ESTATE PLANNING | Federal Employee's Retirement Planning Guide

2020 COLA and Annuity Projection Calculator Update

Posted on Saturday, 12th October 2019 by Dennis Damp

I reported in mid-September that our 2020 COLA was projected to be 1.6% according to Kiplinger’s. They were spot on. The Social Security Administration announced a 1.6% COLA increase on October 10th for 2020. CSRS and FERS annuitants will all receive the full 1.6% this year. Request a Federal Retirement Report today to review your projected […]

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2020 COLA and the 2019 Health Care Open Season

Posted on Sunday, 15th September 2019 by Dennis Damp

We can look forward to a COLA increase for 2020 of between 1.6% to 1.8%, a significant decrease from last year’s 2.8%. The Social Security Administration estimated a 1.8% increase and the July issue of Kiplinger magazine suggested it may be lower at 1.6% based on their projections. The Social Security Act specifies a formula […]

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Alert – New TSP Withdrawal Options

Posted on Saturday, 17th August 2019 by Dennis Damp

On September 15th the TSP will implement new withdrawal options for all participants. I published an article last March titled TSP Changes & Required Minimum Distributions (RMDs) discussing the pending changes and how RMDs will be handled under the new rules. Request a Federal Retirement Report™ today to review your projected annuity payments, income verses expenses, FEGLI, […]

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Should I Defer Social Security Until Age 70?

Posted on Saturday, 10th August 2019 by Dennis Damp

Many think why wait, I don’t know if I’ll live to 70! Others simply need their benefit at 62 just to make ends meet. For those who are healthy and have several decades of retirement to look forward to, and have sufficient income to see them through those early retirement years, it makes sense to […]

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Protecting your Assets with Fixed Income Investments

Posted on Sunday, 28th July 2019 by Dennis Damp

Those approaching retirement and retirees often move to more conservative investments to avoid losing what they worked a lifetime to accumulate. Many federal retirees live on fixed income from their annuity, Social Security, and Thrift Savings Accounts. We only have a finite time on this earth and the older we get the less time we […]

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Flexible Spending Accounts (FSA)

Posted on Sunday, 21st July 2019 by Shawn McCoy

I would like to welcome Shawn McCoy, President and Founder of Federal Employee Benefits Advocates, LLC (FEBA) an educational and training company, to our guest forum. Mr. McCoy is an expert on Federal employee benefits and has spoken to over 19,000 Federal employees over the last 10 years. This is his first of many artilces […]

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FERS Supplement Update – Are You Eligible

Posted on Thursday, 13th June 2019 by Dennis Damp

There are many things to consider when determining your FERS retirement benefits. If you meet certain requirements, you will receive a Special Retirement Supplement which is paid until you reach age 62. This supplement is similar to the Social Security benefit earned while you were employed by the Federal government. However, since the formula for […]

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Managing Your Required Minimum Distributions (RMDs)

Posted on Saturday, 18th May 2019 by Dennis Damp

Those approaching age 70 ½ and older are often perplexed about their Thrift Savings Plan RMD withdrawal options and how to efficiently manage the transaction’s proceeds. Some of the concerns are your TSP balance decreases with each withdrawal, annual income and taxes increase, and the earned income potential vanishes for the cash you now have […]

Tags: RMDs, TSP
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