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Thread: PessOptimist's Retirement Story

  1. #25

    Default Re: PessOptimist's Retirement Story

    Get What's Yours - read this before making any decisions.
    Amazon.com: get what's yours

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  3. #26

    Default Re: PessOptimist's Retirement Story

    "Now a question about the actual nuts and bolts. I know that my first payment will be the fourth Wednesday of the month following the month I first start receiving benefits. What seems uncertain is what month that is. If I apply in May will I receive the payment in June or July?"



    Hello PO, In response to your question, my BD is in December, I retired 1-2-2014. I received my first SS check fourth Weds of Feb., 2014 which I believe was for Jan. 2014. Hope this helps!

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  5. #27

    Default Re: PessOptimist's Retirement Story

    Quote Originally Posted by Scout333 View Post
    "Now a question about the actual nuts and bolts. I know that my first payment will be the fourth Wednesday of the month following the month I first start receiving benefits. What seems uncertain is what month that is. If I apply in May will I receive the payment in June or July?"



    Hello PO, In response to your question, my BD is in December, I retired 1-2-2014. I received my first SS check fourth Weds of Feb., 2014 which I believe was for Jan. 2014. Hope this helps!
    Sorry I didn't really answer your question. My guess is July if you applied in May. June would be your first full month of retirement. SS payments are made for retirement months in arrears.


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  7. #28

    Join Date
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    Default Re: PessOptimist's Retirement Story

    Nothing has really changed in my plans. End of 2017. Take no annual leave in 2017. Sell back 448 hours.

    I was recently reminded of one individual who figured it all out and extended his initial retirement date to take his annual leave while still employed. His rationale was he accrued annual leave while on annual leave, still had the same FEHB and “other benefits”. I think the plan was he carried over 240 hours at the end of the leave year and while on “terminal leave” he would accrue 24 hours of annual leave to use (extending retirement date by three days) or sell back. Check my math 240/80=3 pay periods*8 hours=24 hours annual. Plus he backed up from the end of the leave year to use the 208 he earned the prior year so was on about 11 weeks of terminal leave while still employed. He was CSRS so maybe something else influenced it. Sounds like it was a lot of work to figure it out. Comments please?

    My MAIN reason for posting is that in the last couple of weeks three people in my chain have asked about my projected retirement date. I have previously made this known to them. They all stated they were just confirming and two of them said something like “we would love to have you stay longer”. Must have been something that came up in a meeting they had. Why would they want me to stay longer and why mention it more than two years out?

    These people WERE NOT my supervisor who has to be a GS-whatever manager. It might be interesting to hear what my supervisor has to say during my annual review. I made my plans known to my previous supervisor and current one when that supervisor was acting for my old supervisor. Confused yet?

    Bottom line-why did these questions and comments come out of the blue? Am I really valuable or does my FTE go away when I retire and they are wanting to keep it while negotiating? It’s more than two years out. Are they trying to plan FY 2018?

    Sticking around for an additional year if I can health wise (including mental health) would put me over my SS retirement age before I start collecting SS. That might get me a whopping $180 per month. Plus an extra years income. Plus TSP matching. Plus the FERS multiplier increases. Plus my high three might increase.

    Comments needed.

    Happy retirement planning everyone.

    PO

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  9. #29

    Join Date
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    Default Re: PessOptimist's Retirement Story

    Hi PO:

    Nothing has really changed in my plans. End of 2017. Take no annual leave in 2017. Sell back 448 hours.

    COMMENT: SUPER. You have a date and a plan.

    I was recently reminded of one individual who figured it all out and extended his initial retirement date to take his annual leave while still employed. His rationale was he accrued annual leave while on annual leave, still had the same FEHB and “other benefits”. I think the plan was he carried over 240 hours at the end of the leave year and while on “terminal leave” he would accrue 24 hours of annual leave to use (extending retirement date by three days) or sell back. Check my math 240/80=3 pay periods*8 hours=24 hours annual. Plus he backed up from the end of the leave year to use the 208 he earned the prior year so was on about 11 weeks of terminal leave while still employed. He was CSRS so maybe something else influenced it. Sounds like it was a lot of work to figure it out. Comments please?

    COMMENT: I retired CSRS in 2006 and noted that many federal workers under CSRS did similar things during their last quarter to use leave they would otherwise lose. If you are CSRS, and planning to leave at the end of the fiscal year or calendar year, your scenario sounds like a good use of annual leave if you will otherwise lose those benefits. If you are somehow able to treat them as leave that can add to your Time In Service, I'd calculate the benefits under that scenario before making a decision. For example, I don't believe FERS employees were able to make use of SL in their calculations like the CSRS folks. In some cases, I think annual leave was somehow converted to leave for purposes of retirement computation; but it's been a long time and I don't remember the details.

    My MAIN reason for posting is that in the last couple of weeks three people in my chain have asked about my projected retirement date. I have previously made this known to them. They all stated they were just confirming and two of them said something like “we would love to have you stay longer”. Must have been something that came up in a meeting they had. Why would they want me to stay longer and why mention it more than two years out?

    COMMENT: If they are preparing the OMB Budget for 2017, they may also be cushioning their FTE count for the outyears (2018-2021). If you are staying, they get to use your salary and benefits for budget projections, which are likely higher than a replacement with fewer years service and less time in grade. Just a thought. And, while your management may be screwy, there are probably some rationale fair minded types in the bunch (budgets are made by the bunch) that recognize good employees and are concerned about losing staff of high value.

    These people WERE NOT my supervisor who has to be a GS-whatever manager. It might be interesting to hear what my supervisor has to say during my annual review. I made my plans known to my previous supervisor and current one when that supervisor was acting for my old supervisor. Confused yet?

    COMMENT: Nope. If gets a bit crazy as you near retirement day. I remember how everyone told me how much they would miss me, and how it would be crazy hard to fill my position when I left. Loved hearing it. It did great things for my ego. But my retirement day came and I retired and they did just fine without me and found a good person to replace me and I moved on to a better life...enjoying life..

    Bottom line-why did these questions and comments come out of the blue? Am I really valuable or does my FTE go away when I retire and they are wanting to keep it while negotiating? It’s more than two years out. Are they trying to plan FY 2018?

    COMMENT: See above.

    Sticking around for an additional year if I can health wise (including mental health) would put me over my SS retirement age before I start collecting SS. That might get me a whopping $180 per month. Plus an extra years income. Plus TSP matching. Plus the FERS multiplier increases. Plus my high three might increase.

    COMMENT: It's worth running those numbers. Increasing your retirement in a "significant way" is worth the time and effort to check out with your personnel department, but define significant before you start the analysis. That way you know if it's a good decision or not; and in any case, I strongly recommend having a date set in your mind. It's one of the great accomplishments of our lives. But also realize, if you want to work after retirement, there's a whole world of opportunity out there. I enjoyed the private sector for 3 years before I hung it up for good. Nice way to help out the SS check. Not sure any of this helps you but I wish you the best. Have fun during this time. As I've told you before, you're in a great place in your career.

    All the best,

    FS
    FogSailing
    Try to learn something about everything and everything about something.

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  11. #30

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    Default Re: PessOptimist's Retirement Story

    Just my opinion and observation of the gubmint and for that matter private sector also. I retired in 2014 May and noticed that I was one of the last of the big move out baby boomers. I noticed my agency and probably others seeing a big void with boomers leaving and what I call an fng (------- new guys/girls) coming on board. With the boomers a lot of valuable experience and work knowledge was walking out the door. My agency has considered a mentor program where potential retirees would stay on part time and train the newbies before leaving their jobs. Well good plan but very poor timing about 10-15 yrs too late since most are gone already. Will gubmint continue to move on, yes but it will be a different gubmint with newbies and their perspective of how things should be. The newbies that came on with my agency were book smart but could not function in the field. We worked with farmers and ranchers to protect our natural resources thru conservation and water quality projects. You will be missed like I,but I hate to tell you but you will be replaced by an FNG heehee

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  13. #31

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    Default Re: PessOptimist's Retirement Story

    Since I started this so early and it has been dormant for several months I thought an update was due FWIW. Plans for the actual retirement date may change. Two thing happened.

    My SO has had health problems for about six months and during that time I have used almost all my accrued sick and annual leave under family medical leave act.

    My boss retired. I always figured I would beat him out the door but things changed.

    I was encouraged by many to apply for his job under the MP announcement. I did and was offered it and accepted it. Now my job owns me a little more. So retirement date is slid until June 18 or later. Life changes. Better high three and will be full (66) SS retirement age.

    I have a birthday coming up. From now on birth anniversaries are expressed in hexadecimal. I will be 40.

    Things to try to remember

    Enroll in Medicare next year. Buy part B. Try to figure out how to pay for part B since it usually is deducted from SS payments which I will not be receiving.

    Renew driver’s license next year and try to pass eye test without glasses.

    Try to convince people at UHC Veterans and Retirees and at TriCare that yes, I DO need to keep paying them so my wife can continue to get coverage. It is their rule but no one seems to understand it.

    Enrolling in Medicare when you are 41(h) is a given. Buying part B is required to remain in TriCare. Requesting SS payments is a different deal.

    I will post occasionally as things change.

    PO

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  15. #32

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    Default Re: PessOptimist's Retirement Story

    A little bit about my health insurance cluster.

    Elsewhere someone has made me aware I will have to pay my health insurance premium for retiree FEHB in the interim between retiring and actually getting money from OPM. Hell what’s $360 for a couple months when you have no income?

    There is a big uproar at Luke AFB (LAFB) amongst the retired military members. The 56th Medical Group has announced that all old farts reaching 65 will no longer be seen at the clinic. Previously they had stated everything would be the same as before except Medicare would be the prime insurer instead of TriCare which here is recently United Health Care Veterans and Retired Military. Something called TriCare for Life takes over as a “wraparound” insurance. Provided under contract by Wisconsin Physicians Service. You have to get Medicare Part B to be eligible. Premiums jump over 200%. Part B v TriCare Prime premiums.

    I was aware of this change in insurance due to research since my primary insurer has been FEHB BCBS for years with TriCare Prime secondary. That has had its own issues. I suspected that LAFB would no longer service those over 65 a couple years ago since talking to my Primary Care Manager (PCM) who was a retired O-5 and was getting his 20 years FERS in. He has since moved on to a local hospital. I asked what he thought I should do and he said look for a doctor.

    FWIW since that PCM moved on I was assigned a contracted doctor who could not access my records and has also moved on. Now I have no PCM and am assigned to whoever is available. Whatever.

    The main dilemma is that when I turn 65 and get thrown out of TriCare Prime, my spouse will be 61. NO ONE seems to be able to tell me how to keep her TriCare Prime coverage as they won’t accept my payments after I turn 65. They all assure me that if her Tricare coverage lapses she will NOT be eligible for TriCare for Life when she applies for Medicare four years later.

    To add to the confusion, I will still be working when I turn 65 and still be enrolled in FEHB. But I have to enroll in Medicare and buy part B to keep my military health insurance.

    Anyone else out there who has dealt with this? Fortunately I have about a year to try to figure it out.

    PO

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  17. #33

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    Default Re: PessOptimist's Retirement Story

    Quote Originally Posted by PessOptimist View Post
    A little bit about my health insurance cluster.

    Elsewhere someone has made me aware I will have to pay my health insurance premium for retiree FEHB in the interim between retiring and actually getting money from OPM. Hell what’s $360 for a couple months when you have no income?
    My FEHB payments were paid by OPM when they finalized my retirement, I didn't get any bills. (Dental & Vision Premiums you do have to pay for in interim) I switched from BCBS Standard to Foreign Service Benefit Plan prior to retirement, which saved me about $175/month for family plan. It is a FFS Plan, similar to BCBS, but only available if you are current civilian employee working for DoD or specific agencies https://www.opm.gov/healthcare-insur...res/72-001.pdf. You may want to check out the different plans available during next open season.


    My mother has Medicare, FEHB and Tricare for Life (overinsured). When you are covered under Medicare, I think your spouse would enroll as single vs family in Tricare, but I’m not sure why you wouldn’t just rely on the FEHB that you are already paying for. Tricare website: http://www.tricare.mil/Plans/SwitchingPlans



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  19. #34

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    Default Re: PessOptimist's Retirement Story

    Quote Originally Posted by evilanne View Post


    My FEHB payments were paid by OPM when they finalized my retirement, I didn't get any bills. (Dental & Vision Premiums you do have to pay for in interim) I switched from BCBS Standard to Foreign Service Benefit Plan prior to retirement, which saved me about $175/month for family plan. It is a FFS Plan, similar to BCBS, but only available if you are current civilian employee working for DoD or specific agencies https://www.opm.gov/healthcare-insur...res/72-001.pdf. You may want to check out the different plans available during next open season.


    My mother has Medicare, FEHB and Tricare for Life (overinsured). When you are covered under Medicare, I think your spouse would enroll as single vs family in Tricare, but I’m not sure why you wouldn’t just rely on the FEHB that you are already paying for. Tricare website: Switching Plans | TRICARE

    Spouse has no basis to enroll as single in tri care as she is "just a dependent". BCBS Standard does not cover everything for several extended inpatient "experiences". Been to the tri care web site and they just do not understand other than to state spouse can continue tri care prime. Tri care prime is not free. So pay the premiums until spouse is Medicare eligible. Or drop her from eligibility. Yes, I have called them and the UHC people just read from the web site. Typical contractor.

    Once again I will state the "free healthcare for life" from military service is not free.

    PO

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  21. #35

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    Default Re: PessOptimist's Retirement Story

    Quote Originally Posted by PessOptimist View Post
    Spouse has no basis to enroll as single in tri care as she is "just a dependent". BCBS Standard does not cover everything for several extended inpatient "experiences". Been to the tri care web site and they just do not understand other than to state spouse can continue tri care prime. Tri care prime is not free. So pay the premiums until spouse is Medicare eligible. Or drop her from eligibility. Yes, I have called them and the UHC people just read from the web site. Typical contractor.
    You may have better luck with DMDC Support Office (DSO) since they code DEERS eligibility. If a surviving spouses & even some divorced spouses are eligible, I am sure your current wife would be eligible. see https://www.dmdc.osd.mil/milconnect/...17633789590437 (select FAQ tab, then "DEERS" & "DEERS: TRICARE and DEERS")

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  23. #36

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    Default Re: PessOptimist's Retirement Story

    Box is full. Will follow up discussion tomorrow. Nite


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