nasa1974's retirement story

[nasa1974]

So now it begins.

Elgallo has done a great job and I will still follow his progress. Just figured I would add my 2 cents without cluttering up Elgallo's retirement thread.

I am CSRS and will have 42 years and a few days (including military time) when I retire May 3rd.

Late yesterday I got the E-mail from NSSC (NASA Shared Services Center) with the links for my retirement paperwork.
SF-2801 Application for Immediate Retirement, CSRS
SF-2818 Continuation of Life Insurance Coverage
These forms need to be filled out as soon as possible and FAXed to NSSC for review. If everything looks good then they have to be signed and mailed. Then the process begins in earnest

There are other forms that can be filled out but not required. Some for TSP, but I need to do a little more research for the TSP stuff.

 

[nasa1974]

I FAXed my retirement papers to NSSC today. The clock is ticking. Not sure what I want to do with my TSP yet. Thinking of taking a one time withdrawl to buy a new truck. Need to do a little more research. No penalties though since I will be 60 in May.

 

[Stoplight]

Nasa,

So you've decided to pull out 3 May ? CONGRATS !!!

You've inspired me to start my retirement experience thread, too...I'm going 30 April (end of month), so maybe others will benefit from our experiences ! You're CSRS ; I'm FERS...you're going 3 May (end of pay period for you, to get the A/L ?). I'll lose the 8 hrs a/l 'cause I'm in mid-pay period...oh well !

Best wishes in your retirement, and may all the paperwork go smoothly !

Stoplight...

 

[Handballer]

I FAXed my retirement papers to NSSC today. The clock is ticking. Not sure what I want to do with my TSP yet. Thinking of taking a one time withdrawl to buy a new truck. Need to do a little more research. No penalties though since I will be 60 in May.

Nasa you are a very nice person. Enjoy your retirement. I wish I would be 60 in May. They say you can't turn back time.

 

[James48843]

Congrats on making it there. I wish you all the best- enjoy it.

 

[nasa1974]

Nasa,

So you've decided to pull out 3 May ? CONGRATS !!!

You've inspired me to start my retirement experience thread, too...I'm going 30 April (end of month), so maybe others will benefit from our experiences ! You're CSRS ; I'm FERS...you're going 3 May (end of pay period for you, to get the A/L ?). I'll lose the 8 hrs a/l 'cause I'm in mid-pay period...oh well !

Best wishes in your retirement, and may all the paperwork go smoothly !

Stoplight...

Thanks Stoplight. May 3rd is a Thursday and the pay period ends Saturday the 5th. So I will not get credit for the annual leave or sick leave for that pay period. Retiring May 3rd my first retirement check will show up in early June. If I retired on the 4th to get credit for AL and SL my retirement check would be delayed until early July. I will gladly give up the AL and SL so the check shows up a month early. Good luck with the April date.

 

[nasa1974]

Nasa you are a very nice person. Enjoy your retirement. I wish I would be 60 in May. They say you can't turn back time.

Thanks HB.

 

[nasa1974]

Congrats on making it there. I wish you all the best- enjoy it.

Thanks James.

 

[Stoplight]

Thanks Stoplight. May 3rd is a Thursday and the pay period ends Saturday the 5th. So I will not get credit for the annual leave or sick leave for that pay period. Retiring May 3rd my first retirement check will show up in early June. If I retired on the 4th to get credit for AL and SL my retirement check would be delayed until early July. I will gladly give up the AL and SL so the check shows up a month early. Good luck with the April date.

DUH <slapping forehead> ! You said you were CSRS...that's one of the differences between you and me, as a FERS Guy ! I gotta go the end of the month, for the same reasons you cite...

Stoplight...

 

[uscfanhawaii]

congrats, NASA! I will be interested in following your story. Hopefully it goes thru faster than Zebra's! I am FERS and eligible in Nov this year...so it will be also interesting to see if your story and Stoplights' are similar...being different programs.

And getting out before the big raid on Fed benefits! Did that play any part in your decision?!

Anyway...enjoy, Enjoy, ENJOY! You deserve it!

 

[nasa1974]

congrats, NASA! I will be interested in following your story. Hopefully it goes thru faster than Zebra's! I am FERS and eligible in Nov this year...so it will be also interesting to see if your story and Stoplights' are similar...being different programs.

And getting out before the big raid on Fed benefits! Did that play any part in your decision?!

Anyway...enjoy, Enjoy, ENJOY! You deserve it!

The playing around with the retirement system didn't factor into my decision. I just couldn't see working for 20% of my pay. Why not take the 80% and enjoy it. I hope that I don't have the same issues as zebra did. I hope my process is simple. The Air Force and NASA are the only the only places I have been employed since I got of high school. I have paid back my military and my temp time for over two years now and my papers from NSSC reflect that. So I have my fingers crossed.

 

[nasa1974]

Update for my retirement.

Friday 3/9 I FAXed all my papers to the NSSC and late yesterday afternoon my HR person called to go over my forms. I filled out everything correctly EXCEPT I forgot to sign in 5 different areas. Really!! She told me that once I signed everything and include a copy of my marriage certificate I can mail the originals to her.

I read through the TSP forms yesterday and they were not as confusing as I thought they would be. But I will read over everything again. You can fill the forms out online but everything has to be mailed to them.

 

[nasa1974]

I get home from work yesterday and I have an envelope from OPM. I'm thinking what the heck is this all about. Nothing important. They wanted to know if I would like to join the Federal Long Term Care Insurance Program. Sheesh!! Junk mail already.

 

[nasa1974]

Stopped in and talked to my wife's financial advisor at Edward Jones. Just wanted to get some advantages/disadvantages of staying in TSP or rolling over to an IRA/401/whatever. I haven't figured out which way I am going to go yet. I still have some research to do but if I had to decide today I would probably roll my TSP over to something on the outside. If our TSP had 3 -4 monthly IFT's and a trading deadline closer to 4pm eastern I would stay in the TSP no question. I will show the difference between the two later.

 

[MrJohnRoss]

Be careful that they don't try to sell you anything. Some of these "FA's" are blood sucking leaches.

 

[nasa1974]

Be careful that they don't try to sell you anything. Some of these "FA's" are blood sucking leaches.

I hear you. This guy is pretty cool. If I go this route I would get a mix of funds similar to my wifes. So much in International funds, Financial and American. I'm pretty sure she is in 5 different funds. We talked about how I could keep some control over my accounts but I would have to go through him to make any changes vs. online with TSP. So much per transaction or set it up and pay a yearly %. But I'm talking to the choir director, right?

 

[MrJohnRoss]

Yeah, what if you just put it in a Schwab/Fidelity/E-Trade etc account. That way you don't have to ask permission for a trade. You could just do it yourself.

That's just my take, tho. If you're comfortable with it, then who am I to say what is best for you. I'm just too bullheaded independent.

 

[nasa1974]

Yeah, what if you just put it in a Schwab/Fidelity/E-Trade etc account. That way you don't have to ask permission for a trade. You could just do it yourself.

That's just my take, tho. If you're comfortable with it, then who am I to say what is best for you. I'm just too bullheaded independent.

Something like that would be an option. But I have a good chance of picking up a nice maintenance position after I retire with a large shopping mall and I wouldn't have the daily opportunity to watch my accounts.

 

[Buster]

Good luck old timer..I went after 36 years at age 55 ..I couldn't see working for a $1.75 anymore..So I pulled the CSRS plug and now working as a private contractor, which has doubled my take home per month with my retirement pay...Livin' the dream baby!

PS: I rolled my TSP balance into a nice IRA and making consistantly 5% to 9% without all the headaches of IFTs.

 

[Kaufmanrider]

I hear you. This guy is pretty cool. If I go this route I would get a mix of funds similar to my wifes. So much in International funds, Financial and American. I'm pretty sure she is in 5 different funds. We talked about how I could keep some control over my accounts but I would have to go through him to make any changes vs. online with TSP. So much per transaction or set it up and pay a yearly %. But I'm talking to the choir director, right?

Sounds like diversification. I am a member of AAII (American Association of Independent Investors). They have recommended mixes (Conservative, moderate, Agressive) and they track and recommend funds based upon performance. When I retire one option I am looking at is rolling my money in an IRA at Schwab, diversifiying with their strategy, and be a buy and holder. I think I could still take out 72T distributions? I'll have to ask when I get closer.

Nasa1974, I am interested in following your thread to see how your rollover/Post TSP works.