Posted on Friday, 10th April 2020 by Dennis Damp
UPDATED 9/1/2024 OPM, as of May 2024, has an inventory of just over 14,000 claims to process. They received 6,751 claims in May and processed 8,793. There is a backlog of 15,797 applications waiting to be processed as of jULY 2024. It is now taking an average of 60 days to process retirement applications. Of […]
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Posted on Monday, 16th March 2020 by Dennis Damp
I’ve written many articles over the years, during good and bad times, focusing on preservation of capital for retirees and those close to retirement. A common sense approach to investing that protects the assets you accumulated during your career. Request Your Personalized Federal Retirement Report™ Today The recent stock market crash, due to the Coronavirus […]
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Posted on Sunday, 15th March 2020 by Dennis Damp
The Coronavirus is now center stage and deservingly so. This invisible antagonist has upended our world for the near term: schools and businesses closing, event cancelations – including literally all sporting events, the stock market on retreat, social distancing, and empty shelves at local stores. Request Your Personalized Federal Retirement Report™ Today Thankfully, we finally […]
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| Comments (0)Posted on Thursday, 5th March 2020 by Dennis Damp
The new Setting Every Community Up for Retirement Enhancement, the SECURE Act, was signed into law last December. There are significant changes to how our retirement savings are accessed and taxed. We all need to be prepared for this new reality and take the necessary steps to comply with the rule changes. Request a Federal Retirement […]
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Posted on Friday, 24th January 2020 by Dennis Damp
New retirees are subject to interim annuity payments and many don’t know what to expect when they first leave federal service. Federal employees must have sufficient cash available and be financially prepared when retiring to allow OPM to complete a final adjudication of their claim. Request a Federal Retirement Report™ today to review your projected annuity payments, income […]
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Posted on Wednesday, 22nd January 2020 by Dennis Damp
Our 1099R Tax Forms typically aren’t available until the end of January by regular mail. Registered users of OPM’s Retirement Services Website can download their 1099R now. I visited the site on January 22, 2020 and download my copy early to use with my 2019 tax return. Last year the 1099Rs were available for download […]
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Posted on Saturday, 11th January 2020 by Dennis Damp
In late December of each year federal retirees receive a Notice of Annuity Adjustment that provides abundant information for annuitants and their survivors. Any time your annuity payment is modified, for whatever reasons, OPM sends out a new notice outlining the change and the impact on your annuity. If a COLA is pending, health care […]
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Posted on Monday, 30th December 2019 by Dennis Damp
Those planning to retire soon will benefit from the pay raise in a number of ways. Primarily, your annual leave buy back will be at the new pay rate starting the first pay period of 2020. If you plan on staying another year or longer the raise will increase your high three average earnings that […]
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