“I am planning on my retirement next year, 2024 on Sept 30th. I am under the FERS Retirement plan. Once I am retired, how long will it be for my first monthly annuity to start? I’ve already did 36 years if Service and I am at age 59 now.”
Reg’s Response
It depends. Your agency will have 30 days from the day you leave to get your retirement application to OPM. Once OPM receives your application and logs it in, it will send you a letter notifying you of that fact. That could take between 15 and 30 days depending on their workload. If a superficial review shows that there are unlikely to be any problems with you application, OPM will put you in interim pay, which is a percentage of the amount they anticipate you getting when they finish processing your application. When that process is finished some weeks later, they will send you your first full annuity payment, which will include any additional money you are owed from the time when you were in interim pay.
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Reg Jones, a charter member of the senior executive service, is the resident expert on retirement and the federal government at Federal Times. From 1979 until 1995, he served as an assistant director of the U.S. Office of Personnel Management handling recruiting and examining, white and blue collar pay, retirement, insurance and other issues. Opinions expressed are his own.
Reg Jones, a charter member of the senior executive service, is our resident expert on retirement and the federal government. From 1979 to '95, he served as an assistant director of the Office of Personnel Management handling recruiting and examining, white and blue collar pay, retirement, insurance and other issues. Opinions expressed are his own.
