Q. Please tell me approximately how much money I will receive upon expecting to retire June 3 with accrued annual leave of 240 hours, use-or-lose of 208 hours, plus 49 years of government service?
A. To find out the gross amount you’d receive, multiply your hours of unused annual leave by your hourly rate of basic pay. For example, if you had 240 hours of unused annual leave and your rate of basic pay was $20 an hour, then your lump-sum payment would be $4,800. However, the amount you will receive will be less because federal taxes, state taxes (where applicable) and Social Security will be deducted from the payment.