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Updated Guidance, Clarifications, & Observations

Posted on Friday, 23rd February 2024 by Dennis Damp

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I’ve written hundreds of articles for our newsletters and blogs and updated our Federal Employee’s Retirement Planning Guide frequently over the past 20 years. Even though we update our sites as needed, our blogs, newsletters, and at times our websites are time sensitive. Due to federal regulations, benefits, and financial planning guidance changes, over time, […]

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Tax Forms Availability and Annuity Statements

Posted on Friday, 26th January 2024 by Dennis Damp

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The Social Security Administration was the first to send out forms again this year.  Our 1099 R Tax Forms typically aren’t available until the end of January to early February by regular mail. Registered users of OPM’s Retirement Services Website can download their Annuity Statement and 1099 R forms now. 1099 Forms I received my […]

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TSP RMDs & Withdrawals Plus Site Navigation Tips

Posted on Friday, 19th January 2024 by Dennis Damp

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I was required to take my first RMD at age 70 ½ several years ago before the laws were changed. Under the SECURE 2.0 Act in 2023 the required withdrawal age increased to 73. Several newsletter subscribers asked for an update on TSP annuities, RMDs, and withdrawals in general. Rachel stated, “While the new TSP […]

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Preparing for the New Year – 2024 Updates

Posted on Friday, 5th January 2024 by Dennis Damp

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It’s the beginning of a new year and a good time for those planning their retirement to assess where they are financially, long before filing their retirement paperwork. Federal employees received a significant pay increase this year, 5.2% on average after factoring in locality pay. The 2024 pay charts are available for your review. COLA […]

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2023 in the Rear View Mirror – Observations and Updates

Posted on Friday, 15th December 2023 by Dennis Damp

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I like to close out each year with a few last-minute updates and observations. My next article won’t be published until early January. Time to celebrate the holidays and just sit back and relax awhile. The Clock Keeps Ticking – Thankfully The older I get, the faster time flies by. In our youth most couldn’t […]

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MA Plans and the Prescription Drug Plan – Continued

Posted on Friday, 1st December 2023 by Dennis Damp

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I’ve spent most of my time evaluating our health care options this past two months. This year’s focus was on the new Medicare Advantage (MA) plans offered by GEHA and the Medicare Prescription Drug Plan (MPDP) offered by Blue Cross and Blue Shield and 16 other providers. So much to consider and research before staying […]

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Comparing FEHB Plans to their Medicare Advantage (MA) Option

Posted on Friday, 24th November 2023 by Dennis Damp

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This article compares the Government Employees Health Association (GEHA) Standard Plan to their new MA Option. You will have to review the specific plan of interest to ensure it covers the services you need for the upcoming year.   Open season closes December 11, we have less than two weeks to decide whether to stay […]

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2024 FEHB Plan Selection Guide – Which Plan is Best for YOU

Posted on Friday, 17th November 2023 by Dennis Damp

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  Open season runs from November 13th through December 11th.  There are tools available to evaluate provider options, select your 2024 plan, and submit changes to OPM. Use the following resources to make an informed decision for you and your family’s health care needs. Forward this article to others that can use this “Open Season” […]

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