Posted on Friday, 21st March 2025 by Dennis Damp
Most retirees and federal employees approaching retirement are concerned about rising cable and Internet costs, largely due to the cable companies’ decades-long monopoly. My monthly cable bill is currently $347.76, which is my largest utility bill. I wrote an article last year about cutting the cord, which focused on ways to reduce excessive cable bills, […]
Tags: cable services, Cutting the Cord, Internet Services, Reducing Costs
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Posted on Wednesday, 26th February 2025 by Dennis Damp
The Social Security Fairness Act repealed the windfall elimination provision and the government pension offset last November, and impacted CSRS retirees are waiting for their Social Security checks to increase. You are eligible for Social Security benefits if you accrued 40 quarters (10 years) of employment where Social Security payments were withheld. The Windfall Elimination […]
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Posted on Thursday, 13th February 2025 by Dennis Damp
Approximately 50% of retirees pay taxes on their Social Security benefits, compared to less than 10% in 1984! Thomas Massie (R-KY) reintroduced H.R. 1040, the Senior Citizens Tax Elimination Act. It was referred 02/06/2025 to the House Committee on Ways and Means. This bill assists seniors by eliminating the double tax on Social Security benefits. […]
Tags: Social Security, Social Security Tax Elimination, Social Security Taxes on Income, Taxes, Taxes on Social Security
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Posted on Friday, 7th February 2025 by Dennis Damp
Since writing the article “Medicare Prescription Drug Plan Fiasco – The Continuing Saga,” I’ve received over 40 emails and comments from site visitors experiencing the same issues; several are paying considerably more for their prescriptions under the MPDP plan. You can review all of the comments on our blog, they follow the article mentioned above. […]
Tags: GEHA Opt-Out, IRMAA, Medicare Part D, MPDP, MPDP Opt Out, Part D Penalities
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Posted on Friday, 31st January 2025 by Dennis Damp
The Social Security Administration was the first to send out tax forms again this year. Our 1099 R Tax Forms typically aren’t available by regular mail until late January to early February. Registered users of OPM’s Retirement Services Website can now download their Annuity Statement and 1099 R forms. Update My last article on taxable […]
Tags: 1099 R Forms, Annuity Statements, Blue Book, Social Security SSA 1099, Thrift Savings Plan 1099-R, TSP
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Posted on Wednesday, 29th January 2025 by Dennis Damp
According to OPM’s memo dated 1/28/2024, the President requires that employees return to in-person work. The Presidential directives issued this past week are intended to restore accountability for employees with policy-making authority, restore accountability for senior career executives, and reform the federal hiring process to focus on merit. Deferred resignation availability is limited to all […]
Tags: Deferred Resignations, Deferred Retirement, DOGE, Early Retirement, Federal Employee Deferred Resignations, FERS Retirement, VERA, VSIP
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Posted on Friday, 24th January 2025 by Dennis Damp
For those planning their retirement, it’s a good time to assess where you are financially long before filing your retirement paperwork. Federal employees received an overall 2 percent pay raise, factoring in locality pay. The 2025 pay charts are available for your review. Sign up for a complimentary retirement planning session and a FREE retirement planning […]
Tags: 1099 R Forms, Annuity Statements, Benefits Blue Book, COLA, Medicare Premiums, Social Security
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Posted on Friday, 10th January 2025 by Dennis Damp
Christmas came early for those subject to the WEP and GPO provisions but not for those who opted out of GEHA’s MPDP plan. Many, including my wife and me, opted out of Silver Script’s Part D (EGWP) Medicare Part D Prescription Drug plan offered by GEHA in late November, and we received a confirmation letter […]
Tags: EGWP, GEHA, Medicare, MPDP, Part D IRMAAs, Social Security
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