Posted on Friday, 7th February 2020 by Dennis Damp
Updated 8/1/2024 Fortunately, the National Defense Authorization Act for Fiscal Year 2010 authorized FERS employees to use their unused sick leave balances to increase their retirement annuity. Prior to this Act, only CSRS employees were able to use their unused sick leave balances in their annuity calculation. Until this act was passed, federal employees hired […]
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| Comments (2)Posted on Friday, 24th January 2020 by Dennis Damp
New retirees are subject to interim annuity payments and many don’t know what to expect when they first leave federal service. Federal employees must have sufficient cash available and be financially prepared when retiring to allow OPM to complete a final adjudication of their claim. Request a Federal Retirement Report™ today to review your projected annuity payments, income […]
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Posted on Wednesday, 22nd January 2020 by Dennis Damp
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 1099R now. I visited the site on January 22, 2020 and download my copy early to use with my 2019 tax return. Last year the 1099Rs were available for download […]
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Posted on Saturday, 11th January 2020 by Dennis Damp
In late December of each year federal retirees receive a Notice of Annuity Adjustment that provides abundant information for annuitants and their survivors. Any time your annuity payment is modified, for whatever reasons, OPM sends out a new notice outlining the change and the impact on your annuity. If a COLA is pending, health care […]
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Posted on Monday, 30th December 2019 by Dennis Damp
Those planning to retire soon will benefit from the pay raise in a number of ways. Primarily, your annual leave buy back will be at the new pay rate starting the first pay period of 2020. If you plan on staying another year or longer the raise will increase your high three average earnings that […]
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Posted on Saturday, 14th December 2019 by Dennis Damp
I have a medical condition called Paroxysmal Atrial Fibrillation (PAF), intermittently my heart goes into arrhythmia. This past year I ended up in the emergency room when I wasn’t able to control the attack with traditional methods. The ER doctor asked if I took my EKG with my Apple watch during the attack. Unfortunately, I […]
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| Comments (0)Posted on Friday, 29th November 2019 by Dennis Damp
Prior to Medicare eligibility, when you are under age 65, many elect high option plans to reduce their exposure to deductibles, coinsurance, and copayments. However, when you turn 65 and enroll in the traditional Medicare A & B options, it often makes sense to switch to a lower cost plan. Most Federal Employee Health Benefit […]
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Posted on Sunday, 24th November 2019 by Dennis Damp
Each year during open season I request brochures from providers of interest and review Section 2 to see what is changing for the new year. I also review Section 9 to confirm what each plan covers when you are enrolled in Medicare and check the coverage for areas where we know we will need services […]
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