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No Time Like the Present – Updates & Blue Book Availability

Posted on Friday, 3rd February 2023 by Dennis Damp

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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 increase this year, 4.1% across the board with a .5% locality adjustment. The 2023 pay charts are available for […]

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Annuity Statements and 1099 R Tax Form Availability

Posted on Friday, 20th January 2023 by Dennis Damp

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Federal annuitants typically receive their updated Annuity Statement, with the COLA increase added, early January. OPM’s 1099 R Tax Forms aren’t available until the end of January by regular mail while my Social Security’s SSA 1099 from was received January 10th! Download Your Forms Now Registered users of OPM’s Retirement Services Website can download their Annual Annuity […]

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The December CPI and Fixed Income Updates

Posted on Saturday, 14th January 2023 by Dennis Damp

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The December 2022 Consumer Price Index (CPI) dropped .1%, the first drop in the CPI since December of 2020. A sign that inflation may be improving slightly. However, year over year inflation was 6.5%, still high by any standard. Wages, consumer goods, food, and housing remain high. The Federal Reserve is expected to continue increasing […]

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The Current State of Affairs and Reflections 2022

Posted on Friday, 6th January 2023 by Dennis Damp

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According to Gallup, three-quarters of Americans, including majorities of all party groups, are dissatisfied with the nation’s direction. The Current State of Affairs Many reading my column are seniors or those fast approaching that milestone. Everyone, regardless of age, is impacted by today’s runaway inflation, out-of-control spending, random violence, crime, open borders, extremist agendas, and […]

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RMDs, Annuity Statements and 1099Rs Are on Their Way

Posted on Friday, 16th December 2022 by Dennis Damp

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Yes Virginia, there is a Santa Clause. This time of year, the Thrift Savings Plan (TSP) sends out participant’s Required Minimum Distributions (RMDs), and in early January our annuity statements will arrive reflecting an 8.7% for CSRS and 7.7% FERS COLA increase. RMDs The first year you are 72 or older and separated from service […]

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FEHB Medicare Advantage Plans – What You Need to Know

Posted on Friday, 2nd December 2022 by Dennis Damp

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For most federal annuitants, FEHB Medicare Advantage (MA) plans will be the cheapest option next year. They combine low out-of-pocket healthcare expenses—sometimes $0 besides prescription drugs— with a Part B premium reduction. We’ll cover how they work, how much money you can save switching from popular FEHB plans, and who shouldn’t join an FEHB MA […]

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The FEHB Open Season Conundrum, Selecting the Best Plan

Posted on Friday, 25th November 2022 by Dennis Damp

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Please forward this to all federal employees, annuitants, and survivors Each year we publish numerous articles about the current open season’s (FEHBs) available plans, and we send out an updated “Open Season Selection Guide.” We also publish various FEHB plan comparisons, point out coverage concerns, new plan features, and relay the concerns of our readers […]

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Blue Cross Blue Shield Basic to GEHA Standard Plan Comparison – 2023

Posted on Thursday, 17th November 2022 by Dennis Damp

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Please forward this article to others that may find this information useful. This summary compares the 2023 Self + One Blue Cross Blue Shield (BCBS) Basic plan to the GEHA Standard plan for those who are 65 or older. BCBS has the most subscribers and GEHA has one of the lowest premiums for their standard […]

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