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2023 COLA Projections and Treasury Rates Rising

Posted on Friday, 22nd July 2022 by Dennis Damp

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No matter where we look today, costs are rising as fast as the early 1980s. I remember those days well; mortgage rates were double digit and inflation followed suit. We are fast approaching those lofty levels, a record we don’t want to breach. 2023 COLA PROJECTIONS According to Wilbert J Morell III, a retired Navy […]

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FEHB Open Season for 2023 Plans– Higher Costs on the Horizon

Posted on Saturday, 16th July 2022 by Dennis Damp

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The 2022 FEHB Open Season will run from November 14, 2022 through December 12, 2022. Open Season starts every year on the Monday of the second full work week in November and ends on the Monday of the second full work week in December. OPM sent a FEHB Program Carrier Letter to all FEHB providers […]

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ALERT – OPM Services Online Access Changes

Posted on Friday, 27th May 2022 by Dennis Damp

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Retirees use OPM Services Online to start, change or stop federal or state income tax withholdings; download 1099-R forms, change your mailing address, start or change direct deposits and view annuity payments. This system is available to those under the Civil Service Retirement System (CSRS), Federal Employees Retirement System (FERS), FERS Special, or the Organization […]

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I Bonds Yield 9.62% While the Sky is Falling!

Posted on Friday, 6th May 2022 by Dennis Damp

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Wild stock market swings and volatility in all sectors is causing investors to pause. Our retirement accounts are on the block and as inflation continues on its rampage, investors seek safe harbors to wait out the storm. Unfortunately, we are in for quite a ride. Our recent trip down south was an eyeopener every time […]

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2023 COLA – Up, Up, and Away

Posted on Friday, 29th April 2022 by Dennis Damp

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We can expect another significant COLA increase in 2023 if inflation continues on its current path or if we move to what economists call stagflation. According to the Senior Citizens League, the 2023 COLA could be as high as 8.9%; the largest increase since 1981 when it was 11.2%; in 1980 it was 14.3%! There […]

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Ditch your Bank’s Low Savings Rates / T-Bills Rising

Posted on Friday, 25th March 2022 by Dennis Damp

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Investment Rates Updated 5/22/2022 Currently, even after the recent Federal Reserve’s interest rate hike, my bank reduced their savings rate from .05% to .04%!  Makes no sense except for the banks, they loan our money out at much higher rates and we fund their huge profits. Bank CEOs brag about their astronomical client deposits and […]

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Skyrocketing Inflation – Are You Prepared?

Posted on Friday, 4th March 2022 by Dennis Damp

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Everyone must prepare to maintain their standard of living in retirement.  Retirees from all sectors and those still working feel the wrath of this unrelenting force that constantly impacts our day to day lives. The progression of this financial endemic (inflation) is always upon us. At times, and when the economy is on a sound […]

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COLAs, I Bond Interest, and Leaving Federal Service for the Private Sector

Posted on Sunday, 23rd January 2022 by Dennis Damp

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I’ve received a number of questions ranging from COLAs and I Savings Bond interest, to the impact on a federal employee’s annuity if they retire early or take a deferred retirement.  You may find this information helpful. COLAs and the FERS Supplement FERS employees retiring with a Special Supplement should be aware of their limitations. […]

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