Posted on Sunday, 14th February 2021 by Dennis Damp
Michael is a fulltime employee with the National Parks Service (NPS) that is subject to between 2 weeks and 6 months furlough each year. He wanted to know if the time he is furloughed counts towards his FERS service? For instance, if he is furloughed for 6 months would he have one year or 6 […]
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Posted on Friday, 5th February 2021 by Dennis Damp
The CARES Act allowed us to waive year-2020 required minimum distributions (RMDs) for all TSP participants who would otherwise have been subject to them. This included participants for whom 2020 would have been their first RMD year, even though that distribution would not have been due until April 1, 2021. RMDs have not been waived […]
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| Comments (0)Posted on Friday, 22nd January 2021 by Dennis Damp
The national debt consists of public and intragovernmental debt owed by Uncle Sam. Public debt is what the government owes to bond holders including American citizens, international investors, and foreign governments that buy our bonds. Actually, U.S. citizens own the majority of the national debt! Request a 27 page Federal Retirement Report™ today. A one hour […]
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Posted on Thursday, 14th January 2021 by Dennis Damp
OPM is currently experiencing high call volumes and longer than normal wait times on the Retirement Information Office Toll Free number (888-767-6738). Their highest call volume is on Monday and Tuesday mornings. Request a 27 page Federal Retirement Report™ today. A one hour session with a Certified Financial Planner is incuded. To minimize wait times, […]
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| Comments (0)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 Saturday, 19th December 2020 by Dennis Damp
The year started off with a bang: market up, unemployment the lowest it had been in decades, and hopes were high for the new year. That changed course abruptly when COVID overtook life as we knew it, yet we persevered and are on the road to recovery at years end thanks to the Warp Speed […]
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| Comments (0)Posted on Wednesday, 9th December 2020 by Dennis Damp
John read my article titled “Changes for the 2021 FEHB Open Season – Save Some Serious Money” and asked what my wife’s OPP costs were for the surgeries I mentioned. Many want to know if what our FEHB plans pay is enough to offset and warrant paying Part B premiums? Request a Federal Retirement Report™ to […]
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