OPM.gov / Retirement / My Annuity and Benefits / Annuity Payments

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# Annuity Payments

# Overview

As a Federal annuitant receiving monthly benefits you can browse the listings below to see how to manage your monthly annuity benefits online.

The Online Services section lists the websites that OPM provides for annuitants to manage their monthly annuity benefits.

The Report a Missing Payment or Death sections provides online access to submit information on missing payments and the ability to report the death of anyone receiving a regular monthly payment from OPM.

Voluntary Annuity Allotments are withholdings that can be withheld from your monthly annuity benefit. Federal and State Tax and Financial Allotments are examples of Voluntary Annuity Allotments. The election to make an allotment or withholding change can be made online with Services Online.

Other Information of Interest section lists information about cost of living increases, information on life changing events after retirement, and important dates for annual mailings and the last day to make changes to your monthly annuity.

## Online Services

                - Services Online  – Manage your monthly annuity

## Report a Missing Payment or Death

                - Missing Payment(s)  – Notify the Office of Personnel Management of a missing payment.
                - Report of Death  – Report Death of Federal employees, retirees and survivors

## Voluntary Annuity Allotments

                - Federal & State Tax Information  – Make Federal and State Tax elections
                - Savings Bonds  – Manage Saving Bond Elections
                - Financial Allotments  – Create and/or modify checking and savings accounts

## Other Information of Interest

                - Cost-of-Living Adjustments (COLA)  – Current Year Cost of Living Adjustment
                - Life Events  – Useful information for life event for retirees and their families.
                - Third Party Payees  – Information on Power of Attorney

# New Retiree

## When you’ll get your first payment

In most cases, as soon as we get all your retirement records, we provide "interim" payments. These payments represent a portion of your final benefit and are usually made on the first business day of each month. We try to provide you with income until we finish processing your application.  View the annuity payment schedule.

## Withholdings from interim payments

We only withhold Federal income tax. You may find that the Federal income taxes withheld from your first interim payment will be higher than the Federal tax withholdings from your subsequent interim payments and regular annuity. We will make any necessary tax withholding adjustment when we finish processing your application. Your health and life insurance coverage will continue while you are receiving interim pay. We will begin withholding health and life insurance premiums retroactive to the commencing date of your annuity, when we finish processing your application.

## What you will receive when the Office of Personnel Management finishes processing your application

We will send you a personalized booklet titled "Your Federal Retirement Benefits". It details, among other things, how much your monthly payment will be. It also confirms such things as health and life insurance coverage, and provides information you will need to prepare your tax returns.

## Credit for Federal civilian service if you didn’t make retirement contributions

Under the Federal Employees Retirement System (FERS), you will be given the opportunity to pay for temporary service prior to January 1, 1989. Under the Civil Service Retirement System (CSRS), if you had service on/after October 1, 1982, for which no contributions were made, we will give you the opportunity to pay the contributions, and will tell you what difference it makes to your monthly benefit. If you had unpaid service prior to October 1, 1982, we do not notify you before we finish processing your application because it generally is not to your advantage to make the payment.

## Changing your health insurance coverage after retirement

After you retire, you will still have the opportunity to change your enrollment from one plan to another during an annual open season. You cannot change to another plan simply because you retired.

Federal Employees Health Benefits (FEHB) Program qualifies as minimum essential coverage (MEC) and meets the Patient Protection and Affordable Care Act. For more information, please  visit the website.

If you are a Federal annuitant enrolled in the FEHB Program and if you decide to cancel your FEHB enrollment, you should be aware of the consequences of canceling your FEHB enrollment including the following but not limited to:
                - You CANNOT re-enroll in the FEHB Program.
                - You and your enrolled family members will not be eligible to enroll in temporary continuation of coverage or convert to a nongroup contract; in addition, the 31-day extension of coverage does not apply to cancelled enrollments.
                - If you die, you will not have an FEHB Self and Family enrollment for your survivors to continue, even if they are eligible for a survivor annuity.

## Changing your life insurance coverage after retirement

You can cancel or decrease your coverage at any time. You cannot increase your coverage.  Once you cancel your life insurance coverage it can NEVER be reinstated.

## Amount of cost-of-living increase you will receive

We will prorate the first cost-of-living increase based on how long you were retired before it is given. At that time, we will send you a notice explaining the increase.  Federal Employees Retirement System (FERS) cost-of-living increases are not provided until age 62, except for disability and survivor benefits.

## Taxable portion of your retirement benefit

                - Use our calculator  to figure the tax-free portion of your annuity payment.
                - Use our calculator  to figure the amount of your monthly federal income tax withholding.
                - Then, use  Services Online  to change the federal tax withheld from your annuity payment.

# Direct Deposit

## How do I sign up for direct deposit?

Use Services Online to sign up for direct deposit, or to change the account or bank where your payment is sent. You will need your claim number and password to use the self-service website. You will be asked whether your account is a savings or checking account and to provide your account number and the routing number for your financial institution (found next to your account number on the bottom of your check). You should contact your financial institution for assistance in getting the routing number if you are not sure. When you make a change, we will mail you confirmation of the change. You can also call or write us to sign up for direct deposit or change your account or bank. If you write, your letter should include your claim number. You can also use this form to sign up for direct deposit. Or, you can submit a Standard Form 1199A, "Direct Deposit Sign Up Form," which is available at your bank.

When you change the account you use for direct deposit, keep the old account open until a payment is posted to the new account. This will prevent having the payment returned if there is a problem with the new account.

## If I have direct deposit, where will the Office of Personnel Management (OPM) send my mail?

We keep a separate mailing address to periodically send you information about your retirement, health and life insurance benefits. You can see the current record of your mailing address on Services Online. Please notify us if this address changes.

(If you do not receive your payments through direct deposit, we ordinarily use the same address for mailings and payments.)

# Payment Schedule

The U.S. Department of Treasury has made changes affecting payment of federal benefits. These changes will soon require anyone who receives a federal benefit to change to Direct Deposit or a Direct Express debit card. If you don't sign up with us now, you'll be informed by the U.S. Department of Treasury about the phase out of paper checks and their replacement with the Direct Express debit card.

Currently, more than 95% of Federal retirees and survivors receive their payments by Direct Deposit. Direct Deposit is **safe**, reliable, and convenient. You have no worries that your paper check could be delayed in the mail, lost, or stolen. Payment is always made the first business day of the month.

Currently we can make payment by Direct Deposit into your account in a bank, credit union, savings bank, or thrift institution. Many financial institutions offer basic, low-cost accounts, as well as full-service accounts. To help you sign up for Direct Deposit, we are providing many options:
                - You can make your change on your online retirement account at  Services Online .
                - You can fax a  SF 1199A  form to 724-794-6633. This form can be obtained from your financial institution.
                - You can mail a  SF 1199A  form to OPM, Retirement Operations, PO Box 45, Boyers PA 16017-0045.
                - You can call us at 1-888-767-6738, please be sure to have your bank routing number and account number handy.
                - You can visit  www.GoDirect.org ,  FAQ's about GoDirect , or call GoDirect at 1-800-333-1795.

# Missing Payment

If you do not receive your payment on the first business day of the month, **please call your financial institution first** for information. You can report a lost or missing paymentonline. You may also call us during regular business hours or write to:

U.S. Office of Personnel ManagementAttention: Check LossPost Office Box 7815Washington, D.C. 20044-7815.

If you write to us, please sign your letter.

Tell us which check is missing. We will also need to know:
                - your seven-digit claim identification ("CSA" or "CSF") number; and
                - the date you expected to receive the missing payment. (This is to avoid any misunderstanding about which payment you have not received.)

When we receive your report, we will notify the U.S. Department of Treasury about your missing or lost payment. If the payment has not been negotiated, they will issue you replacement payment. If the payment has been negotiated, they will send you instructions on how to file a claim for a duplicate payment.

# Allotments

## Organizational

You can start, change, or stop an allotment to participating organizations. Participating organizations include:
                - American Federation of Government Employees PAC (AFGE);
                - Federal Aviation Administration Managers Association (FAAMA-PAC);
                - Federal Managers Association Political Action Committee (FMA-PAC);
                - Fraternal Order of Retired Border Patrol Officers - Museum (FORBPO);
                - National Air Traffic Controllers Association (NATCA);
                - National Association of Letter Carriers –COLCPE (NALC-COLCPE);
                - National Association of Postal Supervisors Political Action Committee (NAPS-PAC);
                - National Association of Postmasters of the U.S. Political Action Committee (NAPUS-PAC);
                - National Association of Active and Retired Federal Employees (NARFE-PAC);
                - National Rural Letter Carriers Association Political Action Committee (NRLCA-PAC);
                - National Treasury Employees Union (NTEU); and
                - Treasury Employees Political Action Committee (TEPAC).

If the organization for which you wish to make an allotment is not listed above, you should contact them and ask them to provide us with the banking information needed to forward payments. The organization can contact us by email at finance@opm.gov.

Use Services Online or call our toll-free number to make one-time or recurring membership payments to organizations.

## Checking & Savings

Checking and savings allotments are voluntary deductions for allotments sent by direct deposit to a checking or savings account in your name. You may have up to two allotments. The accounts must be maintained at a domestic financial institution. This does not include charities, garnishments, court orders, union or other organizational dues. You must maintain at least $100 net annuity payment. The allotment must be for a minimum of $50.

Use Services Online to start, change, or stop an allotment or call our toll-free number to establish a checking or savings allotment.

# Savings Bonds

The Office of Personnel Management no longer withholds for the purchase of paper savings bonds. Individuals may continue to purchase, manage, and redeem electronic EE or I Bonds safely through a personal TreasuryDirect account.

## Consider these additional benefits when you open a TreasuryDirect account

                - You can purchase and redeem your savings bonds online
                - You can view and track your purchases and account activity online
                - You can access and print detailed information about your current holdings 24 hours a day
                - In the future, you will also be able to purchase Treasury bills, notes and Treasury Inflation-Protected Securities (TIPS) through the same TreasuryDirect account.

## Why is the U.S. Treasury offering you this new way of purchasing savings bonds?

Like most providers of financial products and services, the U.S. Treasury is working hard to modernize its programs and make them more attractive to the growing number of individuals who prefer electronic investments they can manage themselves online, with 24-hour access.

We strongly support the U.S. Savings Bonds Program. You can use this program to finance children's education, supplement your future retirement income, or save for any other purpose- all backed by the full faith and credit of the United States. As with the previous paper saving bond program, TreasuryDirect provides you with a convenient way to save.

Through an annuity deduction, just like one you would use to contribute to a bank or credit union account, you can transfer funds to your TreasuryDirect account and purchase savings bonds.

We encourage you to visit www.treasurydirect.gov for more information and a guided tour of site.

# Cost-of-Living

## Current Cost of Living Adjustments (COLA)

Retired Federal employees and entitled surviving family members of deceased Federal employees and retirees will receive a Cost-of-Living Adjustment (COLA) effective December 1, 2023, which will be reflected in their benefit payable January 2, 2024.

Under the Civil Service Retirement System (CSRS) and the Organization Retirement and Disability System (ORDS), the COLA will be 3.2 percent for those who have received benefits for at least one year. The 3.2 percent increase was determined by computing the percentage increase in the Consumer Price Index (CPI) for urban wage earners and clerical workers from the third quarter average of 2022 to the third quarter average 2023, as provided by the U.S. Department of Labor, Bureau of Labor Statistics.

Under the Federal Employees Retirement System (FERS) and FERS Special, the COLA will be 2.2 percent for those who have received benefits for at least one year. This amount was derived from the same CPI comparison as CSRS and subtracting one percentage point. FERS law provides that if the change to the CPI is greater than 3 percent, the FERS COLA is 1 percent point less than the CPI increase.FERS and FERS Specials Cost-of-Living Adjustments are not provided until age 62, except for disability, survivor benefits, and other special provision retirements. FERS disability retirees get the adjustment, except when they are receiving a disability annuity based on 60 percent of their high-3 average salary. Also, under FERS, if retirees have a CSRS component, the component is subject to the CSRS COLA calculation. FERS survivors receive the FERS increase on their entire annuity, even where component service is involved.

To get the full COLA, a retiree’s annuity or a survivor annuity must have begun no later than December 31, 2022. If not, the increase is prorated under both CSRS and FERS retirement plans. Prorated accounts receive one-twelfth of the increase for each month they receive benefits. For example, if the benefit commenced November 30, 2023, the prorated COLA would be one-twelfth of the full COLA.

Under both CSRS and FERS retirement plans, benefits are paid on the first business day of the month after the month in which they accrue. Benefits which accrue in December 2023 are payable on January 2, 2024.

A benefit will not be increased if it would cause the annuitant to receive payments in excess of any cap amount specified by law.

## Note:

The minimum COLA increase is $1.00. Even if the full CSRS COLA rate of 3.2% or FERS COLA rate of 2.2% a prorated COLA would result in the annuity rate not increasing, $1.00 is still added to the monthly rate.

The tables below show the actual prorated percentages that apply, under both CSRS and FERS according to the month in which the annuity began.