Return to Article: Buyer Beware
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52565
I checked my FERS supplement using EBIS, and there is a $200 difference than I got using the formula provided in another article or retirement. I'm thinking EBIS was in error, but no one at AFPC has answered my questions on this yet. I could have retired and found out I would be getting less than quoted, and no one would be held responsible. Why can't they just give us the straight facts?
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44700
I was dismayed to read about the CSRS offset for "Georgia" when she converted to FERS from CSRS. I too, converted to FERS, and had a little more than 8 years under CSRS (1979 to 1988), which I was informed would be "frozen." Now, I plan to retire next year at age 57 with 30 years of service. It sounds like I should expect a decrement on my pension because of switching. Bad and disappointing news. But if not for the article, it might have been shocking news, also, when I retire. So I appreciate reading about this in this article.
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42770
I was injured at work in 1999 and been treated under Federal Workers Comp. since then. Every avenue has been tried to relieve the symptoms of my injury but surgery. What steps would need to be taken to apply for a Medical Disability Retirement? My Doctor is questioning this option.
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42562
I was affected by FERCCA and the estimate given to me by the Postal Service contractor (ECONSYS), for TSP makeup dropped by 50% when it went to OPM. Bait and switch to get me out of CSRS offset.
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42510
"No Name" said, "I understand that OPM determines the actual amount of retirement pay. Why not simply let OPM do the work and then allow the employee to retire after receiving that accurate sum?"
Obviously you have no idea how many eggregious errors OPM regularly makes in computing annuities. I am even aware of a situation where OPM gave one retiree 4 different "final" statements of her annuity amount in the space of 7 months. OPM isn't held responsible for its innaccuracies, either.
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42490
Certification is the best idea; and, this new "RSM" system sounds great, also, especially if it's easy for the average person to use. Army employees can get their own reitrement estimates using the Employee Benefits Information System (EBIS). There, you plug in your yearly gross salaries and various other info, for which you're prompted, and you're given a farely accurate figure at the end. For specific questions about retirement issues, federaltimes.com is a better forum. You'll probably find that your question has already been asked and answered there.
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42452
I got lucky. I returned to government in 1992 and was incorrectly placed in FERS. I switched agencies 3 times before an IRS specialist caught the mistake in 2001 and sent my file to OPM for review. In 2005, I was allowed to choose between FERS and CSRS. OPM provided a retirement counselor to review my options with me. Based on the estimates I received, I elected CSRS Offset over FERS. If you're not sure you were placed in the right retirement system you need to have your personnel office send your OPF to OPM for review.
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42371
Air Force civilians can access different areas of their records on the AFPC website. How accurate is the annuity estimate on this site?
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42366
I love your Friday column on Retirement Matters. Can you do one at some time for employees who worked for the government under CSRS, had a break and returned right after FERS was enacted and placed into FERS on how we can get this situation reviewed by OPM? I am told most agencies do not know how to adequately determine if you are in the correct retirment system and it is best to go to OPM for a review of your situation. I don't know who to go to in OPM.
I think there are a lot of us who are in FERS because of the situation described above should be in either CSRS or the CSRS offset but our agencies did not know it at the time, and now they don't want to do it.
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42365
Your recent article about "Georgia" and the miscalculation of retirement benefits has me worried. I started government service in 1974 under CSRS, but switched to FERS in 1998 because my spouse, who is 9 years my elder, worked under social security and had I not switched I would have lost out on his death benefit; a sizable amount per month. Between 1981 and 1998 I was part-time (half-time, actually), job sharing with another employee. I plan on retiring in December, 2009, but now am concerned that a work history as complex as mine will need the skills of an experienced retirement specialist, who may not be made available to me in my agency. It sounds like it is the luck of the draw. My question is this: If I get a medical diagnosis that I am unsure of I can get a second opinion from another medical professional. Can I get a second opinion about my retirement benefits, and from whom? Thank you.
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42343
The example at the beginning of the article points out the whole fallacy of not providing an accurate estimate. When you buy a car, you don't get an estimate, you know exactly what you are going to pay a month. So when federal employees retire, which is much more important to them than a car payment, why can't the government (with everything computerized now) give them a 100% accurate amount of what they will receive?
As long as agencies are not held accountable for wrong estimates, why does anyone expect anything to improve? Make the agencies fund the difference between the estimate given and the real retirement amount and I can assure you that estimates will dramatically improve.
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42296
I recently retired as a FERS employee. Having known our former retirement and benefits counselor who was extremely knowledgeable, there was a great contrast to the person I encountered when I retired. The employees at Social Security, on the other hand, were very knowledgeable as were the employees at OPM, even though I had some snafus at the OPM level which were promptly fixed.
Where is the accountability in many of our agencies? It is not enough for a retirement counselor to just be able to fill out the paperwork and submit it, these people need to understand the entire retirement process, no matter how complicated it is. And this is a job where qualified people who are willing to learn a complex system need to be hired, not just the next person in line in human resources. There is too much at stake for too many people.
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42288
As an agency HR manager, we really want to help our staff when they are making their retirement decisions. Most estimates are pretty straight forward, your two examples are very complicated. We would not do estimates for these situations, that's probably the safest approach. Unfortunately, official retirement estimates take months to recieve and some employees can't wait. Hopefully, the new RSM will help, but I think I'd still only trust it with easy situations.
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42250
As a Benefits practitioner for the last 28 years, I can say that unfortunately this situation will only get worse.
The computation of annuities has become much more complicated at the same time the government is unable to retain experienced Benefits personnel. In addition, many agencies rely on young, inexperienced personnel to provide retirement counseling. In most cases, this is not a problem -- until it is.
Agencies need to place much more emphasis on providing their employees with competent, effective benefits counseling. To do this they need to recognize that benefits counseling is not something you do with 1 or 2 years of experience.
I have long advocated certification for benefits practitioners, however, agencies and OPM are against this because this would require OPM to take the lead to standardize benefit practitioner competencies and provide avenues for certification. However, without certification, employees can never be sure that the person advising them is in fact competent to do so.
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42244
I understand that OPM determines the actual amount of retirement pay. Why not simply let OPM do the work and then allow the employee to retire after receiving that accurate sum?
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42237
I have requested our Personnel Office to provide me an estimate. I have 20 years of service (not continuing), and am over 50 years old..Some of my earlier years (possibly 8 of the 20 years) were under CRCS. If I withdrew some of my retirement under CRCS when I left government service after my first 5 years of government service, how does this effect my possible FERS supplement, assuming I take early out prior to age 62? Thanks.
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42227
I do not understand what a 'CSRS Offset' really is. Is this when a federal employees is under CSRS and also working a job where they are paying Social Security? I transferred to FERS, with 22 yrs of CSRS service, but I was told I don't have a CSRS Offset. thanks
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42223
In February, the first increment, termed Wave 1 (I guess the term "Spiral" was already taken by DoD for NSPS implementation), of employees - specifically those serviced by the GSA Shared Service Center - will be given access to OPM's Retirement System Modenization (RSM) tools. This will, so the advance hype has said, provide RSM-covered employees with, among other things, the ability to generate accurate retirement projection estimates themselves easily. Assuming the hype is correct (I'll be one of the Wave 1 "guinea pigs" and will soon find out), this could minimize if not eliminate entirely the type of true "horror stories" discussed in your article. The question is, though, what kind of training or orientation, if any, will be furnished to those entering RSM's "Brave New World" to furnish them with guidance on how to use the system's tools to greatest effect. So far nothing has been disseminated in this regard. Any relevant "insider information" that you pick up would be very useful to your readers, as the entire Federal workforce, based on the timetable for successive "Waves," is due to be given access to RSM by the end of CY 2008.
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42206
Hello: Tammy I am a 60% SC Veteran whose medical condition has deteriorated to the point that I am considering applying for a "Non-Work Related" reiterement for medical reasons. I will turn 55 years young in June 2008. My question to you: How will my retirement be computed? Regular retirement because of being eligible? or under a different formula for having to retire because of my medical conditions?
Looking forward to your response.
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42205
The sad part of this story is that people are not held accountable. Your last paragraph say8s it all, that not all agencies have fully trained personnel. The same thing happened in the military-people would be given information by the personnel department regarding re-enlistment, which in some cases was a good piece of money for a bonus. But if they re-enlisted early or late, they could lose the bonus. And the average person is depending on the "specialist" to know thier job. We almost have to know everyone elses job including our own to make it in this world.
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