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Retirement Planning


Whether you are close to federal employee retirement or just starting out in your career, this is the place to share ideas with your federal colleagues on creating a secure financial foundation.


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Margered  
#1 Posted : Thursday, February 16, 2012 1:39:45 AM(UTC)
Margered

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Not planning retirement yet, but just noticed box 20 on my pay stub.  "Cumulative retirement"  Says FERS current and goes up by the amount of "retire, FERS" deduction of .8% each pay check.  BUT, box 20 reset itself to some $2000 in 2010, after being some $20,000.  Still the same job.  Any input?
dhacker56  
#2 Posted : Thursday, February 16, 2012 2:13:11 AM(UTC)
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Get er checked out!

fedman53  
#3 Posted : Thursday, February 16, 2012 2:20:53 AM(UTC)
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Did your payroll processing center change in 2010? My agency went to DFAS in 2009 and I had to save my last paystub, prior to the switch, because the cumlative reset to zero. Could also be some sort of trucation error with a software change (But should have happened across the board
Fed1969  
#4 Posted : Thursday, February 16, 2012 3:36:16 AM(UTC)
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Margered wrote:

Not planning retirement yet, but just noticed box 20 on my pay stub.  "Cumulative retirement"  Says FERS current and goes up by the amount of "retire, FERS" deduction of .8% each pay check.  BUT, box 20 reset itself to some $2000 in 2010, after being some $20,000.  Still the same job.  Any input?

This probably means your payroll office changed.  You need to keep a copy of the pay stub showing $20k with your copy of your OPF.
bearlakeguy  
#5 Posted : Thursday, February 16, 2012 6:18:40 AM(UTC)
bearlakeguy

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Fed1969 wrote:


This probably means your payroll office changed.  You need to keep a copy of the pay stub showing $20k with your copy of your OPF.


I second that.  In going over my records today I noticed that when my employer changed over to DCPS Pensacola in 1996 my accumulated salary deductions for retirement started over.  The old payroll office accounted for all prior deductions on a certified SF3100 Individual Retirement Record.


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