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Over 70? Here’s One Tax Move You Don’t Want to Forget in 2016

ira-street-signIf you have savings in a tax-deferred retirement account such as a traditional IRA or 401(k), you’re required to start taking minimum distributions after you turn 70-1/2 years old. Here’s how to determine whether you’ve withdrawn enough yet and what you need to know about the RMD rules and penalties.

Required minimum distributions

Traditional IRAs, 401(k)s, and other tax-deferred retirement accounts have an excellent benefit — pay no taxes on some of your income now, allow your investments to grow tax-deferred, and only pay income taxes when you withdraw the money.

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National Guard Magazine: November 2016

The November 2016 edition of NATIONAL GUARD is available online.

Features:
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Less Virtual, More Reality 
Combat simulators save precious training resources, but they have limitations. Emerging technology offers some real solutions. By Cody Erbacher

Not Your Father’s Tents 
Simple canvas structures have long provided shelter for troops in the field. Not so much anymore. And even less so in the future. By William Matthews

Dry Run 
Guard Roots: A full Guard call-up a century ago ended up being little more than a long, large training exercise. By Bob Haskell

The National Guard Association of the United States
One Massachusetts Avenue, NW | Washington, DC 20001 | www.ngaus.org
P: 202.789.0031 | F: 202.682.9358 | newsletter@ngaus.org   

James “Mad Dog” Mattis, Retired USMC General, Favorite for SecDef

From the Air Force Magazine website

James "Mad Dog" MathisUS Central Command boss and legendary retired Marine Corps General James “Mad Dog” Mattis has emerged as the front-runner to be the next Defense Secretary, prompting praise from lawmakers that would need to waive rules to get him in the position. Mattis—who retired in 2013 as CENTCOM chief, previously led US Joint Forces Command, and was a famed combat leader in Iraq and Afghanistan—met with President-elect Donald Trump on Saturday.

Trump in a tweet said Mattis was “very impressive.” Senate Armed Services Committee Chairman John McCain (R-Ariz.) said in a Monday statement that Mattis is “one of the finest military officers of his generation,” and he hopes the general can have “an opportunity to serve America again.”  

Congress would need to waive a provision of the National Security Act of 1947, amended in 2008, that requires uniformed officers to be retired for seven years before they can lead the Pentagon. The requirement has been waived once before, when President Harry Truman nominated retired Army General George Marshall to be Defense Secretary in 1950.

Webmaster comments: if you’re wondering why he’s called “Mad Dog”, do an internet search for General James “Mad Dog” Mattis

AAFES Black Friday Sales

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The Army & Air Force Exchange Service will host several sales after Thanksgiving Day. The feast begins Black Friday with deals on electronics, jewelry, clothing and everything in between. Saturday’s savings include 50-inch Samsung 4K Smart TVs for $399; iPad mini 4s for just $249; Armitron analog/digital watches at 50 percent off; and Ninja Master Prep professional food processors for $39.

Online shoppers can save on Cyber Monday through Dec. 1 at ShopMyExchange.com. The online specials will be updated and changed daily throughout the holiday season.

Christmas Concert Ticket Sales

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Retirees should contact CMSgt William Parker, the Command Senior Enlisted Advisor to purchase tickets.  His contact information is william.parker.10@us.af.mil or (808) 672-1220.

Vietnam-Era Defense Secretary Mel Laird Dies at 94

From the Air Force Magazine website

melvin-lairdMelvin Laird, a former Defense Secretary who led the military through the midst of the Vietnam War, died November 16 at a hospital in Florida. He was 94.

Laird became President Richard Nixon’s Defense Secretary in January 1969. During his four-year tenure as the top military leader, Laird oversaw the drawdown of US forces in Vietnam from 540,000 to about 69,000. The Paris Peace Accords, which ended the war, were signed two days before Laird left office.

A Navy veteran who served in the Pacific during World War II, Laird also oversaw the end of the draft. “He was always particularly proud that he oversaw the successful transition to an all-volunteer force,” current Defense Secretary Ash Carter said in a statement.

“Through it all, he demonstrated an unfailing commitment to protecting our country, strengthening our military, and making a better world.” The F-15, F-16, A-10, and the Los Angeles-class nuclear submarine all were developed during Laird’s time at the Pentagon.

“Additionally, through an agreement to significantly cut conventional forces, Laird made new strategic weapons systems possible: the B-1 bomber, the Trident nuclear submarine, and cruise missiles,” according to DOD. A nine-term Congressman, Laird served as Chairman of the Republican House Minority and was a member of the House Appropriations Committee.

New Registered Readers 16.11.21

You can register to receive an email every time there is a new post. In the “Follow Retiree News via Email” section and press “Follow”. On the next screen, enter your email address and press ENTER. Shortly, you will receive a confirmation email to your address from WordPress.com. You acknowledge the email and you are a registered reader.

After you compete this short registration process, you get a notification email every time there is a new posting. The email has a quick teaser of the posting, along with tags that indicate how the posting relates to special topics/areas. There is a direct link to the website (Read more of this post)

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Thanks to these Retiree News readers who registered to “Follow Retiree News via Email”: alohabry, Teal Cross, oleed63, Gaye Araki

 

American’s Top Spy talks Snowden Leaks and Our Ominous Future

From the Wired Magazine website

On Thursday morning, November 17, James Clapper announced that he had submitted his letter of resignation. He will serve out the remaining 64 days of his term.

Public appearances don’t come easily to James Clapper, the United States director of national intelligence. America’s top spy is a 75-year-old self-described geezer who speaks in a low, guttural growl; his physical appearance—muscular and bald—recalls an aging biker who has reluctantly accepted life in a suit. Clapper especially hates appearing on Capitol Hill, where members of Congress wait to ambush him and play what he calls “stump the chump.” As he says, “I rank testimony—particularly in the open—right up there with root canals and folding fitted sheets.”

One of the things Clapper does profess to enjoy about his job is meeting with the men and women who make up his covert empire of 17 agencies, which range from brand names like the CIA, NSA, DEA, and FBI to lesser-known units like the Treasury Department’s Office of Intelligence and Analysis. As he has traveled the country and the world over his six years in office, he has hosted scores of town hall meetings with intelligence officers, analysts, and operatives. The events are typically low-key, focusing less on what’s in the news than on the byzantine and, to Clapper, almost soothing minutiae of the military-intelligence bureaucracy.

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Off Track: Hawaiian Moonshine Exists, And It’s So Good It’s Been Outlawed Twice

okolehaoPay attention, hipsters. This is the quirkiest artisanal liquor you’re ever going to find.

Meet okolehao — the lightly sweet, smooth and super potent Hawaiian moonshine that was so good, it was outlawed twice in the islands. After all, when you live on the world’s most remote landmass, you have to get creative with your alcohol.

Okolehao is made out of fermented juice from the root of the ti plant — a “canoe plant” the Polynesians brought to Hawaii centuries ago that they used for many things including leis, plates, sandals, medicine, and for steaming food wrapped in its leaves. It’s a starchy root, similar to a sweet potato.

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Thanksgiving Fire Safety

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Off Track: Facility 161

From the Images of Old Hawaii website

Facility (or building) numbers on military bases are generally assigned during the building planning process. It’s not like an address; the numbers are typically assigned chronologically to buildings as they are built on the base, location doesn’t determine the number.

Facility 161 is located at Pearl Harbor and is classified as a Recreation and Morale facility. It was originally comprised of three main components that were all classified as permanent uses.

It is a uniquely designed building, a sunken amphitheater with recreation facilities in an attached section (originally a portion of which was open-air) that is flanked by two elongated wings. This design utilizes natural ventilation and lighting. There is no other facility in Hawai‘i that shares this same design.

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Commissary Suppliers Irate Over New DeCA Price Demands

Congress first inserted commissary “reform” language in last year’s defense authorization bill, allowing for tests of variable pricing and private label brands at select stores. The fiscal 2017 defense bill moving toward final passage drops the notion of tests, at the urging of Defense officials, and gives DeCA full authority to turn commissaries from a benefit to a business.

DECA SealProduct buyers for the Defense Commissary Agency (DeCA) are becoming very unpopular with many grocery suppliers.

The buyers are confronting them with canned scripts written by retail experts at Boston Consulting Group and more precise price data on the products they’ve sold to commercial grocers than DeCA has had before.

This is allowing buyers to identify “performance gaps” of manufacturers or brokers by comparing prices they’ve given DeCA to even lower prices they’ve given to some commercial stores, at least at some point over the past year.

The tense “negotiation” begins when a supplier is told to contact a DeCA product category manager, either in person or by phone. One broker who did so said he was told an analysis of price scan data showed DeCA paid roughly $50,000 too much to stock a single food item over the past year.

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Taps: Barbara Yadao-Petti

barbara-l-yadao-pettiBarbara L. Yadao-Petti, spouse of Col (Ret) William “Bill” Petti, passed away on Sunday, November 6, 2016.  

Barbara was a key member of the Hawaii National Guard Family Readiness Program throughout the 1990s and up to Col Petti’s retirement in 2010. She served from the unit to state levels becoming an Air state team member for several years.  

Barb was active in attending conferences, assisting in the facilitation of seminars, participating in unit deployment out-processing and in-processing for both real world activities and exercises, and often volunteered to assist the full-time Family Readiness Group (FRG) staff on drill weekends.  

Barb also was involved with the active duty 15th Airlift Wing spouses group when her husband was operationally assigned to the 15th Maintenance Group in the 154th Wing’s first Total Force Integration (TFI) effort with the C-17 mission.

Senior leaders recognized Barb’s volunteerism and leadership with several state and Hawaii Air National Guard awards including back-to-back HIANG FRG Volunteer of the Year in the mid 2000s.

Barb’s services will be held at St. Jude Catholic Church, Kapolei, on December 7, 2016 with a viewing starting at 0900 and Mass at 1100.

Burial will be held a week later on December 14, 2016 at the Hilo Veteran’s Cemetery at 1200.


Webmaster comments: Retiree News rarely posts obituaries of non-Guard members, but Barbara Yadao-Petti was an exceptional person and a supporter of the Hawaii Guard. She and Bill were a team, starting when Bill was commissioned in the 80s. She was instrumental in the growth of family support groups in the Hawaii Guard. 

Aloha Pumehana Barb

Check Six: 50 Moments of Statehood

From the Honolulu Magazine website

Star-Bulletin photographer Albert Yamauchi captured this image of news carrier Chester Kahapea selling copies of the Honolulu Star-Bulletin on the day Hawaii became the 50th State. August 21, 1959. This photo epitomizes the joy and excitement of the day Hawaii became the last star on the US flag.

Star-Bulletin photographer Albert Yamauchi captured this image of news carrier Chester Kahapea selling copies of the Honolulu Star-Bulletin on the day Hawaii became the 50th State. August 21, 1959. This photo epitomizes the joy and excitement of the day Hawaii became the last star on the US flag.


As only Honolulu Magazine can do, they produced this 2009 article that covers the 50 great moments in Hawaii’s history since statehood.  A short paragraph on each momentous event.

It’s an interesting list of 50, subject to your own opinions.

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