You’ve likely heard complaints about delays at the Office of Personnel Management (OPM) when processing retirement applications. If you’ve ever wondered why it takes so long, here’s a timeline to help you plan for covering living expenses during the first few months of your retirement.
Agency & Payroll Processing: Approximately 30-45 Days
When your agency’s personnel office receives your retirement application, they’ll confirm you meet the requirements to retire on the date you’ve indicated and your eligibility to continue FEHB in retirement. Once completed, they’ll send you a copy of your Certified Summary of Federal Service (CSFS) and transfer your FEHB enrollment to OPM along with the most current beneficiary designations in your OPF.
Next, your personnel office forwards your application to your agency’s payroll office. They will authorize your final salary and any lump-sum payment accrued for unused annual leave. Once completed, you’ll receive a notice with a registration number and the date your retirement package was sent to the OPM.
“The interim annuity is approximately 80% of your full FERS annuity and you should start to receive it three to four weeks into your retirement.”
OPM Application Intake: Approximately 10-15 Days
The OPM will send you notice it has received your application plus a retirement claim number. Once it’s confirmed you meet the requirements for an annuity, the OPM authorizes an interim annuity payment while it processes your application. The interim annuity is approximately 80% of your full FERS annuity and you should start to receive it three to four weeks into your retirement.
OPM Application Processing: Approximately 50-90 days
Once OPM makes the final calculation of your annuity, any money you’re owed from your interim payments will be included in your first full annuity payment. Keep in mind that it can take as long as 90 days to get your first full monthly annuity check. That’s why it’s important to have funds at hand to cover expenses in the meantime.
The OPM’s New Retirement Quick Guide
The new, easy-to-read, three-page guide outlines what to expect as your retirement application is processed by the OPM. It includes a helpful “Tracking Your Retirement” Worksheet that enables you to enter the date of your separation and get the latest timeline estimate depending on the month you retire. Click here to download the Quick Guide.
How To Help Expedite The Process
File your retirement application early and give your agency at least 60 days notice before the date you intend to retire. It also helps to check your OPF and SF-50 forms for accuracy a year before your retirement to ensure you have enough time to make any corrections. If you find errors or missing information, notify your agency’s personnel office immediately.
