Federal Civilian Retirement (Current Employees)
Great News!! TSP provides monthly webcasts!
TSP webcast to provide an overview of changes to withdrawal options based on TSP Modernization Act of 2017. Those new options scheduled to start September 2019.
The FRTIB Office of Communications and Education has been providing WebEx registration for monthly webinars regarding variety of TSP topics. Check back often for the link for online registration (password: TSPweb). For more information about available TSP Training visit TSP website.
|Intro to TSP||none scheduled for April|
05/08 - 1pm EST
|TSP Contributions & Funds|
|none scheduled for May|
|TSP Post-Service Withdrawals|
04/03 - 10am EST
04/03 - 1pm EST
|none scheduled for May|
|TSP Loans & In-Service Withdrawals||none scheduled for April|
05/09 - 10am EST
05/09 - 1pm EST
OPM has also posted the archived video for the popular TSP Webcast - Your TSP Account: What to think when nearing retirement or considering leaving the Government (10/02/18)
Only 1 Retirement Webcast remaining for Spring 2019! We highly encourage employees to attend one of the webcasts, especially if retiring within the next 6 months! Our motto is "To DREAM of retirement is good, to PLAN for retirement is better!"
Webcast Schedule - click the individual day's link to access webcast. Click here for handouts. All sessions are in Mountain time and last approximately 90 minutes. If your computer does not have microphone and speakers, dial in to the conference line provided. Webcasts display better when using GoogleChrome.
|Sessions begin at 10am Mountain time.||Conference Line Info|
|Friday - January 18, 2019||completed|
|Friday - February 8, 2019||completed|
|Friday - March 15, 2019||completed|
|Friday - April 12, 2019||completed|
|Friday - May 10, 2019||completed|
Schools can still request for on-site presentations by completing the Field Request form and FAXing to 505-563-5305. Advance notice is required for planning and school locations pay the travel costs of presenter.
Not able to attend a session? Check out one of these OPM videos at your own pace and convenience:
- Retirement Overview (2017)
- Military Deposits (02/10/14)
- CSRS/FERS Overview (07/23/13)
- Your TSP Account: What to Think when Nearing Retirement or Considering Leaving the Government (10/02/18)
I am thinking about retirement, where do I start?
Want to retire? Don't know where to start? check out our Steps to Retirement flyer!
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!
Retirement Estimate Request 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 a consultation session with the HR Specialist to discuss the estimate and learn about the retirement process. We encourage virtual consults which are done over the phone or using computer hook-up. Virtual consults help save gas money, travel time, and time away from work/home. Refer to the instructions in your completed Estimate packet for how to schedule a consultation and to know what documents to have available.
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 or Winter), 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 505-563-5451. No walk-ins please, schedule an appointment!
What forms do I submit to apply for Retirement?
Normally a retirement application is included in the completed Estimate packet mailed to employees. All retirement forms are available on OPM website.
For FERS employees - SF-3107, Application for Immediate Retirement
For CSRS/CSRS Offset employees - SF-2801, Application for Immediate Retirement
If have FEGLI, don't forget SF-2818- Continuation of Life Insurance Coverage
If changing Federal tax withholding or electing no Federal taxes withheld, don't forget W4P.
For disability retirement applicants - SF-3112, Documentation in Support of Disability Retirement Application
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 automatic 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: 3 Ways to add $100,000 to your TSP (NEW!)
- 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
Unfortunately Treasury has discontinued the myRA program available to temporary and intermittent employees. For employees who may have established a myRA account, please review the "close out" process posted on the myRA.gov website.
more information to be posted soon! click here for Social Security Website