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Old 09-29-2017, 07:33 PM
 
Location: Location: Happy Place
3,686 posts, read 1,864,831 times
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I'm set to cash in about 360 hours. Taking 40 hours off in October just to get away and treat myself and husband.

BTW, how long did your FERS pension take to finalize?? I hear horror stories of 6 months to a year!
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Old 09-30-2017, 06:21 AM
 
Location: Central Massachusetts
4,800 posts, read 4,843,254 times
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Quote:
Originally Posted by mschrief View Post
I'm set to cash in about 360 hours. Taking 40 hours off in October just to get away and treat myself and husband.

BTW, how long did your FERS pension take to finalize?? I hear horror stories of 6 months to a year!


It is not long as long as you plan ahead. At my office it was suggested to put your application for retirement 3 months ahead. This is only true for anyone that is eligible for an immediate retirement.

MRA and 30 years
60 and 25 years
62 and 5 years or more

I had 12 months notice on my retirement because of the military aspect of my employment. However my retirement papers were in and processed in 3 months. At the 5th month I had to write a letter to postpone my retirement an additional 180 days because my office asked me to stay while we were going through a major change in the database that I was the administrator of.

Just to explain I was a national guard soldier that also worked as a federal employee supporting those drilling soldiers during the work week. In my contract I had to be in the guard to remain in my employment. So when the guard gave me a 6 months notice on termination of employment I was then obligated to file my application to retire. It took my office 4 months to get the general to extend me 180 days beyond the original date. I almost told them no since they came awfully close to the deadline for me to postpone my retirement and not affect my pay.

As it was though in March 2016 I walked out the door and received my first paycheck in 30 days, an interim pay amount, and in 60 days all pay was caught up. They will pay you about 80% of what you will receive so plan ahead. It is very good to cash in that much leave. That will make life very easy in transition.
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Old 09-30-2017, 06:28 AM
 
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sounds like you were an ART.


did you keep the FEHB in retirement?
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Old 09-30-2017, 06:45 AM
 
Location: Central Massachusetts
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Quote:
Originally Posted by flashlight View Post
sounds like you were an ART.


did you keep the FEHB in retirement?
I had to until I reached age 60 where I can pick up Tri-Care (military health insurance). I just turned 60 and will suspend FEHB (not cancel) in case we do not like the coverage but the payments are very good.

If you mean army reserve technician, yes. It is a very unique program and it is very good in my book. I know that I am and was lucky to have been a technician. Even luckier to have survived long enough to qualify for an immediate retirement and have two pensions of almost equal value each. It became increasingly more difficult as the years wore on me. I actually could have retired 2 years earlier but I was hoping to work until 60. I had to wait 18 months before I became eligible for military retirement pay starting this month. First paycheck comes in 5 days.
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Old 10-02-2017, 05:34 PM
 
Location: Location: Happy Place
3,686 posts, read 1,864,831 times
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I've already mailed my paperwork to the benefits center but have not received the promised email from them letting me know they have it.

Anxiety...ugh.
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Old 10-02-2017, 05:54 PM
 
1,183 posts, read 760,021 times
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Quote:
Originally Posted by mschrief View Post
I'm set to cash in about 360 hours. Taking 40 hours off in October just to get away and treat myself and husband.

BTW, how long did your FERS pension take to finalize?? I hear horror stories of 6 months to a year!
for most, it's not taking that long. at one point finalization was taking quite awhile.

the most complicated ones seem to take longer, breaks in service, etc.

there used to be a very long thread devoted to OPM delays on federal soup. it's been inactive/very quiet for a long time.
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Old 10-02-2017, 05:56 PM
 
1,183 posts, read 760,021 times
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Quote:
Originally Posted by oldsoldier1976 View Post
I donated 10 weeks of leave over my career to fellow FERS employees when they needed it. I didn't miss it at all. We were not allowed to donate sick leave. It had to be annual leave.
no love for your CSRS colleagues??
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Old 10-03-2017, 04:52 AM
 
Location: Central Massachusetts
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Quote:
Originally Posted by old fed View Post
no love for your CSRS colleagues??

No I have many friends who were CSRS. I even think there are 1 or two left working where I used to work but they have long since retired and are collecting. They had a good system though. I looked at the outlay they put in and what they receive relative to that and compared it to my own. While they and you had a much lower expenditure to their own retirement, I think FERS was the better deal for both the government and employee. It was very close as I think they approximated it quite nicely when they went with the plan.

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Old 10-04-2017, 06:36 AM
 
7,977 posts, read 11,653,739 times
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You know its just been a year this month, I too went out the end of Oct. Already I can't remember exactly how long it took, maybe 3 months? It gets a little confusing because first you start getting an estimated amount fairly soon, then a few months later everything is finalized. I had had the time calculation done a a year or two before because I was ANG and there were some title 10 deployments breaks etc. 4 years active. That probably speeded things up.

Edit - I looked at my bank statment and retired as of Oct 28 and got the first FERS estimated check Dec 1.

Last edited by Giesela; 10-04-2017 at 07:03 AM..
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Old 10-04-2017, 06:43 AM
 
Location: Central Massachusetts
4,800 posts, read 4,843,254 times
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Quote:
Originally Posted by Giesela View Post
You know its just been a year this month, I too went out the end of Oct. Already I can't remember exactly how long it took, maybe 3 months? It gets a little confusing because first you start getting an estimated amount fairly soon, then a few months later everything is finalized. I had had the time calculation done a a year or two before because I was ANG and there were some title 10 deployments breaks etc. 4 years active. That probably speeded things up.
Actually Giesela the National Guard has employees specifically placed there to focus on NG personnel first. The NG found early on that it was cost effective to provide that service to the many technicians it has employed across the nation. It is pretty evident in that how they do their qualitative retention boards every two years giving individuals as much as a 6 month notice of termination. They know the effect that decision has on people and what needs to be done especially in the technician force whom they depend on greatly to provide the support for the drilling soldiers.
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