Anyone know what date and how we receive the “Benefit Commencement Package”? (Page 12 of the SPOSA questions and answers document)
Also, when does the package expire?
Thanks
3 replies (most recent on top)
If you didn’t receive a BCP automatically (through the voluntary program), then you will have to request one from the EMBSC. Be careful though. I was told (by one of their agents) that I can only make one request for a BCP and that’s it - I have to take it.
If you’re not ready to commit, just keep tracking the interest rates and asking for updated pension estimates every quarter. When the numbers look their best for you - choose your BCD and request the package.
Also, be warned - the EMBSC staff are useless. Honestly, they could employ 5-year olds and you’d get better and more knowledgeable service.
And most likely direct deposit into your bank account (where you get paychecks).
From my understanding, you will receive paychecks for severance and vacation within 30 days of your last official day on the payroll. So if you were notified in December, you will probably get paid between mid Feb and early March.
You will also have access to your 401k funds in Feb (for rollover or whatever you choose to do with it).