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Thread: PessOptimist's Retirement Story

  1. #49

    Default Re: PessOptimist's Retirement Story

    Congratulations PO !! Whoo Hoo! You're going to be so happy when you're free to do whatever you want.....unless the SO makes those "honey do" lists before you even finish doing your morning hot yoga in the patio.


    I think at one time you mentioned you wanted to travel across country by rail? Any plans for living that dream? If not, here's an alternative you might relish!! You'd be the King of the Dogs, a real Hotdogger! (Jk)

    https://www.google.com/amp/fox8.com/...rs-wanted/amp/

    Congrats!! Retirement is a beautiful thing. #freedom#sleepingin#takethisjobandshoveit

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  3. #50

    Default Re: PessOptimist's Retirement Story

    Quote Originally Posted by PessOptimist View Post

    I am retiring in the middle of a pay period. Normally I would look for a payment from my agencies normal pay schedule on 1/4/18 for the period 12/10 thru 12/23/17. Then on 1/18/18 I would get a payment for the period 12/24 thru 12/31/17. In one of them I should get the leave payment. Any idea how that is going to work? Anyone?

    PO
    PO, Congratulations on your retirement. I retired 12/31/16. I received my lump sum AL payment at the end of January 2017. My first interim annuity was Feb 1st and it was about 55%. We used my lump sum AL to make up the difference between interim annuity and my pay before retirement. I received another interim annuity on March 1st. My first full annuity plus the annuity balance (1/1 thru 3/1) on April 1st. It will take at least 3 months before your annuity is adjudicated. There's no fast track! For what's worth retirement is the second best job I've ever had. Being a Granddaddy is the best job ever! Although I'm now working more hours for less pay helping my brother farm I've enjoyed every minute of it. There's no stress and NO GOV'T BULLSH**T!!!

    Best of luck to you!

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  5. #51

    Join Date
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    Default Re: PessOptimist's Retirement Story

    PO, Congratulations on your retirement. I retired 12/31/16. I received my lump sum AL payment at the end of January 2017. My first interim annuity was Feb 1st and it was about 55%. We used my lump sum AL to make up the difference between interim annuity and my pay before retirement. I received another interim annuity on March 1st. My first full annuity plus the annuity balance (1/1 thru 3/1) on April 1st. It will take at least 3 months before your annuity is adjudicated. There's no fast track! For what's worth retirement is the second best job I've ever had. Being a Granddaddy is the best job ever! Although I'm now working more hours for less pay helping my brother farm I've enjoyed every minute of it. There's no stress and NO GOV'T BULLSH**T!!!


    Best of luck to you!

    Thanks. The specific information I am looking for is how did they handle the two paydays you had coming. In my agency we get paid 12 days later for work in a specific pay period. So in Dec 2016 the pay period of Dec 11th-24th would have been paid Jan 5th. For the partial pay period Dec 25th-31st the normal payday would have been Jan 19th. How did that work for you?


    PO

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  7. #52

    Default Re: PessOptimist's Retirement Story

    I also had a partial payday and it came same time the regular paycheck would have arrived. I got the AL lump sum payment in Feb.2014. Also, that reminded me that I got the cost of living for the year following the retirement year (2013 for me) on a large portion of my AL lump sum payment. Explanation below.

    Hello Fellow TSP'rs especially recent retirees, I found out a little information regarding the application of the 2014 raise % to the lump sum annual leave payment. According to information on the OPM.Gov site, the lump sum annual leave payment is calculated as follows- "Generally, a lump-sum payment will equal the pay the employee would have received had he or she remained employed until expiration of the period covered by the annual leave." As I read this we should get the 1% raise on a significant part of the lump sum annual leave payment. Check with your payroll office. I.E. If you retired on 12-31-13 annual leave to carry you through the end of PP 26 would be paid at the 2013 rate and any thing after that would be paid at the 2014 rate. Not a lot but we are on fixed incomes now. Worth a phone call.

    Lump-Sum Payments For Annual Leave

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  9. #53

    Default Re: PessOptimist's Retirement Story

    Quote Originally Posted by PessOptimist View Post
    Thanks. The specific information I am looking for is how did they handle the two paydays you had coming. In my agency we get paid 12 days later for work in a specific pay period. So in Dec 2016 the pay period of Dec 11th-24th would have been paid Jan 5th. For the partial pay period Dec 25th-31st the normal payday would have been Jan 19th. How did that work for you?


    PO
    PO, it works just like you are still on the payroll. Because technically you are. The agency doesn't release you to OPM until they completed a leave audit and paid your lump sum AL (if any). Hope this helps.

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  11. #54

    Join Date
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    Default Re: PessOptimist's Retirement Story

    Quote Originally Posted by kave View Post
    PO, it works just like you are still on the payroll. Because technically you are. The agency doesn't release you to OPM until they completed a leave audit and paid your lump sum AL (if any). Hope this helps.
    Thanks kave, that was exactly the kind of information I was looking for.

    Maybe my agency will not release me to OPM until the end of January. My estimate of the first interim payment was February 1st. Now maybe March 1st.

    Perhaps I will get more concrete information once I submit retirement paperwork. Once I figure out who to submit it to.

    As I have explained before the goal is to have the same amount per month coming in as the current take home pay from the .fed job. Doable because of the max TSP deductions now, selling back annual leave and starting to receive SS in June. Then a “total withdrawal” from TSP to make up the shortfall per month. That should last about 30 years which puts me in my 90s. If I am still alive I have picked out a bridge on the 303 and maybe some of you will come visit me.

    I am sure many of you will say I am not being proactive enough about my retirement. It is difficult when the resident HR person is never in her office and does not reply to e-mails. I will try to work harder to find that person or maybe her boss who is not on site. My bad.

    Thanks for all the info so far.

    PO


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  13. #55

    Default Re: PessOptimist's Retirement Story

    PO not to say your HR person isn't competent but my experience has been they have very little experience with retirement questions. Try requesting your retirement computations as a start. I got some help from my supervisor who had a name and number from a lady in the section that did the comps. I still ended up having to do my own research on over half of my questions since I had the CSRS Offset retirement. Good luck!

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  15. #56

    Default Re: PessOptimist's Retirement Story

    Quote Originally Posted by PessOptimist View Post
    Thanks kave, that was exactly the kind of information I was looking for.

    Maybe my agency will not release me to OPM until the end of January. My estimate of the first interim payment was February 1st. Now maybe March 1st.

    Perhaps I will get more concrete information once I submit retirement paperwork. Once I figure out who to submit it to.

    As I have explained before the goal is to have the same amount per month coming in as the current take home pay from the .fed job. Doable because of the max TSP deductions now, selling back annual leave and starting to receive SS in June. Then a “total withdrawal” from TSP to make up the shortfall per month. That should last about 30 years which puts me in my 90s. If I am still alive I have picked out a bridge on the 303 and maybe some of you will come visit me.

    I am sure many of you will say I am not being proactive enough about my retirement. It is difficult when the resident HR person is never in her office and does not reply to e-mails. I will try to work harder to find that person or maybe her boss who is not on site. My bad.

    Thanks for all the info so far.

    PO
    your retirement is with OPM, not your agency. your agency really has zero say unless your in the military. call https://www.opm.gov/retirement-servi...ct-retirement/
    "Our Constitution was made only for a Moral and Religious people. It is wholly inadequate to the goverment of any other." John Adams 10/11/1798

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  17. #57

    Join Date
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    Default Re: PessOptimist's Retirement Story

    Quote Originally Posted by Valkyrie View Post
    your retirement is with OPM, not your agency. your agency really has zero say unless your in the military. call https://www.opm.gov/retirement-servi...ct-retirement/
    Thanks for the reply. Your agency has very little to say with when or if you retire. They do have a lot to do with getting the process started. Unless you have not been a federal employee for 31 days or more. https://www.opm.gov/retirement-servi...ing/#url=Apply

    I have to get the paperwork from Colorado from my parent department, fill it out, send it back to Colorado and if there are no hiccups they send it to Cleveland, OH to payroll. If they find no problems and process it correctly then it goes to OPM. The agency may have zero to say about if you retire but they sure have a lot to do with making it happen.

    Scout333, good advice and I have found that person. The new local HR person does not do retirements. I request and submit my paperwork to the same person at the parent department who has been sending the retirement estimates.

    It should go pretty well. I have no breaks in fed service, been with the same agency the whole time, didn’t make any military deposit and have faithfully downloaded everything from my eopf. I go there every 60 days as they seem to no longer notify any one of new actions. Being close to the end I think once a week is prudent. Download anything placed in the file and save it off the .gov domain. Just my advice. Records disappear sometimes.

    Good luck to anyone retiring soon.

    PO

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  19. #58

    Default Re: PessOptimist's Retirement Story

    Quote Originally Posted by PessOptimist View Post
    Thanks for the reply. Your agency has very little to say with when or if you retire. They do have a lot to do with getting the process started. Unless you have not been a federal employee for 31 days or more. https://www.opm.gov/retirement-servi...ing/#url=Apply

    I have to get the paperwork from Colorado from my parent department, fill it out, send it back to Colorado and if there are no hiccups they send it to Cleveland, OH to payroll. If they find no problems and process it correctly then it goes to OPM. The agency may have zero to say about if you retire but they sure have a lot to do with making it happen.

    Scout333, good advice and I have found that person. The new local HR person does not do retirements. I request and submit my paperwork to the same person at the parent department who has been sending the retirement estimates.

    It should go pretty well. I have no breaks in fed service, been with the same agency the whole time, didn’t make any military deposit and have faithfully downloaded everything from my eopf. I go there every 60 days as they seem to no longer notify any one of new actions. Being close to the end I think once a week is prudent. Download anything placed in the file and save it off the .gov domain. Just my advice. Records disappear sometimes.

    Good luck to anyone retiring soon.

    PO
    your agency has nothing to do with it. they do not do anything. u don't even have to tell them u are retiring. u could be there on friday leave turn in your ID's to security and never show up monday. Everything is with OPM. I retired last yr. there was an OPM retirement class they said nothing has to be said and when I was talking to my OPM retirement contact they told me the same thing. call the OPM number tell them u want to retire and one of their people will contact u and get it started. the one form an agency signs,if u don't want them to know your leaving the OPM contact has the auth to sign it for u, since it somewhat really means nothing.
    "Our Constitution was made only for a Moral and Religious people. It is wholly inadequate to the goverment of any other." John Adams 10/11/1798

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