Kaufmanrider's Retirement Story

[Kaufmanrider]

Last official day Jan. 11, 2014. Got a call this morning at 6:00 a.m. (so much for sleeping in) from my last supervisor that the Time and Attendance Clerk in DC couldn't find my PP 26 Time and Attendance Sheet and they had to get it keyed today so that I get paid on Jan 21, 2014. I worked in California and had to scan and send my T&A each PP to DC. I am thinking maybe when the IT folks closed my Agency e-mail account all my e-mails were deleted?

Agency said not to worry, they will get me keyed.

I guess I can trust my agency. They did call me bright and early to notify me and verify my work schedule for PP26? That's a good sign, right?

I decided to check my National Finance Center-Employee Express Account this morning. Big bold red message said that since I am now retired my account will be closed within 90 days unless I return to Fed. Employment. Yea, right. :laugh:

 

[Scout333]

I decided to check my National Finance Center-Employee Express Account this morning. Big bold red message said that since I am now retired my account will be closed within 90 days unless I return to Fed. Employment.

Thanks for putting this out there! Good to know. I quit keeping paper copies years ago. Guess I'll download copies. What a pain! Any better ideas out there?

 

[nasa1974]

The last few months before I retired I had hard copies of any important documents I thought I would need and kept them in a folder. Fortunately I didn't need them. Kaufmanrider, congrats on retirement. It's a whole new world.

 

[Templefan]

Congrats Kaufmanrider! retired on the same day as you and checked the EPP page today and got the same message.

Hopefully we will all be finalized soon.

 

[Kaufmanrider]

The last few months before I retired I had hard copies of any important documents I thought I would need and kept them in a folder. Fortunately I didn't need them. Kaufmanrider, congrats on retirement. It's a whole new world.

Good point NASA. Before I retired I went to my on-line Personnel File and downloaded everything in it, printed it out and put it in a big three ring binder. I included hard copies of my retirement packet my agency submitted to the National Finance Center.

 

[Kaufmanrider]

No annual leave check, yet. But it's only been two weeks. No word from OPM on receiving my paperwork.

I did log onto my TSP account and discovered the links for a partial or full withdrawal after leaving Federal Service are now active. The in-service withdrawal links no longer work. Therefore, the TSP must have received the notification I am retired. That's a positive sign.

I completed and printed the form for a full withdrawal, called Schwab and opened a Roll-over IRA. Monday my wife and I will sign the roll-over application and get it notarized at our bank before driving to the Schwab Office in Dallas for them to complete their portion. Then I'll fax it to TSP. For some reason I thought you couldn't move the money until 30 days after retirement? Maybe that's true. If so I'll have the request sitting in their office ready to roll. Feb 11 is my 30 day mark.

Good thing I am sitting in the G fund.

 

[nnuut]

SOUNDS LIKE YOU ARE ON YOU'RE WAY, IT TAKES A WHILE.

 

[burrocrat]

No annual leave check, yet. But it's only been two weeks. No word from OPM on receiving my paperwork.

I did log onto my TSP account and discovered the links for a partial or full withdrawal after leaving Federal Service are now active. The in-service withdrawal links no longer work. Therefore, the TSP must have received the notification I am retired. That's a positive sign.

I completed and printed the form for a full withdrawal, called Schwab and opened a Roll-over IRA. Monday my wife and I will sign the roll-over application and get it notarized at our bank before driving to the Schwab Office in Dallas for them to complete their portion. Then I'll fax it to TSP. For some reason I thought you couldn't move the money until 30 days after retirement? Maybe that's true. If so I'll have the request sitting in their office ready to roll. Feb 11 is my 30 day mark.

Good thing I am sitting in the G fund.

yes! schwab is da bomb. check out their almost free etf's that trade real time with no limits. scha = S fund proxy, x = C fund, f = I fund, r = G, and z = F, or close enough. you don't have to change your tsp 5 fund strategery. free yourself from that creepy uncle sam that keeps double dipping, make it your money.

 

[Stoplight]

Kauf,

I THINK the 30 day window on the TSP is just for the notification to them that you're retired...once they receive that from your Agency (and it sounds like they have !), you can withdraw to your heart's content ! I think I got notification from them that they had my retirement info within 2 weeks, but it came by snail mail...

One word of warning : I had an almost-catastrophic screw-up with my FAXED rollover form to the TSP ! Yes, it's faster than snail mail...but if you go that route, fax it from Schwab's office, using a REAL fax machine...DON'T use a scanner/computer fax modem, like I did (yeah...I'm a dinosaur !) Also, call the TSP and verify they got the correct info...the TSP agent told me the incoming faxes to TSP go into an electronic pool, and then get farmed out for action...just make sure they got ALL the pages !

Best of luck !!!

Stoplight...

 

[Kaufmanrider]

Thanks Stoplight. Maybe I'll just stop by the Post Office and overnight or Express Mail it with a confirmation/signature receipt. I picture one fax for TSP and with all the junk faxes you get in addition to legit faxes who knows
where everything winds up???

 

[Kaufmanrider]

Got the TSP form notarized at my bank and then went to the Schwab office so the representative could filled out his portion. I stopped by FedEx to mail it, however, TSP only provides a PO Box and FedEx does not deliver to a PO Box so I faxed it from the FedEx office.

No sooner did I get home then a Rep from Schwab called to offer services. Due to my roll-over dollar amount, (I am not a TSP Millionaire, not even halfway, but close ) they are giving me 100 free trades (stocks and EFT's) for 6 months. They also offered a private consultation with an Options Expert in the Dallas Office next month and access to Streetsmart Edge their on-line trading program. I already have Streetsmart Edge and I signed up to attend virtual on-line training class for it and trading basics tomorrow Gotta love the customer service. They make me feel like a big roller not a poor burned out Federal Retiree I really am.

Not sure about options? I don't know enough about them. I'll have to do some research. I always intended on keeping a small amount on the side to play with.

On another note, I contacted a person I know in my HR in DC . I relocated at retirement from California to Texas and didn't want California to take state tax from my lump sum. She sent me a copy of the lump sum form they sent to NFC dated today showing my home/state of record as Texas. I am assuming maybe this weekend when the next pay posts for Fed's my annual leave lump sum will arrive. No dollar amount I can see but I hope there is enough for a new 60 inch TV.

 

[Kaufmanrider]

TSP is efficient.

Pending Full Withdrawal Request.
Your full withdrawal request is being reviewed. Requests received via fax or the US mail will generally be processed within 7 to 10 business days of receipt.

 

[burrocrat]

Got the TSP form notarized at my bank and then went to the Schwab office so the representative could filled out his portion. I stopped by FedEx to mail it, however, TSP only provides a PO Box and FedEx does not deliver to a PO Box so I faxed it from the FedEx office.

No sooner did I get home then a Rep from Schwab called to offer services. Due to my roll-over dollar amount, (I am not a TSP Millionaire, not even halfway, but close ) they are giving me 100 free trades (stocks and EFT's) for 6 months. They also offered a private consultation with an Options Expert in the Dallas Office next month and access to Streetsmart Edge their on-line trading program. I already have Streetsmart Edge and I signed up to attend virtual on-line training class for it and trading basics tomorrow Gotta love the customer service. They make me feel like a big roller not a poor burned out Federal Retiree I really am.

Not sure about options? I don't know enough about them. I'll have to do some research. I always intended on keeping a small amount on the side to play with.

On another note, I contacted a person I know in my HR in DC . I relocated at retirement from California to Texas and didn't want California to take state tax from my lump sum. She sent me a copy of the lump sum form they sent to NFC dated today showing my home/state of record as Texas. I am assuming maybe this weekend when the next pay posts for Fed's my annual leave lump sum will arrive. No dollar amount I can see but I hope there is enough for a new 60 inch TV.

if you have a smartphone you can pipe the streetsmart feed through the ether to that 60" tv and feel like the big boys on wall street, except without all the hookers and cocaine. but if you shop at walmart and settle for a 48" screen and install it yourself, you could probably afford some of them too. go schwab!

 

[nasa1974]

TSP is efficient.

Pending Full Withdrawal Request.
Your full withdrawal request is being reviewed. Requests received via fax or the US mail will generally be processed within 7 to 10 business days of receipt.

Looks like everything is moving right along. Congrats.

 

[Kaufmanrider]

Checked my TSP this morning. I now have a zero account balance. Checked the "Statements" section of my account and there was a letter informing me the full withdrawal was completed Jan 29, 2014 with the details/amount and that the check was mailed to Schwab.

18 days after retirement and three days after I faxed the withdrawal request. Gotta hand it to TSP. Still waiting on OPM to notify me they received my retirement package. I wish they were as efficient as TSP.

 

[Kaufmanrider]

Annual leave check arrived. No word from OPM, yet. I was FERS and my retirement counselor had said the packet is sent within 30 days of retiring. I'll give it another week before I start asking.

I received a letter from Benefeds informing me they were notified of my retirement and that they will work with OPM on my payments for Dental/Vision but in the interim I might receive a bill.

Lump Sum was completed today. I know have a pile of cash in my Roll-Over IRA. I'll watch the markets and not jump in too soon.

 

[Scout333]

Sounds like you are making progress also. I read somewhere that you need your OPM Claim Number to contact OPM re your retirement.

 

[john49]

Same here, Al check arrived but nothing from OPM. Benfeds sent me a no pay status letter letting me know what my deduction for Dental will be taken out of the annuity. I called them a couple weeks ago they told me to ignore any bill and my annuity deduction will encompass any payment that was behind. God I love this retirement status!!

 

[Kaufmanrider]

One correction. I said lump sum was completed today. Which is true but I meant to say my Full Withdrawal from TSP was completed.

 

[Kaufmanrider]

I received a letter from the National Finance Center, my pay center, that my Individual Retirement Record was forwarded to OPM Feb 4, 2014. My first interim should be March 1, so it looks like things are on schedule.

On a side note, I started diversifying my roll-over last week into the markets. 30% will be in 20-30 dividend paying stocks, 50% in a Lazy Portfolio (80-20 Stock/Bond split) and the final 20% will be my market timing portfolio.

Of course, the percentages may change over time.