Thread: Clester's retirement story

(ooops, accidental double posted while trying to edit comments)

Congrats Clester

FYI - I retired at age 49 as a FERS LEO on very short notice at the end of Sept 09 & got finalized in Mar 2010. (approx 6 months)

I had approx 25.5 years + 4 years bought-back military for a total of approx 29 years = approx 43% FERS pension.
(It's really more than that when you consider no more 7.65% FICA deduction; 1.3% FERS contribution; & 16.5k per annum TSP contribution)

Around the middle of Nov when I still had not received an interim payment from OPM, I got on the phone with my (very efficient!) agency retirement rep who found out there was a hitch in that NFC had not forwarded my paperwork to OPM - she got something moving & I started getting payments.

My FERS Supplement was a couple hundred bucks less than my agency had estimated - so I sent OPM an e-mail requesting a written computation which I received approx 4 weeks later. The computation is quite complicated & confusing & it looks like they must know what they are doing, so I assume it is correct - but I really have no way of knowing for sure
(in all fairness, I had thought my agency's estimate of the Supplement was a tad high when I first saw it anyway)

TSP was much more efficient than OPM. I set myself up for life expectancy payments. (btw - have u ever decided what are you gonna do with that? Life Expectancy? Roll over to IRA & 72t? Annuity? Let it ride?)

In any case, Good luck with your new life/freedom. C'mon in -the water's fine!

Way to go Clester!!!


I'm sure you are glad to get away from the F double....
Little over 4 yrs for me still. At least the raises are not
frozen anymore.

Please keep us posted, as I am FERS too, and will have
similar numbers as far as years and percentages.

Congrats!!

Depressing to know Agencies and OPM take so long to finalize retirements; 10 1/2 months is unbelieveable. But I am thankful for this forum; I will be prepared to ride it out until they get their acts together. Nice to know TSP is more efficient.

With only 6 months to go (getting anixous btw) I have time to understand my income/finance situation after my separation from NASA. I am not doing the life expectancy thingy, I will take monthly payments instead.

Question for those who are collecting social seccurity: How efficent is SSA? Did you start getting your payments when you expected or not???

Still waiting for my annual leave payout. This is the first pay day with no salary. My bank usually has it in my account by Friday. Someone said it takes up to 6 weeks and its been 4.

I just mailed in my TSP monthly payment form. I am using the amoritization method.

Supposedly, I should get an interim payment about July 1.

Love retirement so far. I took a class for my masters degree that ends today and will do my student teaching in Aug.

I think I could get used to not working at all though.

Originally Posted by clester

Still waiting for my annual leave payout. This is the first pay day with no salary. My bank usually has it in my account by Friday. Someone said it takes up to 6 weeks and its been 4.

I just mailed in my TSP monthly payment form. I am using the amoritization method.

Supposedly, I should get an interim payment about July 1.

Love retirement so far. I took a class for my masters degree that ends today and will do my student teaching in Aug.

I think I could get used to not working at all though.

I called TSP to check if they had been notified of my retirement and they had. So I should start getting TSP payments in a couple of weeks. Hopefully my leave payout will come with the next pay period for FAA.

Got notice today from my payroll office at DOI that retirement info had been certified and sent to OPM on June 24. Bet that means it will be a couple of weeks for OPM to get it in gear and send me a check. I should have one sent July 1 if they were on schedule.

Thanks for the updates Clester, keep it coming. Did you ever get your annual leave check and how long did it take?

My fellow NASA retirees have been receiving their leave sell back checks approximately two weeks after their final regular check.

It is 1 July and December still seems a long ways off, but it really isn't. We have been working hard to get our home ready for the market, but we don't expect it to sell anytime soon, based on the economy and Obama's decision to kill the Consellation efforts of NASA. There will we be approx. 7000 NASA and contractors laid off around the first of the year!

Will apply for social security in three months........I can't believe I am talking about this, must be getting old! Muhahahaha!

Listen folks OPM is snail slow, it's been 6 months and I am still getting 80% of my annuity. I called HRO at the base and the lady there gave me a number at OPM, I called it yesterday and had to leave a MESSAGE, waiting for a call today! This is ridiculous!

Originally Posted by nnuut

Listen folks OPM is snail slow, it's been 6 months and I am still getting 80% of my annuity. I called HRO at the base and the lady there gave me a number at OPM, I called it yesterday and had to leave a MESSAGE, waiting for a call today! This is ridiculous!

It took 10 months for me to quit getting my 80%. Then a few months later they started paying me too much. I called and sent registered letters. No fix. I just saved the extra money in a special savings account. Eleven months later they came after me.

I don't know whether the problem is that they are overwhelmed or that they are working with antiquated computer programs or what. I just know that folks better be prepared for long waits before they retire.

Lady, I heard a similar story from another recent retiree yesterday. she came back to work part-time due to health care costs and insurance increases relative to fixed annuity. they overpaid her when she came back to work, and they just issued her a gimme notice.

Well Folks..I'm officially a CIVILIAN as I write this..Lots of mixed emotions and sad farewells today...But hey..I'm young enough yet, time to start another career..At least for a another few more years..