Posted on Friday, 24th March 2023 by Kevin Moss
It’s a little early to start talking about health care open season. However, major Medicare Part D reforms were enacted in the Inflation Reduction Act of 2022 (IRA) that everyone needs to be aware of. Some of the legislation’s provisions seek to lower prescription drug costs for both Medicare beneficiaries and the federal government. Historically, […]
Tags: MA Plans, Medicare Part D, Prescription Drug Coverage
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Posted on Friday, 17th March 2023 by Dennis Damp
Savings bonds as featured in my article titled, “I and EE Savings Bonds – Safe, Simple, and Affordable” can be used to finance children’s education, supplement future retirement income, or save for a rainy day, all are backed by the full faith and credit of the United States. Many are unaware of the tax-free components […]
Tags: EE Bonds, I Bonds, Lost Savings Bonds, Savings Bonds, Tax Free Interest
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Posted on Friday, 10th March 2023 by Dennis Damp
Savings bonds received a boost in popularity last year due to their inflation indexed I-Bond’s exceptional interest rates, currently 6.89%. Far exceeding what most investments are paying today. Their previous six-month yield was 9.62%! A former associate reviewed savings bond interest rates for his payroll deduction purchases from 2001 to 2007. His 2001 bonds are […]
Tags: EE Bonds, I Bonds, Savings Bond Purchasing Limits, Savings Bonds
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Posted on Friday, 24th February 2023 by Dennis Damp
Forward this to others that may find this information helpful. Sign-up to receive my free Retirement Planning Newsletter. I receive many FEGLI insurance coverage questions throughout the year. Especially from those working on their retirement paperwork and require coverage clarifications. One subscriber recently asked if FEGLI is considered term insurance, if so, does the term […]
Tags: Federal Employee Benefits, FEGLI, Insurance
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Posted on Friday, 17th February 2023 by Dennis Damp
Forward this to others that may find this information helpful. They can sign-up to receive my free Retirement Planning Newsletter. On December 29, 2022, the Retirement Enhancement (SECURE) 2.0 Act of 2022 was signed into law. This second installation of the 2019 SECURE Act introduces several changes affecting the Thrift Savings Plan. This legislation will directly […]
Tags: Catch-Up Contributions, I Bonds, Secure Act 2.0, TSP, TSP RMDs
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Posted on Friday, 10th February 2023 by Dennis Damp
Forward this to others that may find this information helpful. They can sign-up to receive my free Retirement Planning Newsletter. According to Janet Yellen’s memorandum to congress the U.S. Treasury will be unable to fully invest the portion of the Civil Service Retirement and Disability Fund (CSRDF) not immediately required to pay beneficiaries beginning January 19, […]
Tags: Debt Ceiling, Debt Crisis, Government Spending, TSP Investments
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Posted on Friday, 3rd February 2023 by Dennis Damp
Forward this to others that may find this information helpful. They can sign-up to receive my free Retirement Planning Newsletter. 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 […]
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Posted on Friday, 20th January 2023 by Dennis Damp
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 […]
Tags: 1099 R Forms, Annuity Statements, OID Forms
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