Posted on Friday, 4th October 2019 by Dennis Damp
Our government reports that inflation is low yet every time we turn around prices are increasing. I often ponder why our COLAs are so low most years when we know from firsthand experience that the costs of almost everything is going through the roof. We purchased a new car in 2016, a luxury model at […]
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Posted on Sunday, 15th September 2019 by Dennis Damp
We can look forward to a COLA increase for 2020 of between 1.6% to 1.8%, a significant decrease from last year’s 2.8%. The Social Security Administration estimated a 1.8% increase and the July issue of Kiplinger magazine suggested it may be lower at 1.6% based on their projections. The Social Security Act specifies a formula […]
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Posted on Sunday, 1st September 2019 by Dennis Damp
I often receive questions from retirees desiring to return to work and from agency HR departments interested in hiring former federal employees. Agency recruiters are trying whatever they can to fill critical positions. With an unemployment rate of 3.7% the country is at full employment. One of the ways to fill critical positions is to […]
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Posted on Saturday, 17th August 2019 by Dennis Damp
On September 15th the TSP will implement new withdrawal options for all participants. I published an article last March titled TSP Changes & Required Minimum Distributions (RMDs) discussing the pending changes and how RMDs will be handled under the new rules. Request a Federal Retirement Report™ today to review your projected annuity payments, income verses expenses, FEGLI, […]
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| Comments (0)Posted on Sunday, 28th July 2019 by Dennis Damp
Those approaching retirement and retirees often move to more conservative investments to avoid losing what they worked a lifetime to accumulate. Many federal retirees live on fixed income from their annuity, Social Security, and Thrift Savings Accounts. We only have a finite time on this earth and the older we get the less time we […]
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Posted on Sunday, 21st July 2019 by Shawn McCoy
I would like to welcome Shawn McCoy, President and Founder of Federal Employee Benefits Advocates, LLC (FEBA) an educational and training company, to our guest forum. Mr. McCoy is an expert on Federal employee benefits and has spoken to over 19,000 Federal employees over the last 10 years. This is his first of many artilces […]
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Posted on Thursday, 11th July 2019 by Dennis Damp
Updated 11/11/2024 Many approaching 65 ask, “Why shouldn’t I simply sign up for Medicare A and B and cancel my FEHB plan?” They believe at first glance that Medicare A and B duplicate what our Federal Employees Health Benefits (FEHB) plans provide. I reply to this question many times throughout the year and refer those […]
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Posted on Thursday, 13th June 2019 by Dennis Damp
There are many things to consider when determining your FERS retirement benefits. If you meet certain requirements, you will receive a Special Retirement Supplement which is paid until you reach age 62. This supplement is similar to the Social Security benefit earned while you were employed by the Federal government. However, since the formula for […]
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