Posted on Friday, 27th January 2017 by Dennis Damp
OPM issued a “Benefits Administration Letter,” number 16-102, announcing that “effective immediately, we will not accept corrections (scratch-outs, white-outs, line-outs, or any other type of correction actions) in the named Sections on the following forms. New forms must be completed in lieu of any alterations to previously entered information.” A manually corrected retirement application could […]
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| Comments (0)Posted on Wednesday, 18th January 2017 by Dennis Damp
Normally, federal annuitants don’t received their 1099R Tax Forms until the end of January or the beginning of February by regular mail. If you are registered to use OPM’s Retirement Services Website your 1099 R is now available for download. I visited the site on January 18, 2016 and was able to download my copy […]
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| Comments (0)Posted on Saturday, 29th October 2016 by Dennis Damp
Everyone planning their retirement needs to know how much they will have to live on in retirement and how much their annuity and the surviving spouse’s benefit will grow over time. Unlike many private sector retirement plans, our annuities are adjusted annually – most years – with a COLA. I was at a family gathering […]
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Posted on Sunday, 23rd October 2016 by Dennis Damp
WOW! They finally approved a COLA increase. It’s amazing how low they can go, .03 Percent for 2017. If your federal retirement annuity is $2,000 per month, you will see $6 more in your check. The average Social Security increase is $4 a month! The Federal Reserve continues to keep interest rates so low that […]
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Posted on Friday, 14th October 2016 by Dennis Damp
I was fortunately able to get an early start on this year’s FEHB Open Season that runs from November 14 through December 12. Last week’s column discussed the average 4.4% premium increase for 2017 and post card that GEHA sent about changes to my plan. I was able to download the GEHA 2017 plan brochure; […]
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Posted on Wednesday, 7th September 2016 by Dennis Damp
Too often the feedback we receive, either solicited or given freely, at work and home is delivered with little tact and therefore ignored or disputed. I recently read an article in the Tribune Review titled “Constructive Feedback Crucial for Career Progress,” by Chris Posti that provided excellent advice for anyone wishing to advance in their […]
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Posted on Monday, 1st August 2016 by Dennis Damp
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
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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