Nov. 15 column on retirement

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Q. In your article of Nov. 15 on the best time to retire, regarding the lump-sum payment for unused annual leave, you stated:

“…most of you will get a lump-sum payment for all your unused annual leave, including the so-called “use or lose” leave you would have lost if you retired after the new leave year begins. I said “most of you” because there are limits on how much annual leave a U.S. Postal Service employee can cash in.”

This is the first I heard that there is a limit on how much postal employees may get for unused annual leave upon retirement. What is the hour or dollar limit?

A. According to the Postal Service, bargaining unit employees may receive a terminal leave payment for accumulated annual leave carried over from the previous year and accrued annual leave for the year in which they separate, but only up to the carryover maximum for their bargaining unit, which is usually 440 hours.  Executive Administrative Schedule employees may receive a terminal leave payment for accumulated annual leave carried over from the previous year and accrued annual leave for the year in which they separate. The maximum carryover for these employees is 560 hours.

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Reg Jones was head of retirement and insurance policy at the Office of Personnel Management. Email your retirement-related questions to fedexperts@federaltimes.com.

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