Posted on Wednesday, 2nd March 2016 by Dennis Damp
Social Security File & Suspend I discussed in a recent column the process my wife and I went through to file and suspend my Social Security benefits. I did this so that my wife will now be able to collect a spousal benefit while I deferred collecting until age 70 and my benefit will increase […]
Posted in
Posted on Saturday, 13th February 2016 by Dennis Damp
Recently one of our newsletter subscribers asked me to explain how the Government Pension Offset (GPO) impacts a married couple, one retiring under CSRS and the other under FERS. The husband will retire under CSRS and his wife is a FERS employee. He also wanted to know if his wife’s social security will be penalized […]
Posted in
Posted on Wednesday, 27th January 2016 by Dennis Damp
I typically purchase Intuit TurboTax Home & Business software in mid December each year to start working on our income taxes. I was able to download my Statement of Annuity Paid (1099 R Form) direct from OPM’s retirement services web site on January 17th! Typically retirees receive these forms in the mail by the end […]
Posted in
Posted on Friday, 15th January 2016 by Dennis Damp
As of January 1, 2016, FEGLI premiums for many options and age brackets changed due to actuarial adjustments. Annuitants that carried FEGLI coverage into retirement will receive a Notice of Annuity Adjustment showing the new rates. Most of the new FEGLI rates for Option A, B and C decrease. The older age band rates for […]
Posted in
Posted on Tuesday, 15th December 2015 by Dennis Damp
I receive email messages from retirees and survivors each year that can’t find their CSA claim number and are uncertain as to what benefits they elected when they retired. At least once a year we receive a Notice of Annuity Adjustment, shortly after the new year starts, that provides abundant information for annuitants and their […]
Posted in
Posted on Sunday, 29th November 2015 by Dennis Damp
On November 2, 2015 the President signed HR-1314, the “Bipartisan Budget Act of 2015.” This law eliminated the file and suspend option for most Social Security applicants and changed the restricted application rules. These filing strategies allowed couples to increase their lifetime total payout. If you are now at full retirement age and planning to file and suspend you have […]
Posted in
Posted on Wednesday, 18th November 2015 by Dennis Damp
I received a number of messages from active federal employees that were not able to get into Employee Express to make FEHB plan changes. Retirees using OPM’s FEHB Open Season Online are getting through and able to request hard copies of brochures and make plan changes. Employee Express is managed by OPM and employees are […]
Posted in
Posted on Tuesday, 10th November 2015 by Dennis Damp
This open season has created confusion for many especially issues concerning the new FEHB Self Plus One option. OPM’s Open Season Health Benefits Guide has left many questioning whether or not they will leave their spouse without coverage when they die if they change to the Self Plus One option. When I first discovered the […]
Posted in
 |
 |
 |
|
||
 |
|
 |
|
||