Q. I’m planning to retire from CSRS on Nov. 2, 2012, with 37.6 years. Can I sell back my comp time along with my annual leave, or do I need to take it before I retire?
A. As a rule, any unused compensatory time you still have to your credit will be paid in a lump sum at the overtime rate in effect when the leave was earned. However, compensatory time earned during non-duty hours while on TDY has no cash value.
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Does this apply to FERS as well?
Yes.
Does this apply to FLSA-exempt/executive level employees who typically are ineligible for overtime pay?
No, it doesn’t. Executive level employees aren’t eligible for compensatory time.
Are there exceptions on the comp time buy back? Is it always paid out at the earned rate and not the retirement rate?
Yes, it is. There aren’t any exceptions.