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News Release
Monday, February 25, 2008
Tel: 202-606-2402
OPM Unveils New Retirement Administration System for 26,000 Federal Employees in First Wave of Rollout
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.
The U.S. Office of Personnel Management (OPM) is the leader in workforce management for the federal government. Our agency builds, strengthens, and serves a federal workforce of 2.2 million employees with programs like hiring assistance, healthcare and insurance, retirement benefits, and much more. We provide agencies with policies, guidance, and best practices for supporting federal workers, so they can best serve the American people.