Posted on Friday, 17th March 2023 by Dennis Damp
Savings bonds as featured in my article titled, “I and EE Savings Bonds – Safe, Simple, and Affordable” can be used to finance children’s education, supplement future retirement income, or save for a rainy day, all are backed by the full faith and credit of the United States. Many are unaware of the tax-free components […]
Tags: EE Bonds, I Bonds, Lost Savings Bonds, Savings Bonds, Tax Free Interest
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Posted on Friday, 17th February 2023 by Dennis Damp
Forward this to others that may find this information helpful. They can sign-up to receive my free Retirement Planning Newsletter. On December 29, 2022, the Retirement Enhancement (SECURE) 2.0 Act of 2022 was signed into law. This second installation of the 2019 SECURE Act introduces several changes affecting the Thrift Savings Plan. This legislation will directly […]
Tags: Catch-Up Contributions, I Bonds, Secure Act 2.0, TSP, TSP RMDs
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Posted on Friday, 10th February 2023 by Dennis Damp
Forward this to others that may find this information helpful. They can sign-up to receive my free Retirement Planning Newsletter. According to Janet Yellen’s memorandum to congress the U.S. Treasury will be unable to fully invest the portion of the Civil Service Retirement and Disability Fund (CSRDF) not immediately required to pay beneficiaries beginning January 19, […]
Tags: Debt Ceiling, Debt Crisis, Government Spending, TSP Investments
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Posted on Friday, 3rd February 2023 by Dennis Damp
Forward this to others that may find this information helpful. They can sign-up to receive my free Retirement Planning Newsletter. It’s the beginning of a new year! A good time for those planning their retirement to assess where they are financially, and take the necessary steps to secure their future. Federal employees received a significant pay […]
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Posted on Friday, 20th January 2023 by Dennis Damp
Federal annuitants typically receive their updated Annuity Statement, with the COLA increase added, early January. OPM’s 1099 R Tax Forms aren’t available until the end of January by regular mail while my Social Security’s SSA 1099 from was received January 10th! Download Your Forms Now Registered users of OPM’s Retirement Services Website can download their Annual Annuity […]
Tags: 1099 R Forms, Annuity Statements, OID Forms
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Posted on Thursday, 5th January 2023 by Dennis Damp
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 […]
Tags: 1099R, Medicare Part B Premiums, Social Security 1099 Rs, TSP, TSP 1099s
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Posted on Friday, 16th December 2022 by Dennis Damp
Yes Virginia, there is a Santa Clause. This time of year, the Thrift Savings Plan (TSP) sends out participant’s Required Minimum Distributions (RMDs), and in early January our annuity statements will arrive reflecting an 8.7% for CSRS and 7.7% FERS COLA increase. RMDs The first year you are 72 or older and separated from service […]
Tags: 1099R, Annuity Statements, CSRS, FERS, RMDs, TSP
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Posted on Friday, 4th November 2022 by Dennis Damp
Please forward this to other retirees and those planning their retirement. Murielle, one of our newsletter subscribers, suggested we update our Federal Retiree’s Master Contact List. The last update was in 2019; we made a number of changes and additions to enhance its usefulness. You will find key contacts for OPM, Medicare, Social Security, the […]
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