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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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TSP Site Access Update & the Mutual Fund Window

Posted on Friday, 1st July 2022 by Dennis Damp

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Retirement account access is critical for those who need to change fund allocations, withdraw funds, add or change beneficiaries, or process other actions such as requesting an RMD. Many Thrift Savings Plan (TSP) account holders encountered major problems when trying to login to the new site. Some spent days working to regain access and were […]

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Treasury Bills & COLA Updates – Yields Rising Dramatically

Posted on Friday, 17th June 2022 by Dennis Damp

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I described the advantages of Treasury bills in “Ditch your Bank’s Low Savings Rates” last March. They provide higher yields for savers; if you ladder your investments a portion of your savings will be available at set intervals throughout the year. I’ve gone through several reinvestment cycles since starting treasury bill ladders earlier this year. […]

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NEW TSP SITE UP AND RUNNING – Give it a try!

Posted on Friday, 3rd June 2022 by Dennis Damp

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The Thrift Savings Plan (TSP) has updated their site and requires all account holders to establish a new login to regain access to their account. I was able to sign into my new TSP account on Thursday June 2nd without incident. Their updated site is now up and running. However, you may have problems accessing […]

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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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CAUTION – PREPARE FOR THE TSP TRANSISTION

Posted on Friday, 13th May 2022 by Dennis Damp

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The TSP is updating their website and adding new investment choices. A short summary follows along with steps to take now that will familiarize you with the pending changes. If you were planning to initiate a new withdrawal or any changes to your investments from May 26th through the first week of June, you won’t […]

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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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