Washington, DC -- The U.S. Office of Personnel Management is today initiating the rollout of the Federal Government's new retirement administration process. Employees in Wave 1 agencies will now be able to retire under a system, which will be known as RetireEZ, that will quickly and accurately calculate their retirement benefits.

"Federal employees who have committed their lives to serving America deserve the best, most accurate retirement processing system available," said OPM Director Linda M. Springer. "RetireEZ moves federal agencies from a labor-intensive, paper-based process to a modern, electronic system that contains all the federal and military service records needed to compute the annuities of federal employees. With the efficient electronic transfer of retirement-related documents to OPM, employees will receive their full annuity from the start, instead of first being subjected to reduced interim payments due to missing paperwork."

Wave 1 covers approximately 26,000 employees in agencies serviced by the General Services Administration's (GSA) payroll processing center. These agencies include OPM, GSA, the National Archives and Records Administration, and the Railroad Retirement Board. Subsequent rollouts 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.

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Our mission is to Recruit, Retain and Honor a World-Class Workforce to Serve the American People. OPM supports U.S. agencies with personnel services and policy leadership including staffing tools, guidance on labor-management relations and programs to improve work force performance.