Federal retirement is not something you prepare for the week before you leave. Most experts recommend starting at least one year out — and some items should be addressed years in advance. Here is a complete pre-retirement checklist.

1. Verify Your Official Personnel Folder (OPF)

Your OPF contains your service history, which is the basis for your pension calculation. Errors in your OPF — missing service periods, incorrect dates, wrong salary records — can delay your retirement processing and result in wrong benefit amounts.

Action: Request a review of your OPF through your HR office at least 1–2 years before retirement. Confirm all service periods are documented, especially if you have military service, previous federal service, or gaps in employment.

2. Check Your Military Service Deposit

If you have active duty military service, you may be able to get credit for those years in your FERS pension — but you usually must pay a military service deposit to OPM. The deposit is generally 3% of your military basic pay for each year of active service.

Action: Contact your HR office about the military service deposit. Calculate whether the pension credit is worth the deposit cost (it usually is). Deadline: the deposit must be paid before you retire.

3. Request a Retirement Estimate from OPM/HR

Your agency HR office can generate a formal retirement estimate using your official records — more accurate than any online calculator.

Action: Request a retirement estimate at least 6–12 months before your planned retirement date. Review it carefully and report any discrepancies.

4. Review and Update Beneficiary Designations

Your FERS pension, TSP, FEGLI life insurance, and unpaid compensation all have separate beneficiary designations. If your beneficiaries are outdated (listing a former spouse, deceased parent, etc.), those designations control regardless of your will.

Action: Log in to the TSP website and your myOPM portal. Review all beneficiary forms and update them as needed.

5. Max Out TSP Contributions in Final Years

Your final years are your peak earning years. Maximizing TSP contributions during this time maximizes the tax-advantaged growth before retirement.

Action: If you are 50+, contribute the full ,000 (,500 + ,500 catch-up) in 2025. Even a few additional years at maximum contributions can add significantly to your TSP balance.

6. Understand Your FEHB Options

You can keep your Federal Employees Health Benefits (FEHB) coverage into retirement if you have been enrolled for at least 5 continuous years immediately before retirement. This is one of the most valuable benefits of federal service.

Action: Verify you meet the 5-year enrollment requirement. Review your plan options during Open Season before retirement. If your spouse is younger and not yet on Medicare, FEHB coverage during the gap years is critical.

7. Plan for the “Interim Pay” Gap

OPM typically takes 2–4 months to process retirement claims. During this time, you receive interim pay (usually 60–80% of your estimated annuity). Your full pension — and any backpay — arrives once your case is fully adjudicated.

Action: Build a cash reserve of 3–4 months of expenses before retiring. Your lump-sum annual leave payout helps here — use it as a bridge fund.

8. Decide on Survivor Benefits

As covered in our Survivor Benefits article, this is an irrevocable decision. Your spouse must consent in writing if you decline.

Action: Model both options using your pension estimate. Discuss with your spouse. Make the decision deliberately — not at the last minute in the HR office.

9. Apply for Social Security at the Right Time

If you retire before 62, the FERS Supplement covers you. But at 62, you need to actively apply for Social Security — it does not start automatically.

Action: Create an account at ssa.gov/myaccount. Plan your application date. If you can delay Social Security beyond 62, your benefit grows 6–8% per year up to age 70.

10. Calculate the Full Picture

Before you retire, know your complete monthly retirement income: pension + supplement (if applicable) + TSP withdrawals + Social Security.

Action: Use our FERS Calculator for your pension estimate. Combine this with your Social Security statement and TSP balance for a complete retirement income picture.

Retirement is one of the biggest financial transitions of your life. Take the time to prepare carefully — the payoff is decades of financial security.