Key Steps for Federal Employees Preparing to Retire

What Do Federal Employees Need to Know if They Are Ready to Retire?

If you’re a federal employee preparing for retirement, it’s essential to understand the steps involved and recent updates to the process. Here’s a comprehensive guide to help you navigate your retirement journey:

Key Steps for Federal Employees Preparing to Retire

 Verify Your Eligibility

• Federal Employees Retirement System (FERS): Eligibility typically requires reaching the Minimum Retirement Age (MRA) with at least 30 years of service, age 60 with 20 years, or age 62 with 5 years.
• Civil Service Retirement System (CSRS): Eligibility criteria differ; refer to the CSRS handbook for specifics. U.S. Office of Personnel ManagementU.S. Office of Personnel Management+1U.S. Office of Personnel Management+1

2. Review and Complete Necessary Forms

• Application for Immediate Retirement (FERS): Use Standard Form (SF) 3107.
• Continuation of Life Insurance Coverage: Complete SF 2818 if you wish to continue Federal Employees’ Group Life Insurance (FEGLI) into retirement. U.S. Office of Personnel Management+3U.S. Office of Personnel Management+3U.S. Office of Personnel Management+3

 Gather and Verify Documentation

• Official Personnel Folder (OPF): Ensure it contains all records of your federal service.
• Military Service Records: If applicable, confirm that your military service is documented and any required deposits are paid. U.S. Office of Personnel Management

 Understand Your Benefits

• Thrift Savings Plan (TSP): Decide on withdrawal options and understand the tax implications.
• Social Security: Determine the optimal time to begin receiving benefits.
• FEHB and FEGLI: Review your eligibility to continue health and life insurance benefits into retirement. U.S. Office of Personnel Management

 Submit Your Application

• Timing: Submit your retirement application approximately 60 days before your intended retirement date.
• Submission: If you’re currently employed, submit your application through your agency’s HR office. If separated, send it directly to OPM. U.S. Office of Personnel Management

IMPORTANT – Transition to Digital Retirement Applications

Starting June 2, 2025, the Office of Personnel Management (OPM) will process all new retirement applications digitally through the Online Retirement Application (ORA) system. Paper applications will no longer be accepted after July 15, 2025. This shift aims to expedite processing times and improve accuracy. Business Insider