What Is The "Cumulative Retirement" Amount on your Leave & Earnings Statement?

[@danielmelton7481]

Best answer I have found to this question! Thank you!

[@MsMocha62]

Thank you so much!

[@debbiehatch8016]

You're welcome. Thank YOU for being here, and watching.

[@MarcyCavalier-xc4ez]

So is it normal to not have a huge amount in the Cumulative amount? I’ve worked for DoD for 20 years and I only have $6641k in that box. Seems pretty low to me.

[@debbiehatch8016]

Good morning. It is absolutely normal not to have a huge amount in there. It is only 0.8% of what you've earned over the past 20 years. That said, please do know this small amount do not impact the amount you'll receive in your pension which is calculated as Creditable Service X High-2 Average Salary X 1% or 1.1% depending on age.

[@kyle7345]

@@debbiehatch8016 yeah i was sitting at work with a co worker and we were talking about deductions and we seen i was at 6800 and he was at 22k on that. only thing we wont the same on is that i been working twice as long as he had.

[@porgem6644]

Thanks so much for all the information! I recently retired (actually almost one year ago) and happened to be going thru some paperwork including my last couple of official LES’s prior to retirement. That’s when I too had to question what the cumulative retirement amount was as well! This was the best presentation I’ve found thus far on the topic. I assume when I get my 1099R as you’ve mentioned, that the taxable amount of income will NOT include the cumulative part already taxed, correct? Also - thanks for including the states that don’t tax the federal annuity I receive. Living in Pennsylvania, I was pleased to discover they don’t tax my pension. Yay! Thanks again!!

[@debbiehatch8016]

Congratulations on your retirement! I'm glad the video was helpful to you and appreciate your complimentary input. Thank YOU. You will not pay federal income taxes on the part of your pension that has already been taxed, correct.

[@dave2664]

What if you leave federal service before retirement, does this money go with you?

[@debbiehatch8016]

Sorry for the slight delay in getting back to you. If you leave Federal employment prior to being eligible for an immediate annuity, yes you can have your deductions returned. Alternatively, if you have completed at least 5 years of covered civilian service and you leave your money in the fund, you will be entitled to a “deferred” monthly annuity at age 62. If you have completed at least 10 years and you leave your money in the fund, you could choose to collect an annuity once you are 55 or older (depending on your year of birth).

[@ericcanales9494]

Hello, thank you soooo much for your video, it was very informative. I do have question for you though, I left the DOD three years ago and had 14yrs in. I was never given the out briefing for what to do with my retirement except for deferring it. I have tried to get on OPM to calculate my take home pay but , things have changed so much I do not know what I am looking at plus they are requesting some pass number I am supposed to have but do not sooooo no access for me. any suggestions ? thank you , Eric Canales

[@debbiehatch8016]

Hey, Eric. Apparently there was a period of time where I wasn't receiving notifications of comments. I'm just seeing this right now. So sorry for the delay in getting back to you. That's not my norm. Are you still employed by the federal government at this time or you left federal employment entirely, 3 years ago, after having worked 14? I'm going answer by assuming that second part is true. If that isn't the case, let me know. Do you have any of your old SF-50s (including potentially your resignation action)? If so, it will be easier. If no, you'll need to get those first. Civilian personnel records are normally transferred to the National Personnel Records Center within 120 days after an employee's separation from Federal employment. Here's a link to that process: www.archives.gov/personnel-records-center/civilian-personnel/faqs#1 How old are you now? Are you planning to apply for your deferred retirement now (knowing that if you draw prior to age 62 you will have a penalty applied for the rest of your life) or just trying to gather everything together so you can file later? WHENEVER you want to apply, you will need to complete a form RI 92-19. Send that (as well as your initial hiring and/or resignation SF-50 if you have them) directly to OPM to apply for your retirement. If it is not that you want to file for Deferred Retirement but; rather, to request a refund of the money you contributed to the CSRDF, complete an Application for Refund of Retirement Deductions www.opm.gov/forms/pdf_fill/sf3106.pdf and mail it to: U.S. Office of Personnel Management Retirement Operations Center Post Office Box 45

[@eddibowers2682]

Where is the OPM/DFAS regulation which defines "Block19"?

[@debbiehatch8016]

It’s not a regulation of any sort and every federal agency has a different format for its Leave & Earnings (aka pay stub) Statement. In fact, different agencies even call the document different things. Here is a link to the DFAS website explaining a DoD Civilian LES. www.dfas.mil/Portals/98/19-3_LES.pdf

[@eddibowers2682]

@@debbiehatch8016 OK, looked this over, good site for LES information. Looking a bit deeper into Block 19 though. Would like to take block 19 out in a Lump sum. Any specifics in OPM on Block 19 Lump sum withdrawl?

[@debbiehatch8016]

@@eddibowers2682 Perfect. That's an entirely different question. Please know that I'm not being flippant in any way - but I want others who read these comments to be aware that when we change the question (even a tiny bit) we also change the answer. The money we put into the CSRDF goes towards funding our federal pensions. 5 U.S.C. 8331(8) and 8342 as well as 5 CFR Part 831, Subparts Q and T cover our limited ability to pull that money out in a lump sum. "The lump-sum credit may be paid to: 1. A separated employee or an employee who is no longer covered by CSRS or FERS. 2. The beneficiaries of a deceased employee as a lump-sum death benefit provided there is no survivor annuitant. 3. The beneficiaries of a deceased annuitant (or survivor annuitant) if the full amount of retirement contributions had not been paid out in the form of an annuity (or survivor annuity) at the time of death. 4. The beneficiaries of a deceased former employee." Further 32A1.1-4 of the CSRS/FERS Handbook (see page 8 of this document: www.opm.gov/retirement-center/publications-forms/csrsfers-handbook/c032.pdf ) outlines all criteria that must be met for a withdrawal.

[@eddibowers2682]

@debbiehatch8016 Thank you. So much to learn. Sincerely appreciate your commitment and advice. Eddi

[@66flhp]

This is Sooo helpful. I've bounced around a little between Departments. How accurate could this be. How can I make sure my retirement reflects all I've contributed? Thank you!

[@debbiehatch8016]

Glad it was helpful! Thank you so much for letting me know. I'm sorry for the delayed response. You Tube sometimes tells me people commented and sometimes they don't let me know. In order for YOU to know what you truly have in there, you'd need your final pay checks from each of those other agencies and add them all together. Otherwise, when you retire from your last federal position, that payroll office will notify OPM how much you've contributed. They will add it to the amount they have listed from all of the other agencies and tell you, at that time, what the total is. Remember that this does not drive your pension amount. It does effect taxes, and is a potential benefit payable to your survivors when you pass away.

[@rubyholder8446]

Just saw your video. It was very informative. My question is: if I leave federal service before retirement eligibility can I get my FERS contributions refunded to me and if it I do get it back how can I determine the rate of interest that is owed to me. Thank you.

[@debbiehatch8016]

Thank you very much, Ruby. Yes, if you leave the government prior to retirement eligibility, you can request a refund of your FERS contributions. Here's a link to OPM's information (and request form). www.opm.gov/retirement-services/fers-information/former-employees/ You will get interest on the refund of those contributions if you worked more than one year. Interest is paid at the same rate that is paid for government securities.