February was another busy month for the retirement services office at the Office of Personnel Management, but despite that, the retirement backlog was reduced just a bit after the usual January rush of new claims that always seem to come pouring in to start off a new calendar year.
There were 9,273 claims received in February and OPM processed 9,627. The backlog went 23,983 at the end of January to 23,629 to close the month, a reduction of 1.5%. On average, it took 54 days to process each claim which improved over January’s 58 days.
As is usually the case, January was a big month for new retirees. There were 17,134 new claims that came in last month. That was also a big uptick over the previous year when there were 13,264.
The backlog is right around where it was this time last year. In the last few years, OPM has been able to carry the momentum of the claims processing into March as well, so it will be interesting to see if the backlog continues to improve at this time next month.
The latest complete data are included below.
|Month||Claims Received||Claims Processed||Inventory (Steady state goal is 13,000)||Monthly Average Processing Time in Days||FYTD Average Processing Time in Days|