This is good to know! Sounds like we need to line up a job in advance and work until the Fed checks and SS starts coming in. The last thing I want to do is accumulate debt the first year I'm retired.
D
my boss announced she's pulling the plug midyear. hope things go okay for her. as for me, by the time i retire, worst of the boomer retirement wave will be digested, i expect things will go pretty smoothly, bugs worked out, fers process routine. either that or i never get to retire, or i'll be working a private sector job a whooole lot sooner due to shrinking unsustainable tax base. may we live in interesting times.
"life can only be understood backwards, but it must be lived forwards" - soren kierkegaard
This is good to know! Sounds like we need to line up a job in advance and work until the Fed checks and SS starts coming in. The last thing I want to do is accumulate debt the first year I'm retired.
D
When I retired Dec 31, 2010, my counselor at HRSSC told me I would get about 80% of my expected retirement payment MINUS health ins. Now if you have dental and vision add-ons, those payments are suspended until they have your retirement straight at which time they will collect the back premiums. I received letters from both about that. But yes they will deduct health ins from day one. I did get my first reduced retirement payment from OPM about the first of Feb. First SS payment expected last Thur of the month.
It's called planning. My sell back of 2 months of annual and eliminating small debts (credit card, etc,) prior to retirement, put me in great shape until OPM has things straight. And remember if you retire the last day of the month you get first retirement payment a month later. Retire first of the month and you'll wait 2 months.
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