Posted on Wednesday, 18th August 2021 by Dennis Damp
Our 2022 Leave Chart & Schedule Tracker is now available for federal employees to track their schedule, annual and sick leave, comp, and credit hours used. Our updated 2022 Excel Leave Chart is designed for active federal employees that are planning their retirement and need to establish realistic target retirement dates. This spreadsheet also helps […]
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| Comments (0)Posted on Friday, 6th August 2021 by Dennis Damp
Your annuity, a defined benefit retirement plan, is determined by the retirement system that you are in, either the Federal Employees Retirement System (FERS) or the Civil Service Retirement System (CSRS). Approximately 2 percent of current federal employees are under the old CSRS / CSRS Offset system, the FERS program was established in the 1980s. […]
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Posted on Thursday, 22nd July 2021 by Dennis Damp
A number of our newsletter subscribers commented on my article titled, “Unexpected Medical Expenses.” Several stand out and need further clarifications. One of particular interest was from Richard, he will turn 65 later this year and wanted to know if the drug manufacturer’s “savings card” that he now uses would be accepted after signing up […]
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Posted on Friday, 9th July 2021 by Dennis Damp
One of our subscribers was blindsided by an unexpected FEHB plan copayment after reaching age 65. His copayment for a wellness visit increased from $30 previously to $170 and his FEHB provider stated that they only pay after 65 for what Medicare would pay even if you aren’t enrolled in Medicare. Under the FEHB law, […]
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Posted on Friday, 25th June 2021 by Dennis Damp
Earlier this year the Thrift Savings Plan (TSP) launched a redesigned website. Concurrently, they announced significant account access and security changes, additional L Fund options, and the ability to submit certain TSP forms online after logging into your account. They sent out a message from the executive director to all participants last February announcing these […]
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Posted on Friday, 11th June 2021 by Dennis Damp
Retirement is a life changing event that requires considerable research and due diligence. The elections made are often irreversible and can compromise a retiree’s finances and the benefits carried into retirement. I retired from federal service in 2005 and my articles focus on current events that can and often do affect those planning their retirement […]
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Posted on Friday, 7th May 2021 by Dennis Damp
IRMAA stands for Income Related Monthly Adjustment Amounts. A federal retiree’s total income includes their pension, social security benefits, income from investments (dividends and capital gains), and required minimum distributions from their TSP and other retirement accounts. Many also work part time or own small businesses. All income combined can often increase a retiree’s Medicare […]
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| Comments (0)Posted on Wednesday, 21st April 2021 by Dennis Damp
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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