FINANCE / TIP | Federal Employee's Retirement Planning Guide

2024 COLA Update and New Beneficiary Designation Form

Posted on Saturday, 15th April 2023 by Dennis Damp

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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Job Opportunities for Annuitants & Soon to Retire Employees

Posted on Friday, 31st March 2023 by Dennis Damp

The economy continues to heat up. Employers added 311,000 workers in February, a sign that the pace of hiring continues to rise, economists predicted 225,000 new jobs! The Federal Reserve continues to raise interest rates to fight inflation. Their intent is to slow down the economy and raise the unemployment rate that is currently sitting […]

Tags: Federal Annuitants, FERS Retirees, Retiree Jobs, Security Jobs, Writing Jobs
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Savings Bonds 2.0 – Tax Consequences & Recovering Lost Bonds

Posted on Friday, 17th March 2023 by Dennis Damp

Savings bonds as featured in my article titled, “I and EE Savings Bonds – Safe, Simple, and Affordable” can be used to finance children’s education, supplement future retirement income, or save for a rainy day, all are backed by the full faith and credit of the United States. Many are unaware of the tax-free components […]

Tags: EE Bonds, I Bonds, Lost Savings Bonds, Savings Bonds, Tax Free Interest
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I and EE Savings Bonds – Safe, Simple, and Affordable

Posted on Friday, 10th March 2023 by Dennis Damp

Savings bonds received a boost in popularity last year due to their inflation indexed I-Bond’s exceptional interest rates, currently 6.89%. Far exceeding what most investments are paying today. Their previous six-month yield was 9.62%! A former associate reviewed savings bond interest rates for his payroll deduction purchases from 2001 to 2007. His 2001 bonds are […]

Tags: EE Bonds, I Bonds, Savings Bond Purchasing Limits, Savings Bonds
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Federal Employee’s Group Life Insurance – FEGLI Considerations

Posted on Friday, 24th February 2023 by Dennis Damp

Forward this to others that may find this information helpful. Sign-up to receive my free Retirement Planning Newsletter. I receive many FEGLI insurance coverage questions throughout the year. Especially from those working on their retirement paperwork and require coverage clarifications. One subscriber recently asked if FEGLI is considered term insurance, if so, does the term […]

Tags: Federal Employee Benefits, FEGLI, Insurance
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Thrift Savings Plan (TSP) Changes – Secure Act 2.0 + Updates

Posted on Friday, 17th February 2023 by Dennis Damp

Forward this to others that may find this information helpful. They can sign-up to receive my free Retirement Planning Newsletter. On December 29, 2022, the Retirement Enhancement (SECURE) 2.0 Act of 2022 was signed into law. This second installation of the 2019 SECURE Act introduces several changes affecting the Thrift Savings Plan. This legislation will directly […]

Tags: Catch-Up Contributions, I Bonds, Secure Act 2.0, TSP, TSP RMDs
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Debt Ceiling Impact on TSP Investments + Updates

Posted on Friday, 10th February 2023 by Dennis Damp

Forward this to others that may find this information helpful. They can sign-up to receive my free Retirement Planning Newsletter. According to Janet Yellen’s memorandum to congress the U.S. Treasury will be unable to fully invest the portion of the Civil Service Retirement and Disability Fund (CSRDF) not immediately required to pay beneficiaries beginning January 19, […]

Tags: Debt Ceiling, Debt Crisis, Government Spending, TSP Investments
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No Time Like the Present – Updates & Blue Book Availability

Posted on Friday, 3rd February 2023 by Dennis Damp

Forward this to others that may find this information helpful. They can sign-up to receive my free Retirement Planning Newsletter. It’s the beginning of a new year! A good time for those planning their retirement to assess where they are financially, and take the necessary steps to secure their future. Federal employees received a significant pay […]

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