Browsing: pay period

Retirement date

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Q. I submitted a retirement application under CSRS because I have more than 30 years and am over age 55. I chose Aug. 31 as my retirement date because it is the last day of a month. I am aware it is not at the end of a pay period, so it isn’t as good as retiring on June 1 or 29, or Nov. 2 or 30. Would a retirement date of Sept. 3 be better than Aug. 31? It seems that I would be paid for the Labor Day holiday, and since I must have a duty day to…

Best date to retire

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Q. I am a CSRS employee who plans to retire this year. I will have a large annual leave buyback, so I want to leave before the end of the 2013 leave year. I read one article that advised to retire Dec. 28 (the start of new pay period) and others that relay Jan. 3, 2014. While I understand that the 3rd is the max to stay and get a retirement check the following month, i.e., February, am I correct that if you retire Dec. 28, you miss out on two full days of pay, i.e., the 30th and 31st?…

Best time to retire

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Q. I am a FERS employee who has 846 hours of sick leave as of Feb. 13. I will be 69 years old in June and have 24 years (including military time) at the Veterans Affairs Department. I would like to retire next January. I am a GS5-8. Is January the best time to retire? A. The best day to retire is the one that fits your physical, emotional and financial needs. In general, it ought to be at the end of a pay period, so you can get credit for any annual and sick leave you earned during those…

Dec. 31 or Jan. 11?

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Q. I’m planning on retiring at the end of the year. I’m not sure if I should retire Dec. 31, a Tuesday, which would be the first week of pay period #2, or wait until Jan. 11, the end of pay period #2. I will have 42 years, four months and five days of service as of Dec. 31. A. The difference is simple. If you retired Dec. 31, you’d receive one extra day of pay and be on the annuity roll in January. If you retired Jan. 11, 2014, you’d earn an additional two weeks pay, plus any annual…

Retirement date

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Q. Is Feb. 8, 2014, a good time to retire? I am a CSRS employee. I was looking at Dec. 28, 2013, but I am not sure about my sick leave. If I have 160 hours of sick leave on the books, will this count as an additional month added to my retirement? My goal is to have 33 years. For either date, when would I receive my first retirement check? A. Typically, a good day to retire is one that is at the end of a pay period (to get credit for any annual and sick leave earned during…

Retirement date

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Q. I am a CSRS employee, and I already qualify for an immediate retirement. I plan to retire on May 3 at 4:30 p.m. On the retirement application (SF 2801) under Section B, block 2 is called “date of final separation.” I entered May 3 because it is at the end of a pay period. Will I receive eight hours of annual leave since my last work day is at the end of the pay period. Will my first retirement check come on June 1 since I retired during one of the first three days of a month? A. If…

High-3

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Q. I just retired under CSRS and my last day at work was Jan. 3. For purposes of the high-3, how is the three-year period defined? Three true calendar years? Three calendar years limited to 365 days each? A total of 1,095 calendar days (three 365-day periods)? My salaries were: 1/4/10 to 1/30/10 = $92,992 1/31/10 to 1/28/12 = $99,239 1/29/12 to 1/3/13 = $102,074 Specifically, Feb. 29, 2012, was a leap year’s extra day and, being at my highest salary, my working that day should benefit the high-3 figure. If Feb. 29, 2012, did not exist (or does not exist in the…

Retiring on last day of pay period

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Q. Is it true that to receive credit for annual leave and sick leave for the final pay period upon retiring, you must work all 14 days of the final pay period (and thus retire on the last day of the final pay period)? If you retire on the first to 13th day of a pay period, will you receive no annual leave or sick leave credit for the final pay period? A. To receive any credit for annual and sick leave earned during a pay period, you must complete your tour of duty during that pay period. For most…

Retiring on last day of pay period

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Q. Is it true that to receive credit for annual leave and sick leave for the final pay period upon retiring, you must work all 14 days of the final pay period (and thus retire on the last day of the final pay period)? If you retire on the first to 13th day of a pay period, will you receive no annual leave or sick leave credit for the final pay period? A. To receive any credit for annual and sick leave earned during a pay period, you must complete your tour of duty during that pay period. For most…

Retiring at the end of a pay period

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Q. If one has a Monday through Friday normal tour of duty, and retires on the Friday preceding the Saturday end of the pay period, does one get full credit for annual and sick leave for that last pay period worked? Or should one retire on the end of the pay period? In 2021, the end of the leave year is Saturday, Jan. 1 (based upon extrapolation of the Office of Personnel Management’s schedule of leave year ending dates), and in 2022, the end of the leave year is Saturday, Dec. 31. A. You are only required to complete your…

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