Posted on Saturday, 10th August 2019 by Dennis Damp
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 […]
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Posted on Sunday, 28th July 2019 by Dennis Damp
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 […]
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Posted on Sunday, 21st July 2019 by Shawn McCoy
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 […]
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Posted on Thursday, 11th July 2019 by Dennis Damp
Updated 11/11/2024 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 and B duplicate what our Federal Employees Health Benefits (FEHB) plans provide. I reply to this question many times throughout the year and refer those […]
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Posted on Thursday, 13th June 2019 by Dennis Damp
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 […]
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Posted on Saturday, 18th May 2019 by Dennis Damp
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 […]
Posted on Friday, 10th May 2019 by Dennis Damp
I have two short updates to cover before starting Trust but Verify. First, Joe wrote after reading It’s Time to Get Real that you need to check your individual state’s document requirements when applying for the new REAL ID. Your State may require different forms of ID and residency documentation than what Pennsylvania requires. He […]
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| Comments (0)Posted on Saturday, 27th April 2019 by Dennis Damp
Most sign up long before age 70 for a myriad of reasons. I decided long ago that I would defer my benefit until I absolutely had to apply. Next month I start collecting Social Security at age 70 and can’t believe the time has come so quickly, yet I look forward to reaching this milestone. […]
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