Posted on Friday, 2nd March 2012 by Dennis Damp
This May the Thrift Savings Plan is launching a new investment option that provides more flexibility for TSP participants. Federal employees and military members will be able to allocate their contributions between a Roth and the traditional plan shortly. The flexibility is in the tax treatment of the employee’s contributions and it may be beneficial […]
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| Comments (0)Posted on Sunday, 26th February 2012 by Paul Risser
Meeting your obligations & finding some opportunities. Presented by Paul H. Risser After you turn 70½, the IRS requires you to withdraw some of the money in your retirement savings accounts each year. These withdrawals are officially called Required Minimum Distributions (RMDs).1 While you never have to make withdrawals from a Roth IRA, you must […]
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| Comments (0)Posted on Friday, 3rd February 2012 by Dennis Damp
For those of you not yet retired this is good to know information. A 1099-R is what retirees receive from OPM for filing your taxes. It lists your gross and taxable annuity amounts, federal and state tax withholding, healthcare premiums, and other relevant information. If you are retired and haven’t received your 1099-R yet you […]
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| Comments (0)Posted on Friday, 20th January 2012 by Dennis Damp
We received a question from a federal employee concerning credit for temporary service. Linda was hired as a temporary employee in 1985 and two years later she was hired full time. Last April she bought back her two years of temporary service and her SCD has not changed on her Employee Express Benefits Statement. She […]
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Posted on Friday, 13th January 2012 by Paul Risser
If your loved ones have invested, saved or insured themselves to any degree, you may be named as a beneficiary to one or more of their accounts, policies or assets in the event of their deaths. While we all hope “that day” never comes, we do need to know what to do financially if and […]
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| Comments (0)Posted on Monday, 26th December 2011 by Dennis Damp
It has been a busy year; from changing FEHB providers to new business ventures, an operation, travels, and more. One of the most significant for me and my wife was switching from Blue Cross Blue Shield Basic (BCBS) to the Government Employees Health Association (GEHA) Standard option during the FEHB open season. When I retired […]
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Posted on Saturday, 26th November 2011 by Dennis Damp
Rosemary, a subscriber to our Retirement Planning News Letter, asked for clarification for requesting FEHB open season plan brochures on OPM’s new web site. I mentioned that the web site was easy to use in my article on the FEHB Open Season last week. She visited the site and was confused by the numbers that […]
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| Comments (0)Posted on Friday, 18th November 2011 by Dennis Damp
The Office of Personnel Management expects a number of agencies to request VERA and VSIP authority in FY 2012 after appropriations are finalized. Agencies may face substantial budget cuts next year according to the OPM director. OPM is expediting requests for VSIP and early-outs and formed a special team to assist agencies with their requests. […]
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