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Thread: PessOptimist's Retirement Story

  1. #121

    Join Date
    Oct 2008
    Location
    Stinking desert valley of bad air quality, AZ
    Posts
    2,994

    Default Re: PessOptimist's Retirement Story

    Downloaded my last LES today for pay due 1/17. They paid the lump sum leave amount as normal earned income. I expected that. What I did not realize was that they deducted SS (OASDI) and Medicare from the lump sum like it was normal pay. That is $2k I did not figure in to the final payout. I guess I should have, .gov will get theirs.

    I was correct, did not work a full pay period at the end so did not get to sell that 8 hours leave back. Another several hundred dollars I will not get. Plus I gave up about 7 days sick leave.

    So much for proper prior planning.

    Advice is to retire at the end of a pay period and keep track of that sick leave. Take it no matter how much your bosses whine.

    No regrets. Not getting up at oh-dark-30 and fighting traffic is great.

    BTW the additional leave money would not have made up for kicking the first interim payment up to March. Anticipating getting my CSA number so I can set up my SOL account. I hope I have good luck with that and am not SOL.

    Now if I could just learn how to play poker...

    PO

  2.  
  3. #122

    Default Re: PessOptimist's Retirement Story

    Congratulations on your retirement!
    Also, thanks for the information about the leave. I plan to take all my S/L before I retire (in 12 years...ugg)! Im keeping a balance of 300 hours for emergencies and not letting it get over that. Then in my last few years I will burn it all up.
    Did not know about the end of pay period thing. I will remember that. I plan to retire December, 2030. It seems so far away!

    As for the poker, stick with Blackjack. Best odds in the house!

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  5. #123

    Join Date
    Jun 2014
    Location
    Virginia
    Posts
    680

    Default Re: PessOptimist's Retirement Story

    Congratulations! The lack of commuting only gets better from here!

  6.  
  7. #124

    Join Date
    Oct 2008
    Location
    Stinking desert valley of bad air quality, AZ
    Posts
    2,994

    Default Re: PessOptimist's Retirement Story

    Feeling antsy this Sunday evening. Hoping to get that SOL info this week. Hoping there is an interim payment made 2/1.

    PO

  8.  
  9. #125

    Join Date
    Oct 2008
    Location
    Stinking desert valley of bad air quality, AZ
    Posts
    2,994

    Default Re: PessOptimist's Retirement Story

    Got a mostly blank LES from DFAS. In the remarks section it confirms I was separated 12/31/2018 and retirement data was sent to OPM on 1/16/2019. No claim number from OPM yet. I must be patient. I will be less patient if no money is deposited from OPM in two days.
    Anyone who retired 12/31/18 received the claim number yet? Those already retired, how long did it take to receive the claim number?

    PO

  10.  
  11. #126

    Join Date
    Nov 2015
    Location
    Virginia Beach, VA
    Posts
    7

    Default Re: PessOptimist's Retirement Story

    Welcome to the club PO.

    I retired 2/28/2018 and received the following items dated:
    Interim Pay Notification from OPM: 3/28/2018
    Retirement Services Reference Card from OPM: 3/28/2018
    Temporary Password for OPM Account: 3/29/2018

    Received them a few days later. The first 2 will have your claim number. My retirement pay showed up in my bank account before I received the 3 items above.

    BTW, you can check your TSP account to see if they consider you retired yet, by looking at either TSP Loans or Withdrawals under Online Transactions. You can't take a loan if you are separated.

    A little nerve-racking the first month or so waiting on all this to occur, but it passes quickly. Enjoy your new life.


  12.  
  13. #127

    Join Date
    Oct 2008
    Location
    Stinking desert valley of bad air quality, AZ
    Posts
    2,994

    Default Re: PessOptimist's Retirement Story

    Quote Originally Posted by MrBill View Post
    Welcome to the club PO.

    I retired 2/28/2018 and received the following items dated:
    Interim Pay Notification from OPM: 3/28/2018
    Retirement Services Reference Card from OPM: 3/28/2018
    Temporary Password for OPM Account: 3/29/2018

    Received them a few days later. The first 2 will have your claim number. My retirement pay showed up in my bank account before I received the 3 items above.

    BTW, you can check your TSP account to see if they consider you retired yet, by looking at either TSP Loans or Withdrawals under Online Transactions. You can't take a loan if you are separated.

    A little nerve-racking the first month or so waiting on all this to occur, but it passes quickly. Enjoy your new life.
    Thanks. Did the thing with TSP and they do know I am unemployed. Just being impatient and a little worried.

    PO

  14.  
  15. #128

    Default Re: PessOptimist's Retirement Story

    I retired in 2010 and things were slow and not much communication. It is nerve racking until it all gets settled. But, you will get everything in the end. Back pay from the missing pay from from interim check etc. I had a good amount of pay from annual and sick leave to tide me over. Plus I did the 72t withdrawals from tsp. They were quick. Why can’t opm be like that?
    100 G
    RSI - Relative Strength Indicator DMA - day moving average

  16.  
  17. #129

    Join Date
    Jun 2004
    Location
    Boiled Peanut, Georgia, USA
    Posts
    76,538

    Default Re: PessOptimist's Retirement Story

    Quote Originally Posted by clester View Post
    I retired in 2010 and things were slow and not much communication. It is nerve racking until it all gets settled. But, you will get everything in the end. Back pay from the missing pay from from interim check etc. I had a good amount of pay from annual and sick leave to tide me over. Plus I did the 72t withdrawals from tsp. They were quick. Why can’t opm be like that?
    I also retired in 2010 the same situation!!



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  19. #130

    Default Re: PessOptimist's Retirement Story

    PO, I retired 1-3-14 and everything flowed fairly smoothly except for the final check clearing up all the estimates which I didn't get until May, 2014. Quote below has various estimated dates and everything pretty much happened on schedule. Best of luck. Hard not to be nervous but it will work out in the end!

    "Got a call from my retirement specialist with estimates of my first retirement check dates. The first "interim" retirement check is due around 2-10-2014 and the lump sum annual leave check is due around 2-18-2014. Hope he's right! A little spooky when those paychecks stop although I still have a half paycheck coming 1-21-2014. Will let you guys know how it works out." Got my Claim Number 2-3-14.

  20.  
  21. #131

    Join Date
    Oct 2008
    Location
    Stinking desert valley of bad air quality, AZ
    Posts
    2,994

    Default Re: PessOptimist's Retirement Story

    I received my Retirement Services Reference card with the claim number on 2/5/19. The letter was dated 12/17/18. The first interim OPM payment showed up today in the checking account. It is about 64% of the last estimated amount before FEHB deduction. Still waiting for the temporary passcode for SOL.

    PO

  22.  
  23. #132

    Join Date
    Oct 2008
    Location
    Stinking desert valley of bad air quality, AZ
    Posts
    2,994

    Default Re: PessOptimist's Retirement Story

    I got the temporary password for SOL and was able to log on and update the required stuff. Though it shows $0 under payments I did get the following from the status page:


    OPM authorized your retirement to be placed into interim pay. You will continue to receive interim pay until your retirement case is processed.


    Notification of Retirement Received


    OPM has been notified of your retirement. Once we receive your retirement application, your retirement case can be processed. 01/17/2019


    Retirement Application Received


    OPM has received your retirement application package from your agency. 01/18/2019


    Interim Pay Issued


    OPM authorized your retirement to be placed into interim pay. You will continue to receive interim pay until your retirement case is processed. 02/05/2019


    Assigned to Specialist Incomplete


    Case Finalized Incomplete


    It also shows $0 under Life Insurance amounts though the 75% reduction is checked.


    PO

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