Clester's retirement story

**clester** · 06-13-2010, 08:16 AM

You can now add me to the retired list. Last day was May 31. 50 years old and 26 years in Air Traffic. Got a partial check (I worked 1 week and 1 day of it) this week. No leave payout yet. I have 245 hrs annual, 1760 sick, and 24 credit hours to be paid to me. Soon I hope. First regular FERS check (estimated, about 80% of normal) should be July. ATC FERS will give me 40% of high 3 plus supplement which equals about 11% for a total of 51%.

Hopefully, I will be able to start 72t withdrawals from TSP in July using Amoritization method.

I will start my second career as a high school math teacher in the fall. Either student teaching (internship with no pay) or what is called an alternate license and have my own class with pay. Next year I will have a regular license.

I will let you know how it goes so others can know what to expect.

**nnuut** · 06-13-2010, 09:22 AM

Originally Posted by clester

You can now add me to the retired list. Last day was May 31. 50 years old and 26 years in Air Traffic. Got a partial check (I worked 1 week and 1 day of it) this week. No leave payout yet. I have 245 hrs annual, 1760 sick, and 24 credit hours to be paid to me. Soon I hope. First regular FERS check (estimated, about 80% of normal) should be July. ATC FERS will give me 40% of high 3 plus supplement which equals about 11% for a total of 51%.

Hopefully, I will be able to start 72t withdrawals from TSP in July using Amoritization method.

I will start my second career as a high school math teacher in the fall. Either student teaching (internship with no pay) or what is called an alternate license and have my own class with pay. Next year I will have a regular license.

I will let you know how it goes so others can know what to expect.

Congratulations Clester!!!
I received my payment for leave is less than a week, but I worked for DOD!
It's been 5 1/2 Months and I am still getting a partial check (80%) no kudos to OPM, what a group they are!

**Scout333** · 06-13-2010, 08:30 PM

Congratulations Clester! Enjoy your retirement! At least through the summer. Keep us posted on the progress with the retirement chks, etc.

**XL-entLady** · 06-14-2010, 01:39 AM

Congratulations, Clester! I retired from Dept of Interior. It took me 7 weeks to get my lump sum annual leave. I got my first 80% annuity 6 weeks after I retired. And it took 10 1/2 months to get my normal retirement annuity.

Best of luck!

**clester** · 06-14-2010, 05:49 AM

Originally Posted by XL-entLady

Congratulations, Clester! I retired from Dept of Interior. It took me 7 weeks to get my lump sum annual leave. I got my first 80% annuity 6 weeks after I retired. And it took 10 1/2 months to get my normal retirement annuity.

Best of luck!

Thanks Lady,
My checks came through Dept of Interior. So, I may be on the same schedule for my payout.

Since it took 10 1/2 months to get your normal annuity and nnuut still hasn't got his after, what, 5 or 6 months? I guess I need to plan for that.

Thanks to both of you for the info.

**KevinD** · 06-14-2010, 06:36 AM

Congrats Clester! I'm jealous...

**Zebra** · 06-14-2010, 06:50 AM

WOW, OPM ..........who do they work for? You guys got me scared already, as I am retiring end of the year myself. Totally unexceptable it in today's time for such delays. With the technology of today, it should be as quick as pushing one button, called RETIREMENT, EH?????

Question: what is the average timeframe OPM to TSP notification of seperation? I understand TSP will not even process your withdrawal until OPM notifies they of your retirement status.

**nnuut** · 06-14-2010, 08:08 AM

I think we should FIRE them all!! This is ridiculous, 10 1/2 months to process a retirement!!! I'm going to start writing letters and sending emails just to bug them, what a SNAFU!!

eyes3.gif

**XL-entLady** · 06-14-2010, 11:18 AM

Originally Posted by Zebra

WOW, OPM ..........who do they work for? You guys got me scared already, as I am retiring end of the year myself. Totally unexceptable it in today's time for such delays. With the technology of today, it should be as quick as pushing one button, called RETIREMENT, EH?????

Question: what is the average timeframe OPM to TSP notification of seperation? I understand TSP will not even process your withdrawal until OPM notifies they of your retirement status.

OPM was quick to notify TSP of my retirement. I think I got my first monthly withdrawal check in two months.

**alevin** · 06-14-2010, 10:00 PM

congrats, clester. Knew you were almost there, now you are! Livin' the dream-step by step by step. definitely helps to hear what lies ahead from those who've gotten there. Lets the rest of us know the non-TSP savings are as important as the rest, since might have to live on them while awaiting those first checks.

**Frixxxx** · 06-14-2010, 10:22 PM

Congrats Clester!

I hope it goes smooth as silk for you and your money!

**Texarkandy** · 06-24-2010, 11:38 PM

Congrats Clester

FYI - I retired as a FERS LEO on very short notice at the end of Sept 09 & got finalized in Mar 2010.

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.

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?)

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