fbpx

2021 COLA Announced and Annuity Projection Calculator

Posted on Tuesday, 13th October 2020 by Dennis Damp

Share

I reported in mid-September that the 2021 COLA was projected to be anywhere from .44% to as high as 1.2% according to Kiplinger’s. The Social Security Administration announced a 1.3% COLA increase on October 13th for 2020. CSRS and FERS annuitants will receive the full 1.3% this year. View the table of all COLAs from […]

Posted in

| Comments (0)

Required Retirement Application Forms

Posted on Friday, 18th September 2020 by Dennis Damp

Share

I receive many questions this time of year about the retirement process and required forms. It can take several months for HR to process your papers and send them to the Office of Personnel Management (OPM) for final determination of your claim. Many federal and postal workers elect to retire at end of year because […]

Posted in

| Comments (2)

Health Plan Comparisons – The Good News

Posted on Friday, 4th September 2020 by Dennis Damp

Share

  I know its early, open season doesn’t start until November. However, it is a good time to start thinking about your 2021 health care needs now. Open season is just around the corner. Request a Federal Retirement Report™ to review projected annuity payments, income verses expenses, FEGLI, and TSP projections. I recently talked with Kevin […]

Posted in

| Comments (0)

Survivor’s Checklist Update

Posted on Saturday, 22nd August 2020 by Dennis Damp

Share

Estate planning is a sensitive issue and many avoid the subject until it’s too late. This can and will compromise your heir’s benefits, or at least delay them when they will be needed most.  It’s never too late to start. It is advisable to compile this information long before it will be needed, and the […]

Posted in

| Comments (0)

Savings Bond Redemptions & Memoir Update

Posted on Friday, 14th August 2020 by Dennis Damp

Share

Many federal employees, including myself, purchased paper savings bonds though payroll deduction until paper bonds were discontinued eight years ago. Savings bonds mature after 30 years.  If you own bonds that are thirty or more years old, they no longer earn interest and should be cashed in. Many banks and credit unions no longer redeem […]

Posted in

| Comments (0)

TSP CARES ACT & Life Cycle Fund Changes

Posted on Saturday, 13th June 2020 by Dennis Damp

Share

The CARES Act offers temporary loan and withdrawal options for TSP participants affected by COVID-19. The dramatic stock market sell-off this past March and subsequent correction last week reduced portfolio values dramatically for many. Lower account balances for all but the bond funds make the decision to take out loans or elect a withdrawal difficult. […]

Posted in

| Comments (0)

Finding Help – Retirement Planning Assistance

Posted on Friday, 15th May 2020 by Dennis Damp

Share

Those planning their retirement and annuitants require accessible resources for answers to their individual and unique questions. OPM does a good job managing our retirement system overall. However, there are limits to what they can and will provide. It’s often frustrating and difficult finding competent help and the level of assistance required. There are many […]

Posted in

| Comments (0)

Request an Updated Retirement Benefits Booklet

Posted on Saturday, 2nd May 2020 by Dennis Damp

Share

A number of helpful updates were added to OPM’s online annuity services website recently at https://www.servicesonline.opm.gov. They changed the way your Claim Number works on the “Sign In” and “Forgot Password” pages. My Access Screen with Personal Data Removed This change provides assistance on Claim Number formatting during site entry. When you first enter the […]

Posted in

| Comments (0)

Terms Of Use