Posted on Friday, 11th March 2022 by Dennis Damp
My previous article titled “Skyrocketing Inflation” had a broken link, the most clicked on link in the article. Here is the corrected link: How to Keep What You Worked a Lifetime Accumulating (Updated) Typically, I focus on issues that impact those planning retirement and annuitants alike. The common thread reflects my personal experiences and […]
Tags: Border problem, emergency food supplies, Inflation
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Posted on Friday, 4th March 2022 by Dennis Damp
Everyone must prepare to maintain their standard of living in retirement. Retirees from all sectors and those still working feel the wrath of this unrelenting force that constantly impacts our day to day lives. The progression of this financial endemic (inflation) is always upon us. At times, and when the economy is on a sound […]
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Posted on Friday, 18th February 2022 by Dennis Damp
If you are in the market for a new car, it may be challenging to find the one you want at an affordable price. Most dealers have few new cars available; it has been that way for more than a year now. Honestly, I don’t know how the dealerships are staying in business. Some have […]
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| Comments (0)Posted on Thursday, 3rd February 2022 by Dennis Damp
Good news for those wanting more investment options. The TSP plans to add a mutual fund window as early as this summer. A welcomed addition from my perspective. The proposed rule was posted on the Federal Register January 26, 2022. Comments must be received on or before March 28, 2022. Congress passed legislation in […]
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Posted on Sunday, 23rd January 2022 by Dennis Damp
I’ve received a number of questions ranging from COLAs and I Savings Bond interest, to the impact on a federal employee’s annuity if they retire early or take a deferred retirement. You may find this information helpful. COLAs and the FERS Supplement FERS employees retiring with a Special Supplement should be aware of their limitations. […]
Tags: COLAs, Federal Retirement, I Bonds, Leaving Federal Service
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Posted on Friday, 14th January 2022 by Dennis Damp
Federal annuitants receive their updated Annuity Statement, with the COLA increase added, early January. Our 1099R Tax Forms typically aren’t available until the end of January by regular mail. Registered users of OPM’s Retirement Services Website can download their Annuity Statement and 1099R forms NOW! CIVIL SERVICE ANNUITY STATEMENTS OPM sends out updated annuity statements […]
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| Comments (0)Posted on Friday, 7th January 2022 by Dennis Damp
It’s been quite a year, COVID, life disrupted across the board, and so much more to distract us day to day. Thankfully, we are surviving and life is getting back to the new normal; whatever that might be. I’m still trying to figure that out. All Americans are impacted by the Covid epidemic, lawlessness and […]
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| Comments (0)Posted on Friday, 10th December 2021 by Dennis Damp
(Updated 1-12-2024) The Internal Revenue Code (IRC) requires that you begin receiving distributions from your account in the calendar year you become age 73 and are separated from federal service. Your traditional account is subject to these required minimum distributions (RMDs). The TSP calculates RMDs using your age, your prior year-end account balance, and the […]
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