Retirement age poll

[Wilco183]

Not only that but, the new PEHB also took a toll. If you will be forced to Medicare at retirement, some are just bailing now. The less attractive the incentive to stay to no penalty - the faster people are figuring out postponed retirement and getting a bridge job.

Ad picture right below your last post words "bridge job". Coincidence or invasive crawler bots?

 

[Gotrope]

Sometimes when DB goes off on a tangent - I get adds for mule rides
I'm sure it's all coincidence.

 

[GarbageLLV]

I plan on retiring at the earliest 59 1/2 years old (so I have access to my investments). I'll see how my body and mind feel at that point. And see how my investments are. If I feel like it, I will work until 62. Doubtful I will work past 62. I am 52 currently.

 

[Gotrope]

Not to make anyone still working feel bad. I genuinely feel for you and the struggle.
But, I said a prayer this morning that I am forever grateful I was able to leave standing up. I simply don't have the tolerance for the changes occuring.

 

[Shannonboy]

Sometimes when DB goes off on a tangent - I get adds for mule rides
I'm sure it's all coincidence.

I'm sure its not....

 

[RFD]

Not to make anyone still working feel bad. I genuinely feel for you and the struggle.
But, I said a prayer this morning that I am forever grateful I was able to leave standing up. I simply don't have the tolerance for the changes occuring.

How long was it from the time that you put in your paperwork, until you received your first pension check?

 

[Voglio-il mio]

How long was it from the time that you put in your paperwork, until you received your first pension check?

No matter how early the paperwork is summitted action isn't taken on it until the date you have indicated as being your retirement date. It will be reviewed by Shared Services for completeness but then set aside for finalization at retirement date.

In my last regular pay check I received in addition to my regular pay, pay for all unused Annual leave.

The following month (after your last day working) you will receive a check for an estimated amount that is about 70% of your pension. Keeping in mind that if your last day is at the beginning of the month you will be waiting for one full month after the end on the month you are currently in.

For me it was about 4 months before I received the full amount of my pension.

 

[Gotrope]

How long was it from the time that you put in your paperwork, until you received your first pension check?

I think the estimate initial check was 4 months. The actual finalized everything's done and processed check was close to 10 months, I believe. But, I heard they have cut down on processing window some.

 

[oi veh.]

No matter how early the paperwork is summitted action isn't taken on it until the date you have indicated as being your retirement date. It will be reviewed by Shared Services for completeness but then set aside for finalization at retirement date.

so, we don't have to fill out the paperwork 6 months in advance...?

 

[Voglio-il mio]

so, we don't have to fill out the paperwork 6 months in advance...?

I just double checked my records to make sure my statement was accurate, and it was. My last day was at the end of Sept. Followed by the first partial check on November 1st, with the full pension paid on February 1st.

Now to answer your question! I think it is still wise to complete and submit the paperwork as much in advance as possible. Just to make sure it is accepted as accurate and complete. I had a coworker have theirs refused twice. Once for not being complete and the second for not being neat. Note that mistakes or corrections when writing on the forms invalidates them. I scanned my forms and completed them by typing the answers on my computer. Followed by printing them and getting the required signatures so that there would be no handwritten errors or legibility issues with the forms.

 

[oi veh.]

thank you @Voglio-il mio!