Final paycheck

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Q. If I retire on Dec. 31 with 30 years at age 57 with a buyout, when will I receive my final paycheck, lump-sum buyout payment and my first FERS retirement annuity and supplement pay?

A. Only your agency payroll office can tell you when you’ll receive your final paycheck and lump-sum buyout payment. And only the Office of Personnel Management knows when you’ll receive your first annuity interim payment, which won’t include the special retirement supplement. You’ll only get that when you receive your first full annuity payment, which will include any amounts you are owed for both benefits. There is no way to estimate how long that process will take.

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Reg Jones was head of retirement and insurance policy at the Office of Personnel Management. Email your retirement-related questions to fedexperts@federaltimes.com.

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