In September, the OPM retirement backlog fell by nearly 9%.
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Plan for delays to avoid being taken off guard. Keep an emergency fund on hand if you must wait for your claim to be processed. You will receive partial retirement payments while you wait, but not your full annuity benefit. Use the online application forms provided by OPM to ensure legibility. Make sure to thoroughly check your application before sending it to your HR department. You must remember to sign and initial the application for the Federal Employees Retirement System (SF3107, Section D) or the Civil Service Retirement System (SF2801, Section F). The personnel office at your agency that completed your SF 2801-1 or SF 3107-1 (Certified Summary of Federal Service) form should provide a copy with their name and contact details. If you notice any discrepancies or problems, correct them before your divorce. Keep copies of your completed application and your service history (SF-50 Notification of Personnel Action) forms. The forms show the beginning and ending dates of federal service appointments, changes in your work schedule, changes in your retirement coverage, military records, and records of civilian and military service credit deposits. Inquire with your retirement specialist about how long you should expect to wait for your lump sum annual leave payout. Also, inquire how long it will take for your application to be forwarded to OPM. Visit the Thrift Savings Plan (TSP) website to learn about the four critical things you must do with your account after leaving federal work.
Contact Information:
Email: [email protected]
Phone: 9187441333
Bio:
Mark, a lifelong Tulsan graduated from Westminster College, Fulton, Missouri with a Bachelor of Arts in Accounting. Mark served in the United States Army as a Captain in the 486th Civil Affairs BN. Broken Arrow, Oklahoma and retired in 1996. Mark is married to his high school sweetheart Jenny and has four beautiful children. Mark’s passion for his work, which includes over 20 years in the Financial Industry started as an Oklahoma State Bank Examiner. Mark examined banks throughout Oklahoma gaining a vast knowledge and experience on bank investments, small business and family investments. Mark’s experiences include being formally trained by UBS Wealth Management, a global investment firm where he served as a Financial Consultant specializing in Wealth Management for individuals & families. Mark is a licensed Series 24 and 28 General Securities Principal and an Introducing Broker Dealer Financial Operations Principal. Additionally, Mark is a Series 7 and 66 stockbroker and Investment Advisor focusing on market driven investments for individuals, businesses and their families.
Mark specializes in providing financial knowledge, ideas, and solutions for federal employees, individuals, families and businesses. We serve as your advocate, and assist you in the design and implementation of financial strategies while providing the ideas to maximize your security and wealth. Our goal is to give you maximum control of your financial future. We provide the expertise to help you with personal issues such as: practical tax Ideas, risk management, investment solutions, and estate preservation.
Additionally, we’ve counseled hundreds of employees on their transitions from careers in federal government, and private industry to their next life stage, whether that is retirement or a second career. We specialize in devising strategies that roll your TSP, 401(k), pension plan, to a suitable IRA to meet your objectives.
Disclosure:
Securities offered through GRF Capital Investors, Inc., 6506 South Lewis Avenue, Suite 160 Tulsa, OK 74136 Phone: 918-744-1333 Fax: 918-744-1564
Securities cleared through RBC Capital Markets, LLC. 60 South 6th St., Minneapolis, MN 55402
Member FINRA www.finra.org / SIPC www.sipc.org
Broker Check http://brokercheck.finra.org/