining term shortens, decreasing its duration. This makes it less sensitive to interest rate moves. For example, a 20-year bond held for 10 years would have a 10-year duration. Consequently, a 1% change in interest rates would result in a 10% change in the bond’s value.

Treasury Bond Investment Rates

Purchasing Treasury Bills, Notes, and Bonds

Visit TreasuryDirect.gov to register, explore the options, and purchase Treasury bills, notes, bonds, TIPS, and savings bonds. You are buying directly from the government and eliminating the middleman; no fees are charged for purchases.

Most brokerage accounts offer clients access to Treasury auctions and will purchase them for your account; they can be sold on the secondary market if needed. Here is more information on the Treasury’s programs:

Note: If you buy a long-term Treasury Note or Bond, you can only sell it on the secondary market through a brokerage house. If you purchase Notes and Bonds on Treasury Direct, you must transfer them to your private brokerage account to sell them before the maturity date. I only purchase long-term Treasuries through my broker in case I need to sell them before maturity.

CDs and Savings Bonds

Many banks and credit unions are offering competitive rates for savings accounts and CDs, from 3.5 percent to higher in many cases. Rates are not falling as quickly as the Fed anticipated, and I’m still rotating savings through short-term T-bills at attractive rates. CDs have no market risk if you stay under their insured FDIC limits.

Treasury Notes currently offer anywhere from 3.75 to 4.25 percent. The shorter the duration of the Note you purchase, the less sensitive it is to interest rate changes. For example, if you purchased a 5-year Treasury Note, a 2% rise in interest rates will cause the Note’s price to fall, while a 2% fall in interest rates will cause the Note’s price to rise.

The price change depends on the Note’s duration, which is approximately 4.5 years for a 5-year note. Generally, a 1% change in interest rates results in a price change of roughly 1% for each year of duration or 4.5% in this example.

Here is What’s in the President’s New Spending Bill

I-Savings Bond Rates

I Bonds issued from May 1, 2025, to October 30, 2025, are earning 3.98%. This includes a 1.1% fixed rate. You can’t cash them in for one year. Plus, if you redeem them within the first five years, you lose three months’ interest.

If the I Bonds that you purchased previously didn’t have a fixed rate, you will only earn the inflation rate when the new rates are announced for the next six months. I Bonds with a high fixed rate are a great buy; some of my early I Bonds have over a 3% fixed rate and are currently earning 5.88%. Here is a table that shows what I Bonds are earning today based on the date of purchase.

Many I-bonds were sold with a zero fixed rate, which can dramatically reduce returns as the inflation rate decreases. For example, I Bonds issued between May and October of 2022 were paying 9.66%. However, they had a 0% fixed rate; those same bonds are now paying 2.86%. They can be cashed in and the funds reinvested in higher-yielding short-term Treasuries or CDs. The Treasury will charge a 3-month interest penalty for any I bond under 5 years old.

On the flip side, when the inflation rate goes negative, like it did in the late 1990s, I-bonds don’t decrease in value.

Market Observations

The stock market has been on a winning streak lately, hitting new highs throughout July. For the most part, we have all seen our TSP, other retirement, and taxable accounts increase in value, sometimes dramatically. The market is like a roller coaster cycling up and down based on political stability, company profits, employment figures, CPI, inflation, and so many other factors, too numerous to mention.

This highlights the necessity for those planning their retirement and retirees to consider more stable fixed-income investments, as outlined above. This is especially true if the stock market is keeping you up at night.  We are elated when the market is up and depressed when it goes down, as evidenced by our most recent monthly account statements.

Summary

The rule of 100 still applies for those approaching retirement. Subtract your age from 100, and the remainder is what many financial planners consider a conservative investment mix to reduce risk as we age. For example, if you are 65, according to this formula, you should have only 35% of your retirement portfolio in stocks, with the rest in bonds, money market accounts, and cash.

I still prefer to invest in the safety of Treasuries, CDs, conservative stocks, mutual funds, and market leaders that have been around for many decades, pay dividends, and have sound fundamentals. Many retirees set aside a small portion of their investments for the more aggressive growth stocks, mutual funds, and ETFs of the day.

CDs and Treasuries are viable options if you can lock up your discretionary savings and investments for a period of time. As noted on the above charts, Treasury Bill have been holding fairly steady this year.

Short-term T-Bills and Bonds continue to provide impressive yields, considering many banks still low-ball their savings rates for established accounts. These banks are betting on the reluctance of many to move funds from their savings and checking accounts elsewhere.

Helpful Retirement Planning Tools

Disclaimer: The information provided may not cover all aspects of unique or special circumstances.  Federal regulations, medical procedures, investment information, and benefit details are subject to change. To ensure the accuracy of this information, contact relevant parties for assistance, including OPM’s retirement center. Over time, various dynamic economic factors relied upon as a basis for this article may change.

The information contained herein may not be suitable for your situation. This service is not affiliated with OPM or any federal entity. You should consult a financial, medical, or human resource professional where appropriate. Neither the publisher nor the author shall be liable for any loss or other commercial damages, including but not limited to special, incidental, consequential, or other damages.

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Posted in BENEFITS / INSURANCE, ESTATE PLANNING, FINANCE / TIP, RETIREMENT CONCERNS, SOCIAL SECURITY / MEDICARE, SURVIVOR INFORMATION

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Posted on Sunday, 27th July 2025 by

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With many taking advantage of deferred resignation, early outs, or simply deciding it’s time to retire, start the military deposit paperwork immediately if you haven’t already done so. There is a free webinar at 7:00 pm on July 31st about savings for retirement that you may wish to take advantage of.

FERS retirees with post-January 1, 1957, military service will not receive credit or annuity computation for their military time without making a deposit. If a deposit is made, the employee will receive credit towards his/her annuity computation.

Under CSRS rules, if you served on active duty and will be eligible at age 62 to collect Social Security, your CSRS annuity will be reduced by the number of years that you served unless you buy back that time.

Options

Federal employees have the option of making military service credit payments for creditable military service before they retire. I bought back my 3-plus years of active-duty military time when I discovered that my CSRS retirement annuity would decrease at age 62 if I didn’t.

All FERS employees and CSRS employees who anticipate having at least 40 quarters or 10 years of work under Social Security at age 62 should consider paying back their military time. Otherwise, your annuity will decrease. In my case, the cost was minimal, $650 total, and I was able to pay $25 a pay until the debt was settled. Deposits for military service from the 1980s and up can be substantial because military pay increased dramatically.

The earlier you initiate the payback, the less interest penalties you will pay. I suggest buying it back early in your career, even if you are CSRS and aren’t sure you will be able to collect Social Security. You can always have the payment refunded before you retire if you are certain that you won’t have the 40 quarters necessary to collect Social Security. My military pay was meager, $97 a month, in 1969 when I was in the Air Force.

Confusion Abounds

There is considerable confusion about whether it is worthwhile to recoup your military time. If you make a military deposit, there is no effect on your other military benefits, such as medical benefits, base access, commissary, or VA benefits, including any disability payments from the VA. Visit our Military Credit section for complete information on this subject.

It only affects (active duty) retired military pay; you cannot receive 2 separate retirements (military and civilian) for the exact same period of service. If you are retired from active duty and elect to buy back your 20+ years of military service, your military retirement will cease once you begin collecting your federal civil service annuity. Reserve or National Guard members under Title 32 can collect both a federal civil service retirement and a Reserve or National Guard retirement.

Helpful Retirement Planning Tools

Disclaimer: The information provided may not cover all aspects of unique or special circumstances.  Federal regulations, medical procedures, investment information, and benefit details are subject to change. To ensure the accuracy of this information, contact relevant parties for assistance, including OPM’s retirement center. Over time, various dynamic economic factors relied upon as a basis for this article may change.

The information contained herein may not be suitable for your situation. This service is not affiliated with OPM or any federal entity. You should consult a financial, medical, or human resource professional where appropriate. Neither the publisher nor the author shall be liable for any loss or other commercial damages, including but not limited to special, incidental, consequential, or other damages.

Posted in ANNUITIES / ELIGIBILITY, BENEFITS / INSURANCE, ESTATE PLANNING, FINANCE / TIP, RETIREMENT CONCERNS, SOCIAL SECURITY / MEDICARE

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Posted on Thursday, 24th July 2025 by

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Kiplinger Retirement Newsletter’s recent article, “How to Tell Your Own Life Story,” was on the mark. They say, “There is one vulnerable asset we tend to overlook: Our stories.” This is so true, and it was a driving force behind my decision to write and publish my memoir, “The Early Years, A Road Less Traveled, in 2020.

Book Cover for Memoir

This is not a self-promotion for my memoir, which is out of print. Actually, I gave away most of the copies. I wrote it for family, friends, and those who have followed my columns, blogs, and websites for decades.

I wanted my children and grandchildren to know how their ancestors lived and struggled to make ends meet, nurture, and raise a family during austere times. A personal family history that family members can cherish and pass on long after I’m gone. Hmm, where am I going?

Today’s generation and our children were raised in a completely different manner from how my wife, Mary, and I were raised in the 1950s and 1960s. What most people take for granted today were profound and unimaginable luxuries during my childhood.

Regrets – I have a Few

I can’t tell you how many times I regret not asking my mother, aunts, and uncles about their early lives. Just sitting down with them and having a frank discussion about their recollections would have been revealing. New generations need to hear about how different and difficult everything was for many of those who came before them.

Simple things – I loved my mother’s macaroni and cheese, and I don’t have her recipe. It didn’t have the consistency of today’s offerings; it had a burnt cheese crust that we fought over at dinner time. I’ve tried to replicate it several times without success. Fortunately, I have snippets of my family’s history that I included in my memoir.

I knew little about my mother’s early years; her parents had 10 children. They made ends meet, all they could do on a coal miner’s salary in those days. It could also be due to the fact that she, along with her brothers and sisters, never had much of a childhood at all.

My mother and most of her siblings were forced to drop out of school after the 6th grade and were sent to work throughout the Pittsburgh area. My mother worked as a maid for $2 a week, which included room and board. She was just 13 years old! Her father collected all but 25 cents of her weekly salary!

Here is What’s in the President’s New Spending Bill

Your Story

James Hagerty, the author of Kiplinger’s article, says, “Your story may be the best gift to your friends and family, and it’s a gift only you can give.” Yes, others know bits and pieces of your story, but even those recollections are often diminished by time and circumstance. You are the key to presenting the story firsthand without others’ interpretations.

Tom, a friend I worked with for many years, relayed stories of growing up in Swissvale in the 1960s. I lived just down the street in Wilkinsburg, PA. We would often swap tales of our misadventures, and Tom would talk about his escapades with his cousins, family, and friends, which I always found interesting. These adventures and our early memories are the foundation for starting a memoir or whatever you want to call it.

I wonder if Tom’s family knows about the huge model boat he discovered in the wall of a condemned building and what he did with it, or many of the other youthful antics. Probably not, but they would find them amusing.

On the Mark, Get Set, Go!

The hardest part of any endeavor is getting started; once you commit, a routine emerges, and things start to fall into place. My first step was to write the Preface, which essentially summarizes what the book is about from a personal perspective with succinct observations. An excerpt from my Preface follows. Can you envision where I was going with my memoir?

“Life in the mid-twentieth century was all one could imagine of that time, a Forrest Gump world running at a snail’s pace. The only cell phone we encountered was in the comic strips when Dick Tracy was all the rage. Computers were relegated to large research facilities, filling huge rooms with vacuum-tube equipment racks that emitted ambient light and illuminated the room’s interior.

Airplanes were becoming increasingly popular after World War II, but most still relied on trains and trolleys to get where they needed to go. The middle class bought cars and homes at a feverish pace, yet most could only dream about living the “life of Riley,” an expression coined from an early 1950s TV sitcom. We watched Father Knows Best, The Donna Reed Show, and others that represented the ideal traditional family, infusing our dreams with visions of a stable, satisfying life surrounded by family and friends.”

Towards the end of the Preface, I go on to state, “This is my story, a collection of recollections from a life filled with high expectations, daunting challenges, and a large dose of reality, experienced in a multitude of environments and circumstances. All of which helped me become who I am today. It’s a story of our family’s early trials, tribulations, and successes all rolled into one.”

A Preface sets the tone of the book; without it, it’s equivalent to traveling across the country without a map or GPS. I included the complete Preface, Dedication page, and Chapter One for all to read on my site.

As a courtesy to my dedicated followers, I’ll post a PDF file on my site each week with another chapter of my memoir. You can now read Chapter Two online. The chapter will be available for only one week, after which another chapter will be posted.

Your Story Outline

The next step is to develop a story outline that highlights the times in your life or events you wish to share with family and friends. I began with my mother and father’s early lives, including how they met, and provided a brief overview of their families. Then, I focused on each stage of my life, to age 35 and beyond.

Your story can focus on anything you wish to share with others, or on a specific event in your life. Jack Myrtha, a member of my parish, wrote an exceptional memoir calledThe Hunny Bunny: A Young Girl’s Life with a Congenital Heart Defect,” which is both tragic and beautiful. A heart-wrenching journey about his beautiful daughter Katie’s short life and the trials and tribulations they encountered through her life’s journey.

John and Krista Myrtha were staunch patient advocates for their daughter, questioning caregivers and researching her affliction to ensure their daughter received the best treatment possible from those who cared for her.

Charles Coulter, the father of good friends of mine, aggressively researched their family history throughout his life. He and other family members developed an extensive family tree, and Charles wrote a book on the subject many years ago that he passed onto to his children. The Coulter brothers have relatives across the country and believe they are related to John Colter, the famous western explorer, that was on the Lewis and Clark expedition.

What Story Will You Tell?

I wrote my memoir because my early childhood made me stronger, teaching me to appreciate what we have, spend with care, focus on the family, and save for a rainy day. Hopefully, it will help our children and grandchildren appreciate what they have and the support they received in life.

Many today still struggle to make ends meet and put food on the table, a situation I recall well from my youth. It doesn’t matter where you came from, whether you’re rich or poor; everyone has interesting and inspirational stories to share with others, what they did, and how they got to where they are today. Hopefully, with helpful suggestions and perspectives for those who will follow us in this life. The who, what, where, and why of our existence.

What do you want your family and descendants to know about your life? No matter what it is —a biographical sketch or a major event —once written, you will discover immense satisfaction from the effort, and your family will appreciate having your memories preserved and passed on to future generations.

The Long and Short of It

You don’t have to write a formal book; you can if you wish, and there are many companies that will help you compile your work if needed. It can be a handwritten journal, a file on your computer, or printed out using Microsoft Word or any other word processor. You can even package a photo journal at Walmart or other stores.

Bob and Gary Coulter, traveled cross-country from Pittsburgh, PA, to California and back twice over the past three years on Harley motorcycles. By the way, one of the two was 80 years old at the time! Bob’s daughter used their pictures to compose a beautiful travel journal at Walmart for her dad and uncle. A treasured keepsake that the entire family and friends enjoyed.

Gary & Bob Coulter’s Cross-Country Trip

Don’t be concerned about your writing style, grammar, or spelling; software programs will help you through all of that and much more. Once started, you will be drawn into the work and think of little else until it’s finished.

The beauty of writing a memoir is that no standard format applies; make it whatever works for you. Most of the memoirs I’ve read had few pictures; I used 144 photographs in my book, each accompanied by captions, and included a family history that I compiled over the years.

Pictures add a personal experience, such as my son’s first haircut, prom and wedding pictures, family gatherings, and so much more. Pictures can be lost, but a book is an archive of your life’s experiences and can be passed on for generations.

Don’t procrastinate; time passes, and your initial interest may fade along with your memories.  My memoir was on my bucket list for over a decade, and of the 28 books I’ve written, it was by far the most enjoyable project I’ve ever worked on. Two years well spent. Our time on this earth is finite, and at 76, I’m acutely aware of life’s limitations, which my body reminds me of daily.

As a final note, I was unable to provide a link to the Kiplinger article because it is only available to Kiplinger Retirement Report subscribers.

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Disclaimer: The information provided may not cover all aspects of unique or special circumstances.  Federal regulations, medical procedures, investment, and benefit information are subject to change. To ensure the accuracy of this information, contact relevant parties for assistance, including OPM’s retirement center.

Over time, various dynamic economic factors relied upon as a basis for this article may change. The information contained herein should not be considered investment advice and may not be suitable for your situation. This service is not affiliated with OPM or any federal entity. You should consult a financial, medical, or human resource professional where appropriate. Neither the publisher nor the author shall be liable for any loss or other commercial damages, including but not limited to special, incidental, consequential, or other damages.

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Posted in ESTATE PLANNING, LIFESTYLE / TRAVEL, RETIREMENT CONCERNS, SURVIVOR INFORMATION

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Posted on Thursday, 17th July 2025 by

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Please forward this to others needing retirement planning assistance.

Many federal employees are actively considering retirement today due to early, regular, and deferred options that are now or soon will be available as downsizing initiatives continue throughout the federal sector.

The reconciliation bill includes funding for the major reorganizations, reductions in Force (RIF), and relocations that will result from shedding 10 percent or more of the total federal civilian workforce. Now more than ever, those affected are seeking guidance on how to proceed and protect the benefits that have accrued during their careers.

Finding Your Way

Those planning their retirement and annuitants require accessible resources tailored to their specific situation.

It’s often frustrating and challenging to find competent help. There are many variables to what initially might seem like an obvious resolution; it makes sense to seek out clarifications. There are limits to what OPM can provide.

Retirement planning is, in itself, a complex process with numerous avenues to explore. Fortunately, help is available; what service you require depends on the complexity of the issues and the level of assistance you personally need. Please forward this to others needing retirement planning assistance.

LEVELS OF ASSISTANCE

  • General Assistance
  • Comprehensive Guidance
  • One-on-One Counseling / Assistance

GENERAL ASSISTANCE

Retirement Planning Seminars

Contact your HR department to sign up for a retirement planning seminar. They cover FERS and CSRS employees (including Special provisions) and may be offered in Full or Half-day sessions. The information is generally divided into seven key areas:

  • CSRS or FERS retirement annuity
  • Thrift Savings Plan (TSP)
  • Voluntary Contribution Plan (VCP) – CSRS and CSRS Offsets only
  • Federal Employees Group Life Insurance (FEGLI)
  • Social Security
  • Federal Employees Health Benefits (FEHB)
  • Federal Employees Dental and Vision Insurance Program (FEDVIP) and disability programs

OPM

The Office of Personnel Management (OPM) serves as the HR department for the federal government, administering the retirement benefits program. Active federal employees can research various aspects of retirement on OPM’s site. However, federal employees must contact their agency’s HR office to initiate the process. OPM has helpful retirement planning tools and guides that all should review and use when exploring their options:

OPM services the federal retirement community. If you are an annuitant (retiree), call or use their online services portal to obtain current benefit information, related documents, and payment statements online if registered for their service.

It’s not easy getting through to them by phone, and when you do, expect long wait times. OPM is the only entity that can effect desired changes or update your records.

Federal employees with retirement questions should contact their HR department; OPM only services annuitants and survivors. Your HR department will explain your benefit options and arrange for you to attend a retirement seminar.

COMPREHENSIVE GUIDANCE

Federal Employee’s Retirement Planning Guide (www.federalretirement.net)

I launched this site in 2004 when I was planning my retirement. It is designed to help federal employees and retirees find the information they need to make informed decisions about their benefits and retirement.

A site visitor commented, “I spent 3 hours on the web looking for answers to questions concerning federal retirement. After a Google search yielded your address, it took only 20 minutes to find all the answers I needed. Thank you!!!”

How to Find Essential Retirement and Benefits Information on This Site

Abundant retirement planning guidance is compiled from a multitude of federal agencies: OPM, Social Security, Medicare, TSP, the Department of Labor, and others. Use the main menus and search box at the top of each page to find benefit clarifications, financial planning guidance, FERS / CSRS eligibility determination, annuity estimates, and suggestions that you won’t find elsewhere. The related blog and weekly email newsletter offer advice on current topics of interest.

Federal Employee’s Retirement Planning Software (https://fedretiresoftware.com/)

This easy-to-use and reasonably priced software is uniquely designed for federal employees (full-time, regular CSRS and FERS) to calculate their federal benefits, from start to finish, throughout retirement. You can also add income and/or expenses from other sources.

This calculator is used by tens of thousands of federal employees as well as Federal HR departments to make informed retirement planning decisions. Check out their Sample Report to get a better understanding of how comprehensive their calculator is for federal employees planning their exit.

ONE-ON-ONE COUNSELING / ASSISTANCE

Often, individuals require expert assistance to address complex issues and make informed decisions about what is best for their situation. A professional federal benefits consultant can address your concerns and answer any questions that you may have.

Here is a list of those you can contact to help you address your concerns when the research you’ve done hasn’t provided an answer.

Pensioned Americans Retirement Company (PARCO)

This easy-to-use, free platform enables all Federal Employees (FERS, CSRS, Special FERS, and FSPS) to view all their benefits and optimize their federal retirement. PARCO’s Platform is what I wish existed when I was planning for retirement, and it is used by thousands of FERS and CSRS employees across the country and around the world.

Their team comprises the best federal fiduciary retirement experts who will help you maximize your pension and the benefits that accompany retirement. Their platform guides you through the process step by step.

Federal employees complete their online profile, and PARCO evaluates where you are and what you may need to do to achieve your retirement goals. They put you in touch with specialists who can address your concerns and recommend a personalized path to keep you on track.

 

Retire Federal

This consulting firm is owned by Tammy Flanagan, a federal benefits expert who has been assisting feds since her days of employment with the Federal Bureau of Investigation. She and her staff of experienced counselors offer invaluable fee-for-service personal consulting for civilian federal employees and annuitants, covering pre-retirement preparation to post-retirement decisions and events.

Their staff will assist you with a thorough review of your pre-retirement tasks and help you determine whether to enroll in Medicare Part B and which FEHB plan will best coordinate with your situation. They can address your concerns, answer questions, recommend options, provide details as to why one path is preferred over another, and put your mind at ease.

Consultant – Divorce Related Issues for Federal Employees

Ann Ozuna is a retired Personnel Management Specialist.  She founded Personnel Solutions Federal Benefits Counseling upon retirement from federal service in 1996. In addition to her 25-year federal personnel career, she holds an MBA from Gonzaga University and the Senior Professional in Human Resources (SPHR) and Chartered Federal Employee Benefits Consultant (ChFEBC) designations. She provides consulting services for federal employees facing divorce and attorneys working with federal clients.

If you need answers to retirement questions or don’t know what options are best for you and your family, use the resources listed above or other reputable services.

Helpful Retirement Planning Tools

Join other federal workers on the FedWork Network.
Sign up for this Free Service to get started.

Disclaimer: The information provided may not cover all aspects of unique or special circumstances.  Federal regulations, medical procedures, investment, and benefit information are subject to change. To ensure the accuracy of this information, contact relevant parties for assistance, including OPM’s retirement center.

Over time, various dynamic economic factors relied upon as a basis for this article may change. The information contained herein should not be considered investment advice and may not be suitable for your situation. This service is not affiliated with OPM or any federal entity. You should consult a financial, medical, or human resource professional where appropriate. Neither the publisher nor the author shall be liable for any loss or other commercial damages, including but not limited to special, incidental, consequential, or other damages.

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Posted in ANNUITIES / ELIGIBILITY, BENEFITS / INSURANCE, ESTATE PLANNING, FINANCE / TIP, RETIREMENT CONCERNS, SOCIAL SECURITY / MEDICARE, SURVIVOR INFORMATION

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