Federal Daily News
OPM says more accurate interim annuities on way
Inaccurate interim annuity payments have long been a sore spot for many new federal retirees, but the situation may be about to improve, according to Federal Times.
The Office of Personnel Management’s associate director of retirement services, Bill Zielinski, told the publication that OPM this month will begin to employ the strategy of starting interim annuities using initial pension estimates from employing agencies.
At the same time, Zielinski also said the strategy will not work for every retiree, particularly those who have complicated federal employment histories. He said OPM is working to identify those cases in which agency initial estimates may not be accurate.