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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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FEHB Medicare Advantage Plans – What You Need to Know

Posted on Friday, 2nd December 2022 by Dennis Damp

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For most federal annuitants, FEHB Medicare Advantage (MA) plans will be the cheapest option next year. They combine low out-of-pocket healthcare expenses—sometimes $0 besides prescription drugs— with a Part B premium reduction. We’ll cover how they work, how much money you can save switching from popular FEHB plans, and who shouldn’t join an FEHB MA […]

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The FEHB Open Season Conundrum, Selecting the Best Plan

Posted on Friday, 25th November 2022 by Dennis Damp

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Please forward this to all federal employees, annuitants, and survivors Each year we publish numerous articles about the current open season’s (FEHBs) available plans, and we send out an updated “Open Season Selection Guide.” We also publish various FEHB plan comparisons, point out coverage concerns, new plan features, and relay the concerns of our readers […]

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2023 FEHB Plan Selection Guide

Posted on Friday, 11th November 2022 by Dennis Damp

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Forward this article to others that can use this “Open Season” information. Open season runs from November 14th through December 12th.  Our Federal Employee’s Health Benefit (FEHB) plan premiums increased an average of 7.2%! There are tools available to evaluate provider options, compare costs, select your 2023 plan, and submit changes to OPM. Use the […]

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Updated Federal Retiree’s Master Contact List

Posted on Friday, 4th November 2022 by Dennis Damp

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Please forward this to other retirees and those planning their retirement. Murielle, one of our newsletter subscribers, suggested we update our Federal Retiree’s Master Contact List. The last update was in 2019; we made a number of changes and additions to enhance its usefulness. You will find key contacts for OPM, Medicare, Social Security, the […]

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2023 Leave Chart & Schedule Tracker Now Available

Posted on Friday, 21st October 2022 by Dennis Damp

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Each year we publish a comprehensive leave record that federal employees can use to track their annual and sick leave, comp, and credit hours used. Our updated 2023 Excel Leave Chart is designed for active federal employees that are planning their retirement and need to establish realistic target retirement dates. This spreadsheet also helps federal […]

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Caution – Beneficiary Designation Alert

Posted on Friday, 14th October 2022 by Dennis Damp

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Please forward this alert to others that may need to review their beneficiary designations. A site visitor contacted us about her husband’s untimely death. He died the day before he was scheduled to retire from federal service. His wife was notified by a HR specialist that she might not receive any of her husband’s retirement […]

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