Q: If I retire at the end of fiscal year 2010 — on Sept. 30 — can I delay cashing out my annual leave balance until 2011, when I would be in a lower income tax bracket?
A: No, you can’t. Lump-sum payments are automatic and are made when your finance office completes the close-out of your employment records. As a rule, the payment is made at the same time your final paycheck is issued.
