Elgallo, may I be the first to congratulate you on your retirement and welcome to the club. It will be one year tomorrow that I became a member of the retirement club. Have not looked back. You'll love it. I know you will have a very Happy New Year.
Let me start this thread with an appropriate tune.
I'll be posting my experience with the oddessy of retireing from the Federal Gubmint. So stay tuned.
Elgallo, may I be the first to congratulate you on your retirement and welcome to the club. It will be one year tomorrow that I became a member of the retirement club. Have not looked back. You'll love it. I know you will have a very Happy New Year.
THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
Tracker = Check my position
Good for you, enjoy it!
Socrates: "Democracy, which is a charming form of government, full of variety and disorder, and dispensing a sort of equality to equals and unequaled alike."
Been there done that if you have any questions feel free to ask. CONGRATULATIONS You'll love it.
Thanks everyone, its been almost two weeks now and let me say I can't complain one iota! Been gettin things done that have been hanging fire for way too long.
The one new development regarding my retirement is that my lump sum AL payment showed up in my check last Friday. I understood it would be as long as 6 weeks, so this was a pleasent suprise.
That's it for now.
Now where is that fishin pole...................
Congrats big time! I truly love retirement, I can't believe a year has passed!
Elgallo, Congratulations. Looking forward to the updates. I plan to retire June 1st so it will be interesting to see how things progress for you.
May the force be with us.
Congratulations !! I'm retiring 2/29/12. Could you tell me approximately how much they withheld (percentage) for taxes from your A/L hours check? I've heard from 33-40%?? Thanks..
Another quick update here. I just received the letter from TSP indicating they were informed of my recent retirement, and wanted to know if I intended to pay off the balance of a TSP loan I currently have. One must either pay off the loan or declare it as income and it goes towards income for the 2012 tax year with taxes due in April 2013. This must be done or you cannot withdraw funds, lump sum or otherwise, going forward.
Going to go work on the boat now...........
[QUOTE=Elgallo;343981]Another quick update here. I just received the letter from TSP indicating they were informed of my recent retirement, and wanted to know if I intended to pay off the balance of a TSP loan I currently have. One must either pay off the loan or declare it as income and it goes towards income for the 2012 tax year with taxes due in April 2013. This must be done or you cannot withdraw funds, lump sum or otherwise, going forward.
Yes..... A TSP outstanding loan is an important consideration when determining when to retire. I hope that your HR Dept., informed you that you would have to repay the loan or declare it as income when you submitted your retirement paperwork so that it was not a surprize to you...
Elgallo, What did you decide to do with your TSP?
May the force be with us.
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