What's New in Retirement Benefits

FEHB Self + One for Annuitants

Coverage under a Self Plus One enrollment became available in January 2016. Annuitants enrolled in FEHB can change to Self Plus One during the annual Federal Benefits Open Season or if they experience a qualifying life event. Read more

Phased Retirement

Phased Retirement is a human resources tool that allows full-time employees to move to part-time work schedules while beginning to draw retirement benefits. This new tool will allow managers to better provide unique mentoring opportunities for employees while increasing access to the decades of institutional knowledge and experience that retirees can provide.

Online Course

Benefits Officers Training and Development is very happy to announce the availability of our first on-line course—CSRS Offset.

OPM's CSRS Offset training covers the major aspects of the CSRS Offset program from a benefits officer's point of view including:

• Coverage determinations
• Decision factors
• Service requirements and other benefits
• Annuity provisions
• Offset computations
• Interrelationship with Social Security

Register for the course at our secure on-line registration site.

Retirement In Focus

Federal Ballpark Estimate

OPM developed the Federal Ballpark Estimate,  a savings goal worksheet.  You can use the Federal Ballpark Estimate to automatically calculate estimates of future Civil Service Retirement System (CSRS) or Federal Employees Retirement System (FERS) retirement benefits and Thrift Savings Plan account balances.  It will also let you know how well you are doing in meeting your savings goal.  The Federal Ballpark Estimate was developed in partnership with the American Savings Education Council (ASEC) of the Employee Benefits Research Institute.

Retirement Financial Literacy and Education Strategy

OPM has developed a retirement financial literacy and education strategy for Federal employees.  The plan is designed to educate Federal employees on the need for retirement savings and investment, provide information on how to plan for retirement and how to calculate the retirement investment needed to meet their retirement goals.  View additional information on the Benefits Officers Training page.

Implementation of Retirement Coverage Error Corrections Legislation

The online FERCCA Database is now closed.  Agencies are encouraged to continue to notify and educate employees on FERCCA and to review employee's personnel records as needed.  Agencies are reminded to notify your agency's headquarters level Benefits Officer if you identify any individual(s) who have a retirement coverage error and are eligible for relief under FERCCA; the Benefits Officer will then notify OPM.

Visit our FERCCA Home Page for further information and to view the FERCCA FAQ's.   The FERCCA Homepage provides you with everything you need to know about FERCCA and it's implementation.  We suggest that you bookmark it for future reference.

Visit the Insure site for more information on the other part of this legislation, long-term care insurance.

Benefits Administration Information Online Mailing List

Are you registered for the Benefits Administration Information (BENEFTS INFO) online mailing list?  The Benefits Administration Information list emails information, primarily Benefits Administration Letters (BAL), to subscribers. While the primary customers for the Benefits Administration Information list are agency benefits officers, anyone, anywhere can subscribe to the list. Benefits Administration Letters will be sent to list subscribers automatically.

Information about this mailing list can be found in BAL 00-701.

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The Benefits Officers Development and Outreach (BODO)’s complete library of training streamed videos for the human resources professional are available on OPM’s YouTube Channel.

Future videos will be announced through our Benefits Administration Information mailing list. To add your name to the listserv, choose BENEFITSINFO from the drop down menu and provide your name and email address. 

BODO training events, online courses, and registration information can be found in our Registration Portal. 

Access the most recent Benefits Administration Letters under our Publications & Forms page. 

Financial Planning Tools

This listing of financial literacy resources provides external links as a convenience to our audience. The appearance of external links on this page does not constitute an endorsement by the Office of Personnel Management of the linked websites, or the information, advice, products or services contained therein. This website provides links to government and non-government websites as a public service only. The Office of Personnel Management neither controls nor guarantees the accuracy, relevance, timeliness or completeness of the information contained in these website links.

Whether you just started working or are planning for retirement, the following resources are useful guidelines to help you make decisions about planning and saving during all stages of life.

New Employees

• It is never too early to start saving - by starting early, you will need to save a lot less later on. Read about New Employee Savings Tips - Time Is on Your Side.
• Find ways to meet your financial and retirement goals: Savings Fitness - A guide to your Money and Your Financial Future
• Use a Payroll Deductions Calculator to help you determine the impact on your take home pay if you increase your TSP or 401(k) plan contributions. You can also access the Contribution Comparison Calculator to determine which type of contributions (traditional and/or Roth) will best suit your retirement goals.
• Do you know what is on your Credit Report? Access to Free Credit Reports
• Use a Savings Tax Advantages Calculator to help you determine your earnings on savings on how both federal and state governments will tax the amount of money you save now.
• The IRS encourages everyone to use the Tax Withholding Estimator to perform a “pay check check-up.” This will help you make sure you have the right amount of tax withheld from your pay check.
• Worried about Student Loan Repayment? If you are facing problems repaying your federal student loan payments, here is what you can do. Read this guide that provides information about repayment of loans from various federal student loan programs. There are several repayment plans available; the Repayment Estimator can help you figure out which repayment plan is best for you.
• Find out how your Agency's workplace retirement investment plan (such as TSP or a 401(k) plan) works and the advantages of participating. If your employer contributes, it is free money - do not pass it up!

Mid-Career

• Listen to FDIC's Money Smart Podcast Network to learn about the basics of borrowing money wisely, using a spending plan to achieve financial goals, and how to use banking products effectively.
• Find Tips on How to Save Smart for Retirement and how to make saving for retirement a habit.
• Review Top 10 Ways to Prepare for Retirement to learn about the advantage of starting early.
• Get familiar with retirement issues and figure out how much you may need when you retire by reading the Taking the Mystery Out of Retirement Planning guide.
• Do you have any emergency savings? Use an Emergency Savings tool to help you determine how much emergency savings you may need and how you can begin saving towards this important goal.

Pre-Retirement

• Learn how the age you start collecting Social Security affects your retirement benefits.
• Estimate your Social Security benefits by using the Retirement Estimator.
• Use this Retirement Toolkit to help you understand your retirement plan, Social Security and Medicare.
• Review basic information on Social Security, how you can qualify for benefits and the documents you will need in order to apply for Social Security benefits.
• Access your Social Security Statement and get personalized retirement benefit estimates online by using your mySocial Security account. Use the Checklist for Online Medicare, Retirement, & Spouses Applications to help you gather information you may need to create an account.
• If you start receiving Social Security retirement benefits, some members of your family could also qualify to receive Social Security benefits.
• If you are ready to apply for Medicare, you can review eligibility requirements and apply online.
• Read the Issue Brief on the costs and risks of using a reverse mortgage to delay collecting Social Security.
• Use the Federal Ballpark E$timator (FEBE) to project your Federal annuity and Thrift Savings Plan benefits to help you quickly identify approximately how much you need to save to fund a comfortable retirement.

Post Retirement

• Visit the Consumer Financial Protection Bureau to learn how to protect yourself from fraud and financial exploitation.
• Review these resources to help older adults and their caregivers navigate some of the important decisions that can affect later-life financial security.
• Check out free financial education placemats that can help older adults and their families avoid common financial scams.
• Prepare for the Unexpected: Financial preparedness tips before a disaster strikes.

Other Resources

• COVID-19 - USA.GOV - This directory provides a list of resources on what the federal government is doing in response to COVID-19.
• FLEC National Financial Capability Month - Tools and resources on taking action to improve finances and prepare before a disaster strikes.
• FDIC Money Smart - A Financial Education Program - The FDIC's Money Smart financial education program can help people of all ages enhance financial skills and create positive banking relationships.
• OCC Financial Literacy Resource Directory - This directory provides information on financial literacy resources, issues and events that are important to bankers, organizations, and consumers of all ages.
• CFPB Paying for College - Provides information on how to make informed financial decisions about how to pay for college.
• Federal Student Aid - The official Federal student aid website that provides checklists for academic and financial preparation, information about grants, work-study, loans and scholarships, loan estimates and how apply for a loan.
• MyMoney.gov - a Congressionally chartered Federal Financial Literacy and Education Commission website that provides tools and access to financial services across the Federal Government.
• OCC's Financial Literacy Updates - A bimonthly e-newsletter that reports upcoming events, new initiatives and related resources of the OCC and other government agencies and organizations.
• SEC Investor.gov - The U.S. Securities and Exchange Commission's online resource to provide information on making sound investment decisions and avoid fraud, including steps on helping you define and meet your financial goals, an introduction to investing, ten things you should know about investing, and determining how much your money can grow using the power of compounding interest.
• Consumer Assistance Center - National Credit Union Administration's Consumer Assistance Center assists consumers in resolving disputes with credit unions and providing information about federal consumer financial protection and share insurance matters.
• FTC Consumer Information - A free and public domain from the Federal Trade Commission on everyday financial issues.
• HelpWithMyBank.gov - Answers and solutions for customers of national banks and federal savings associations.
• CFPB Tools and Resources for homebuyers - Tools provided by the Consumer Financial Protection Bureau.
• Consumer's Guide to Credit Cards - Provided by the Federal Reserve Board
• Mortgages for Home Buyers and Homeowners Personal Finance - U.S. Department of Agriculture, Cooperative Extension System.
• HUD Approved Housing Counseling Agencies - U.S. Housing and Urban Development.
• Index of State and Local Consumer Agencies - Your Local Consumer Protection Agency.
• Office of Child Care - Organization that aids in the support of low-income families by providing information and access to early life care for kids and afterschool programs.
• Centers for Medicare & Medicaid Services - Information about quality and costs of Medicaid, Medicare, and the Health Insurance Exchanges.

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General Resources

• Publications and Forms – CSRS/FERS Handbook, Benefits Administration Letters (BALs), pamphlets, and forms
• FERRCA – Federal Erroneous Retirement Coverage Corrections Act (FERCCA) homepage provides everything you need to know about FERCCA procedures and legislation
• HR Resources – Quick links for Benefits Officers to OPM retirement and insurance pages and other agency websites
• Tools and Aids – Federal retirement tools and aids for Benefits Officers
• Training – Retirement workshops for Human Resources Specialists

Agency Retirement Case Accuracy Resources

Agency Retirement Case Accuracy Report – This report reflects the number of non-disability retirement application packages reviewed and the associated error rate for an agency that had at least 15 cases reviewed in a specified month in the current fiscal year.

The below list highlights key resources available for Human Resources Offices and Payroll Offices on preparing and submitting retirement application packages:

Benefits Administration Letters (BALs)

• BAL 24-103, Process Change for Retiring Employee Open Season Elections Effective After Retirement
• BAL 24-103 Attachment 1: FEHB Enrollment Change in Package
• BAL 24-103 Attachment 2: Instructions for FEHB Enrollment Change Cover Sheet and Assembling Retirement Application Packages
• BAL 22-101, Changes to Acceptable Signature Requirements on Retirement Processing Forms
• BAL 22-101 Appendix A: Acceptable Forms with Electronic Signatures from Agencies and Payroll Offices
• BAL 22-101 Appendix B: Examples of Acceptable Electronic/Digital Signatures
• BAL 22-101 Appendix C: Common Questions Concerning Permanent Changes to Acceptable Signature Requirements on Retirement Processing Forms
• BAL 21-104, Additional Guidance Regarding Certification of Service Performed as a Law Enforcement Officer, Firefighter, Nuclear Materials Courier, Customs and Border Protection Officer (535 Service), or Air Traffic Controller
• BAL 17-101, Additional Guidance on Military Deposits
• BAL 16-102, OPM No Longer Accepting Corrections on Certain Benefits Election Forms
• BAL 15-102, Additional Items to Report on Individual Retirement Records (IRRs) in Cases of Separation, Removal, or Resignation
• BAL 14-105, Updates to the Data Exchange Gateway (DEG) and Important Reminders
• BAL 14-105 Attachment 1: DEG Data Set
• BAL 14-105 Attachment 2: FEHB Cover Sheet
• BAL 14-103, Documenting a Retiring Employee’s Eligibility to Continue Federal Employees Health Benefits (FEHB) Enrollment into Retirement
• BAL 14-103 Attachment 1: Instructions for FEHB Information and Certification Memorandum
• BAL 14-103 Attachment 2: FEHB Information and Certification Memorandum
• BAL 12-103, Submitting Healthy Retirement Application Packages - Revised
• BAL 12-103 Attachment A: CSRS and FERS Development Checklist and Log
• BAL 12-103 Attachment B: Annotated CSRS and FERS Development Checklist
• BAL 12-103 Attachment C: CSA Document Order for Retirement Package Submissions
• BAL 12-102, Acceptance of Photocopies of Signed Documents in Retirement Application Packages and other Agency Submissions
• BAL 11-103, Authority to Redeposit Refunds under the Federal Employees Retirement System (FERS)
• BAL 02-318, Additional Reporting Requirements for Offset Employees who Participate in HB-PC
• BAL 02-304, CSRS Withholdings for CSRS-Offset Employees Who are HB-PC Participants
• BAL 01-106, Action on SF 2806s and SF 3100s When There is a Payroll Office Change

CSRS and FERS Handbook for Personnel and Payroll Offices

• Chapter 40 – Planning and Applying for Retirement
• Chapter 42 – MRA + 10 Retirement
• Chapter 43 – Early Voluntary Retirement
• Chapter 44 – Discontinued Service Retirement
• Chapter 46 – Special Retirement Provisions for Law Enforcement Officers, Firefighters, Air Traffic Controllers, and Military Reserve Technicians
• Chapter 81 – Individual Retirement Records and Registers of Separations and Transfers

Information Sheets

• Agency Retirement Application: Recommendations for Common Human Resources Errors
• Agency Retirement Application: Recommendations for Common Payroll Errors
• Applying for Federal Retirement Benefits: Guidance for Federal Employees

Retirement and Insurance (RI) Forms

• RI 38-86, Proof of Marriage for the Purpose of Obtaining Retirement Benefits

Training Videos

• OPM Virtual Benefits Training – Military Deposits under CSRS and FERS (2021)
• OPM Virtual Benefits Training – Retirement Application Processing (2021)
• OPM Virtual Benefits Training – Service Credit and Voluntary Contributions (2021)
• OPM Virtual Benefits Training – Court Ordered Benefits (2021)
• Streaming Video – Tips on Submitting a Healthy Retirement Package
• Streaming Video – Retirement Application Audit
• Streaming Video – Retirement Counseling Tips
• Streaming Video – CSRS and FERS Provisions Relating to NAF Service
• Streaming Video – Crediting DC Government Service
• Streaming Video – Crediting Peace Corps and Vista Service

Suggestions for information and services that you would like to see added to these pages should be directed to the Benefits Officers Liaison and Development group at benefits@opm.gov.