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Thrift Savings Plan (TSP) Changes – Secure Act 2.0 + Updates

Posted on Friday, 17th February 2023 by Dennis Damp

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Forward this to others that may find this information helpful. They can sign-up to receive my free Retirement Planning Newsletter. On December 29, 2022, the Retirement Enhancement (SECURE) 2.0 Act of 2022 was signed into law. This second installation of the 2019 SECURE Act introduces several changes affecting the Thrift Savings Plan. This legislation will directly […]

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Debt Ceiling Impact on TSP Investments + Updates

Posted on Friday, 10th February 2023 by Dennis Damp

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Forward this to others that may find this information helpful. They can sign-up to receive my free Retirement Planning Newsletter. According to Janet Yellen’s memorandum to congress the U.S. Treasury will be unable to fully invest the portion of the Civil Service Retirement and Disability Fund (CSRDF) not immediately required to pay beneficiaries beginning January 19, […]

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No Time Like the Present – Updates & Blue Book Availability

Posted on Friday, 3rd February 2023 by Dennis Damp

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Forward this to others that may find this information helpful. They can sign-up to receive my free Retirement Planning Newsletter. It’s the beginning of a new year! A good time for those planning their retirement to assess where they are financially, and take the necessary steps to secure their future. Federal employees received a significant pay […]

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Annuity Statements and 1099 R Tax Form Availability

Posted on Friday, 20th January 2023 by Dennis Damp

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Federal annuitants typically receive their updated Annuity Statement, with the COLA increase added, early January. OPM’s 1099 R Tax Forms aren’t available until the end of January by regular mail while my Social Security’s SSA 1099 from was received January 10th! Download Your Forms Now Registered users of OPM’s Retirement Services Website can download their Annual Annuity […]

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The December CPI and Fixed Income Updates

Posted on Saturday, 14th January 2023 by Dennis Damp

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The December 2022 Consumer Price Index (CPI) dropped .1%, the first drop in the CPI since December of 2020. A sign that inflation may be improving slightly. However, year over year inflation was 6.5%, still high by any standard. Wages, consumer goods, food, and housing remain high. The Federal Reserve is expected to continue increasing […]

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The Current State of Affairs and Reflections 2022

Posted on Friday, 6th January 2023 by Dennis Damp

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Forward this to others that may find this information helpful. They can sign-up to receive my free Retirement Planning Newsletter. According to Gallup, three-quarters of Americans, including majorities of all party groups, are dissatisfied with the nation’s direction. The Current State of Affairs Many reading my column are seniors or those fast approaching that milestone. Everyone, […]

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Preparing for the New Year – 2024 Updates

Posted on Thursday, 5th January 2023 by Dennis Damp

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It’s the beginning of a new year and a good time for those planning their retirement to assess where they are financially, long before filing their retirement paperwork. Federal employees received a significant pay increase this year, 5.2% on average after factoring in locality pay. The 2024 pay charts are available for your review. COLA […]

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RMDs, Annuity Statements and 1099Rs Are on Their Way

Posted on Friday, 16th December 2022 by Dennis Damp

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Yes Virginia, there is a Santa Clause. This time of year, the Thrift Savings Plan (TSP) sends out participant’s Required Minimum Distributions (RMDs), and in early January our annuity statements will arrive reflecting an 8.7% for CSRS and 7.7% FERS COLA increase. RMDs The first year you are 72 or older and separated from service […]

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