Clester's retirement story

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2moryrs said:
And now that you have attained retirement benefits, might I suggest that you check out National Active and Retired Federal Employees (NARFE)association? It is the only organization actively standing up and protecting what we retirees worked for all our career, and what current employees are hoping to have when they reach retirement age.

If you join before end of year you save $12.00. If you are already retired and sign up for annuity allotment, you also save something.

With these economic times we are experiencing, membership is more important now than ever before.

Thanks for reading. :)

2moryrs (not!)
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Yes I will! Thanks :)
 
Update:
Yesterday I got my password to access and make changes to my account from OPM.

This morning I got the first regular/ full payment of annuity and supplement. It all appears correct. :)

The only possible issue left is filing taxes and claiming exemption for TSP withdrawals.

For other ATC'ers, I got 40% payout for SL and 50% added to years of service. So, 90% was accounted for! Not bad.
Also, my take home pay including all 3 legs of retirement is about 85% of working pay. Plus I don't have a boss anymore!

Also, you can work at another job until your MRA which is 56 for me without getting hit with the "windfall elimination provision" which reduces your supplement. After that you can make up to the social security max for this provision, which is about $14,000/yr , and avoid any reductions.

Now, a couple reminders. The supplement is a fixed amount until you reach age 62 (no cola). The TSP amount I chose (amoritization method under 72t) is fixed until age 59.5 or 5 years which ever is longer. ATC does get cola on FERS regardless of age.

Now... What to do today?? Hmmm.
 
Clester, I just noticed you are in Tennessee. One of my former bosses lives in Tennessee. He was not affected by the flooding this spring. I hope you weren't either.
Are you a Titans fan?

2moryrs (not!)
 
2moryrs said:
Clester, I just noticed you are in Tennessee. One of my former bosses lives in Tennessee. He was not affected by the flooding this spring. I hope you weren't either.
Are you a Titans fan?

2moryrs (not!)
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I am in the upper east Tennessee area. We were not affected. My sister lives south of nashville and had the rain but not flooding, thank goodness.

I do like the titans. My sister has season tickets.
 
Never had any season tickets to anything. Did get to go to a few Raiders games on someone elses season tickets.

We are due for some weather in the form of rain tomorrow. Hope it is minimal. Makes cleaning the horse pen a challenge.

2moryrs (not!)
 
Update on Newly Retired Federal Employees Waiting for Full Pension Checks:mad:
November 9, 2010

My Federal Retirement has received numerous inquiries regarding the recent news that newly retired federal employees are waiting six to 12 nonths to receive their full pension checks.
http://www.myfederalretirement.com/public/765.cfm​
 
clester said:
.... ATC FERS will give me 40% of high 3 plus supplement which equals about 11% for a total of 51%.

Hopefully, I will be able to start 72t withdrawals from TSP in July using Amoritization method.
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When calculating the percentage of your retirement vs your previous pay, don't forget to add in the 6.2% Social Security on the first $106k of your previous salary, the 1.45% Medicare you paid on all salary, & the 1.3% you were paying into the FERS retirement system - all of which you no longer have to pay.

And if you want to really feel good you can also calculate in the $16,500 per year you are no longer contributing to your TSP! - then add your 72t withdrawals into the mix.

Then - top that off by sending the spouse off to work who has been staying home all these years, and, well ...... :D :D
 
Texarkandy said:
When calculating the percentage of your retirement vs your previous pay, don't forget to add in the 6.2% Social Security on the first $106k of your previous salary, the 1.45% Medicare you paid on all salary, & the 1.3% you were paying into the FERS retirement system - all of which you no longer have to pay.

And if you want to really feel good you can also calculate in the $16,500 per year you are no longer contributing to your TSP! - then add your 72t withdrawals into the mix.

Then - top that off by sending the spouse off to work who has been staying home all these years, and, well ...... :D :D
Click to expand...

She keeps asking when she can retire. She's jealous. :)
 
Update on my Retirement:

Got a notice today from OPM that Dec's (tomorrow) Annuity check will be the normal one for the rest of the year..(HA! rest of the year..get it?:laugh:)..I retired July 2nd as some of you may recall..This Dec's check will be the first normal one, and for the rest of the year (that's funny)..Come January, the new Health plan rates go into effect and maybe the tax increase if Bush's cuts don't hold...

Currently, this making my total [net] monthly income ~$900 less than I was making while employed (or ~$5.60/hour less, based on a 160 hour work month)..I'm sure that's about average for CSRS retirees..something you must plan for..Fixed income has a new ring to it.:rolleyes:


Anybody know what Wal-Mart greeters get per hour?
 
burrocrat said:
just don't go buying a new ring for it. or at least get a prenup first, should help with the long term budget.

(watches are ok though) 'f' i hate to do this but here goes: :cheesy:
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Awwww..you looked cute in a smiley..



No rings comin out of this old man...those days are over..NEVER-NEVER-NEVER!....Unless she's rich as hell..:cool:..I'll settle for big boobs and a slim waist with a pretty smile

Current example:
Jenny.jpg


Besides, I have a 34 year old daughter that has given me grandkids..it's all the family I want now..
 
Buster said:
Anybody know what Wal-Mart greeters get per hour?
Click to expand...

not enough.

besides, they mostly only hire mouthbreathers for that position, and you ain't that stupid (although i'd bet you've spent some quality time in a trailer park or two...

anyways, nice catch, them smileys just creep me out, kinda like snakes.
 
Buster said:
Awwww..you looked cute in a smiley..



No rings comin out of this old man...those days are over..NEVER-NEVER-NEVER!....Unless she's rich as hell..:cool:..I'll settle for big boobs and a slim waist with a pretty smile

Current example:
Jenny.jpg


Besides, I have a 34 year old daughter that has given me grandkids..it's all the family I want now..
Click to expand...

when she stops by, do her bags have wheels on them?
 
Today is my 2 year anniversary of retirement! Wow, time flies.

My advice.... Do it as soon as you can.
 
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