What am I missing

[DogPyle71]

Fish8me- Speaking for myself and 3 colleagues that all retired within the past year we all got our full annuity within 4 months of retirement (I retired on Jan 30, 2021 and received my full annuity payment on June 1 and partial payments the 3 months prior + backpay). One thing my colleagues and I did was request a retirement estimate from our HR 5 years before retirement. This forced my HR to track down my military buyback information and gather all SF50s from my previous LEO agencies. Thus, when I submitted my retirement application in August 2020 there wasn't much else HR had to do since my eOPF was up to date. (plus it gave me a 6 months cushion to gather any additional records). I will also say that the HR from my last agency was top notch (best I've seen in the gov) and I was confident the retirement package they submitted on my behalf to OPM was 100% correct. I'm really sorry to hear about your problems. From what I heard the retirement packages that OPM receives are often incomplete leading me to speculate the problems lie in agency HR departments.

[fish8me]

DogPyle, thanks for your response and quick reply. I've done some backtracking and was told (as I can't verify info any longer) HR gave me the tracking no. was to when my package was sent to NFC. I've been getting estimates from my prior agency since 2014 since I (or several of us in the office) where preparing for this. Like you, I had everything package per SF 3107 i.e. military time and submitted it 60 days prior to, as our agency instructions. I got my CSA no from OPM back in April 2021 after receiving it from NFC. I'm being told by OPM that my SF 3107 (total fed time form) was apparently not submitted by NFC... But that's like applying for retirement and not providing the application... Obviously, something is wrong with my package hence I'm going on 8 months and I have not received anything in the form of an annuity of partial. Your most likely right that OPM has an incomplete package, but I am completely out of the loop hole. I've been told that once I get my password Ill be able to track my process, but as of yet, I don't have access to it either. I reach out to my past HR branch chief and I was told that such form was included in my package... I can't confirm. Thanks again...

[tsptiger]

I am not a special category employee, so I will not receive COLAs between my MRA and age 62.

Yes, this does not apply to special category employees who do enjoy the benefit of COLAs on their FERS pension when they retire prior to 62.

[evilanne]

COLA adjustments on your annuity start when you retire. Not a well known perk.

An open question: How the FERS COLA compare with the annual pay raises over the past several years? If maxed out in grade, would a pension 5 years into retirement exceed the pension based on staying employed for 5 years?

I'm. not sure you are asking the right question. A pension 5 years into retirement will almost always be less than one working for 5 more. years, especially if you are talking about early retirement vs any age 62 or over. If you retire at 67 vs 62, there really shouldn't be much difference in your retirement annuity but you do make more money over those 5 years
Year CSRS * FERS Pay
2021 1.3% 1.3% 1.0%
2020 1.6% 1.6% 2.6%
2019 2.8% 2.0% 1.4%
2018 2.0% 2.0% 1.4%
2017 0.3% 0.3% 1.0%
2016 0.0% 0.0% 1.0%
*CSRS is the same as. SSA COLAs

For non-special category employees, there is no COLA for early retirement. If your MRA is 57, working 5 more years until 62 would get you 1.1% (rather than 1%) x the number of years worked based on your average high 3.
For Example:
If you had 30 years of service at MRA, you would get 30% x hi 3 salary plus you would be eligible for the supplement - Roughly 30 years of service (doesn't include military time purchased)/40 x SSA estimate at 62. Note: It works the same as taking social security early...it is reduced $1 for every $2 earned over a specific threshold. ($18,960 for 2021 This is only W-2 or Self Employment Income). The supplement ends when you are eligible for SS at 62 and you start getting COLAs at that point on your pension.

Working 5 more years you would have 35 years x 1.1%, so you would get 38.5% x average hi 3 salary. Your annuity would also be slightly higher based on COLAs looking at the total of increases for each.

Money wise, working longer will generally get you more, but how much money is enough and how would you rather be spending your time?