Federal Daily News
Pace of new retirement claims continues to ease
- By FederalSoup Staff
- Jun 10, 2013
The Office of Personnel Management got a breather in May as retirement claims continued to come in slightly below estimates for the second month in a row after surging in the first quarter of the calendar year.
In its monthly claims processing update, OPM reported receiving 7,084 new claims in May, about a thousand less than the 8,000 it had forecast.
While the agency had projected it would process 11,500 claims in May, it processed slightly fewer than that—10,954—but did so after OPM Retirement Services on April 28 eliminated all overtime for the remainder of the fiscal year due to funding reductions necessitated by the sequester.
OPM reported a remaining backlog of 26,210 claims at the end of May, about the same number it recorded at the end of 2012. While OPM had expected to whittle its backlog to 19,578 claims by the end of May, an unexpected surge of claims in February and March resulted in OPM receiving 18,244 more claims in the first quarter than it had forecast.