Re: PessOptimist's Retirement Story
Originally Posted by
PessOptimist
SO has accepted that I am retiring at the end of the year. She is asking hard questions I don't know the answer to. Actually they are only hard to find the answer to. So I am reaching out to recent FERS retirees based on their own experience. OPM is kinda vague on the actual mechanism.
1. I am retiring 12/31/17. Based on experience when do I get my first "interim annuity"? I am betting on 2/1/18.
2. Also based on experiences, what percentage of your projected final "Estimated net Benefits" did you recieve as an interim payment?
PO
Hi, PO ! Glad to hear you decided to pull the plug !!!
I'm not a real recent retiree, but I'll give you the numbers, FWIW...
1. Retired 4/30/2012 ; received 1st "interim" annuity on 6/1/2012, right on schedule, too.
2. My interim payment was ~ 57% of my final payment.
That's based on my gross, unreduced benefit calcs, not "net". The gross can be reduced by survivor benefit, insurance, taxes, etc etc
If you haven't gotten one in a while, I recommend you ask your Agency for a current retirement benefits calculation. Although my Agency's estimate was ~ 7% higher than my final OPM calcs, it still gives you a good starting point for your own figuring...
HTH !
Stoplight...
"Too old to rock and roll...too young to die"... - I. Anderson
Bookmarks