9:08 am, April 19, 2015

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  • I bailed out before this crisis hit. OPM was VERY RESPONSIVE then. Glad I pulled the plug. Collcted a LOT since then. ADIOS!
    The Original Joe S
    .
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  • Not your best work
    Skippy
    First of all FERS retirees will likely get about 70% of their basic annuity while being finalized. And they won't receive an annuity supplement if under age 62 until finalized. I planned for 6 months on interim by saving my annual leave as a buffer. However OPM finalized my retirement in ONE month. Before we retired we met with a financial planner several times to see if we could achieve our goals. We should be able to live on my FERS annuity without touching the TSP. We're moving to a tax friendly state and will need a lot less to live on. We'll work too, but should have more money than we need.
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  • retirememnt processing
    DISAPPOINTED
    I retired 12/01/2012 instead of 01/01/2013 in order to avoid what I thought would be a long process of getting my annuity established. OPM did a great job of processing my claim and had my full annuity paid within 60 days. I did not expect such great service from what I had read. From my perspective OPM deserves a big "THANK YOU" as they did a great job. Unfortunately the Republican members of Congress seem focused on destroying the Civil Service System by starving it for resources. No agency is immune from this on slot, including OPM, but the problem is the Congress not OPM.
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  • Retirement definitely possible, if you prepare ahead of time
    Honest Broker
    I was 31 before joining the Govt and looking back, it was a good move. I initially only invested 5 percent into TSP, so I could get the matching funds. After a few years and a couple of promotions, I went up to the full TSP contribution amount. When I hit 50, I even plugged in the extra catch-up funds. I paid my mortgage off early, because I hate payments and it was 6 or 7 percent. With rates now at 3 to 4 percent, it would be better to put the money in the TSP and make the minimum mortgage payment. I was tired of the outsourcing and Govt bashing, so last year I retired with 26 years plus 6 military. My full annuity and supplement took about 3 to 4 months with a 60-day early submission. I had saved the maximum in leave days, so that really helped but I had plenty of reserve funds too. My wife and I are living comfortably just on my annuity and supplement, so we are leaving the TSP alone as long as possible. We have over $150K in savings bonds and over $100K in an IRA from her past job. We live in the South East, so cost of living is low. Retirement is very probably if you plan for it especially if you do not wait until your 30's like I did.
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  • Go Ahead and Retire
    sue 1955
    I retired in August 2010 and have never looked back. At that time, everything was finalized by November (2010). I watched my spending and the lump sum, while heavily taxed, for my annual leave and comp time helped immensely. People need to stop worrying about retirement as one post stated a few weeks ago that he didn't want to retire because he didn't want to be "on the downside of life." Nothing could be further from the truth. I left a fairly high level and respected position. I had been in my agency my entire career of 37 years. However; the commute, office politics, poor management, contractor bs, and my health having gone downhill all contributed to it being an easy decision. Believe me, I was more than ready to leave. While my health is still very much an issue, my overall quality of life is high. So; if you are staying because you think that the office can't live without you, get that out of your head. Other than possibly some devoted employees under you and/or in the program offices who may miss you for awhile, nobody else cares (even though that isn't said).The world is going to go on without you. Enjoy your retirement. It is the only time in your life where you are really free. You aren't free in childhood and you certainly are not in your working years. I am not bitter. I am just so glad that I stuck with my Fed Govt career through good times and bad. Remember that your taxes change in retirement in conjunction with your lower income. You will actually be bringing about the same home as you did while you were working. You'll get by. I'm a single woman with no other income coming in. Watch out for part time work (provided that you can find a job). It is not necessarily going to be in your best interest. I know of people who did that, but found that it put them in another tax bracket.
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