The number of new claims received by the Office of Personnel Management in September was the lowest number in months which allowed the outstanding backlog to be reduced by 10%, however, OPM still missed its own estimate for the month.
You might think that retirement planning is what you do while you are working, and it stops once you retire. The author says that nothing could be further from the truth and that managing your investments is even more important once you are no longer actively contributing. He outlines some of the key points you need to know for managing assets after you leave your federal career.
OPM calls temporary time and other time for which retirement deductions were not taken “deposit service”. Under FERS, deposit service will not count for either your eligibility to retire or in the computation of your annuity unless you make a deposit. The author provides examples of both deposit and re-deposit service to illustrate the impact they have on your pension.
The author lists five insurance options federal employees should consider when leaving federal employment, whether for retirement or for other reasons.
The author says that many federal employees are approaching financial problems as they near retirement due to a lack of planning. However, he says that with some basic planning for the future, they can not only survive in retirement, but thrive as well. He explains how this might work by providing an example of one couple’s retirement plan.