OPM suspends contract for electronic retirement system

"...The move came just days before OPM was scheduled to launch wave two of the retirement project for employees at the U. S. Postal Service. Currently, 26,000 employees at the General Services Administration have converted to the system, with OPM expecting to transfer all federal employees to RetireEZ by February 2009...."    

Source: www.govexec.com


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Postal Retirement

Polled and Pushed on Diversity "...About 26,000 federal employees, who are paid through the General Services Administration, are in the first phase of RetireEZ. The U.S. Postal Service, with about 700,000 employees, will join the retirement modernization project next. The OPM expects that about 2,000 postal employees will file retirement claims every month and that will provide a better sense of how the new system functions, Springer said...."
[Reference: www.washingtonpost.com]

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Federal RetireEZ Update

New Program is permanently transforming retirement process "..."We are pleased to report the majority of cases that processed to date under RetireEZ matched the legacy calculation," said OPM Director Linda M. Springer. "In all Wave 1 cases OPM paid full retirement benefits at the payment commencement date. No longer are retirees under the new system receiving interim payments and waiting for months until their actual payment amounts are calculated. This success is directly attributable to the transformation of millions of paper records to automated data that underlies the modernization. All Wave 1 new retirees are getting better service because of RetireEZ."..."
[Reference: www.opm.gov]
www.retireez.gov

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RetireEZ

RetireEZ will quickly and accurately calculate your federal and postal retirement benefits. The program is in the first stages of roll out and postal employees will be the last group of employees to be able to use the new site. Subsequent rollouts of RetireEZ will cover the remainder of the Executive Branch, the U.S. Postal Service and the Legislative and Judicial Branches, with the fifth and final rollout scheduled for February 2009.