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Considering Your Options – Should You Stay the Course?

Posted on Friday, 2nd February 2024 by Dennis Damp

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A Federal Employee’s Dilemma Is the grass greener on the other side? Humm, maybe, depending on the circumstances, yes and no!  If you’re referring to Ireland, yes, their grass is literally greener than most. When it comes to a career change proceed with caution, especially when considering federal employment’s exceptional pay and benefits. In my […]

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Tax Forms Availability and Annuity Statements

Posted on Friday, 26th January 2024 by Dennis Damp

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The Social Security Administration was the first to send out forms again this year.  Our 1099 R Tax Forms typically aren’t available until the end of January to early February by regular mail. Registered users of OPM’s Retirement Services Website can download their Annuity Statement and 1099 R forms now. 1099 Forms I received my […]

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TSP RMDs & Withdrawals Plus Site Navigation Tips

Posted on Friday, 19th January 2024 by Dennis Damp

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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 […]

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Preparing for the New Year – 2024 Updates

Posted on Friday, 5th January 2024 by Dennis Damp

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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 […]

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T-Bills, Savings Bonds, and CD Investments in the Spot Light

Posted on Friday, 8th December 2023 by Dennis Damp

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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 […]

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2024 COLA Increase is 3.2% & Medicare New Part B & D Premiums

Posted on Friday, 13th October 2023 by Dennis Damp

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More than 71 million Americans will see a 3.2% increase in their Social Security benefits and Supplemental Security Income (SSI) payments in 2024. Social Security retirement benefits will increase on average more than $50 per month starting in January. Federal retiree’s annuities under the Civil Service Retirement System (CSRS) receive the full 3.2% increase while […]

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Finding the Help You Deserve – OPM’s Retirement Center

Posted on Friday, 22nd September 2023 by Dennis Damp

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Good news for those planning their retirement and annuitants. OPM’s retirement center has improved considerably over the past few years. When I retired 18 years ago, their online support was a shadow of what it is today, this is why I developed and published the Federal Employee’s Retirement Planning website in 2004. When I was […]

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2024 COLA Projections and Fixed Income Updates

Posted on Friday, 15th September 2023 by Dennis Damp

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According to Wilbert J Morell III, a retired Navy Engineering Project manager, “based on the September economic outlook, the CPI-W is expected to increase above 0.6%, Wilbert predicts the Social Security & CSRS COLA will be 3.4% and the FERS COLA 2.4%.” The estimates increased about a half of a percent since our first article […]

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