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Inherited Thrift Savings Plan (TSP) Account – Revisited

Posted on Friday, 23rd June 2023 by Dennis Damp

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Recently updated, and at times contradictory TSP guidance concerning this subject, was presented in my previous article. I would like to thank Tammy Flanagan, a former federal employee, professional federal benefits specialist, and friend for contacted me about this issue. The Beneficiary Conundrum How assets of TSP accounts are distributed to beneficiaries, upon the owner’s […]

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Inherited Thrift Savings Plan (TSP) Account Guidance

Posted on Friday, 16th June 2023 by Dennis Damp

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I discussed the spousal and non-spousal beneficiary issues with a TSP representative last week to substantiate the following inherited account guidelines. When an annuitant or surviving spouse dies the TSP sends out a determination package to beneficiaries. They set up a survivor account for spouses or a temporary account for non-spousal beneficiaries that can be […]

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Death Benefit Delays – Don’t Let This Happen to You (Part 2)

Posted on Friday, 2nd June 2023 by Dennis Damp

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Please forward this to others that may find this information helpful. They can sign-up to receive my free Retirement Planning Newsletter. The first part of this article discussed the delays survivors can expect before receiving their first annuity check, electing a survivor’s annuity, survivor’s annuity cost, reporting a death, and submitting the application for death […]

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Death Benefit Delays – Don’t Let This Happen to You (Part 1)

Posted on Friday, 19th May 2023 by Dennis Damp

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Please forward this to others that may find this information helpful. They can sign-up to receive my free Retirement Planning Newsletter. Few are prepared for the delays a spouse and heirs will experience after applying for an annuitant’s death benefits. I recently reviewed and updated our estate plans and contacted the Office of Personnel Management […]

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Are Your Bank & Credit Union Accounts Safe and Insured?

Posted on Friday, 5th May 2023 by Dennis Damp

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Please forward this to others that may find this information helpful. They can sign-up to receive my free Retirement Planning Newsletter. Fixed income investments continue to provide a safe haven for our cash as long as we are Vigilant. With the failure of First Republic Bank last week, the third so far this year, all […]

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Hiring A Financial Advisor – Credentials and Fees (Part 2)

Posted on Friday, 28th April 2023 by Dennis Damp

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Last week’s article titled “Hiring A Financial Planning – How & Why (Part 1)” covered the state of the economy, why it’s essential to manage our retirement savings prudently, and discussed the first steps for finding a creditable financial advisor. This segment outlines the level of support financial planners can provide, how to substantiate their […]

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Hiring A Financial Advisor – How and Why (Part 1)

Posted on Friday, 21st April 2023 by Dennis Damp

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Forward this to others that may find this information helpful. They can sign-up to receive my free Retirement Planning Newsletter. The Federal Reserve intentionally kept interest rates artificially near ZERO for many years. Now that interest rates and inflation are soaring in 2023, do we ladder CDs, buy short term Treasuries and corporate bonds, and/or […]

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2024 COLA Update and New Beneficiary Designation Form

Posted on Saturday, 15th April 2023 by Dennis Damp

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Last year’s 8.7% COLA increase was the highest in over 40 years. Civil Service Retirement System (CSRS) annuitants received the full 8.7% while Federal Employees Retirement System (FERS) annuitants received 7.7%. Next year’s COLA may be disappointingly low even when it seems our costs for just about everything continue to skyrocket. I just returned from […]

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