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No Time Like the Present – Updates & Blue Book Availability

Posted By Dennis Damp On In ANNUITIES / ELIGIBILITY,BENEFITS / INSURANCE,ESTATE PLANNING,FINANCE / TIP,RETIREMENT CONCERNS,SOCIAL SECURITY / MEDICARE,SURVIVOR INFORMATION | Comments Disabled
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Updated 5-10-2025

Forward this to others who may find this information helpful.
They can sign up to receive my free Retirement Planning Newsletter [2].

It’s a good time for those planning their retirement to assess their financial situation [3] and take the necessary steps to secure their future. Federal employees have received higher cost-of-living adjustments (COLAs [4]) over the past few years, including an 8.7% increase for CSRS and a 7.7% increase for FERS employees in 2023.

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Thrift Savings Plan Considerations

Contributions

The Thrift Savings Plan (TSP) [6] elective deferred contribution limit for 2025 is $23,500 for FERS employees, with an additional $7,500 catch-up contribution available for those aged 50 and over. If you aren’t currently contributing up to these limits, consider increasing your TSP contributions this year by at least one or two percent of your pay. Even with inflation continuing to soar, now is the time to invest prudently for your future. Your take-home pay will still increase year to year with this modest contribution increase.

Under a change made in SECURE 2.0 Act, a higher catch-up contribution limit applies for employees aged 60, 61, 62, and 63 who participate in these plans. For 2025, the higher catch-up contribution limit is $11,250; these contributions can reduce your annual income tax while you are still working.

Social Security Tax Limit and Medicare Premiums

Higher earners will pay Social Security taxes in 2025 on earnings up to $176,000, and Medicare premiums for Part B [7] increased slightly this year to $186.00 per month for most who have signed up for Part B.




BLUE Book (Benefit Summary Booklet) – Updated 5-10-2025

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Request an updated retirement benefits booklet through https://www.servicesonline.opm.gov [9]. All retirees receive a comprehensive multi-page pamphlet titled “Your Federal Retirement Benefits” from OPM when they retire. My booklet is 28 pages long. Request your updated copy by selecting the Document Section, the last item listed on the Dashboard’s main menu, and clicking on “Request Booklet.” You now have the option to request a download version to expedite delivery.

If you haven’t signed up for OPM’s Online Services, follow the sign-on guidance in my article titled “OPM Services Online Access Changes.” [10] Their website’s document section also provides quick access to your 1099-R forms and downloadable annual and monthly annuity statements.

Many annuitants order a copy each year with their updated benefits information and place the booklet in their retirement or estate planning file. If you lost your original copy, request a copy of the original booklet you received when you first retired to compare it to the most current version.

This booklet is a wealth of information, including personal statistics such as your CSA number, monthly benefit, survivor benefits, life insurance elections, contributions, and tax information. It also provides details on how to contact OPM, COLA adjustments, and other relevant information, as well as instructions on updating your address.

If you haven’t signed up for OPM’s Services Online, you can still request a copy from OPM by calling 1-888-767-6738. However, be aware of long wait times, and they occasionally use an automated reply that states, “We are receiving an extremely high call volume; please call back later.”

You can email them at retire@opm.gov [11] or send a written request to the U.S. Office of Personnel Management, 1900 E Street, NW, Washington, DC 20415-1000. I sent OPM an email last month to confirm it was still usable; they replied back a week later, stating, “You may direct your questions to this email. Please be sure to include your CSA number, name, and details of how we can help you.” OPM advises, “The internet is not a secure environment for transmitting personal information via email.”

Helpful Retirement Planning Tools

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Disclaimer: The information provided may not cover all aspect of unique or special circumstances, federal regulations, medical procedures, and benefit information are subject to change. To ensure the accuracy of this information, contact relevant parties for assistance including OPM’s retirement center. Over time, various dynamic economic factors relied upon as a basis for this article may change.

The advice and strategies contained herein may not be suitable for your situation and this service is not affiliated with OPM or any federal entity. You should consult with a financial, medical or human resource professional where appropriate. Neither the publisher or author shall be liable for any loss or any other commercial damages, including but not limited to special, incidental, consequential, or other damages.

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