A Boost for New Retirees

By Emily Long

New retirees have long lamented the gap between the time they leave government service and the day their first annuity check arrives in the mail. But those kept waiting could be getting a financial boost. Federal Times reports Office of Personnel Management Director John Berry will push his agency to maximize payouts to more than 38,000 retirees receiving interim checks as OPM tries to calculate what they are owed.

Berry said last month OPM is trying to reduce claims processing times, which currently average 138 days. He pledged to increase the staff dedicated to retirement services and reexamine its processes to reduce the backlog. Missing information, complicated employment histories and a paper-based system contribute to the problem, he said.

Former feds affected by the backlog already receive interim checks, but the payments often are much less than what they are owed. Berry wants OPM not to be "stingy," even if it means overpaying some retirees.

There is a downside, however. If you get more than you should, you'll eventually have to pay it back.