Elgallo's Retirement story

[Elgallo]

A2Z: I received my lump sum for AL in my last check from the final PP worked before retirment. I have received the OPM ID# recently , but no PW as of yet. I only hope OPM finalizes my case in 4 months as I have heard that some folks wait for over a year! WTF eh!

 

[nnuut]

When I do receive my AL check it will be for 448 hrs which will be nice. A coworker who retired the same date as me has already received her ID# and password for the OPM site!!! Another coworker retired 8/31/2011 and his annuity was finalized within 4 months! Go figure!

Brace yourself for the taxes on that AL money, I think they took 20% Federal and 0% state. The good thing is come tax time I received a huge refund.

 

[A2Z1112]

Good thing is the wife and I prepared ourselves financially by paying off the bills and saving money for the long haul!!! Can only wait and continue to enjoy retirement!

 

[Elgallo]

Still NO freakin check. And I was all worried about living on 80% of what they owe me!

 

[clester]

Still NO freakin check. And I was all worried about living on 80% of what they owe me!

It's a real shame they can't do better. It was 6 months for me and I was calling them a lot. Once they finalized it it was correct and been smooth sailing though.

 

[clester]

When I do receive my AL check it will be for 448 hrs which will be nice. A coworker who retired the same date as me has already received her ID# and password for the OPM site!!! Another coworker retired 8/31/2011 and his annuity was finalized within 4 months! Go figure!

There is a dramatic difference between csrs and fers. I don't think they have the process down good for fers yet.

 

[A2Z1112]

I also have received my AL check but that is it. No interim annuity from OPM as of today!!! Infact, I have not received any correspondence from OPM thus far!!!

 

[nasa1974]

I also have received my AL check but that is it. No interim annuity from OPM as of today!!! Infact, I have not received any correspondence from OPM thus far!!!

WOW!!! I would be calling them every day until something broke loose.
I am planning on retiring June 1st maybe as early as April 3rd (if a job offer comes through. They want to hire me but are waiting on their final budget). I have requested different dates from NSSC so I hope most of my stuff is ready to go. Hoping for the best but planning for the worst.
A2Z good luck.

 

[Dutchy]

I also have received my AL check but that is it. No interim annuity from OPM as of today!!! Infact, I have not received any correspondence from OPM thus far!!!

On what date did you retire please? I'm retiring 2/29/12. Thanks!

 

[A2Z1112]

I retired 12/31/2011. Two other folks that retired with me have already started receiving their interim pay...app. 2 weeks ago along with their AL payout. They were straight FERS whereas I am CSRS/FERS! Don't know if that matters nor why!

 

[Dutchy]

THanks for the info.... A2Z1112. Any knowledge is a good thing! Oh... and good luck on getting your annuity very soon!

 

[A2Z1112]

Thanks Dutchy...Will keep my post updated.

 

[clester]

I also have received my AL check but that is it. No interim annuity from OPM as of today!!! Infact, I have not received any correspondence from OPM thus far!!!

On what date did you retire please? I'm retiring 2/29/12. Thanks!

I retired may 31, 2010 and got ALpay about 6 weeks later. Interim payments were very low and included no supplement. You need to use that AL pay to tide you over for about 6 months. My full retirement showed up Nov 1, 2010. TSP get the money out monthly and starts whenever you want. They did a great job.

 

[Bquat]

I think I had posted this suggestion in the retirement suggestions thread. For those of you planing to retire this year, you may want to put more cash aside for the wait. With the threat of stoping the suppliment, increasing the amount you pay for retirement, pay freezes and maybe going to high 5 for figuring retirement, I feel there will be a record amount of retirees this year. There will also be more FERs and CSRS offset persons retiring. This and the longer time needed to figure CSRS offset peoples retirements will make average waits that been from 6 to 8 months to be close to a year. If you don't have a lot of annual leave to roll over and don't expect a big bonus on Jan 9th or so. You may want to beat the Nov 30 to Jan 31 prime retirement dates. Just my opinion. I didn't work for OPM buy if there's a record retirement, you might want to beat the big backlog comming.

 

[nasa1974]

I think I had posted this suggestion in the retirement suggestions thread. For those of you planing to retire this year, you may want to put more cash aside for the wait. With the threat of stoping the suppliment, increasing the amount you pay for retirement, pay freezes and maybe going to high 5 for figuring retirement, I feel there will be a record amount of retirees this year. There will also be more FERs and CSRS offset persons retiring. This and the longer time needed to figure CSRS offset peoples retirements will make average waits that been from 6 to 8 months to be close to a year. If you don't have a lot of annual leave to roll over and don't expect a big bonus on Jan 9th or so. You may want to beat the Nov 30 to Jan 31 prime retirement dates. Just my opinion. I didn't work for OPM buy if there's a record retirement, you might want to beat the big backlog comming.

That's why I'm planning to go between April and June. Less bodies.

 

[Elgallo]

Folks: My first interum retirement check was auto deposited yesterday, and I also received my temp password from OPM in the mail the same day. At least I can now set up my state tax witholding. Once that's done it's only a matter of time until OPM finalizes my retirement.

 

[Dutchy]

Elgallo, Glad to hear it... Please review, when did you retire? And how did your check look as far as percentages etc..?? I'm told expect 80% of your gross est. annuity for Fed service only no military if bought back. Thanks.

 

[nasa1974]

Folks: My first interum retirement check was auto deposited yesterday, and I also received my temp password from OPM in the mail the same day. At least I can now set up my state tax witholding. Once that's done it's only a matter of time until OPM finalizes my retirement.

Elgallo, congrats. Rounding the last turn and heading for home.

 

[Elgallo]

Elgallo, Glad to hear it... Please review, when did you retire? And how did your check look as far as percentages etc..?? I'm told expect 80% of your gross est. annuity for Fed service only no military if bought back. Thanks.

I retired on 31 Dec 2011, the intrium check was appx 80% of the total amount ultimatly due me with no state tax witholding or witholding for medical/life Ins.. I was not aware of the gotcha regarding the interium payment and it not covering bought back military service on the short term. It's just another way to screw us just abit longer.

Retirement....I HIGHLY recommend it!!

 

[Bquat]

I retired on 31 Dec 2011, the intrium check was appx 80% of the total amount ultimatly due me with no state tax witholding or witholding for medical/life Ins.. I was not aware of the gotcha regarding the interium payment and it not covering bought back military service on the short term. It's just another way to screw us just abit longer.

Retirement....I HIGHLY recommend it!!

Yea I bought 8 years back and got 24/40, so come on 62 and a pay raise. I'm 59 now.