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FEGLI Open Season, Long Term Care, and Lifestyle Updates

Posted on Monday, 1st August 2016 by Dennis Damp

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FEGLI Open Season Update A number of our subscribers have sent questions about the upcoming FEGLI Open Season and are not sure what options to consider. Open season runs from September 1 through September 30, 2016. It’s time to review your current insurance coverage and determine your true insurance needs before it’s too late. You […]

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Long Term Care – The Other Shoe Drops!

Posted on Thursday, 21st July 2016 by Dennis Damp

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OK, I might have been a little too gracious in my June article titled Long Term Care Insurance – Is it worth the cost? I received a notice from the Federal Long Term Care insurance provider increasing our premiums by over 100 percent in less than 7 months from our last increase in January!!! I […]

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FEGLI Open Season, Phased Retirement, & Updates

Posted on Saturday, 9th July 2016 by Dennis Damp

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The FEGLI Open Season runs from September 1 through September 30, 2016 and I wrote an article last October about the options available and new premiums. I began the article with, “Even if you think, like I did in 2004 when the last open season was offered, that you have sufficient coverage you may be […]

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Long Term Care Insurance – Is it worth the cost?

Posted on Friday, 10th June 2016 by Dennis Damp

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I applied for Long Term care insurance when it was first offered as a benefit in December of 2002. Our premiums for the Future Purchase Option (FPO) at that time were reasonable for the 5 years of coverage we elected; $73.57 monthly for my wife and I.  My premium for the Future Purchase Option was […]

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How to Keep What You Worked a Life Time Accumulating

Posted on Thursday, 24th March 2016 by Dennis Damp

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(Updated 2/26/2022) The current bull market is the longest in history and as all bull markets do, they eventually end in a recession. You hear a lot today about the uncertainty in the market considering all of the stimulation that the Federal Reserve has applied through their low interest policies. When interest rates are low […]

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Will Government Pension Offset (GPO) Reduce Your Social Security Benefits?

Posted on Saturday, 13th February 2016 by Dennis Damp

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Recently one of our newsletter subscribers asked me to explain how the Government Pension Offset (GPO) impacts a married couple, one retiring under CSRS and the other under FERS.  The husband will retire under CSRS and his wife is a FERS employee. He also wanted to know if his wife’s social security will be penalized […]

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1099 Rs Available, Social Security Filing, & Updates

Posted on Wednesday, 27th January 2016 by Dennis Damp

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I typically purchase Intuit TurboTax Home & Business software in mid December each year to start working on our income taxes. I was able to download my Statement of Annuity Paid (1099 R Form) direct from OPM’s retirement services web site on January 17th!  Typically retirees receive these forms in the mail by the end […]

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FEGLI Rate Changes, Annuity Adjustments & More

Posted on Friday, 15th January 2016 by Dennis Damp

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As of January 1, 2016, FEGLI premiums for many options and age brackets changed due to actuarial adjustments. Annuitants that carried FEGLI coverage into retirement will receive a Notice of Annuity Adjustment showing the new rates. Most of the new FEGLI rates for Option A, B and C decrease. The older age band rates for […]

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