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2022 COLA Projections and Prescription Tip

Posted on Wednesday, 21st April 2021 by Dennis Damp

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We can expect a higher COLA increase for 2022. According to Kiplinger’s Magazine the 2022 COLA will Likely increase to 3%, the largest increase since 2012. The final number will be released this October.  There are many variables in the annual COLA calculation and these can change dramatically before the final numbers are tabulated. Request […]

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Life Goes On – Account Access Instructions

Posted on Saturday, 6th March 2021 by Dennis Damp

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Planning for retirement and life in general requires organization and much thought. Long before we retire our significant others require our assistance and this goes both ways. In most relationships, one person takes responsibility for certain aspects of the couple’s life.  Whoever pays the bills and manages financial affairs must have clear and concise instructions […]

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The State of YOUR Affairs – Exposing the Obvious

Posted on Sunday, 28th February 2021 by Dennis Damp

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I’m often astonished after performing a due diligence update on my family’s state of affairs. You too will find reason to pause after putting pen to paper and discovering where you and your family stand financially. Not only your current status, but what a surviving spouse and heirs will have to live on when the […]

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Creditable Service for Furloughed Employees & Pandemic Assistance

Posted on Sunday, 14th February 2021 by Dennis Damp

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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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Reporting Refunded TSP Distributions (RMDs)

Posted on Friday, 5th February 2021 by Dennis Damp

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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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Unreasonable Expectations – The Debt Crisis

Posted on Friday, 22nd January 2021 by Dennis Damp

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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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Contacting OPM – Delays Reported

Posted on Thursday, 14th January 2021 by Dennis Damp

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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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Notice of Annuity Adjustment, and 1099 R Tax Forms

Posted on Thursday, 7th January 2021 by Dennis Damp

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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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