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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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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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Posted on Friday, 14th January 2022 by Dennis Damp

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Federal annuitants receive their updated Annuity Statement, with the COLA increase added, early January. Our 1099R Tax Forms typically aren’t available until the end of January by regular mail. Registered users of OPM’s Retirement Services Website can download their Annuity Statement and 1099R forms NOW! CIVIL SERVICE ANNUITY STATEMENTS OPM sends out updated annuity statements […]

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Posted on Friday, 17th December 2021 by Dennis Damp

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My previous article, “Required Minimum Distributions (RMDS) – Are Your Ready,” received considerable interest. I stated, “Many are confused by the Required Minimum Distribution (RDM) requirement for ROTH accounts and how this works. According to the Thrift Savings Plan (TSP), the entire account balance, Traditional and ROTH, on December 31st of each year is used […]

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Posted on Friday, 10th December 2021 by Dennis Damp

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The Internal Revenue Code (IRC) requires that you begin receiving distributions from your account in the calendar year you become age 72 and are separated from federal service. Your entire TSP account—both traditional and Roth—is subject to these required minimum distributions (RMDs). The TSP calculates RMDs using your age, your prior year-end account balance, and […]

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Posted on Friday, 3rd December 2021 by Dennis Damp

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I’ve written a number of articles over the years on conservative investment strategies and often mentioned just how attractive I Savings Bonds are. A great overall investment; anyone purchasing I bonds between last November though next April will earn an astonishing 7.12% on their investment the first 6 months they own them. The rate changes […]

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Posted on Saturday, 27th November 2021 by Dennis Damp

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“Yes, Virginia, there is a Santa Clause.” Prescription drug copays under Aetna’s Medicare Plans remain the same regardless of whether or not you enter the Part D prescription drug gap. This includes all three of their plans: Self Only (Z24), Self + 1 (Z26), Self and Family (Z25). I talked to a number of Aetna […]

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Posted on Saturday, 20th November 2021 by Dennis Damp

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Updated 11/27/2021 My recent article titled “GEHA Standard to BCBS Basic Plan Comparison – 2022” stated that Federal Employees Health Benefits (FEHB) Medicare Advantage (MA) plans could possibly save you even more. These plans were introduced as new options in the FEHB program over the past several year. Many federal employees and annuitants are curious […]

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