Thread: Elgallo's Retirement story

Your understanding is correct Gucchi. The loan goes to income and no penelty if one is over 59 1/2.

Nasa: As soon as my loan is terminated, and I presume I get some for of 1099 and the loan issue is setteled, I I intend to roll my entire balance into a Fidelity IRA. Doing that, frees me from the draconian rules imposed upon us by the TSP Board.

Originally Posted by Elgallo

Your understanding is correct Gucchi. The loan goes to income and no penelty if one is over 59 1/2.

Nasa: As soon as my loan is terminated, and I presume I get some for of 1099 and the loan issue is setteled, I I intend to roll my entire balance into a Fidelity IRA. Doing that, frees me from the draconian rules imposed upon us by the TSP Board.

Thanks, Elgallo.

I recieved a letter from OPM congratuating me on my retirement and that more info will follow. That was this past Saturday.

Yesterday I received my copy of the package the DONHR in Portsmouth provided to OPM. This containd information on my intrim and full benifit. I guess it now only a matter of time until I receive my full annunity.

I was asked by someone about how much tax was withheld from my lump sum leave payment it was in the order of 20-30 % +/-.

Well Well Well... my first payday in retirement has come and gone, and guess what, the check wasn't in da mail. Howz about dat!!

Anyone have a phone number I can use to expess my "Great Disappointment" and I'm being kind, or am I just impatient??

Fully Retired But Not Beyond It Yet (FRBNBIT)...

Elgallo, I retired 12/31/2011. The only thing I have received was a letter from the NFC in which they advised they were sending a Register of Separations to OPM. I have received nothing from OPM. I am anticipating (Hoping) for my AL check this weekend and to see my interim annuity check later this month.

I received my AL check in 6 days, amazing, 428 hours if I remember correctly.

When I do receive my AL check it will be for 448 hrs which will be nice. A coworker who retired the same date as me has already received her ID# and password for the OPM site!!! Another coworker retired 8/31/2011 and his annuity was finalized within 4 months! Go figure!

A2Z: I received my lump sum for AL in my last check from the final PP worked before retirment. I have received the OPM ID# recently , but no PW as of yet. I only hope OPM finalizes my case in 4 months as I have heard that some folks wait for over a year! WTF eh!

Originally Posted by A2Z1112

When I do receive my AL check it will be for 448 hrs which will be nice. A coworker who retired the same date as me has already received her ID# and password for the OPM site!!! Another coworker retired 8/31/2011 and his annuity was finalized within 4 months! Go figure!

Brace yourself for the taxes on that AL money, I think they took 20% Federal and 0% state. The good thing is come tax time I received a huge refund.

Good thing is the wife and I prepared ourselves financially by paying off the bills and saving money for the long haul!!! Can only wait and continue to enjoy retirement!

Still NO freakin check. And I was all worried about living on 80% of what they owe me!