FINANCE / TIP | Federal Employee's Retirement Planning Guide

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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Retiree Job Opportunities – Federal Annuitants Have the Advantage

Posted on Friday, 31st May 2019 by Dennis Damp

Our Federal Retiree Jobs Board intro states, “Jobs are posted on this site by employers that are seeking highly qualified, reliable, and skilled federal annuitants and employees approaching retirement. Federal employees and retirees are sought out by corporate America due to their exceptional service, skills, education, security clearances held, and knowledge of their agency or […]

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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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TSP Changes & Required Minimum Distributions (RMDs)

Posted on Monday, 4th March 2019 by Dennis Damp

The TSP currently requires that you make a full withdrawal election after you turn 70½ if you haven’t initiated any of the withdrawal options and have separated from federal service. If you fail to do that, the TSP initiates an account “abandonment” process. Fortunately, the new law passed in late 2017 establishes more flexible withdrawal […]

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The 2019 Pay Raise – Ways to Save

Posted on Sunday, 24th February 2019 by Dennis Damp

The President signed a spending bill fully funding the federal government through September of this year. The bill authorized a 1.9% pay raise for federal employees. It will take time for all of the agencies to load the updated tables into their system and we will post the new 2019 pay tables as soon as […]

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TSP Investors – Changes Coming Your Way

Posted on Friday, 8th February 2019 by Dennis Damp

I received my TSP 2018 Annual Statement this week and there was a short announcement about the Lifecycle (L) Fund changes on the backside of the Highlights sheet. The statement includes your total contributions, projected lifetime monthly annuity amount, fund and account performance statistics and more. The TSP has begun adjusting the L Fund allocations […]

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Don’t Let This Happen to You!

Posted on Tuesday, 5th February 2019 by Dennis Damp

I received several emails from federal workers that quit because of the shutdown! They asked how to cash in their FERS retirement. Recently, the Washington Post published an article about federal employee’s facing the decision to “Stay or Quit.“ Certainly, new hires and those with only a few years federal employment were struggling, and I […]

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1099Rs Available Online Now!

Posted on Saturday, 19th January 2019 by Dennis Damp

Normally, federal annuitants don’t received their 1099R Tax Forms by regular mail until the end of January or the beginning of February. If you are registered to use OPM’s Retirement Services Website your 1099R is now available for download. I visited the site on January 16, 2019 and was able to download my copy that […]

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