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Posted on Friday, 24th January 2020 by Dennis Damp

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New retirees are subject to interim annuity payments and many don’t know what to expect when they first leave federal service. Federal employees must have sufficient cash available and be financially prepared when retiring to allow OPM to complete a final adjudication of their claim. Request a Federal Retirement Report™ today to review your projected annuity payments, income […]

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Posted on Wednesday, 22nd January 2020 by Dennis Damp

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Our 1099R Tax Forms typically aren’t available until the end of January by regular mail. Registered users of OPM’s Retirement Services Website can download their 1099R now. I visited the site on January 22, 2020 and download my copy early to use with my 2019 tax return.  Last year the 1099Rs were available for download […]

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Posted on Saturday, 11th January 2020 by Dennis Damp

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In late December of each year federal retirees receive a Notice of Annuity Adjustment that provides abundant information for annuitants and their survivors. Any time your annuity payment is modified, for whatever reasons, OPM sends out a new notice outlining the change and the impact on your annuity. If a COLA is pending, health care […]

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Posted on Monday, 30th December 2019 by Dennis Damp

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Those planning to retire soon will benefit from the pay raise in a number of ways. Primarily, your annual leave buy back will be at the new pay rate starting the first pay period of 2020. If you plan on staying another year or longer the raise will increase your high three average earnings that […]

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Posted on Friday, 29th November 2019 by Dennis Damp

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Prior to Medicare eligibility, when you are under age 65, many elect high option plans to reduce their exposure to deductibles, coinsurance, and copayments. However, when you turn 65 and enroll in the traditional Medicare A & B options, it often makes sense to switch to a lower cost plan. Most Federal Employee Health Benefit […]

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Posted on Sunday, 24th November 2019 by Dennis Damp

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Each year during open season I request brochures from providers of interest and review Section 2 to see what is changing for the new year. I also review Section 9 to confirm what each plan covers when you are enrolled in Medicare and check the coverage for areas where we know we will need services […]

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Posted on Friday, 15th November 2019 by Dennis Damp

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Retirement is more of a destination unlike a planned vacation where you return to work a few days after the trip is over.  Whether you are going on vacation or planning your retirement you have to research and prepare to make the event truly remarkable. Carole, one of our newsletter subscribers, asked if I had […]

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Posted on Wednesday, 30th October 2019 by Dennis Damp

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The Federal Employees Health Benefits (FEHB) Open Season for selecting our 2020 healthcare plans runs from November 11th through December 9th this year. There are tools available to evaluate provider options, select your 2020 plan, and submit changes to OPM. Use the following resources to make an informed decision for you and your family’s health care […]

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