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2012 Changes, Temporary Service Credits, & Updates

Posted on Friday, 20th January 2012 by Dennis Damp

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We received a question from a federal employee concerning credit for temporary service. Linda was hired as a temporary employee in 1985 and two years later she was hired full time. Last April she bought back her two years of temporary service and her SCD has not changed on her Employee Express Benefits Statement. She […]

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Retirement Precautions, TSP Changes, Updates, and Retiree Jobs

Posted on Friday, 6th January 2012 by Dennis Damp

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Recently OPM clarified a number of issues around interim annuity payments and what retirees can expect when they first leave federal service. It is essential that federal employees have sufficient cash available and are financially prepared when retiring to allow OPM to complete a final adjudication of their claim. OPM is now processing applicants in […]

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Military Credits Increase Retirement Pay – Buying Back Time

Posted on Tuesday, 18th October 2011 by Dennis Damp

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FERS retirees with Post 1/1/57 military service will not receive credit or annuity computation for their military time without making a deposit. If a deposit is made, the employee will receive credit towards his/her annuity computation.  Under CSRS rules, if you served on active duty and will be eligible at age 62 to collect Social […]

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Is A Voluntary Early Retirement (VERA) in Your Future?

Posted on Tuesday, 26th July 2011 by Dennis Damp

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Updated 2/10/2024 When I attained 25 years of service at age 44, I felt a great sense of relief. I knew that with 25 years of creditable service I would at least be eligible for an early retirement, and I could apply for a VERA and VSIP if offered. The FAA received VERA authority in […]

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How to Avoid a Retirement Nightmare and Retiree Job Opportunities

Posted on Thursday, 7th July 2011 by Dennis Damp

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How to Avoid a Retirement Nightmare We continue to receive reports of significant OPM retirement paperwork processing delays and insufficient partial interim pension payments. A site visitor sent a frantic message to us last week asking for assistance after receiving notice from OPM that he will receive an interim payment of 30% of his full […]

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TSP Conversions, I Bonds Revisited & Updates

Posted on Monday, 20th June 2011 by Dennis Damp

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TSP Conversions and Taxes The key to what taxes, if any, are due is in the type of IRA that you wish to convert to.  When you rollover any investment account that hasn’t yet been taxed (TSP, traditional IRA, 401k) to an after-tax investment account, such as a Roth IRA, taxes must be paid to […]

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Six Years and Counting, Social Security Supplements, TSP penalties, & More

Posted on Thursday, 26th May 2011 by Dennis Damp

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Six years and Counting I’ve been retired 6 ½ years now and just turned 62… I’m eligible for SOCIAL SECURITY!!! I attended my nephew’s graduation party last week and for the first time understand how my aunts and uncles felt during similar events back in the 60s, 70s and 80s. Now Mary and I are […]

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How the National Debt Negatively Impacts Retirees & Updates

Posted on Tuesday, 3rd May 2011 by Dennis Damp

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We haven’t received COLAs because gas, utilities, food, health care premiums, tuition, and airfares haven’t increased for two years now; RIGHT? Are you paying less for much of anything these days! The inflation rate would equal 10% or higher if the Consumer Price Index (CPI) included food and fuel increases like it did in the […]

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