Federal Retirement Applications Act of 1988

Federal Retirement Applications Processing Act of 1988 - Requires Federal agencies to ensure that employee personnel files include information of all Federal employment for retirement purposes within 120 days after an employee begins service with an agency.

Requires an agency, if an employee gives at least a year's notice of intent to retire, to: (1) inform such employee of the agency retirement counselor and applicable seminars; and (2) begin processing the retirement application not later than 90 days before the date of separation.

Requires the Office of Personnel Management (OPM) to compile quarterly information on the timeliness (within 30 days after a separation date) and accuracy of agencies in submitting retirement applications. Requires agencies that are less than 90 percent accurate or timely to prepare corrective action plans to achieve compliance. Directs OPM to report to the Congress annually on such compliance.

Requires the agency retirement counselor to conduct seminars at least twice a year.