Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 02-19-2014, 11:25 AM   #21
Recycles dryer sheets
Cassie's Avatar
 
Join Date: Jul 2012
Posts: 281
Thanks sharing, this is good information and eases anxiety. Even though I only worked 3 days in 2014 I didn't realize that I could still contribute to my 2014 IRA. Also I didn't realize insurance was not taken out yet. I did hear from FedBens, however no bill yet. Even though I haven't received my claim number, I'm pleased with the process so far.
__________________

__________________
Cassie is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 02-19-2014, 01:12 PM   #22
Recycles dryer sheets
Kaufmanrider's Avatar
 
Join Date: Jun 2013
Location: Forney
Posts: 120
Quote:
Originally Posted by Redbugdave View Post
Kaufman...I am doing a set amount each month and having it deposited in my Vanguard MM account. From there, I can shuffle it for living/fun expenses or into my other Vanguard funds. Each year, you can adjust the amount thru TSP if you want more or less. I also watch the market and shuffle between the G, S and C funds. Sometimes it goes up or down in a day or two more than what I will be withdrawing in a year, which can be nerve wracking. When I hit 60, I plan to roll it all over into my Vanguard IRA accounts as Traditional IRA's.

Since I worked into January...I think it's a good idea to contribute to my wife's and my Roth IRA's for 2014. It will be the last year I can do that, unless I work some other place which is highly unlikely. That's something you should think about too...Kaufman and Cassie.

I'm 56 and went 2 weeks after my 56th birthday. For me, 56 was the earliest I could retire with full benefits. I bought my military time years ago. I will be getting 100% of my sick leave applied to my total time. That's better than 50% at my birthday last December.

Those CSRSers got it made...I missed out on CSRS by 1 year. 40 years at 80%. That's a long time. But if you saved and invested just like a FERS person has to, you would be sitting pretty and go with 30 years and 55. And probably better than 80%, with COLA and not worrying so much about what the market will do with your retirement.
I, like you, went in January as I also wanted the 100% sick leave. I had about 2000 hours. I was first eligible June 2013.

I retired at 49, with 25 years and 6 year military bought back years ago when I first stared. I qualified for full benefits under the Special Retirement.

I will look to add to my IRA, but I'll wait until I do my taxes next year and see how much it will benefit me. I believe you have until April 15 of 2015 to apply an IRA contribution to your 2014 tax year.
__________________

__________________
Kaufmanrider is offline   Reply With Quote
Old 02-19-2014, 03:35 PM   #23
Recycles dryer sheets
Cassie's Avatar
 
Join Date: Jul 2012
Posts: 281
Yippee, my claim number came today, and I actually walked down the street to the mailbox! It's like spring time here, in the high 70's. The OPM website was easy to navigate, I've been assigned a specialist and the amount I'm to get March 1st was posted AND $150 more than I anticipated! It's hard to believe I'm netting more now than when I was working. At one point I was considering working 40 years versus the 38 I did, especially since I was at my highest earning years. However, I'm pleased with my decision to start another phase this year.

Gotta run, I'm making roast pork tenderloin, roasted potatoes with oregano & lemon, and lemon ginger string beans. (all from my Weight Watcher weekly) Yesterday I went to Whole Foods to pick up the ingredients.....it was so darn pleasant shopping during the week. I had to force myself from continuously smiling.
__________________
Cassie is offline   Reply With Quote
Old 02-19-2014, 04:49 PM   #24
Thinks s/he gets paid by the post
martyb's Avatar
 
Join Date: Nov 2006
Location: Bossier City
Posts: 2,182
For what it's worth, it takes 41 yrs, 11 months to get to the 80% number in CSRS. I'm CSRS & will have 37 years in May this year. Not gonna make it to 80%, but will go out with a little over 70% of hi-three average.
__________________
martyb is online now   Reply With Quote
Old 02-19-2014, 04:56 PM   #25
Recycles dryer sheets
Cassie's Avatar
 
Join Date: Jul 2012
Posts: 281
Quote:
Originally Posted by martyb View Post
For what it's worth, it takes 41 yrs, 11 months to get to the 80% number in CSRS. I'm CSRS & will have 37 years in May this year. Not gonna make it to 80%, but will go out with a little over 70% of hi-three average.
That's good Marty! Congratulations...37 years!
__________________
Cassie is offline   Reply With Quote
Old 02-19-2014, 04:59 PM   #26
Recycles dryer sheets
Kaufmanrider's Avatar
 
Join Date: Jun 2013
Location: Forney
Posts: 120
Quote:
Originally Posted by martyb View Post
For what it's worth, it takes 41 yrs, 11 months to get to the 80% number in CSRS. I'm CSRS & will have 37 years in May this year. Not gonna make it to 80%, but will go out with a little over 70% of hi-three average.
Congrats, don't spend it all at those Bosier City Casinos.
__________________
Kaufmanrider is offline   Reply With Quote
Old 02-19-2014, 06:08 PM   #27
Full time employment: Posting here.
Redbugdave's Avatar
 
Join Date: Apr 2006
Location: Columbia, SC
Posts: 959
Woo Hoo Cassie! It DID come! And you got a specialist! The ball is rolling, now. I know you are relieved. Whatcha gonna do with that extra money!

You know...we can live more in the present now. Don't have to worry about getting laid off or making the boss mad and getting written up.

70% is pretty darn good Marty. Plus all your other investments and when your Reserves comes due. You will be on easy street. You will be out in the boat pondering what's going on with the downsizing...then you will shrug and forget it because you spot an osprey in a cypress tree...
__________________
"I either want less corruption, or more chance to participate in it." Ashleigh Brilliant
Redbugdave is offline   Reply With Quote
Old 02-19-2014, 06:43 PM   #28
Thinks s/he gets paid by the post
martyb's Avatar
 
Join Date: Nov 2006
Location: Bossier City
Posts: 2,182
Quote:
Originally Posted by Kaufmanrider View Post
Congrats, don't spend it all at those Bosier City Casinos.

If these casinos were depending on me to stay in business....let's just say there'd be some prime riverfront real estate for sale.

I've go other places to blow my money....not flushing very much of it down the casino-bowl.
__________________
martyb is online now   Reply With Quote
Old 02-19-2014, 06:46 PM   #29
Thinks s/he gets paid by the post
martyb's Avatar
 
Join Date: Nov 2006
Location: Bossier City
Posts: 2,182
Quote:
Originally Posted by Redbugdave View Post

70% is pretty darn good Marty. Plus all your other investments and when your Reserves comes due. You will be on easy street. You will be out in the boat pondering what's going on with the downsizing...then you will shrug and forget it because you spot an osprey in a cypress tree...
Dave, that's pretty much the way I picture it, too. Going fishing on Caddo Lake this weekend, just to remind myself what's waiting for me!
__________________
martyb is online now   Reply With Quote
Old 02-20-2014, 07:24 AM   #30
Recycles dryer sheets
Kaufmanrider's Avatar
 
Join Date: Jun 2013
Location: Forney
Posts: 120
Quote:
Originally Posted by Cassie View Post
Yippee, my claim number came today, and I actually walked down the street to the mailbox! It's like spring time here, in the high 70's. The OPM website was easy to navigate, I've been assigned a specialist and the amount I'm to get March 1st was posted AND $150 more than I anticipated! It's hard to believe I'm netting more now than when I was working. At one point I was considering working 40 years versus the 38 I did, especially since I was at my highest earning years. However, I'm pleased with my decision to start another phase this year.

Gotta run, I'm making roast pork tenderloin, roasted potatoes with oregano & lemon, and lemon ginger string beans. (all from my Weight Watcher weekly) Yesterday I went to Whole Foods to pick up the ingredients.....it was so darn pleasant shopping during the week. I had to force myself from continuously smiling.
Good for you Cassie. I have been told CSRS retirements get finalized faster than FERS. The Social Security/FERS Special Supplement is what slows the FERS retirement calculations down. OPM doesn't have a computer program to calculate it, they do it by hand. Welcome to the 21st Century.
__________________
Kaufmanrider is offline   Reply With Quote
Old 02-24-2014, 04:35 PM   #31
Recycles dryer sheets
Cassie's Avatar
 
Join Date: Jul 2012
Posts: 281
image-553230724.jpg

Yippee, I received the personalized "blue" book W2R referenced. Looks like I am finalized in less than two months. THANK YOU OPM.

@kaufmanrider....You're right CSRS does process quicker.
__________________
Cassie is offline   Reply With Quote
Old 02-24-2014, 05:02 PM   #32
Recycles dryer sheets
Kaufmanrider's Avatar
 
Join Date: Jun 2013
Location: Forney
Posts: 120
Quote:
Originally Posted by Cassie View Post
Attachment 18263

Yippee, I received the personalized "blue" book W2R referenced. Looks like I am finalized in less than two months. THANK YOU OPM.

@kaufmanrider....You're right CSRS does process quicker.
Fantastic. I am still waiting on my password
__________________
Kaufmanrider is offline   Reply With Quote
Old 02-24-2014, 05:11 PM   #33
Recycles dryer sheets
Cassie's Avatar
 
Join Date: Jul 2012
Posts: 281
Quote:
Originally Posted by Redbugdave View Post
Woo Hoo Cassie! It DID come! And you got a specialist! The ball is rolling, now. I know you are relieved. Whatcha gonna do with that extra money! .
I'm going to put $100 of the extra money into the "gifts, going out to lunch, pocket money column. $50 will be added to savings or house maintenance fund.

@kaufmanrider, I hope your information come soon.
__________________
Cassie is offline   Reply With Quote
Old 02-24-2014, 05:40 PM   #34
Thinks s/he gets paid by the post
 
Join Date: Jan 2005
Posts: 2,555
Quote:


Any other FEDs...come on in and give advise...

Congratulations RedbugDave on your retirement.

I retired a GS-11 CSRS 06/02/06. I had 32 yrs and 8 months and I was 53. I took an early out. I had had enough! I don't remember what my step was now. I remember receiving a check for my annual leave and I also remember having to pay for my LTCI by check for a short while. I have not touched my TSP yet, nor has my DH touched his 401K yet. We also have our IRAs at Vanguard. It seems like such a long time ago, that my memories are fuzzy on the length of time. I do not remember it being bad though.

I am so thankful for this board. I don't know that I would have even considered retiring at 53, if it had not been for this board and all of the wonderful people here.
__________________
Dreamer is offline   Reply With Quote
Old 02-24-2014, 06:24 PM   #35
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,934
Quote:
Originally Posted by Cassie View Post
Attachment 18263

Yippee, I received the personalized "blue" book W2R referenced. Looks like I am finalized in less than two months. THANK YOU OPM.

@kaufmanrider....You're right CSRS does process quicker.
That's the one! CONGRATULATIONS!!!!

BTW, I retired via FERS, with no supplement, on 11/9/2009 and received my blue book on 2/3/2010. Given the backlog OPM has had for the past few years (which wasn't an issue when I retired), their speed with your processing is absolutely outstanding!
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is offline   Reply With Quote
Old 02-24-2014, 07:14 PM   #36
Recycles dryer sheets
Cassie's Avatar
 
Join Date: Jul 2012
Posts: 281
Quote:
Originally Posted by W2R View Post

That's the one! CONGRATULATIONS!!!!

BTW, I retired via FERS, with no supplement, on 11/9/2009 and received my blue book on 2/3/2010. Given the backlog OPM has had for the past few years (which wasn't an issue when I retired), their speed with your processing is absolutely outstanding!
Thank you W2R....I thought all FERS was a 3 legged stool...FERS supplement, SS, and TSP. Maybe I'm not understanding......you didn't get the supplement? And yes, I am amazed and impressed with OPM.
__________________
Cassie is offline   Reply With Quote
Old 02-24-2014, 08:29 PM   #37
Recycles dryer sheets
 
Join Date: Apr 2012
Location: Birmingham, AL
Posts: 189
The 3 legs are your FERS Annuity, TSP and SS. The FERS Annuity Supplement takes the place of SS until you reach age 62 and goes away. You then have the option of taking SS immediately to keep 3 "legs" or waiting to draw SS if that fits your situation best

It's possible to retire under FERS without a the FERS Supplement if you retire at age 62 or later because you are already eligible for SS.

Congrats. When I retired in 2012 I also thought OPM did a good job working my retirement requests and answering questions.
__________________
Greg V is offline   Reply With Quote
Old 02-25-2014, 02:01 PM   #38
Recycles dryer sheets
Kaufmanrider's Avatar
 
Join Date: Jun 2013
Location: Forney
Posts: 120
Password arrived. Logged onto retirement services. The good news, I was approved on Feb 20 for interim payments beginning March 1. The bad, it says $0.00.

If I don't get anything on the 1st I may have to call them and my Senator, Ted Cruz involced? Maybe I can get him to push them along. Of course, they could just lose my paperwork if he contacts them. :-)
__________________
Kaufmanrider is offline   Reply With Quote
Old 02-25-2014, 07:20 PM   #39
Full time employment: Posting here.
Redbugdave's Avatar
 
Join Date: Apr 2006
Location: Columbia, SC
Posts: 959
Quote:
Originally Posted by Kaufmanrider View Post
Password arrived. Logged onto retirement services. The good news, I was approved on Feb 20 for interim payments beginning March 1. The bad, it says $0.00.

If I don't get anything on the 1st I may have to call them and my Senator, Ted Cruz involced? Maybe I can get him to push them along. Of course, they could just lose my paperwork if he contacts them. :-)

Kaufman...I don't know why they are so slow. I think I would call them and see what they say. I have had an amount posted in mine...it was that way when I first logged on.

I wonder if all the non-govt people retiring from private companies go through this long drawn out interim partial pay process where they get partial pay for months on end? Or is it just Uncle Sam?
__________________
"I either want less corruption, or more chance to participate in it." Ashleigh Brilliant
Redbugdave is offline   Reply With Quote
Old 02-25-2014, 07:24 PM   #40
Full time employment: Posting here.
Redbugdave's Avatar
 
Join Date: Apr 2006
Location: Columbia, SC
Posts: 959
Quote:
Originally Posted by Cassie View Post
I'm going to put $100 of the extra money into the "gifts, going out to lunch, pocket money column. $50 will be added to savings or house maintenance fund.

@kaufmanrider, I hope your information come soon.
Cassie and Dreamer...My way of celebrating was to give myself a present of getting back into beekeeping!
Beekeeping...
__________________

__________________
"I either want less corruption, or more chance to participate in it." Ashleigh Brilliant
Redbugdave is offline   Reply With Quote
Reply

Tags
2014 feds, feds


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Feds/vets: Have you maxed your TSP contribution yet? Nords FIRE and Money 25 03-07-2015 09:11 PM
Fed Official Jeffrey Lacker says Fed Bond Buying Must End Quickly haha FIRE and Money 3 07-28-2013 05:08 AM
FI and planning to retire in 2014 butterfly Hi, I am... 13 06-09-2013 11:55 PM
Organic, Grass-fed, Pasture-fed... tmm99 Other topics 24 06-24-2010 11:06 AM
#*&^#$ing tech support, aided by the feds cute fuzzy bunny Other topics 0 02-22-2006 07:25 PM

 

 
All times are GMT -6. The time now is 05:58 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.