Browsing: interim annuity payments

FEHB re-enrollment

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Q. I was a federal employee for 26 years and, from 1987 onward, was under FERS. I left my last federal job in June 2009 at age 58, after having passed the minimum retirement age and having been enrolled in the Federal Employees Health Benefits plan over the entire 26 years of my federal employment. In June 2009, I said that I intended to take a postponed retirement, some time after I reached age 60. It is my understanding that my enrollment in FEHBP was suspended at the time I left my last federal employment, in June 2009. I had…

Special retirement supplement

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Q. Do you receive your special retirement supplement in your first check after retirement? I am retiring with my minimum retirement age and 31 years of service? A. No, you won’t receive the special retirement supplement until your annuity is finalized. Then you’ll receive a retroactive payment for the SRS you should have received and any additional annuity that you are owed for the time you were receiving interim pay.

Interest on annuity underpayments

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Q. When a federal employee retires, his “interim payment” in lieu of the final determination, is 20-30 percent  less than it appears the final amount will be.  Also, the interim payment includes zero for the annuity supplement.  The supplement, when they finally start paying it, is hundreds of dollars. The above two reductions are deliberate, they go on for months, and they are a significant inconvenience, sometimes hardship, to the retiree. Currently, when the Office of Personnel Management  makes the final determination and “catches up” the underpayments, they do NOT include interest. Should OPM pay interest?  Isn’t there a federal law…