Retaining Employment Records Can Be Crucial
Everyone Makes Mistakes
It’s a fact of life: everyone makes mistakes—including retirement plan administrators. Mistakes are especially likely to occur when employers change recordkeepers or systems of keeping records. Retaining your own records of employment can mean that those mistakes can be corrected.
Changes for Federal Workers
The recent announcement from the Office of Personnel Management (OPM) that federal retirement applications must be submitted digitally and not on paper should prompt federal workers to check their employment and personal histories to verify that all information is correct.
OPM announced that new retirement applications must be submitted digitally beginning on June 2, 2025. Beginning July 15, 2025, paper applications will not be accepted.
Periodically checking the accuracy of your employment records is a good idea for all employees, not just those who are nearing or at retirement. It’s also important to keep a personal copy of your employment file, either on paper or on a home computer.
Employment records can include hours worked, salaries, and job titles. Personal records such as home address and contact information, as well as beneficiary name and contact information, can prove to be important when you leave active employment.
Federal workers with retirement accounts in the Thrift Savings Plan (TSP) should check on the accuracy of their balances periodically, but especially when leaving employment. If possible, federal workers should request a print-out or other documentation of their balances before leaving employment.
While we hope that the government’s move to digital processing of retirement applications will proceed smoothly; it’s always a good idea for employees to have their own records. We do have concerns that some participants and beneficiaries could lose important information about their rights in this move to digital processing.
Read this article from Federal News Network for more information about the move to digital processing of retirement applications for federal employees.
By Jane Smith
