OPM Issues Report On Its New RetireEZ Program

New Program is permanently transforming retirement process "..."We are pleased to report the majority of cases that processed to date under RetireEZ matched the legacy calculation," said OPM Director Linda M. Springer. "In all Wave 1 cases OPM paid full retirement benefits at the payment commencement date. No longer are retirees under the new system receiving interim payments and waiting for months until their actual payment amounts are calculated. This success is directly attributable to the transformation of millions of paper records to automated data that underlies the modernization. All Wave 1 new retirees are getting better service because of RetireEZ."..."
[Reference: www.opm.gov]
www.retireez.gov

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Federal and * Postal employees will soon be able to calculate full retirement income online

Model your retirement online "... OPM bought the retirement calculator for $290 million in 2006 from Hewitt Associates. Not only will it allow employees to calculate their own retirement income, but OPM will use it to calculate retirement checks for federal retirees. ..." [Reference: federaltimes.com]

The program is named RetireEZ

Visit the RetireEZ website at www.retireez.gov

* Subsequent rollouts of RetireEZ will cover the remainder of the Executive Branch, the U.S. Postal Service and the Legislative and Judicial Branches, with the fifth and final rollout scheduled for February 2009.