Posted on Thursday, 7th January 2021 by Dennis Damp
Corrections: I misquoted the 2021 COLA in last week’s article titled “1% Pay Raise Approved for 2021 – GS Pay Charts Available;” it is 1.3% not 1.6% The blog article was corrected. Generally, in late December federal retirees receive a Notice of Annuity Adjustment that provides abundant information for annuitants and their survivors. The mailed statements […]
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| Comments (0)Posted on Friday, 1st January 2021 by Dennis Damp
Those planning to retire soon will benefit somewhat from the small 1% federal employee’s pay raise this year. Primarily, your annual leave buy back will be at the new pay rate starting the first pay period of 2021. If you plan on staying another year or longer the raise will increase your high three average […]
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Posted on Tuesday, 13th October 2020 by Dennis Damp
I reported in mid-September that the 2021 COLA was projected to be anywhere from .44% to as high as 1.2% according to Kiplinger’s. The Social Security Administration announced a 1.3% COLA increase on October 13th for 2020. CSRS and FERS annuitants will receive the full 1.3% this year. View the table of all COLAs from […]
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Posted on Friday, 9th October 2020 by Dennis Damp
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 2021 Excel Leave Chart is designed for active federal employees that are planning their retirement and need to establish realistic target retirement dates. The new Excel 2021 Leave […]
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| Comments (0)Posted on Friday, 18th September 2020 by Dennis Damp
I receive many questions this time of year about the retirement process and required forms. It can take several months for HR to process your papers and send them to the Office of Personnel Management (OPM) for final determination of your claim. Many federal and postal workers elect to retire at end of year because […]
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Posted on Saturday, 22nd August 2020 by Dennis Damp
Estate planning is a sensitive issue and many avoid the subject until it’s too late. This can and will compromise your heir’s benefits, or at least delay them when they will be needed most. It’s never too late to start. It is advisable to compile this information long before it will be needed, and the […]
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Posted on Saturday, 13th June 2020 by Dennis Damp
The CARES Act offers temporary loan and withdrawal options for TSP participants affected by COVID-19. The dramatic stock market sell-off this past March and subsequent correction last week reduced portfolio values dramatically for many. Lower account balances for all but the bond funds make the decision to take out loans or elect a withdrawal difficult. […]
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Posted on Friday, 15th May 2020 by Dennis Damp
Those planning their retirement and annuitants require accessible resources for answers to their individual and unique questions. OPM does a good job managing our retirement system overall. However, there are limits to what they can and will provide. It’s often frustrating and difficult finding competent help and the level of assistance required. There are many […]
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