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Annuity Expectations – Before and After

Posted on Friday, 6th August 2021 by Dennis Damp

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Your annuity, a defined benefit retirement plan, is determined by the retirement system that you are in, either the Federal Employees Retirement System (FERS) or the Civil Service Retirement System (CSRS). Approximately 2 percent of current federal employees are under the old CSRS / CSRS Offset system, the FERS program was established in the 1980s. […]

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Prescription Savings Cards & Coupons

Posted on Thursday, 22nd July 2021 by Dennis Damp

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A number of our newsletter subscribers commented on my article titled, “Unexpected Medical Expenses.”  Several stand out and need further clarifications. One of particular interest was from Richard, he will turn 65 later this year and wanted to know if the drug manufacturer’s “savings card” that he now uses would be accepted after signing up […]

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Unexpected Health Care Costs

Posted on Friday, 9th July 2021 by Dennis Damp

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One of our subscribers was blindsided by an unexpected FEHB plan copayment after reaching age 65.  His copayment for a wellness visit increased from $30 previously to $170 and his FEHB provider stated that they only pay after 65 for what Medicare would pay even if you aren’t enrolled in Medicare. Under the FEHB law, […]

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Maximize Retirement Income & TSP Changes

Posted on Friday, 25th June 2021 by Dennis Damp

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Earlier this year the Thrift Savings Plan (TSP) launched a redesigned website. Concurrently, they announced significant account access and security changes, additional L Fund options, and the ability to submit certain TSP forms online after logging into your account. They sent out a message from the executive director to all participants last February announcing these […]

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Critical Retirement Decisions – Are You Prepared?

Posted on Friday, 11th June 2021 by Dennis Damp

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Retirement is a life changing event that requires considerable research and due diligence. The elections made are often irreversible and can compromise a retiree’s finances and the benefits carried into retirement.  I retired from federal service in 2005 and my articles focus on current events that can and often do affect those planning their retirement […]

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2022 COLA Projections and Prescription Tip

Posted on Wednesday, 21st April 2021 by Dennis Damp

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We can expect a higher COLA increase for 2022. According to Kiplinger’s Magazine the 2022 COLA will Likely increase to 3%, the largest increase since 2012. The final number will be released this October.  There are many variables in the annual COLA calculation and these can change dramatically before the final numbers are tabulated. Request […]

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Blindsided – Don’t be Caught Off Guard

Posted on Saturday, 13th March 2021 by Dennis Damp

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Major laws are often passed without our representatives actually knowing what’s in them. Recall, the speaker of the house’s comment when Obama Care Passed. She stated, “We have to pass the bill so that you can find out what is in it.”  This isn’t a one-sided issue, both parties suffer from this irrational behavior. Most […]

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Life Goes On – Account Access Instructions

Posted on Saturday, 6th March 2021 by Dennis Damp

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Planning for retirement and life in general requires organization and much thought. Long before we retire our significant others require our assistance and this goes both ways. In most relationships, one person takes responsibility for certain aspects of the couple’s life.  Whoever pays the bills and manages financial affairs must have clear and concise instructions […]

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