Q. If I retire Jan. 3, 2014, and my first check is on Saturday, Feb. 1, is my first check counted as back January retirement pay, or do I receive a double payment for both January and February?
A. Annuity payments, like paychecks, are always issued after the required time has passed. You work for two weeks, you get a paycheck; you are retired for one month, you get an annuity payment. Note: By retiring on the third day of the month, your first month annuity payment would only be 27/30th of the full amount.