Q. I am CSRS and considering a retirement date of Oct. 31. But I want to check with you if a few assumptions that I am making are valid. First, Oct. 31 is the second Thursday in the pay period, and we work a compressed 5/4/9 schedule, where the second Friday in a pay period is a regular day off. Will retirement on Thursday, Oct. 31 complete the pay period for me and allow me to accrue the annual and sick leave for that pay period, and the full month of November retirement pay? Second, I am hoping to take…
Browsing: Annual leave
Q. Your response on Aug. 2 indicates the lump-sum payment of unused annual leave is reduced automatically by 25 percent to cover federal, state and local taxes. The lump-sum payment is subject to Social Security withholdings. Is the Social Security taken out as part of the 25 percent, is it taken before the taxes come out, or after the taxes come out?
Q. Will annual leave be paid under phased retirement, or will the participant maintain the same leave balance in phased retirement?
Q. I am FERS employee planning to retire Jan. 31, 2014. I will receive a check for unused annual leave when I retire. I know the annual leave payment will be taxed and Social Security taken out. Is that annual leave payment considered income against the $15,000 that I can earn without affecting my Social Security benefit in 2014? Is the annual leave payment considered in establishing my Social Security benefit? The annual leave payment check will be over $15,000.
Q. Previously, I worked for the federal government and left. When I left, I received money from my leave. I returned to the federal government 10 years later. Is there any way I can pay back the money I received from my leave so that it could change my service computation date?
Q. What are the deductions/withholdings from the lump-sum payment of unused annual leave at retirement? Obviously, federal and state taxes will be deducted, but what about federal pension, Thrift Savings Plan, federal health and life insurance, etc.? I plan to take out a loan from my TSP which will have to be repaid when I retire, so I want to make sure I have sufficient funds from payment of my annual leave balance at retirement to pay off the loan. Therefore, I need to know what deductions will be.
Q. I am resigning from federal service soon to begin a job in private industry. Will I get paid for the remaining annual leave I still have on the books, or do I lose it? And sick leave?
Q. I found out from the Office of Personnel Management that the end of the leave year in 2021 will be Saturday, Jan. 1, 2022, and for 2022 will be Dec. 31, 2022. I will have age and time in 2021 as I will be 62 and seven months with 29 years service. It looks as though I may have two years in which I could retire and still get an entire year of annual leave. I am a FERS employee and my tour of duty is Monday through Friday normally. Am I correct in my assumption that I would…
Q. I have 37 years of service under CSRS. I want to retire before the end of the year. I have 38 hours of restored leave and over 300 hours of annual. Will I be paid for my restored leave, or will I lose it if not used?
Q. There is a possibility I can move (promotion) to a different government organization. I have 4½ years now with the General Services Administration, and the new position is with the Air Force. Would all items transfer from one to another (sick leave, annual leave, so on)?