According to an OPM source, there will be no FEGLI open season in the near future.
Reports have been in the news about OPM’s poor performance regarding processing annuity payments for new retirees. What is the real cause of this problem?
Many FedSmith readers have commented on the excessive time it takes OPM to process the paperwork for full annuity payments. It is likely to get worse instead of better. Here’s why.
The OPM Office of the Inspector General has issued a report showing that payments from the federal government’s Civil Service Retirement and Disability Fund to deceased annuitants has averaged $120 million over the last five years.
The author walks the reader through some examples to illustrate that the CSRS retirement system may not be better than the FERS retirement system, despite popular belief to the contrary.
This is a follow-up article to the author’s article on the OPM retirement processing backlog.
OPM director John Berry says agencies are asking the agency for guidance on how to deal with the issue of transgendered employees in the workplace. The result is a new set of guidelines, including restructuring the Official Personnel Folder.
OPM should pay new retirees 100% of the retirement estimate provided by the employing agency. In those few cases where this turns out to be too much, OPM can easily make deductions from future payments. And when the estimate is too low, they can pay more, to catch up. Either way, equity will be served.
Over the years, OPM (Office of Personnel Management) processing time for calculating annuities for new retirees has gotten progressively worse. Is it the increasing workload that is causing the problem? Here are the statistics.
A number of readers have asked about the backlog in processing retirement applications. OPM is making progress. The time it takes to process a retirement action has improved by about 15%. The agency’s goal is to get the processing time down to 45 days.