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Retirement Issues for Postal Employees

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^     All messages            2625-2644 of 2644  2605-2624 >>
2644
Hondo1
04-02-2018
12:03 PM ET (US)
Wonder how many took the early-out? Think we should know within a few weeks.
2643
Cali to ColoPerson was signed in when posted
03-20-2018
02:35 AM ET (US)
Congratulations! With a career over 40 years long, retirement would be an adjustment.
2642
Postal 40 plus
03-17-2018
12:13 PM ET (US)
Well that helps. thanks. Still can't believe I'm retired.
2641
Randy1Person was signed in when posted
03-17-2018
11:07 AM ET (US)
/m2640


Effective date of retirement and issuance of first annuity check

CSRS employees (including CSRS Offset employees) who are eligible to retire and who retire on the first, second, or third day of the month will have their retirement become effective on the next day of that month, and their first retirement check will be dated the first day of the next month. For example, if a CSRS/CSRS Offset employee retired on Jan. 2, 2016, then the employee's retirement became effective on Jan. 3, 2016. The first CSRS annuity check will be dated Feb. 1, 2016. If a CSRS/CSRS Offset employee retires on the 4th through the last day of the month, then the employee's retirement becomes effective the first day of the next month with the first annuity check dated the first day of the month thereafter. For example, if a CSRS/CSRS Offset employee retires on Jan. 9, 2016 (the end of the 2015 leave year) then the employee's retirement becomes effective on Feb. 1, 2016, and the retired employee's first CSRS annuity check will be dated March 1, 2016.


So in short, CSRS employees are best to retire in the first 3 days of the month. Not so for FERS employees.
Congratulations on your retirement. Enjoy
Edited 03-17-2018 11:16 AM
2640
Postal 40 plus
03-17-2018
09:35 AM ET (US)
CSRS....
2639
Randy1Person was signed in when posted
03-16-2018
09:27 AM ET (US)
FERS or CSRS?
2638
Postal 40 plus
03-15-2018
07:35 PM ET (US)
I retired from the post office after 41 years on March 2, 2018. Nothing was every said about when to expect my first retirement check. Anyone know when I might expect this?
2637
82% RetiredPerson was signed in when posted
03-08-2018
08:45 PM ET (US)
I agree Cali. Most of them, especially the ones that offer a free lunch, want you to let them manage your money. They are useless for CSRS retirees. They are not aware they pay no SS and most will not receive a dime. They do not know how inexpensive TSP is for managing your money. I guess the trade off is limited ways to invest it. I am chilling out in the G fund for a while.

There are some very good seminars geared especially for FERS or CSRS. Well worth the money, but the sooner one goes the better their chances of learning something in time to benefit from it.
2636
Cali to ColoPerson was signed in when posted
03-08-2018
06:27 PM ET (US)
82%, I should have been more specific other than stating "my husband's financial advisor." No, it was not for fed. employees, just the folks the advisor could arm twist to attend. I am not discouraging anyone from going to those seminars specifically for fed. employees, I just wanted to complain about the general retirement meeting I went to and I didn't mean to mislead anyone away from the fed seminars.
2635
82% RetiredPerson was signed in when posted
03-07-2018
09:23 AM ET (US)
Cali was the seminar just for federal employees? I am referring to the ones that address CSRS/FERS. I do not think a week goes by that I don't get a flyer for a free seminar offering a free lunch. I know people who go to those just for the free lunch. they are just sales pitches for you to let them manage y6our money. I am tempted to go to one just to see what they are all about.
2634
RIKSNYPerson was signed in when posted
03-07-2018
06:56 AM ET (US)
I believe most of the people who call themselves "financial advisors" are just salesmen.

I can vouch for Key Retirement Solutions, Joni Montroy. I believe there are other former postal/federal employees who do the same thing.
2633
Cali to ColoPerson was signed in when posted
03-07-2018
12:01 AM ET (US)
One time I went to a retirement seminar with my husband. His financial advisor and some other person hosted it. I was bored and then ultimately FURIOUS because I think it was partially a ruse to just eventually bombard us with mailings at home.
2632
82% RetiredPerson was signed in when posted
03-03-2018
11:02 PM ET (US)
Y'all, several companies/agencies put on 2-3 day seminars concerning retirement and benefits. I will not recommend any but I attended two and learned things I did not know. However, it is best to take them no later than 5 years out. That is so you still have time to take advantage of things you may not have known about. Although it would not hurt if you attended one a few years or months out. Just google fers/csrs retirement seminars and find one near you.
2631
just me
03-03-2018
07:00 PM ET (US)
ok I just thought of another question. If I froze retirement for 18 months I wouldn't incur the 5% penalty, however, would I still get credit for 8 months of sick leave?
2630
just me
03-02-2018
11:38 PM ET (US)
Thanks All. What a coincidence, I just got retirement info from the P.O. in the mail today. Still too early for me. 18 more months till I'm 60. Time to start using up 8 months of sick leave.
2629
Hannah BlectorPerson was signed in when posted
03-02-2018
12:39 PM ET (US)
Re 2087 hours

page 3 paragraph 3 because I could not cut and paste from this reference:

https://www.opm.gov/policy-data-oversight/...t-sheets/116278.pdf

I am sure there is an easier summation, but this is the first thing I got when I googled.
2628
Hannah BlectorPerson was signed in when posted
03-02-2018
12:35 PM ET (US)
/m2627 I don't want to make my brain hurt today, but 7 X 52 is 364 and there are 365 days in a year. So I assume USPS used 52 weeks and the other uses 365 days. I know the difference in 2087 and 2080 is not 8 hours, but I think it is close enough to explain it or, rather, know that their is a logical explanation that might be related to using days in a year instead of whole weeks in a year.
2627
Denniss
03-01-2018
11:09 PM ET (US)
Hannah /m2626 ... It seems that your belief is correct. The postal chart uses a year of 2080 hours rather than 2087.

Page 8: https://www.apwu.org/sites/apwu/files/reso...%282.26%20MB%29.pdf

Don't know why it is different than other federal employees.
2626
Hannah BlectorPerson was signed in when posted
03-01-2018
10:58 PM ET (US)
I am not an expert, but I believe the postal chart is a little different than the one for other agencies which use a slightly longer year. But the chart will get you close. If you use your sick leave, it won't matter. It is great to have a lot of saved sick leave. It is even better to retire without it.
2625
Randy1Person was signed in when posted
03-01-2018
07:35 PM ET (US)
/m2622... Use your sick leave if possible before retirement.

https://www2.usgs.gov/humancapital/pb/docu...CONVERSIONCHART.pdf
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