Annual leave and cashing out

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Q. I will have approximately 503 hours of annual leave when I retire at the end of May (183 hours were carried over). I also have 24 hours of a time off award and 30 hours of home leave unused as a result of a previous overseas assignment. Will my payout for leave include the 24 hours of the time off award added to my 503 hours? Will I receive a payout for the 30 hours of home leave, will I simply lose it, or will it be added as creditable service in my retirement calculations?

A. You will receive a lump-sum payment for up to 24 credit hours, which will be paid at your hourly rate of pay on the day you retire. On the other hand, you won’t receive either a lump-sum payment or service credit for any unused home leave.

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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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