Despite Progress, Sharp Increase in Retirement Claims Expected in 2015

Soon-to-be retired federal employees can still expect long wait times for the U.S. Office of Personnel Management to process their retirement claims.

Despite making tremendous progress and improvements, the OPM is anticipating an influx of retirement claims this month which could create another claim logjam and lengthen the time it takes for retired federal workers to begin receiving their hard earned benefits.

According to Government Executive, the OPM has a backlog of nearly 12,000 retirement claims to get through. And to start off the New Year, the agency is expecting a fresh batch of 19,000 new retirement claims in January.

The ever-present mountain of retirement claims has plagued the agency for decades and remains an incessant point of contention with Congress and federal workers who are hoping for a smooth transition into retirement.

The OPM has been implementing reforms and efficiencies to mitigate the wait times federal employees face when they file their retirement papers. In light of the reforms, the agency says it is now processing 83 percent of retirement claims within two months of filing.

However, government statistics do not always translate into relief for federal workers who, of course, desire retirement security when the day comes when they decide to call it a day for good.

Despite promises from the OPM to digitize the process and make even greater strides to improve the speed in which claims are processed, there still remains quite a bit of lag time and insecurity when it comes to your retirement pay and benefits.

“We’re going too slow right now, and that concerns me,” said Rep. Stephen Lynch, D-Mass., ranking member of the federal workforce subcommittee, as reported by Government Executive.

The processing of your retirement claim is, unfortunately, another factor that must be weighed, among many other factors a federal worker, like yourself, must consider when deciding to retire.

That’s where we come in. Well before you decide to send your file to OPM, contact one of our benefits specialists for a free pay and benefits consultation.

We’ll help you run the numbers and understand how your pay and benefits will carry over into retirement. And we’ll take a look at any potential gaps and problems that may arise because of OPM’s backlog.