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TSP Changes & Required Minimum Distributions (RMDs)

Posted on Monday, 4th March 2019 by Dennis Damp

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The TSP currently requires that you make a full withdrawal election after you turn 70½ if you haven’t initiated any of the withdrawal options and have separated from federal service. If you fail to do that, the TSP initiates an account “abandonment” process. Fortunately, the new law passed in late 2017 establishes more flexible withdrawal […]

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The 2019 Pay Raise – Ways to Save

Posted on Sunday, 24th February 2019 by Dennis Damp

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The President signed a spending bill fully funding the federal government through September of this year. The bill authorized a 1.9% pay raise for federal employees. It will take time for all of the agencies to load the updated tables into their system and we will post the new 2019 pay tables as soon as […]

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Is a Vacation Home in Your Future? (A Personal Perspective)

Posted on Sunday, 17th February 2019 by Dennis Damp

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Many retirees dream of a home away from home. The thought of having a place to escape to in the winter months, or during the summer for sun lovers, is enticing on many levels. Others consider a mobile home to explore this vast county in style and to visit the many attractions they heard so […]

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1099Rs Available Online Now!

Posted on Saturday, 19th January 2019 by Dennis Damp

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Normally, federal annuitants don’t received their 1099R Tax Forms by regular mail until the end of January or the beginning of February. If you are registered to use OPM’s Retirement Services Website your 1099R is now available for download. I visited the site on January 16, 2019 and was able to download my copy that […]

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Notice of Annuity Adjustment – Valuable Information

Posted on Friday, 11th January 2019 by Dennis Damp

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OPM sent out a notice of annuity adjustment in late December to all annuitants and survivor annuitants. I received mine on December 22. This document, the first for 2019, includes your new monthly payment resulting from our recent 2.8% COLA Adjustment. There’s a lot of important information included on this form and I keep them […]

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Direct Deposit Changes – Updated Procedures

Posted on Friday, 4th January 2019 by Dennis Damp

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Many retirees and survivor annuitants call OPM to change direct deposit information and become frustrated because they can’t get through, their line is busy most of the time. OPM services 2,113,414 federal annuitants, 523,737 survivor annuitants plus postal service retirees as well. It is easy to change monthly annuity payments from one financial institution to […]

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Stock Market Turmoil – What’s Next

Posted on Thursday, 6th December 2018 by Dennis Damp

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The wild stock market swings are heavy on the minds of investors today, especially for those approaching retirement and retirees living on a fixed income. It is even more problematic if you depend on Thrift Savings Plan (TSP) and other retirement account withdrawals.  Market volatility is uncomfortable to say the least when you see what […]

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Looking at the Numbers – The Second Time Around

Posted on Friday, 23rd November 2018 by Dennis Damp

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I wrote an article late last year titled “Where Are You Now! Looking at The Numbers” that helped readers evaluate their finances and determine if they had sufficient resources to live comfortably pre and post retirement. We provide extensive financial planning guidance to help anyone from a new hire to a retired annuitant evaluate and […]

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