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FEHB Open Season for 2023 Plans– Higher Costs on the Horizon

Posted on Saturday, 16th July 2022 by Dennis Damp

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The 2022 FEHB Open Season will run from November 14, 2022 through December 12, 2022. Open Season starts every year on the Monday of the second full work week in November and ends on the Monday of the second full work week in December. OPM sent a FEHB Program Carrier Letter to all FEHB providers […]

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TSP Site Access Update & the Mutual Fund Window

Posted on Friday, 1st July 2022 by Dennis Damp

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Retirement account access is critical for those who need to change fund allocations, withdraw funds, add or change beneficiaries, or process other actions such as requesting an RMD. Many Thrift Savings Plan (TSP) account holders encountered major problems when trying to login to the new site. Some spent days working to regain access and were […]

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NEW TSP SITE UP AND RUNNING – Give it a try!

Posted on Friday, 3rd June 2022 by Dennis Damp

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The Thrift Savings Plan (TSP) has updated their site and requires all account holders to establish a new login to regain access to their account. I was able to sign into my new TSP account on Thursday June 2nd without incident. Their updated site is now up and running. However, you may have problems accessing […]

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ALERT – OPM Services Online Access Changes

Posted on Friday, 27th May 2022 by Dennis Damp

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Retirees use OPM Services Online to start, change or stop federal or state income tax withholdings; download 1099-R forms, change your mailing address, start or change direct deposits and view annuity payments. This system is available to those under the Civil Service Retirement System (CSRS), Federal Employees Retirement System (FERS), FERS Special, or the Organization […]

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CAUTION – PREPARE FOR THE TSP TRANSISTION

Posted on Friday, 13th May 2022 by Dennis Damp

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The TSP is updating their website and adding new investment choices. A short summary follows along with steps to take now that will familiarize you with the pending changes. If you were planning to initiate a new withdrawal or any changes to your investments from May 26th through the first week of June, you won’t […]

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Skyrocketing Inflation – Are You Prepared?

Posted on Friday, 4th March 2022 by Dennis Damp

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Everyone must prepare to maintain their standard of living in retirement.  Retirees from all sectors and those still working feel the wrath of this unrelenting force that constantly impacts our day to day lives. The progression of this financial endemic (inflation) is always upon us. At times, and when the economy is on a sound […]

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TSP Changes – The Mutual Fund Window & RMD Update

Posted on Thursday, 3rd February 2022 by Dennis Damp

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Good news for those wanting more investment options. The TSP plans to add a mutual fund window as early as this summer. A welcomed addition from my perspective. The proposed rule was posted on the Federal Register January 26, 2022. Comments must be received on or before March 28, 2022.   Congress passed legislation in […]

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COLAs, I Bond Interest, and Leaving Federal Service for the Private Sector

Posted on Sunday, 23rd January 2022 by Dennis Damp

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I’ve received a number of questions ranging from COLAs and I Savings Bond interest, to the impact on a federal employee’s annuity if they retire early or take a deferred retirement.  You may find this information helpful. COLAs and the FERS Supplement FERS employees retiring with a Special Supplement should be aware of their limitations. […]

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