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Old 07-27-2014, 05:36 AM
 
7,983 posts, read 11,673,230 times
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Quote:
Originally Posted by golfingduo View Post
Yes


If you have already retired then you fall under OPM. Your HR will not be able to help. They might be able to answer some questions but will point you toward the OPM.
No, I haven't retired yet. So when I retire from the Air Force I'll fall under OPM? Hm. Ok.

Don't know how to multiple quote but the above comment reminded me of something.

About 6 years ago I did attend a retirement seminar on base and it was a contracted person of some kind. Luckily he seemed pretty knowledgeable, class size was large and it gets split btw FERS questions and CSRS which can become confusin. Now that I'm within a year or two I asked about retirement seminars and was told that 'they' were hoping to have one in August. So I need to have my questions ready.

Thank you all! Apologies for somewhat hijacking the OP.
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Old 07-27-2014, 08:00 AM
 
Location: Amelia Island
2,977 posts, read 3,964,711 times
Reputation: 3088
Guys and Gals................reading these post really hits home of how many of us are not really educated in the fundamentals of FERS.

Having just sat in on one of the retirement seminars for FERS I found that so many of those attending really were not prepared and they were less than three years out.

Every command has an employee that is a wicked guru on retirements...ask around. They love to share

There are webinares (spelling?) that will help you learn about the FERS annuity, TSP, supplemental and your health plans.

Be very afraid of your lack of knowledge......because the amount of real live people that you can talk to is disappearing.

Not everyone knows there is a backlog, so full retirement are running at 70 to 80 percent for three months.............down from 6 months.

On Thursday we received notification from our comptroller that as of July 1, 2014 (I will have to go back and check the date) you will no longer be able to send away for retirement estimates unless you have officially put your paperwork in to retire because of the backlog of retirement paperwork. Now if you have to buy back your military time or seek addition of previous civil service time....not sure when you can request this info now!

Welcome to the new world of downsizing and computers.........I have been re-aligned and received a step increase in the past two months and have yet received a SF-50...............although everything is now available on TWMS to print out.

They say FERS computations are much more difficult for them to figure out so I expect the backlog to continue.

http://www.govexec.com/pay-benefits/...irement/66995/

Last edited by JBtwinz; 07-27-2014 at 08:26 AM..
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Old 07-27-2014, 10:33 AM
 
Location: Portland, Oregon
10,014 posts, read 16,688,406 times
Reputation: 6424
If you have Medicare Part B GEHA waves co-pays. I found it a 'best buy' for me, a former civilian employee.
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Old 07-27-2014, 10:37 AM
 
Location: San Antonio
7,629 posts, read 14,388,006 times
Reputation: 18712
Quote:
Originally Posted by Giesela View Post
No, I haven't retired yet. So when I retire from the Air Force I'll fall under OPM? Hm. Ok.

Don't know how to multiple quote but the above comment reminded me of something.

About 6 years ago I did attend a retirement seminar on base and it was a contracted person of some kind. Luckily he seemed pretty knowledgeable, class size was large and it gets split btw FERS questions and CSRS which can become confusin. Now that I'm within a year or two I asked about retirement seminars and was told that 'they' were hoping to have one in August. So I need to have my questions ready.

Thank you all! Apologies for somewhat hijacking the OP.
Your comment on having attended the base retirement seminar sounds like you have resources that are helping me out TREMENDOUSLY in planning my upcoming retirement. For us here in San Antonio, that source is:

sanantoniofeb.org/links/retirement-seminars/

I understand you probably live other than San Antonio, but if you contact the above folks, I feel they might be able to put you in contact with the folks doing the same type of assistance in your area.

They are a WONDERFUL resource between the general planning and the one on one support they offer in helping you get everything in order, learning what is and is not available, and how to maximize everything from your retirement, your TSP, social security benefits, your Group LIfe Insurance and Survivor Benefits.

Hope this helps!
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Old 07-27-2014, 11:51 AM
 
7,949 posts, read 5,053,236 times
Reputation: 13619
As others have said, attending a retirement seminar is crucially important. Attend several seminars, taught by different speakers.

The FERS retirement wave hasn't really reached the shore. Our office is still replete with folks who were hired in the 1970s (and in some cases earlier!). The earliest FERS employees are just now starting to hit 30 years, though we do have several who voluntarily converted from CSRS to FERS in 1983-1984. FERS retirement should start accelerating in 3-5 years. That's presumably when we should start seeing more accurate information geared towards FERS retirees.

Quote:
Originally Posted by ABQ2015 View Post
VERA requires a minimum of 20 years of service and age 50. I'm not sure about a RIF. Although if you have 20 years and are at least age 50, I think they are required to offer you VERA if you are RIFFED. (I'm not 100% positive on the VERA but think this is correct).
It's 20 years of service and age 50, or 25 years of service regardless of age.
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Old 10-14-2014, 02:18 PM
 
Location: North America
5,936 posts, read 4,673,481 times
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Quote:
Originally Posted by ohio_peasant View Post
As others have said, attending a retirement seminar is crucially important. Attend several seminars, taught by different speakers.

The FERS retirement wave hasn't really reached the shore. Our office is still replete with folks who were hired in the 1970s (and in some cases earlier!). The earliest FERS employees are just now starting to hit 30 years, though we do have several who voluntarily converted from CSRS to FERS in 1983-1984. FERS retirement should start accelerating in 3-5 years. That's presumably when we should start seeing more accurate information geared towards FERS retirees.



It's 20 years of service and age 50, or 25 years of service regardless of age.
So if your start date is October 14, 1994 you are eligible on 10/15/2014 or AFTER 20 FULL YEARS which would be 10/15/2015?
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Old 10-15-2014, 08:28 AM
 
Location: USA
585 posts, read 909,993 times
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Quote:
Originally Posted by clb10 View Post
So if your start date is October 14, 1994 you are eligible on 10/15/2014 or AFTER 20 FULL YEARS which would be 10/15/2015?
At age 60 (20 full years - FERS).

Eligibility


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Old 10-15-2014, 10:25 AM
 
5,399 posts, read 6,544,082 times
Reputation: 10477
FERS retiree w/FEHB not 65 yet

Just got a letter from myFEHB provider and they say that their insurance pharma coverage is certified as Medicare Part D equivalent so it is not necessary to apply for Medicare Part D. But if you drop FEHB provider coverage and don't pick up Part D, then you will suffer a medicare coverage penalty. etc etc

Imagine other FERS FEHB retirees are getting similar letters. At 63, I am relooking my FEHB carrier and may switch to one that looks better.

circumstances change and I would like to be settled before I turn 65.
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Old 10-15-2014, 11:19 AM
 
Location: Central Massachusetts
4,800 posts, read 4,853,880 times
Reputation: 6379
Quote:
Originally Posted by theoldnorthstate View Post
FERS retiree w/FEHB not 65 yet

Just got a letter from myFEHB provider and they say that their insurance pharma coverage is certified as Medicare Part D equivalent so it is not necessary to apply for Medicare Part D. But if you drop FEHB provider coverage and don't pick up Part D, then you will suffer a medicare coverage penalty. etc etc

Imagine other FERS FEHB retirees are getting similar letters. At 63, I am relooking my FEHB carrier and may switch to one that looks better.

circumstances change and I would like to be settled before I turn 65.
Good to know. FERS here not yet retired but coming soon. Keep us informed if you can on anything you come up against.
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Old 10-17-2014, 06:25 PM
 
Location: North America
5,936 posts, read 4,673,481 times
Reputation: 1924
Quote:
Originally Posted by cholo57 View Post
At age 60 (20 full years - FERS).

Eligibility


OK, 10/15/2015 then. Got it.

Thanks.
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