fbpx

2020 COLA and the 2019 Health Care Open Season

Posted on Sunday, 15th September 2019 by Dennis Damp

Share

We can look forward to a COLA increase for 2020 of between 1.6% to 1.8%, a significant decrease from last year’s 2.8%. The Social Security Administration estimated a 1.8% increase and the July issue of Kiplinger magazine suggested it may be lower at 1.6% based on their projections. The Social Security Act specifies a formula […]

Posted in

| Comments (0)

Returning to Work – Rehired Annuitants

Posted on Sunday, 1st September 2019 by Dennis Damp

Share

I often receive questions from retirees desiring to return to work and from agency HR departments interested in hiring former federal employees.  Agency recruiters are trying whatever they can to fill critical positions.  With an unemployment rate of 3.7% the country is at full employment. One of the ways to fill critical positions is to […]

Posted in

| Comments (0)

Should I Defer Social Security Until Age 70?

Posted on Saturday, 10th August 2019 by Dennis Damp

Share

Many think why wait, I don’t know if I’ll live to 70! Others simply need their benefit at 62 just to make ends meet. For those who are healthy and have several decades of retirement to look forward to, and have sufficient income to see them through those early retirement years, it makes sense to […]

Posted in

| Comments (0)

Protecting your Assets with Fixed Income Investments

Posted on Sunday, 28th July 2019 by Dennis Damp

Share

Those approaching retirement and retirees often move to more conservative investments to avoid losing what they worked a lifetime to accumulate.  Many federal retirees live on fixed income from their annuity, Social Security, and Thrift Savings Accounts.  We only have a finite time on this earth and the older we get the less time we […]

Posted in

| Comments (0)

Flexible Spending Accounts (FSA)

Posted on Sunday, 21st July 2019 by Shawn McCoy

Share

I would like to welcome Shawn McCoy, President and Founder of Federal Employee Benefits Advocates, LLC (FEBA) an educational and training company, to our guest forum.  Mr. McCoy is an expert on Federal employee benefits and has spoken to over 19,000 Federal employees over the last 10 years.  This is his first of many artilces […]

Posted in

| Comments (0)

A Marriage of Convenience – Medicare & FEHB

Posted on Thursday, 11th July 2019 by Dennis Damp

Share

Many approaching 65 ask, “Why shouldn’t I simply sign up for Medicare A and B and cancel my FEHB plan?” They believe at first glance that Medicare A & B duplicates what our Federal Employees Health benefits (FEHB) plans provide. I reply to this question many times throughout the year and refer those asking to […]

Posted in

| Comments (0)

FERS Supplement Update – Are You Eligible

Posted on Thursday, 13th June 2019 by Dennis Damp

Share

There are many things to consider when determining your FERS retirement benefits. If you meet certain requirements, you will receive a Special Retirement Supplement which is paid until you reach age 62. This supplement is similar to the Social Security benefit earned while you were employed by the Federal government. However, since the formula for […]

Posted in

| Comments (2)

Managing Your Required Minimum Distributions (RMDs)

Posted on Saturday, 18th May 2019 by Dennis Damp

Share

Those approaching age 70 ½ and older are often perplexed about their Thrift Savings Plan RMD withdrawal options and how to efficiently manage the transaction’s proceeds. Some of the concerns are your TSP balance decreases with each withdrawal, annual income and taxes increase, and the earned income potential vanishes for the cash you now have […]

Tags: ,
Posted in

| Comments (0)

Terms Of Use