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Checks Are on the Way – CARES Act Summary

Posted on Friday, 17th April 2020 by Dennis Damp

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The Coronavirus Aid, Relief, and Economic Security (CARES) Act is providing support for those most impacted by the pandemic. Congress passed the Act last month and one of the key provisions is providing for Economic Impact Payments to American households. Payment of up to $1,200 per adult for individuals whose income was less than $99,000 […]

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Avoid Retirement Processing Delays (Update)

Posted on Friday, 10th April 2020 by Dennis Damp

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UPDATED 9/1/2024 OPM, as of May 2024, has an inventory of just over 14,000 claims to process. They received 6,751 claims in May and processed 8,793. There is a backlog of 15,797 applications waiting to be processed as of jULY 2024. It is now taking an average of 60 days to process retirement applications. Of […]

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Federal Retirees Needed to Provide COVID 19 Pandemic Support

Posted on Sunday, 29th March 2020 by Dennis Damp

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Federal retirees are generally able to reapply for federal jobs under the rehired annuitant program. The government is fast tracking dual compensation waivers that will allow reemployed retirees, with critical skills needed to fight this pandemic, to return to work without impacting their annuity. Request a Personalized “Federal Retirement Report” Today  In light of the […]

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SECURE ACT UPDATE – RMDs at Age 72

Posted on Thursday, 5th March 2020 by Dennis Damp

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The new Setting Every Community Up for Retirement Enhancement, the SECURE Act, was signed into law last December.  There are significant changes to how our retirement savings are accessed and taxed. We all need to be prepared for this new reality and take the necessary steps to comply with the rule changes. Request a Federal Retirement […]

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Retiree Reflections 2020

Posted on Friday, 21st February 2020 by Dennis Damp

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I typically write a short article each year about revelations in my life related to retirement. A break from the benefit issues I most often discuss. Another eventful year has passed and as always, with various trials and tribulations along the way. Federal Employee Retirement Benefits Seminars – Check Availability Last year I signed-up for […]

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Determining Your 2019 Total Health Insurance Premium Payments

Posted on Friday, 14th February 2020 by Dennis Damp

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Rosemary wrote me last week because she wasn’t sure where to find the total healthcare premiums that she paid in 2019. She needed the totals to file her taxes. Your best option is to log on to OPM’s Online Services. Select Annuity Statements, and then select the payment dates you wish to review in the […]

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Converting Unused Sick Leave (FERS & CSRS)

Posted on Friday, 7th February 2020 by Dennis Damp

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Updated 8/1/2024 Fortunately, the National Defense Authorization Act for Fiscal Year 2010 authorized FERS employees to use their unused sick leave balances to increase their retirement annuity. Prior to this Act, only CSRS employees were able to use their unused sick leave balances in their annuity calculation. Until this act was passed, federal employees hired […]

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Interim Retirement Checks & Retirement Application Processing Delays

Posted on Friday, 24th January 2020 by Dennis Damp

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New retirees are subject to interim annuity payments and many don’t know what to expect when they first leave federal service. Federal employees must have sufficient cash available and be financially prepared when retiring to allow OPM to complete a final adjudication of their claim. Request a Federal Retirement Report™ today to review your projected annuity payments, income […]

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