BENEFITS / INSURANCE | Federal Employee's Retirement Planning Guide

Death Benefit Delays – Don’t Let This Happen to You (Part 2)

Posted on Friday, 2nd June 2023 by Dennis Damp

Please forward this to others that may find this information helpful. They can sign-up to receive my free Retirement Planning Newsletter. The first part of this article discussed the delays survivors can expect before receiving their first annuity check, electing a survivor’s annuity, survivor’s annuity cost, reporting a death, and submitting the application for death […]

Tags: OPM Death Benefit Processing, Reporting a Death to OPM, Survivor Benefits, Survivor's Annuity
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Death Benefit Delays – Don’t Let This Happen to You (Part 1)

Posted on Friday, 19th May 2023 by Dennis Damp

Please forward this to others that may find this information helpful. They can sign-up to receive my free Retirement Planning Newsletter. Few are prepared for the delays a spouse and heirs will experience after applying for an annuitant’s death benefits. I recently reviewed and updated our estate plans and contacted the Office of Personnel Management […]

Tags: Completing the Application for Death Benefits, Reporting a Death, Survivor Benefits, Survivor's Annuity
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2024 COLA Update and New Beneficiary Designation Form

Posted on Saturday, 15th April 2023 by Dennis Damp

Last year’s 8.7% COLA increase was the highest in over 40 years. Civil Service Retirement System (CSRS) annuitants received the full 8.7% while Federal Employees Retirement System (FERS) annuitants received 7.7%. Next year’s COLA may be disappointingly low even when it seems our costs for just about everything continue to skyrocket. I just returned from […]

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Job Opportunities for Annuitants & Soon to Retire Employees

Posted on Friday, 31st March 2023 by Dennis Damp

The economy continues to heat up. Employers added 311,000 workers in February, a sign that the pace of hiring continues to rise, economists predicted 225,000 new jobs! The Federal Reserve continues to raise interest rates to fight inflation. Their intent is to slow down the economy and raise the unemployment rate that is currently sitting […]

Tags: Federal Annuitants, FERS Retirees, Retiree Jobs, Security Jobs, Writing Jobs
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Big Prescription Drug Benefit Changes in 2024 and Beyond

Posted on Friday, 24th March 2023 by Kevin Moss

It’s a little early to start talking about health care open season. However, major Medicare Part D reforms were enacted in the Inflation Reduction Act of 2022 (IRA) that everyone needs to be aware of. Some of the legislation’s provisions seek to lower prescription drug costs for both Medicare beneficiaries and the federal government. Historically, […]

Tags: MA Plans, Medicare Part D, Prescription Drug Coverage
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Savings Bonds 2.0 – Tax Consequences & Recovering Lost Bonds

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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I and EE Savings Bonds – Safe, Simple, and Affordable

Posted on Friday, 10th March 2023 by Dennis Damp

Savings bonds received a boost in popularity last year due to their inflation indexed I-Bond’s exceptional interest rates, currently 6.89%. Far exceeding what most investments are paying today. Their previous six-month yield was 9.62%! A former associate reviewed savings bond interest rates for his payroll deduction purchases from 2001 to 2007. His 2001 bonds are […]

Tags: EE Bonds, I Bonds, Savings Bond Purchasing Limits, Savings Bonds
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Federal Employee’s Group Life Insurance – FEGLI Considerations

Posted on Friday, 24th February 2023 by Dennis Damp

Forward this to others that may find this information helpful. Sign-up to receive my free Retirement Planning Newsletter. I receive many FEGLI insurance coverage questions throughout the year. Especially from those working on their retirement paperwork and require coverage clarifications. One subscriber recently asked if FEGLI is considered term insurance, if so, does the term […]

Tags: Federal Employee Benefits, FEGLI, Insurance
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