Scout333's Retirement Story

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Scout,

Posted a note in Kauf's retirement thread, so I won't repeat it here :) ...but just be advised that the "interim" check isn't always in the 60-80% range !

Thanks to you and Kauf for sharing/posting to your retirement threads...for us "retired Guys", it's interesting to hear how things have changed since we went through the system...for potential retirees, and even the youngsters, it gives some great ideas of the things they may need to be thinking about !


Stoplight...
 
Hello Fellow TSP'rs especially recent retirees, I found out a little information regarding the application of the 2014 raise % to the lump sum annual leave payment. According to information on the OPM.Gov site, the lump sum annual leave payment is calculated as follows- "Generally, a lump-sum payment will equal the pay the employee would have received had he or she remained employed until expiration of the period covered by the annual leave." As I read this we should get the 1% raise on a significant part of the lump sum annual leave payment. Check with your payroll office. I.E. If you retired on 12-31-13 annual leave to carry you through the end of PP 26 would be paid at the 2013 rate and any thing after that would be paid at the 2014 rate. Not a lot but we are on fixed incomes now. Worth a phone call.

Lump-Sum Payments For Annual Leave
 
Good thing to know for whenever I get there. could be awhile yet. One of my "scenarios" puts me at 12/21/xx for max A/L payout.
 
Scout333 said:
Hello Fellow TSP'rs especially recent retirees, I found out a little information regarding the application of the 2014 raise % to the lump sum annual leave payment. According to information on the OPM.Gov site, the lump sum annual leave payment is calculated as follows- "Generally, a lump-sum payment will equal the pay the employee would have received had he or she remained employed until expiration of the period covered by the annual leave." As I read this we should get the 1% raise on a significant part of the lump sum annual leave payment. Check with your payroll office. I.E. If you retired on 12-31-13 annual leave to carry you through the end of PP 26 would be paid at the 2013 rate and any thing after that would be paid at the 2014 rate. Not a lot but we are on fixed incomes now. Worth a phone call.
Click to expand...
Scout333 said:
Lump-Sum Payments For Annual Leave
Click to expand...

Received a response to my ERC trouble ticket. Separated employees adjustments are due to be made in PP 08 of 2014 (Paid end of May,2014). Oh well don't guess we'll starve.
 
Thanks Scout. I had received the same response from my HR when I asked last month. Told my wife with the extra money I'd take her out for some fast food and we could supersize it. :-)
 
Hello Fellow TSP'rs, Followed up with OPM Friday to see what was holding up the finalization of my retirement. Apparently there was a significant delay with their request to Social Security for verification. They received Friday and hope to have account resolved by May, 2014 (Had to include the year to make sure we were talking about next month Ha!) We'll see?
 
Scout333 said:


Received a response to my ERC trouble ticket. Separated employees adjustments are due to be made in PP 08 of 2014 (Paid end of May,2014). Oh well don't guess we'll starve.
Click to expand...


Received a random government check today. Believe this is the 1% Cost of Living adjustment to the lump sum annual leave. McDonalds here we come!
 
OPM seems to be processing a lot faster now when I retired in 2010, took 10 months to finalize everything so I don't think you will starve. Just think about how good it feels not to get up in the morning and fight the traffic!
 
nnuut said:
OPM seems to be processing a lot faster now when I retired in 2010, took 10 months to finalize everything so I don't think you will starve. Just think about how good it feels not to get up in the morning and fight the traffic!
Click to expand...

Thanks NNuut! All has been finalized now including the 1% Cost of Living Adj. Enjoying life!
 
Scout333 said:
Received a random government check today. Believe this is the 1% Cost of Living adjustment to the lump sum annual leave. McDonalds here we come!
Click to expand...

A few weeks ago after not receiving mine I contacted my agency HR and they told me our payroll center, National Finance Center, was processing the 1% base pay change for lump sum annual
leave via the first three digits of your social security number, i.e., starting with 000. I am still waiting. They told me I'd get a government check. When I get mine I'll cash it fast before it bounces. :D
 
Thanx for this update, otherwise I would never have found this thread. Wow, things moved slow for you getting the money started. I hope things have improved; but the take home for me is to save my money until things are straight, or the current home is sold.

thanx
 
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