Retiring 12/31/22

[Cattman]

I have submitted my retirement paperwork for 12/31/22 from USDA/FSA with 40 years and 7 months plus SL credit. My concern is that I am seeing many employees from my agency that retired 12/31/21 that still do not have final pension from OPM and waited 4-6 months before their partial started. Is this an issue for other agencies? I have also heard that with a divorce involved in the mix that the wait time is even longer. I don't want to tap my TSP, but may need to to tide me over.

 

[NatInPW]

Hey Fellow USDA-er (FSIS then OCIO for me). I've been thinking the end of this year as well, but will probably push to the end of next year. You must be under CSRS?

Congrats on the pending retirement. I've heard similar horror stories about other USDA retirees. I think a lot depends on who happens to process your paperwork in HR....

Good luck...

 

[tsptalk]

Congrats on the impending retirement, Cattman! Good luck dealing with all of that bureaucracy. Knowing that I'll have to deal with that is one reason I will keep putting it off. It's easier to work.

 

[nasa1974]

Congratulations on your upcoming retirement. Hopefully someone can answer your question. Depending on how good your HR is they should be able to help.

 

[Cattman]

16 yr 10 mo CSRS, then Switched to FERS. Our State office HR makes sure I's are dotted and T's crossed then packet goes to OPM. They are where the backlog is..

 

[evilanne]

I have submitted my retirement paperwork for 12/31/22 from USDA/FSA with 40 years and 7 months plus SL credit. My concern is that I am seeing many employees from my agency that retired 12/31/21 that still do not have final pension from OPM and waited 4-6 months before their partial started. Is this an issue for other agencies? I have also heard that with a divorce involved in the mix that the wait time is even longer. I don't want to tap my TSP, but may need to to tide me over.

I think it depends on your agency. I didn't have any issues back in 2016 with DoD/Army. Got partial OPM payment 2nd month after retiring for 3 months and then got full retirement by 4th month. I'm not sure how much different it is now after COVID but I know someone that retired a year ago that had a similar outcome. It may be the number of people retiring at the end of the year that is causing some. delays.

Congrats on your upcoming retirement. Hope everything goes smooothly.

 

[sean101]

My concern would be a potential GOV shutdown kicking off at the end of the year. current date is 12/16, but they will most likely extend that out to sometime in Jan. 23. IF it shuts down, the OPM paper pushers will not be moving your file along, and you should be prepared for a delay in your file being fully adjudicated.

Congratulations.

 

[rangerray]

I have submitted my retirement paperwork for 12/31/22 from USDA/FSA with 40 years and 7 months plus SL credit. My concern is that I am seeing many employees from my agency that retired 12/31/21 that still do not have final pension from OPM and waited 4-6 months before their partial started. Is this an issue for other agencies? I have also heard that with a divorce involved in the mix that the wait time is even longer. I don't want to tap my TSP, but may need to to tide me over.

I had a divorce during my service and it didn’t complicate things. I included a copy of our marriage dissolution agreement, I highlighted the pertinent parts that said that my ex got none of my retirement benefits (nor I hers). No complications.



Scott Harrison
Senatobia, MS

 

[Bullitt]

Forget any advice before 2020, it's a much different world now.

Friend of mine is going end of year like you and was told the exact same thing. 4-6 months for the partial (~70% actual) to start so you'd better have some kind of cushion (annual leave check, taxable account, savings account, Roth IRA, spousal income) if you don't want to touch your TSP. My advice, don't be afraid to spend the TSP if you have no other avenue. You saved it, it's yours to spend. When the FERS checks start coming in with the adjusted proper amounts, you'll also get back pay for the amount they didn't pay you and it will all work out.

 

[evilanne]

Just remember if you are going to rely on TSP withdrawal after you retire, it takes about a month for them to get things transferred over from active to retirement status. Not sure how it is after 2020 but if OPM is taking that long, it could delay your access to your TSP and you may want to look at requesting in-service withdrawal before you go if you are over 59.5.