Retirement Planning



  

It’s never too early to start planning for retirement. You should begin planning for retirement about five years before your planned retirement date.

The five year plan for retirement is important because you must be enrolled in Federal Employees Health Benefits (FEHB) and Federal Employees' Group Life Insurance (FEGLI) coverage for five years immediately before retirement or since your first opportunity to enroll in order to carry them into retirement.

Steps to take prior to your planned retirement date

5 Years or Less1 Year or Less6 Months Out
  • Review your service history for verification of all civilian and military time (If applicable) and to verify if a deposit/re-deposit is required.
  • Confirm that your FEHB/FEGLI forms are correct. (note: there is a 5 year requirement to carry both into retirement).
  • Check your eligibility for Social Security benefits.

  • Confirm you are eligible to retire.
  • Set a date to retire.
  • Review your benefits for eligibility into retirement.
  • Review your beneficiary forms to verify your designations.
  • Arrange to attend a pre-retirement brief.
  • Contact a Retirement Specialist to request an annuity estimate and to review your Official Personnel Folder. You can also utilize the estimator tool in GRB to get an estimate.
  • Resolve any debt owed to your employing agency.
  • Ensure all deposits are paid if applicable.
  • Choose your exact. retirement date
  • Complete your retirement application and submit it to your HR Operations Center for processing.

For more information on retirement planning click on the following link OPM.Gov

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