ALFAMAN'S retirement story

Sort by newest Sort by date
A

alfaman

Rising Member
Reaction score
3
Well looks like I’m finally going to retire 12/31/2020 at age of 63 and 10 months, so I thought I would start a thread….suggestions and comments welcomed.

Thanks to all on this site who have helped me along the way, here is a thread I started last year:
https://www.tsptalk.com/mb/retirement-and-ira-talk/31724-longing-retire.html

I have recently downloaded and printed my entire eopf folder up until now. I will check once more and print-out anything added or updated to my folder just before I retire.

Figuring in sick leave, I will have a total of 35 years and 10 months and 19 days….but don’t forget…those 19 days are not actual days…you must multiply any leftover days under 30 by 0.725 to get a true estimate on how many days you can “burn”, so I have corrected the calculation as follows (19 days X 0.725 = 13.775 actual days leftover)

So…..actual time is 35 years 10 months and 13.775 days…..i have already scheduled 5 days for medical appts, therefore I have about a week SL to use if needed (but probably will not use anymore SL because I like about a week “buffer”). My supervisor is aware of my plan, she’s always been above board with me and I will be the same way with her.

Also will have about 275 hours AL to cash in and I understand tax on that will be calculated in the 2021 tax year.

I sent for my retirement estimate and uncovered a potential problem….Last year, I updated/changed my FEGLI to cancel “B” and keep “basic” and “part A” . HR made a mistake and cancelled “A” and kept “B” …after about 2 months of trying, I finally thought I had corrected the error, but my retirement estimate still had “B” and no “A”….I questioned this and my online WMC worker replied with this:

“I have the information you provided, however we use your elected insurance per HR Smart to complete estimates, and it appears that your insurance in HR Smart was never updated. I would be more than happy to run another estimate for you on Monday with the proper insurance elected.”

I did get another corrected estimate, but have no way to check if “HR Smart” has been updated correctly…please note my paycheck has been correct for several months…bottom line, there can be a disconnect between “HR smart” and payroll. I will be following up with some live HR people at my facility (if I can find them!) Another concern is I have to make sure that HR reflects that I had “A” for over 5 years, and their mistake did not mess up that calculation (as I understands it, you must have FEGLI for at least 5 years to keep it into retirement).

Since my wife is 10 years younger than me, I plan on taking SS at 70 (so she can have my stepped up SS amt when I’m gone), and will use the 50% survivors benefit on my annuity. She does not have enough work credits on her own for SS.

Well that’s all for now
 
Congrats ALFAMAN!! Thanks for the warning on the sick leave computations regarding the leftover (burn) days under 30. That .725 turns out also to be 5.8 hours per every 8 hours.
Where did you download and print your entire eopf file?
Thanks
 
buffalobull said:
Congrats ALFAMAN!! Thanks for the warning on the sick leave computations regarding the leftover (burn) days under 30. That .725 turns out also to be 5.8 hours per every 8 hours.
Where did you download and print your entire eopf file?
Thanks
Click to expand...

[FONT=&quot]Here is the link I used for eopf file, but you may have to go thru you facility to get the appropriate link:[/FONT]
[FONT=&quot]Agency: https://eopf.opm.gov/va/[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Also some videos on submitting a “healthy” federal retirement package[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]https://www.youtube.com/watch?v=zobxqyxwB3A[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]https://www.youtube.com/watch?v=6dv-6qkKuGw[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]https://www.youtube.com/watch?v=ALTPNoX683k[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]https://www.youtube.com/watch?v=clihsP2UAoM[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]https://www.youtube.com/watch?v=hN0ssrlq4d0&t=5018s[/FONT]
 
Alphaman,

I don't think you are allowed to have Option B without Option A under FEGLI. Although it is good to get everything straightened out, I don't think you need to worry about it carrying to retirement.
You will need to decide if you want to keep FEGLI at current level or choose one of the reductions. At age 65, there is no additional cost with the 75% reduction. With the 50% reduction or keeping at current level it, cost goes up substantially https://www.opm.gov/retirement-serv...fits-administration-letters/2015/15-203a1.pdf
 
Congrats Alfaman. Good to get started on this early. I also saved all my eopf stuff over time and also emailed it home so I have it. Mainly did it that way as my agency didn’t allow use of personal thumb drives and frowned on plugging work ones in at home. It was a tedious process.

On that subject, for buffalobull, your agency should be able to give you the link to your eopf. Downloading it was tedious. There was a folder to put files in to but when I saved that it was a large pdf file with all docs. So I saved them one by one. I also renamed them with a date at the beginning so I could find them easier. For example something like “2016-5-15 pay adjustment”. Then if made folders for each year. It has helped find stuff. Just a suggestion. It may be easier 1.5 years later. The main thing to remember is that once you are retired you no longer have access to your eopf. My HR person said they were out in the national archives and might be available eventually. OPM claims not to have them.

Alfaman, one of the things I found that is often misunderstood is that once OPM accepts your retirement package your local HR has no more to do with your retirement. OPM will send you a “claim” number eventually. I would suggest you make sure you have the email address of the HR person handling your retirement package and a local HR person. (if you can find them, love it as we had one for over 500 employees) That way you can email them from home with any problems or just to say thanks if everything works out well. One thing I should have done is try to send my work outlook contacts home.

PO
 
am only going to keep basic and option A...option B too expensive and i cancelled it....only a couple years to 65 so i will keep the insurance until it becomes free
evilanne said:
Alphaman,

I don't think you are allowed to have Option B without Option A under FEGLI. Although it is good to get everything straightened out, I don't think you need to worry about it carrying to retirement.
You will need to decide if you want to keep FEGLI at current level or choose one of the reductions. At age 65, there is no additional cost with the 75% reduction. With the 50% reduction or keeping at current level it, cost goes up substantially https://www.opm.gov/retirement-serv...fits-administration-letters/2015/15-203a1.pdf
Click to expand...
 
I just talked to the head of HR at my facility and she stated everything...and she stressed everything is handled now online...and this has nothing to do with the virus according to her...we will see..i told her i intended to contact her anyway when i get my package together..i have already taken much of your suggestions of emails/contacts etc, thanks for the suggestions

PessOptimist said:
Congrats Alfaman. Good to get started on this early. I also saved all my eopf stuff over time and also emailed it home so I have it. Mainly did it that way as my agency didn’t allow use of personal thumb drives and frowned on plugging work ones in at home. It was a tedious process.

On that subject, for buffalobull, your agency should be able to give you the link to your eopf. Downloading it was tedious. There was a folder to put files in to but when I saved that it was a large pdf file with all docs. So I saved them one by one. I also renamed them with a date at the beginning so I could find them easier. For example something like “2016-5-15 pay adjustment”. Then if made folders for each year. It has helped find stuff. Just a suggestion. It may be easier 1.5 years later. The main thing to remember is that once you are retired you no longer have access to your eopf. My HR person said they were out in the national archives and might be available eventually. OPM claims not to have them.

Alfaman, one of the things I found that is often misunderstood is that once OPM accepts your retirement package your local HR has no more to do with your retirement. OPM will send you a “claim” number eventually. I would suggest you make sure you have the email address of the HR person handling your retirement package and a local HR person. (if you can find them, love it as we had one for over 500 employees) That way you can email them from home with any problems or just to say thanks if everything works out well. One thing I should have done is try to send my work outlook contacts home.

PO
Click to expand...
 
i just found out that in order to have my california income tax withheld from my pension, i need to send in a "memo" on with my package directing how much i want withheld...never knew this and when i contact opm, i will ask them what exactly must i send them and in what form they need it in...
 
well. i sent in my request to send me my retirement application about a month ago and have not heard a darn thing....so i called them and they said they don't even look at requests until 60 days before requested retirement date...i am calling bull on that, so i plan to call them again on monday....wish our HR was open at our facility...any suggestions would be appreciated...date of retirement is 12/31/2020
 
well finally got a response...so i guess i will wait for them to send me the retirement application...

"[FONT=&quot]Congratulations on your decision to retire! The VHA-Retirement Shared Services Office (RSSO) has received your request and would be happy to complete a retirement package for you. Your case has been sent to our Distribution Center to be created. The case will be assigned to a Retirement Specialist 60 days before your firm retirement date. The Counselor will contact you within 5 business days after it is assigned to them and will let you know if any additional information is needed. [/FONT][FONT=&quot] [/FONT]
[FONT=&quot]If your firm retirement date is more than 60 days away and you have not received an estimate within the past 2 years, please submit a separate request for a retirement estimate.[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]If you have any questions, please give us a call at our toll-free VA Retirement Hot Line 866-330-7366 any time between 7:00 am and 5:00 pm Central Time. We look forward to assisting you with your retirement needs. "[/FONT]
 
alfaman said:
well finally got a response...so i guess i will wait for them to send me the retirement application...

"Congratulations on your decision to retire! The VHA-Retirement Shared Services Office (RSSO) has received your request and would be happy to complete a retirement package for you. Your case has been sent to our Distribution Center to be created. The case will be assigned to a Retirement Specialist 60 days before your firm retirement date. The Counselor will contact you within 5 business days after it is assigned to them and will let you know if any additional information is needed.
If your firm retirement date is more than 60 days away and you have not received an estimate within the past 2 years, please submit a separate request for a retirement estimate.

If you have any questions, please give us a call at our toll-free VA Retirement Hot Line 866-330-7366 any time between 7:00 am and 5:00 pm Central Time. We look forward to assisting you with your retirement needs. "
Click to expand...
One more step completed alfaman. I think I know how you feel. The most important event in your life (one of them maybe) and some fed in another office sends you a canned email. Yeah, we’ll get to it. Fear not.
On the up side, most MB members that posted retirement stories did receive their final paychecks on time and leave sell back within a couple of weeks. Mine was included in the final paycheck. Interim payments started the second month of retirement, 2/7/19. It sucks not knowing until November for sure.

alfaman said:
i just found out that in order to have my california income tax withheld from my pension, i need to send in a "memo" on with my package directing how much i want withheld...never knew this and when i contact opm, i will ask them what exactly must i send them and in what form they need it in...
Click to expand...
I sent the required memo and it was ignored. For fed income tax, I left it at the default which was nowhere near enough. For state taxes they never withheld anything, stating payments were less than 6 months in spite of the fact they started in February. I would be prepared to owe both CA and the fed something next year. Plus penalties. Sometimes you can get those penalties waived.

In spite of the pains involved in being a member of the OPM SOL club, It all worked out slowly and I love being retired.

SOL is the “Services on Line” web site for OPM retirees. I get a chuckle out of that.

I hope it all works out but understand it is filled with angst.

PO
 
PessOptimist said:
One more step completed alfaman. I think I know how you feel. The most important event in your life (one of them maybe) and some fed in another office sends you a canned email. Yeah, we’ll get to it. Fear not.
On the up side, most MB members that posted retirement stories did receive their final paychecks on time and leave sell back within a couple of weeks. Mine was included in the final paycheck. Interim payments started the second month of retirement, 2/7/19. It sucks not knowing until November for sure.

I sent the required memo and it was ignored. For fed income tax, I left it at the default which was nowhere near enough. For state taxes they never withheld anything, stating payments were less than 6 months in spite of the fact they started in February. I would be prepared to owe both CA and the fed something next year. Plus penalties. Sometimes you can get those penalties waived.

In spite of the pains involved in being a member of the OPM SOL club, It all worked out slowly and I love being retired.

SOL is the “Services on Line” web site for OPM retirees. I get a chuckle out of that.

I hope it all works out but understand it is filled with angst.

PO
Click to expand...

thanks...i will try to make sure my memo is not ignored.....i already changed both my federal and state withholding in case they do ignore my request..federal, married no depend...and single for california state (not married, although i am)
 
Bullitt said:
So many useless employees are using "these troubling times" as an excuse not to do work. I hope they get it right for you.
Click to expand...

I called the hotline yesterday and the agent assured me that i will be sent the application within 2 months of my hard retirement date....she had also heard of the state withholding memo...so i hope whoever they assign me to has heard of it as well...stay tuned
 
well everything seems to be done on a site now...received this email

Good afternoon everyone! It’s your counselor for your Retirement. I understand Retirement is a hectic time full of questions and mixed emotions. I’ve attached some information for you to review while waiting for your packages that may answer some questions you have now. These are things I find people have the most questions on.

You are also receiving this email because you are on my case load to retire either 12/30/2020, 12/31/2020, 1/1/2021, or 1/2/2021.
This month we started using what’s called the GRB(Government Retirements and Benefits) platform for cases. This platform allows you to receive notifications to your email on the status of your retirement request as I’m working on it. It also acts as a secure portal that I send you documents, and you can upload them to me as well. You have to access this through a VA gov. computer.

What is the timeline? We submit your application to DFAS during the pay period that you retire December 20[SUP]th[/SUP] – January 2[SUP]nd[/SUP]. Ideally I would like to get your signed applications back by December 11[SUP]th[/SUP]-14[SUP]th[/SUP] through the GRB platform/website. It may be sooner that you turn it in. I don’t want you to be worried or wondering when they need to be turned in by. Again this is where GRB comes in handy because you will be getting email notifications as your application moves through the process. Each of your cases is very important to me and I would like to ensure I do a thorough job.

Your cases have been or will be moved to the GRB platform for processing. If you have already turned in a completed application please disregard. You should get an email when your case has been opened on the platform. I’m working on this today. There is not much you have to do on the platform until I have your application ready for you to sign. You can plug your TSP information in and it shows you how much you have, kind of cool!

Click on this supplied link to log into the GRB Full Platform and get started. You will be directed to enter your PIV password, click ‘launch application’, a video will play, and then it will take you to your profile. This is where you can enter in personal information and will see documents as I add them for your signature. PLEASE DON’T CREATE A VOLUNTARY RETIREMENT OR ESTIMATE CASE, I’VE SET THAT UP FOR YOU ALREADY

I will also be sending out an invite for anyone interested in reviewing the application together, to answer some questions, and to hear others questions that you may not have thought of. This is optional. There are also seminars you can attend, led by my Retirement Specialist Coworkers- click the registration link below and sign into TMS, and register. Also optional. You can never have too much information �� If the classes below don’t work with your schedule, click on the RSSO SharePoint Site link and click ‘training’ to see other times/availabilities. There are also GRB videos you can watch, no audio but will help you.

There is also a FERS retirement seminar
For: All Employees
Class Name: FERS Retirement Seminar
VA TMS ID #:
Scheduled Offering #
Date: November 12, 2020
Time: 1:00 pm - 4:00 pm

1.To register, click the following link:

Registration Link: FERS Retirement Seminar

2.To attend the training event, click the following Join Microsoft Teams Meeting link:
 
You must log in or register to reply here.

Similar threads

James48843
Retirement- keeping busy? Or making an impact?
Replies
8
Views
643
evilanne
evilanne
JTH
  • Article Article
A Rare November: 2007 Vibes
Replies
0
Views
125
JTH
JTH
JTH
  • Article Article
📊 Stats: Closing Out 2025
Replies
2
Views
150
JTH
JTH
Epic
The age 65 Medicare decision.
Replies
11
Views
755
FAAM
FAAM
JTH
  • Article Article
Blog: AI-50 Bubble Brief
Replies
0
Views
176
JTH
JTH
Back
Top