Re-introduction

[Marco]

Howdy all,

Marco from Texas here. First registered a few years ago, but have not been active here. I'm just days (6) away from my 2nd retirement, first one was from the military in 2002, and this one as a FERS fed. We've been planning for 2 years now, living on the retirement budget for one year, and feel ready in most respects. With 8 days to go I got an email from the HR folks telling me that instead of taking the normal 76 days to get my pension, it was going to be 6 to 12 months due to COVID, etc, and so forth. They said I better have a backup plan.....with 8 days to go......Merry EFFING Christmas! No worries though, I had planned for a big BOHICA and have been stashing cash away this last year, and am selling back 383 hours of unused vacation. We'll ride it out on spam and beans no problem.

Wishing you all a most prosperous New Year!

Regards,

~Marco~

[Vacation4us]

6 to 12 months? WTF? Let’s hope they are wrong. DH is CALPERS and got his first check before he walked out the door. Check number 2 was 2 weeks late we shall see what happens with number 3.

Best wishes on your retirement!

[pacergal]

That's crazy! Why would they notify you so late??
Our pension company does say up front that it could take up to three months to get your first check, but it came the first month on time.
We had our cash stash just in case.
Glad you do, also.

[MikeWillRetire]

The pension delay will probably get even worse. I imagine that many soon-to-be-retired workers have postponed their retirement until they are ordered back to the office. Once they remember how bad the commutes were, they will retire pronto. Now that will cause a backlog in retirement processing.

[cnocmmz]

Quote:

Originally Posted by Marco Howdy all, Marco from Texas here. First registered a few years ago, but have not been active here. I'm just days (6) away from my 2nd retirement, first one was from the military in 2002, and this one as a FERS fed. We've been planning for 2 years now, living on the retirement budget for one year, and feel ready in most respects. With 8 days to go I got an email from the HR folks telling me that instead of taking the normal 76 days to get my pension, it was going to be 6 to 12 months due to COVID, etc, and so forth. They said I better have a backup plan.....with 8 days to go......Merry EFFING Christmas! No worries though, I had planned for a big BOHICA and have been stashing cash away this last year, and am selling back 383 hours of unused vacation. We'll ride it out on spam and beans no problem. Wishing you all a most prosperous New Year! Regards, ~Marco~

Yeah that is UNSAT for them to have those excuses. Well, I had better put in my paperwork 6 months early [emoji13]

[Bigdawg]

Quote:

Originally Posted by MikeWillRetire I imagine that many soon-to-be-retired workers have postponed their retirement until they are ordered back to the office. Once they remember how bad the commutes were, they will retire pronto. Now that will cause a backlog in retirement processing.

Two of my coworkers (and me too) have decided we will NEVER go sit in the cubicle again. One is 70 and the other is 61. We have proven over the last 8 months that we do not have to sit in the cubicle farm. DD just accepted a job inside the beltway (80 mile commute). Nice raise and work from home for now. She does not want to move. I told her to use the "I worked from home for X months already why can't I keep doing it" excuse when they try to make her come into the office (they say June/July timeframe).

Sorry about going a bit off track. Good luck with the pension checks.

[Marco]

Well it's another countless example of government bureaucratic incompetence. After 41 years of exposure I'm used to it. I'm going to look forward to the back-pay.

~Marco~

[Dtail]

Quote:

Originally Posted by Marco Well it's another countless example of government bureaucratic incompetence. After 41 years of exposure I'm used to it. I'm going to look forward to the back-pay. ~Marco~

They should pay you extra interest.

[militaryman]

Yea I plan to be living off the 80 percent interim payments or less for the first year....I wonder if the fers SS supplemental starts immediately or is delayed?

"If OPM is satisfied that you meet the age and service requirements to retire, it will authorize interim annuity payments. While it will be less than the full amount—commonly around 80 percent of what the benefit would be at first look, although it often turns out to be lower—it will provide you with some income to tide you over until your claim is finalized.

OPM tries to authorize interim payments within 10 days after it receives your retirement package. If everything works smoothly, you’ll usually receive your first interim payment within three to four weeks after you retire."

[Scubaman]

Good luck in your retirement. Ex British Army... retired at 44 living inBC Canada. Just joined this group today.

[donheff]

Did they really mean no pension for months or an OPM low end estimated payment until they got the final done? Things may have changed from my day but OPM was often backlogged computing the official pension but good at getting the interim payment going.

Edit: I see Militaryman is more current. That's what I would anticipate.

[Bigdawg]

Quote:

Originally Posted by Scubaman Good luck in your retirement. Ex British Army... retired at 44 living inBC Canada. Just joined this group today.

Welcome. If you want to go ahead and write up an introduction post. I have some ex British Army buddies. Met them in Tortola just before COVID.