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1099R Statements, Replacement Copies, & Upcoming Changes

Posted on Friday, 8th February 2013 by Dennis Damp

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My 1099R arrived from OPM this week and annuitants should have also received their Notice of Annuity Adjustments, Form R1 20-53 (REV. 12/12), that outlines your new 2013 status and payments. The annuity adjustment statement includes the 1.7% COLA increase and lists any changes to your insurance and elective payments. Each year we receive many […]

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IRA CONTRIBUTION LIMITS RISE FOR 2013

Posted on Friday, 1st February 2013 by Paul Risser

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Save a little more for retirement.  Presented by Paul H. Risser Time to boost your IRA balance. In 2013, you can contribute up to $5,500 to your Roth or traditional IRA. If you will be 50 or older by the end of 2013, your contribution limit is actually $6,500 this year thanks to the IRS’s […]

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TSP ROTH Conversions, Benefits, & Limitations

Posted on Saturday, 5th January 2013 by Dennis Damp

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There is considerable confusion on what federal employees and retirees can do to convert all or a part of their TSP funds to a TSP ROTH.  There are limitations and unfortunately you can’t convert any of your current TSP funds to a ROTH within the TSP program. There are only 2 ways to get ROTH […]

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Open Season Tips, Direct Deposit Changes, & Retiree Job Opportunities

Posted on Wednesday, 14th November 2012 by Dennis Damp

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It’s that time of year again and we all know that our health care premiums, in most cases, will be going up. The (FEHB) Program premiums will increase by 3.4 percent in 2013, which is lower than last year’s increase of 3.8 percent.  The average premium increase for the Federal Employees Dental and Vision Insurance […]

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Size Matters, Especially in Retirement

Posted on Thursday, 25th October 2012 by Dennis Damp

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Retirees are getting hit from all directions with hidden taxes, reduced purchasing power, increased healthcare, gas, food, and necessity costs. The size of our annuities, savings accounts and investments are shrinking due to a dramatically increased money supply when we truly need them to maintain our standard of living. Retirees often depend on interest from […]

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Retirement Application Changes, Pay Freeze & COLA Update, and FERS Employee’s Contribution Increases

Posted on Sunday, 21st October 2012 by Dennis Damp

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OPM revised and updated several FERS and CSRS retirement application forms in 2012. Before submitting your application check your form’s date to ensure you have the updated version. (Forward this email to others in your organization to give them a heads up about this.) You can download the updated forms online at http://federalretirement.net/retireforms.htm.  The forms […]

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2013 COLA and Retirement Application Submission Clarification

Posted on Friday, 28th September 2012 by Dennis Damp

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Recently, the Congressional Budget Office has suggested that a 1.3 percent cost-of-living adjustment is pending for Dec. 1 that includes military, civilian, retired pay, and Social Security recipients. There was talk of an increase of as high as 1.9%. We will see the increase in our January annuity check. Today, 1.3% doesn’t look that bad […]

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How to Receive Social Security Benefit Statements

Posted on Friday, 21st September 2012 by Dennis Damp

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Social Security resumed mailing annual statements to all who are 60 or older and I received mine several months ago.  They also started sending a statement to workers when they first turn 25 to give them an idea of what their retirement benefits will be down the road.  For all of those in between you […]

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