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getting close  
#1 Posted : Thursday, May 26, 2011 6:14:38 PM(UTC)
getting close

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I have benefitted greatly from reading about the experiences of those who have recently retired. I have noticed those discussions in a number of different threads. I would like to start a thread primarily for those folks retiring at the end of May or beginning of June.

Starting it as a separate thread might make it easier to share our experiences as we go through the process. It might also be interesting to others as evidence whether the promises made by OPM as to faster finalization and higher interim payments have any basis is reality. (I have noticed a certain skepticism about OPM promises on this message board, probably well-deserved.)

I will be retiring on June 3 after 42 years of service. I should be a reasonably straightforward case. Almost all my service was with one agency, though I did have a year-long break in service. I have one withdrawal of contibutions and redeposit, and I have about 2 1/2 years of military service but, since it was pre-1982 and I will not be eligible for Social Security when I retire, I will be credited with that service without a payment.

It's hard to believe that time has finally come but here I go.

jgve1952  
#2 Posted : Thursday, May 26, 2011 8:32:59 PM(UTC)
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I can offer some guidance as I just retired April 30th, and I hope they do go with your agency estimates, as was stated in a recent article from opm.  that article stated they reviewed the agency estimates and for the most part they were so close.  However, this did not happen to me!  Yesterday I received my notice for my June 1st annuity and it is 52% (gross amount) of what my retirement center (as part of the agency) gave me.  the supplement fers gets is not paid until finalization.  of course you are under csrs so your interim payment will be higher until you are finalized.  this should be four months since your paperwork will arrive when the examiners are trained and on their own. 

 i don't mean to rain on your parade, but....i understand that 2,200 postal workers have accepted a $20,000 buyout which had to be acted on by may 31st so i hope this won't cause any major delays.  bear in mind also, that mitigating circumstances like that, really can bog a system down.  i will be anxious to hear your results as i was only one month before you!
Jamact  
#3 Posted : Wednesday, June 01, 2011 4:51:29 AM(UTC)
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jgve1952 - I'm guessing you are FERS retiree....to wit, I am too.  Will retire here in EOM Sep.   Did you just work in one agency or many? Any particular nuiances with your app that we should know?   I understand FERS takes longer but does get a higher percent estimate of annuity.  Any insight on what you can provide is appreciated.  thx,
Wingman
jgve1952  
#4 Posted : Wednesday, June 01, 2011 5:12:29 AM(UTC)
jgve1952

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Jamact, yes I was CSRS and transferred when that was offered so I would maximize the TSP which I did very well and had very little in CSRS.  All my time is being counted for FERS.  I had 32.5 years with my 1/2 of sick leave and no CSRS component since it was less than five years when I transferred.  I am very pleased indeed:  I retired on April 30th, received my final pay with lump sum annual leave on May 13th, letter dated May 11th from OPM with CSA and today, 6-1-11, I may be one of very few people that received their first Interim Check on the 1st of the month (most people said it was more like six weeks after retiring (middle of the month following the 1st of the month in which they retired).  So I am pleased and hope to be finalized in the 117 days OPM is striving for.
Jamact  
#5 Posted : Wednesday, June 01, 2011 5:27:46 AM(UTC)
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Congrats on your retirement and 32 years of service.  I'll have 46 total but only 16 FERS and 30 Milretiree.  I'm looking forward to finaling playing with the GKids and traveling--once I get finalized.  Hopefully I will only have 120 or less days.  Thx for the update.

Wingman
Pjohnson  
#6 Posted : Wednesday, June 01, 2011 12:49:25 PM(UTC)
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getting close wrote:
I have benefitted greatly from reading about the experiences of those who have recently retired. I have noticed those discussions in a number of different threads. I would like to start a thread primarily for those folks retiring at the end of May or beginning of June.

Starting it as a separate thread might make it easier to share our experiences as we go through the process. It might also be interesting to others as evidence whether the promises made by OPM as to faster finalization and higher interim payments have any basis is reality. (I have noticed a certain skepticism about OPM promises on this message board, probably well-deserved.)

I will be retiring on June 3 after 42 years of service. I should be a reasonably straightforward case. Almost all my service was with one agency, though I did have a year-long break in service. I have one withdrawal of contibutions and redeposit, and I have about 2 1/2 years of military service but, since it was pre-1982 and I will not be eligible for Social Security when I retire, I will be credited with that service without a payment.

It's hard to believe that time has finally come but here I go.


Hi, I will also be retiring on June 3rd, with 28 years Post Office and 2 years military. I am CSRS, worked at the same Post Office the whole time, and paid back my military years ago.
I think it will be interesting for us to post to this thread about when the different steps occur.

Good luck to both of usSmile
LinkC  
#7 Posted : Thursday, June 02, 2011 6:35:50 AM(UTC)
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Congrats!  Tomorrow is the big day...enjoy.
"The nine most terrifying words in the English language are: 'I'm from the government and I'm here to help.'" <br />--what Reagan REALLY said.
Pjohnson  
#8 Posted : Saturday, June 04, 2011 5:18:19 AM(UTC)
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Well, I retired yesterday! It was interesting, since I am the one who arranges the retirements for everyone else, so I wasn't sure what was happening. They did a great job-we had cake and coffee in the morning, and speeches were made. I made a lengthy one myself, about all the things NOT to do while delivering the mail, pointing to each scar as I described it's origin! My postmaster was checking his watch, but after 28 years I figure they can give me 1/2 an hour.

I am still in a state of shock, but I know this was a good decision for me.

I will keep this thread updated as to how the whole interim process goes, and I hope everyone else does. Hopefully, it will be smooth for all of us.

Good luck to all of my fellow new retirees!

Guts  
#9 Posted : Saturday, June 04, 2011 5:23:33 AM(UTC)
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Congrats, and I hope you enjoy a long and healthy retirement!

A body of men holding themselves accountable to nobody ought not to be trusted by anybody." --Thomas Paine<br /><br />
jgve1952  
#10 Posted : Saturday, June 04, 2011 5:28:34 AM(UTC)
jgve1952

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I do wish you well, however, I do believe I read that 2,200 people in the Post Office took buyouts of 20K, FERS would have had to retire 5-31, CSRS up until 6-3-11.  There may be some delays with that many people all at one time, but on the positive side, OPM is supposed to give your Interim Pay close to the full estimate that your agency calculated plus since you don't have to rely on the FERS Supplement your entire annuity is your CSRS estimate (mine was basic annuity and Supplement which I don't get until finalized Ouch!  Also the 40 examiners are supposed to be on their own this month, thus enhancing the timeframe for finalization!!! jgve19522011-06-04 13:35:20
Pjohnson  
#11 Posted : Saturday, June 04, 2011 6:41:23 AM(UTC)
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jgve1952 wrote:
I do wish you well, however, I do believe I read that 2,200 people in the Post Office took buyouts of 20K, FERS would have had to retire 5-31, CSRS up until 6-3-11.  There may be some delays with that many people all at one time, but on the positive side, OPM is supposed to give your Interim Pay close to the full estimate that your agency calculated plus since you don't have to rely on the FERS Supplement your entire annuity is your CSRS estimate (mine was basic annuity and Supplement which I don't get until finalized Ouch!  Also the 40 examiners are supposed to be on their own this month, thus enhancing the timeframe for finalization!!!


I know-my heart sunk when I saw the dates that they gave them for the buyout. But from reading this board there is obviously no guarantee of anything, so I went ahead and decided on June 3rd.

And you can believe that I have read everything about OPM and will be curious to see if that "close to full" interim payment pans out, and if the new examiners make any difference.

I'm a cautious person, so I've saved up enough to live on for over a year if I receive ZERO interim payments if I am frugal. Of course, it would be great to be finalized in a timely fashion, but I'm okay either way. It helps enormously that I worked long hours of overtime for many years to pay off my house, the few thousand in debt that I had, and accumulate savings. I know that I  am very fortunate to be in this position.
It certainly makes retirement a lot more fun when you are not worrying about how screwed up OPM is.
So thank you for your well wishes!
hlucki  
#12 Posted : Saturday, June 04, 2011 7:19:48 AM(UTC)
hlucki

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Pjohnson wrote:
Well, I retired yesterday! It was interesting, since I am the one who arranges the retirements for everyone else, so I wasn't sure what was happening. They did a great job-we had cake and coffee in the morning, and speeches were made. I made a lengthy one myself, about all the things NOT to do while delivering the mail, pointing to each scar as I described it's origin! My postmaster was checking his watch, but after 28 years I figure they can give me 1/2 an hour.

I am still in a state of shock, but I know this was a good decision for me.

I will keep this thread updated as to how the whole interim process goes, and I hope everyone else does. Hopefully, it will be smooth for all of us.

Good luck to all of my fellow new retirees!
Congrats..Retirement is cool.  Just make sure you don't go shopping on the first, wait till the second.  For me, it felt like I was on Annual Leave...then it snowed, and I didn't have to go anywhere..watched traffic updates on TV...it was then I knew it was the real deal. Now with the nice weather, I stay up late and look through my telescope in my backyard.  It's frustrating dealing with OPM at first, but they are just doing their job..without any leadership.
The decision to retire probably was on of the best decision's I made...and never looked back.  Life is grand.  Enjoy your time..
Leon44  
#13 Posted : Saturday, June 04, 2011 8:20:00 AM(UTC)
Leon44

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Hello All:
 
I retired on 5/31 after 33 years. I'm CSRS. I'll post as well. It does feel odd at first not going to work but I think I can get use to it ;)
 
Leon
hlucki  
#14 Posted : Saturday, June 04, 2011 2:24:31 PM(UTC)
hlucki

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Leon44 wrote:
Hello All:
 
I retired on 5/31 after 33 years. I'm CSRS. I'll post as well. It does feel odd at first not going to work but I think I can get use to it ;)
 
Leon
Congrats Leon..It's not hard getting use to being retired.  I dig it. I'm glad I left when I did (12/31/10). I had 33 years as well..could have stayed a few more..but..it was time to go.  I started hearing about what they were proposing to do to Federal Employees..so I thought it was a good time to go.  I'm sure glad I did because it's getting worse than what was initially being talked about.  I remember when working for the Federal Government was a good job.  Great benefits, decent pay, not good, but decent..the benefits made up for the lack in pay. Now, they have taken everything which was attractive away..and now, making it very unattractive to work for the Federal Government.  The last good thing left was the CSRS Retirement System.  However, I suppose if one can't find anything better, working for the Federal Government is better than nothing...and they complain because they can't attract good people.
I don't miss it a bit, I never looked back. Life is Grand.
 
 
getting close  
#15 Posted : Sunday, June 05, 2011 6:14:14 PM(UTC)
getting close

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Congratulations PJ and Leon. Friday was my last day but this morning, when I didn't get out of bed at 4:30 to get ready for work, is when it felt my retirement had actually begun.

As to OPM, I'm hoping for the best, preparing for the worst, and expecting something in between. (I'll have a large annual leave payout to carry me through so I'm not really worried -- yet.)
LinkC  
#16 Posted : Tuesday, June 07, 2011 4:59:39 AM(UTC)
LinkC

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hlucki wrote:
 Now with the nice weather, I stay up late and look through my telescope in my backyard.  

OK, NOW you got my interest...  10" LX-200GPS   I do a monthly program called "StarTalk" for the local parks dept, and work with several schools by organizing star parties made up by volunteers from our club (Northeast Florida Astronomical Society (NEFAS).  I also enjoy setting up in the park on decent nights when the tourists are likely to stumble across me.  Also club-sponsored events, of course.
"The nine most terrifying words in the English language are: 'I'm from the government and I'm here to help.'" <br />--what Reagan REALLY said.
getting close  
#17 Posted : Thursday, June 09, 2011 11:18:57 PM(UTC)
getting close

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Well I retired on June 3 and I'm off to a good start (probably because OPM is not yet involved). I can already see through My Pay that my final paycheck next Tuesday will contain my annual leave payout. So that should carry me until the supposedly-new-and-improved interim checks start coming in.
rev1ddv2  
#18 Posted : Friday, June 10, 2011 12:29:36 AM(UTC)
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Gettingclose - Congratulations on your retirement.  I'm going to keep an eye on your posts.  My me and my husband will retire July 1.  Hope our retirements don't get lost in all the buyouts that are taking place. 
 
If you have time, please post when you get your first interim and let us know if it's close to your estimate - like OPM said they would do.  Thanks.
getting close  
#19 Posted : Friday, June 10, 2011 1:18:55 AM(UTC)
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Thanks, rev1ddv2. I certainly plan to post anything significant that happens. I've benefitted from others who have done the same and hope my experience can be of some value to those who follow.
Pjohnson  
#20 Posted : Friday, June 10, 2011 1:36:25 AM(UTC)
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Hey, I'm ALSO off to a good start! Retired June 3rd, and my final paycheck that I received today includes my annual leaveSmile. I was not expecting that, as I've read where it can be a month or so. A nice surprise!  I will post when I get anything more from either the USPS or from OPM.
I hope everyone else has good news.



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