Q. I am a FERS employee and plan on retiring March 31, 2014. Can you provide any guidance on whether this would be a good date to retire, or do you advise earlier in the year?
Browsing: Annual leave
Q. When I take Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay and I have annual leave, are they combined into one lump sum for tax purposes, or are they separate?
Q. I plan to retire at the end of February. In January, I will receive 208 hours of use-or-lose leave. Will I be able to use the 208 hours or only get the days until I retire in February?
Q. I have been on sick leave most of the year. I have 205 hours of use-or-lose annual leave. Is my agency required to carry this over since I was unable to use the annual?
Q. I expect to receive a lump-sum payment for annual leave accumulated in 2012-13 in 2014. When should that lump sum be taxed?
Q. I retired from the Postal Service on Jan. 31. I am 60 years old and I took the Voluntary Early Retirement Authority. I received an $11,000 annual leave payment, and the $10,000 buyout. I also receive a widow’s benefit from Social Security of $9,000. Will this money be counted as earned income on my income taxes against the $15,120 limit? I also receive the special retirement supplement.
Q. I was told to retire on the last day of the month. However, that day falls during the middle pay period. Which would be most financially beneficial: Stay with that day and lose eight hours of annual cash in pay or complete the pay period and retire the first week of the next month, thus getting the eight hours of annual pay but losing the benefits of retiring at the previous month’s end?
Q. Would the receipt of lump-sum leave payment (estimated $17,000) and a Voluntary Separation Incentive Payment (estimated $25,000) count against the earnings test to receive the special retirement supplement? If so, I assume that would effectively eliminate the supplement in the first years.
Q. I joined the military Sept. 12, 1978, and retired Oct. 1, 2008, with just over 30 years of active military service (no broken time). I began working for the federal government under FERS on Jan. 4, 2009. I’ve been told that I can resign after five years of government service (Jan. 3, 2014) and collect retirement benefits from the federal government once I reach the age of 62. Is that correct? If I have 40 hours of annual leave and 40 hours of sick leave, what is the earliest I can retire? Would it be two weeks prior to…
Q. I will have 10 hours of annual leave, effective with the pay period ending Nov. 16. My FERS retirement date is Nov. 30. I want to clear station Nov. 26, take annual leave Nov. 27 and 29 and have holiday excused on Nov. 28. Is there any problem with this and with using my annual leave the same pay period I earn it?