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Thread: My retirement journey

  1. #61

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    Default Re: My retirement journey

    Quote Originally Posted by James48843 View Post
    Hmmmm.

    Well, I retired on August 31. I only worked one day in that pay period, so when I got paid on Sept 22, there was one days pay, less normal deductions, which ended up being $179 in the hole. The next payday cake and went- I was able to log in and see it was a no pay earned, nothing taken out, leave balance still showing 155 hours of annual. That was as of October 5.

    Today I just logged in to employee express, and it shows that I am (or should be) getting my lump sum payment this paycheck ( 3rd paycheck period since retiring.).

    I hope it shows up on Tuesday- which would have been my normal payday. That would be great. It means I won’t have to touch my TSP before at least next year, which is the plan.

    I still hope to tweak the TSP account to over a million bucks. That was the goal I set 25 years ago- and I’m over 900k now, so even just growth can get me there. Cross my fingers, anyway.

    I should have stayed working another year, but this whole Covid thing just got me to a place where I needed to go now.




    Sent from my iPhone using TSP Talk Forums
    Shoulda, woulda, coulda, when you decide it’s time to go, its time to go. Try to enjoy. Probably still feels like you are on AL. 😊

    I’m glad you can still log in to employee express. My HR service was gone the day after I retired since I could only log in from a .gov domain which was also gone when I left for the day. I tried it when I got home just for fun. IT was right on top of that OPSEC concern.

    Isn’t it sad to see you were working more than one day to pay the deductions?

    I hope you get that leave payout on Tuesday. Did you get your SOL CSA number yet?

    PO

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  3. #62

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    Default My retirement journey

    Quote Originally Posted by PessOptimist View Post

    I hope you get that leave payout on Tuesday. Did you get your SOL CSA number yet?

    PO
    Good news: Got the leave payout.

    Not so good news:
    Still no SOL CSA number.

    I guess that means I’m still SOL. ☔️


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  5. #63

    Default Re: My retirement journey

    Patience my friend you are a retired person now! LOL


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  7. #64

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    Default Re: My retirement journey

    What a “wonderful” day.

    So today I get an email message from DONNA at OPM.

    She has been assigned as my person.

    And she has rejected my retirement application, because I have signed my application with an electronic signature rather than in blue ink. Apparently OPM didn’t get the message that people are only sighing electronically now, due to Covid. (At least at my former agency, because I asked that very question in AUGUST and was told to sign electronically using my PIV card. )


    Oh, and she attached a letter to my email, explaining that she is mailing the attacked hard copy to my home address, in case I don’t get this email.

    Except the letter she attached is NOT addressed to me. It’s addressed to a woman in El Paso, Texas; it gives that woman’s CAS number and home address, and that she signed electronically as well.


    So- is this why they called it “SOL”?

    Note: October 26, and I still have NO CAS Number, after receiving a password on October 7, and being told that I should have an additional mailing In a few days. And I have called TWICE now asking, and each time the person has said I should get it in the mail any time now.


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  9. #65

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    Default Re: My retirement journey

    James, Sorry you are having such a hard time. Hope this doesn't sour retirement.thumbnail[10].jpg
    May the force be with us.

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  11. #66

    Default Re: My retirement journey

    Unbelievable! Sorry to hear that James.
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.

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  13. #67

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    Default Re: My retirement journey

    Note to previous self-

    If I had it to do all over again, I would have INCREASED the share I had going into ROTH.

    Although Roth TSP started in 2012, I did not start contributing into the Roth side until 2014. The rules are- in order to gain maximum tax benefit in the Roth, you have to contribute at least 5 years before retiring. I did, but only a couple of percent, so that it would be legal.

    I wish now that I had split my contribution to the TSP, 50% to regular, and 50% to Roth, starting as soon as I was able.

    Today, I was thinking about buying a duplex as a rental. If I paid cash for it, I would have to draw froM my taxable side, as I don’t have enough in ROTH to cover all the costs. If I had split the TSP allotment I was saving (was at 11% regular, and 2% Roth), I would be in a much more flexible position today.

    Live and learn.

    To the younger me- save into TSP the max, but split it 50/50. You will thank me later in life.


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  15. #68

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    Default Re: My retirement journey

    Darnit James! I had no problem with mine but that was about 11 years ago, I do remember it was a BIG pain in the roskinoski!.
    Last edited by nnuut; 10-26-2020 at 09:20 PM.



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  17. #69

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    Default Re: My retirement journey

    James, Did you get everything straightened out yet? Can you even access TSP if OPM hasn't accepted your retirement?

    I agree with you on Roth contributions...for those just starting out at lower salary, I'd recommend 100% Roth.

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  19. #70

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    Default My retirement journey

    Quote Originally Posted by evilanne View Post
    James, Did you get everything straightened out yet? Can you even access TSP if OPM hasn't accepted your retirement?

    I agree with you on Roth contributions...for those just starting out at lower salary, I'd recommend 100% Roth.
    1. I finally received my account number, was able to log in, but all I have gotten so far is the first monthly payment of the interim FERS. I got my leave payout finally. That’s going to be enough to carry me ( I think) until the final determination on my retirement pay. I’m hoping it won’t be too much longer, but I also just read that September retirements jumped from 6400 to 8500 . Must be a lot of folks like me bailing out right now.

    2. Anyway— yes, I likely have access to withdraw TSP now, but I’m going to hold off as long as I can. I always dreamed if being a millionaire sone day, and I’m less than 10% below that goal . Hope to hit it within 12 months just on savings and hitting the right moves. Fingers crossed.


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  21. #71

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    Default Re: My retirement journey

    Quote Originally Posted by James48843 View Post
    1. I finally received my account number, was able to log in, but all I have gotten so far is the first monthly payment of the interim FERS. I got my leave payout finally. That’s going to be enough to carry me ( I think) until the final determination on my retirement pay. I’m hoping it won’t be too much longer, but I also just read that September retirements jumped from 6400 to 8500 . Must be a lot of folks like me bailing out right now.

    2. Anyway— yes, I likely have access to withdraw TSP now, but I’m going to hold off as long as I can. I always dreamed if being a millionaire sone day, and I’m less than 10% below that goal . Hope to hit it within 12 months just on savings and hitting the right moves. Fingers crossed.


    Sent from my iPhone using TSP Talk Forums
    That has a nice tone to it, "I'm a millionaire".
    Unless I hit the lottery I won't be able to say "I'm a millionaire". Between my wife's 401K and my TSP we can say we are 3/4 of a millionaire.
    May the force be with us.

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  23. #72

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    Default Re: My retirement journey

    The retirement processing saga continues...


    To re-cap: My last day in the office was officially AUGUST 31.2020.


    owens2.jpg

    In our last episode, the young lady at OPM had rejected our man's retirement application, because he has SIGNED ELECTRONICALLY DURING COVID, and our hero's Agency had instructed all employees to start using ONLY digital signatures on all formal Agency documents earlier in the summer. OPM had not gotten with that program, and, after delaying for a month, had notified our man that his application had to be re-signed in BLUE INK in order to make it valid. James promptly SIGNED AGAIN, THIS TIME IN BLUE INK, and expedited the package BACK to OPM in Pennsylvania, in hopes that it it would be rapidly considered and finalized. THAT WAS OCTOBER 24.


    Skip forward to November 23.

    A Monday.

    Having NOT heard anything back yet, after a full month, our hero once again contacted OPM's Young Lady to confirm that she had received the signed package, overnighted to her on October 24, which had been signed for on Tuesday, October 27th, in Pennsylvania. (SO much for overnighting, eh?) This time, he sent anther email, return receipt, asking for the young lady to confirm receipt, and asking if there was anything else needed, because we had not heard anything yet, a month later.

    A few hours later a quick reply came. YES, she said, she had received my package, and had done her thing, and had forwarded it to the next person in the retirement processing line, for their calculation. That was a few weeks ago, so I should be hearing soon, she says.

    Hmmmm.

    The next day, ANOTHER email comes back from the same young lady at OPM.

    owens2.jpg

    It seems there is ANOTHER HITCH, she says.

    Says the next person down the line has sent the package BACK to her, because I had checked the box saying I was receiving military retired pay, AND I had made a deposit for military service. I can't do that, she says- I have to give up my military retired pay if I want to count that time as FERS time.

    "NO- I don't," I explain to her, slowly. "My military retirement pay comes from Army National Guard M-day drilling reservist, with 20 years of service, and it's the one type of military retirement pay you get to keep when you are a Guard/Reservist and serve 20 years, AND do 31 years Federal employee time. " I explain to the OPM retirement specialist.

    "Oh, well your package doesn't say that", she says.

    Well, of course not, I think to myself. The forms don't give you a place to explain, I figured the fact that the 20-years of retirement points paperwork that I sent along in the FIRST TWO PACKAGES I SENT would suffice to explain it. There isn't a box to check on the regular FERS retirement form to ask what authority your military retirement pay is authorized under. It just says "are you getting military retired pay", and that's it.

    So I tell her I am getting 20 years of Guard retirement, about $1200 a month, under Chapter 12 of Title 10, for Army Guard Service. She says "DO you have your orders saying that?"

    "Of course", I say .

    I SENT A COPY OF THOSE ORDERS AND THE LETTER WITH THE FIRST RETIREMENT PACKAGE I SENT IN BACK IN AUGUST.

    Apparently the AGENCY person who processed my package removed my orders as being unnecessary, and they weren't in the package that eventually went to OPM.

    SO I scanned, and emailed, RETURN RECEIPT REQUESTED a copy of my military retirement orders, authorized under 10 USC 12731 (Reserve components retirement after 20 years).

    https://www.opm.gov/retirement-servi...y-retired-pay/


    • Under the provisions of Chapter 1223, Title 10, U.S.C. (pertaining to retirement from a reserve component of the Armed Forces).


    That was Tuesday, November 24th.

    Today was November 30th, and my file on-line at Services Online still does not show any further activity from OPM in the processing of my retirement. I still got today, the roughly 40% of my final FERS retirement "interim pay".

    Got my fingers crossed that DECEMBER will be the month they come through with my full retirement pay, and FERS supplement.

    As that 40% interim retirement pay alone is about to be a heavy lift- I am out of reserve cash that I had figured I would need after retiring on AUGUST 31, 2020, and still no final pension on December 1. I have not yet touched any of my TSP, and won't need to, IF my regular FERS pension and supplement comes through in the next week or two.

    If not, it's going to either require tapping the TSP, or just having a quiet Christmas at home.



    Lesson for all- save TWICE as much cash as you think you are going to need for the interim period when you retire, because OPM isn't necessarily the quickest agency out there.

    RowanandMartinLaughin.jpg

    I'm now officially at 92 days since my last dayof work,

    and 169 days since I formally sent my retirement package to my agency specialist to begin the process, because they wanted 60 days advance notice/submittal of package before retirement,

    and I don't yet have the end in sight.



    (sigh)
    owen-3.jpg

    Tune in NEXT MONTH, and find out-

    will JAMES still not be receiving his FERS pension and supplement?

    Will he be eating peanut butter and jelly?

    Or will OPM come through- and the pension, the supplement, and the four months back pay of difference come through and James will be eating steaks and lobster -just in time to share with Santa and the elves.

    TUNE IN AGAIN NEXT MONTH- .

    same-bat-time-same-bat-channel.jpg

    SAME BAT TIME.

    SAME BAT CHANNEL.
    Last edited by James48843; 11-30-2020 at 07:40 PM.


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