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Is This Coming Your Way? and the National Debt Crisis

Posted on Saturday, 17th March 2012 by Dennis Damp

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Starting in 2013 newly hired FERS employee’s retirement contributions will increase from .8 percent to 3.1 percent of salary. Originally this was intended to apply to all FERS employees. There is another vote pending in the house that proposes increasing all employees’ contributions by 1.5 percent that will be phased in over a three year […]

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TSP Basics

Posted on Sunday, 11th March 2012 by Paul Risser

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Over the years I’ve talked to many federal employees about their Thrift Savings Plan (TSP). Unfortunately most don’t have an understanding of what their options are at retirement. First, let’s discuss your current TSP allocation. Does your current allocation still meet your needs and goals? What I have found is most folks seldom reallocate investment […]

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Social Security – When Should I Apply and Replacing a Lost Card

Posted on Monday, 20th February 2012 by Dennis Damp

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There is much to consider before applying for Social Security. I’ll be 63 in May and my wife turns 62 this year. Do you need your Social Security card to apply? Many misplace their card and it isn’t uncommon to lose a card that you’ve had around the house for 40 years or more. You […]

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Pension Survivor Alert – Don’t Let This Happen to You

Posted on Thursday, 9th February 2012 by Paul Risser

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A few months ago, while meeting with a federal employee couple, I came across a story that I think is worth repeating. I’ve changed the names and some of the details, but the overall theme of the story is true. Mr. Jones was a good man and longtime CSRS government employee with many years of […]

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1099-R Replacements and Updates

Posted on Friday, 3rd February 2012 by Dennis Damp

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For those of you not yet retired this is good to know information. A 1099-R is what retirees receive from OPM for filing your taxes.  It lists your gross and taxable annuity amounts, federal and state tax withholding, healthcare premiums, and other relevant information.  If you are retired and haven’t received your 1099-R yet you […]

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2012 Changes, Temporary Service Credits, & Updates

Posted on Friday, 20th January 2012 by Dennis Damp

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We received a question from a federal employee concerning credit for temporary service. Linda was hired as a temporary employee in 1985 and two years later she was hired full time. Last April she bought back her two years of temporary service and her SCD has not changed on her Employee Express Benefits Statement. She […]

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Retirement Precautions, TSP Changes, Updates, and Retiree Jobs

Posted on Friday, 6th January 2012 by Dennis Damp

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Recently OPM clarified a number of issues around interim annuity payments and what retirees can expect when they first leave federal service. It is essential that federal employees have sufficient cash available and are financially prepared when retiring to allow OPM to complete a final adjudication of their claim. OPM is now processing applicants in […]

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Closing Out the Old and Bringing in the New

Posted on Monday, 26th December 2011 by Dennis Damp

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It has been a busy year; from changing FEHB providers to new business ventures, an operation, travels, and more.  One of the most significant for me and my wife was switching from Blue Cross Blue Shield Basic (BCBS) to the Government Employees Health Association (GEHA) Standard option during the FEHB open season. When I retired […]

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