Federal Civilian Retirement (Current Employees)
Cancelled 2017 Fall Webcast Schedule - Retirement Overview.
Due to limited resources and low attendance, Retirement webcasts have been cancelled for Fall 2017. We recommend school locations interested in hosting a session for their staff to complete the Field Request form and FAX to 505-563-5305. We can be more flexible with scheduling with advance notice.Want to know more about Retirement? Click here for Handout!
Curious about retirement? Check out one of these OPM videos at your own pace and convenience:
Retirement: Where do I start?
The OPM (Office of Personnel Management) website contains a wealth of information regarding pay and benefits for federal employees.
The Department of Interior (DOI) has discontinued it's contract with the contractor, Government Retirement & Benefits (GRB). Employees who wish to have retirement estimates and/or counseling are asked to download the form below, complete it, and fax it to the BIE Human Resources Office at (505) 563-5305. Each request requires time to research service history and complete calculations, we appreciate your patience!
Have some basic questions about the process? check out our Retirement flyer!
Retirement Estimate Form (for current BIE employees including P.L. 93-638/P.L.100-297 with retained benefits)
We recommend receive an estimate first to verify eligibility, to determine possible monthly annuity, to discuss benefit options, and to clarify the process. With an estimate available, schedule an appointment to discuss via telephone or in person. Due to the high volume of requests, appointments are highly encouraged (especially for telephone consults).
Estimate requests submitted less than 60 days before their target date may NOT receive information in time to make an informed decision.
Don't wait to submit your estimate as although schools may be on break (Spring, Summer, Fall orWinter), HR Office continues to be busy to keep ahead of the requests.
I received an email that my estimate was complete, where can I get a copy?
As of 02/28/15, employees must have an active PIV/CAC card to access FHR Navigator in order to access estimates online. As a result, effective 02/10/15, the Benefits Unit has returned to mailing out hard copy estimates to an employee's official address (e.g., where W2s are mailed to unless employee provides a different address).
Due to the size of the files, we are unable to email or fax estimates.
Remember: The estimates provided to you are estimated amounts and are not intended to represent actual amounts. The Office of Personnel Management has sole authority and responsibility for adjudicating retirement claims.
If you want to schedule a consult, send an email to email@example.com or leave a phone message at 505-563-5210. No walk-ins please, schedule an appointment!
Thrift Savings Plan (TSP)
New employees are automatically contributing 3% into TSP. As of September 2015, those funds are being deposited into appropriate Lifecycle Fund as Traditional TSP contributions. Lifecycle fund target year is determined on year of birth. The target year would be when the employee turns 62.
|For those born in years:||Expected TSP drawdown in:|
|L Income||1953 or earlier||Before 2016|
|L 2020||1954 - 1962||2016 - 2024|
|L 2030||1963 - 1972||2025 - 2034|
|L 2040||1973 - 1982||2035 - 2044|
|L 2050||1983 or later||2045 or later|
Employee can stop the automatice 3% contribution by completing TSP-1 or online through Employee Express. To request a refund of 3% contributions, employee MUST submit TSP-25 within 90-days as identified in the TSP Welcome Letter sent to employee. That letter is sent to correspondence address on file after first contributions are posted to create the TSP account.
More information on TSP, click here or for featured videos:
- TSP: You Can Take It With You (06/27/14 - OPM webcast
- TSP: You Can Take It With You (07/11/14)Additional Q&As - OPM webcast
I am a temporary or intermittent employee not eligible for TSP, how can I save for my retirement?
Good Job! You are thinking about the future and want to do some planning.To dream of retirement is good,to prepare and plan for retirement is better!
Department of Treasury created myRA (my Retirement Account) for employees who do not have access to retirement savings at work. It is backed by Department of Treasury and earns interest at the same rate as the Government Securities Fund (G Fund) available in TSP.
myRA is a Roth IRA that can be transferred or rolled over to other Roth IRA accounts. You can contribute up to $5,500 per year. You can have a maximum account balance of $15,000 or a lower balance for up to 30 years. When those limits are reached, the savings will be transferred into a private-sector Roth IRA.
Geting started with myRA by visiting myRA.gov
more information to be posted soon! click here for Social Security Website