Q. I’m a FERS employee preparing to retire at age 60 and 29 years of service. I have informed my human resources office and received the applications and an annuity estimate. I realize from reading your columns that the end of a pay period and month are good times to retire to receive the last annual leave increment and to begin the annuity on the first day of the following month. This year, a biweekly pay period ends on Saturday, June 1. However, that is not a work day in my agency. Can I retire on Friday, May 31 and accrue annual leave for the pay period? Would my annuity begin with an effective date of June 1?
A. If you work all the way through your regular biweekly work schedule of 80 hours before you retire, you will earn your annual and sick leave accrual for that pay period. Further, according to the Office of Personnel Management, “If an employee retires on a Friday, their effective date is that Friday and they work until [close of business]on that Friday.”
