Q: I plan to retire Jan. 3. At the end of this year, I will still have 40 hours of “use or lose” leave. Will I be paid for that leave in my final lump-sum annual leave payment, or will I forfeit this leave? A: In 2011, the leave year end date is Jan. 1. If you retire after that date, any unused annual leave in excess of 240 hours would be lost. You would receive a lump-sum payment for those 240 hours.
Browsing: Annual leave
Q: For the 2010 year, what is the last day for U.S. Postal Service bargaining unit employees to reduce their annual leave to 440 hours? Is it Jan. 1, 2011? Is it true that the following year, we would have until Jan. 14, 2012? A: The 2010 leave year ends Jan. 1, 2011. The 2011 leave year ends Dec. 31, 2011, and the 2012 leave year ends Jan. 12, 2013.
Q: I have 70.5 days of annual leave and will be separating very soon via a Medical Evaluation Board on a service-connected disability. Am I allowed to sell my annual leave? Are there any pros and cons? A: All civilian employees who separate from the government either by resigning or retiring automatically receive a lump-sum payment for their unused annual leave.
Q: I am a federal employee working under the Federal Employees Retirement System. I have served approximately 7.5 years on active military duty, either as an active-duty soldier or as a reservist activated under Title 10. I have bought back the 7.5 years of military time. In doing so, am I entitled to receive the equivalent of annual leave time that I would have received had I been employed with the federal government? If so, will it be calculated at a rate of four hours per pay period or the six hours that I am currently accruing? A: Accordng to…
Q: I will soon be accepting a GS-13 position with the Department of Homeland Security. I am retired military and understand the buyback system; my question pertains to leave accrual. How will leave accrual be determined if I choose (or choose not to) to buy back my military time? Also, I have two deployments for which I received an Armed Forces Expeditionary Medal. Is that time automatically approved for leave accrual? A: Unless you make a deposit for your active-duty service and waive your military retired pay, you’d only get leave accrual credit for those periods of service when you…
Q: If I retire at the end of fiscal year 2010 — on Sept. 30 — can I delay cashing out my annual leave balance until 2011, when I would be in a lower income tax bracket? A: No, you can’t. Lump-sum payments are automatic and are made when your finance office completes the close-out of your employment records. As a rule, the payment is made at the same time your final paycheck is issued.
Q: I resigned my GS position (involuntarily) from an abusive work section situation in Utah and received a lump-sum payment. I have since acquired a new federal job. When I go to the Employee Benefits Information System Web site, it states 180 hours of leave, but the amount says “n/a.” So, I guess it is a one-time payment? A: Yes, it is a one-time payment. When you left government, you exchanged your accumulated hours of annual leave for cash. The site you went to reflects the fact that on the day you left government, you had a balance of 180 hours;…
Q: Could you tell me if the payout on Base Closure and Realignment Leave and the payout for annual leave is the same? I was told that the BRAC payout is taxed at a higher rate. A. Both are taxed at the same rate. The IRS considers lump-sum payments to be regular income, with deductions being taken out for federal taxes and, where applicable, state taxes and Social Security.
Q: I plan on retiring on Jan. 1, 2011. I am eligible to retire on Oct. 1, 2010. I am a Civil Service Retirement System Offset employee. I will have 30 years, 3 months of civil service and will be 60 years, 3 months of age. I have 240 hours of use-or-lose annual leave, and I will also have gained another 200 hours for the year. If I retire on Jan. 1, 2011, can I receive payment for my unused annual leave? I believe by doing this, I will receive a large lump sum payment and won’t be taxed until…
Q. I plan on retiring on the close of business, Friday, Dec. 31,2010. I am a FERS employee. Since that day is the New Year holiday, I will have completed my 80-hour work week. But I will retire prior to the end of the leave period, which is Saturday. Will I accrue the eight hours of annual leave and the four hours of sick leave for that pay period, or will I forfeit it because I did not remain an employee for the entire pay period? A: According to OPM, you only need to complete your 80-hour work week to…