By Reg Jones
Q. I am age 61. Planning to retire (FERS) in November and take Social Security in February 2014 at the age of 62. If I submit my paperwork in October (waiting to see if there is a buyout), retire Nov. 30, and it takes three months to process paperwork, will I get a retirement check + special retirement supplement for December and January, whenever the retirement checks are processed? For example: When I receive my first payment in February, will it include funds/checks for December and January, as well as February?
A. Here’s the basic drill: When the Office of Personnel Management processes your application, it will put you in interim pay, pending the completion of its review. When that review is complete, they will pay you any additional amount you are entitled to, retroactive to the date of your first interim annuity payment. Included with that will be any special retirement supplement payments to which you are entitled.