Q. What are the advantages and disadvantages of retiring Dec. 29, at the end of the pay period versus staying until Jan. 3, 2013? A. If you are a CSRS employee, you’d gain four additional days of pay and lose three days in your January annuity payment. If you are a FERS employee, you’d gain the same four days of pay but you wouldn’t be on the annuity roll until February. Whether you were covered by CSRS or FERS, you wouldn’t earn any additional sick or annual leave by staying until Jan. 3.
Browsing: pay period
Q. Since we have 27 pay periods in 2012, ending Jan. 12, 2013, do I receive an extra eight hours of annual leave, since annual leave is based on 26 pay days. I receive eight hours per pay period, which normally gives me 208 hours per year. Do I receive an additional eight hours? A. Yes.
Q. I will have 15 years of federal service on Dec. 7, and have been looking forward to accruing eight hours of leave per pay period. Because my service computation date falls in the middle of a pay period, I am expecting to have to wait to start accruing my eight hours during the next full pay period starting Dec. 16. Because my SCD is so late in the calendar year, I am starting to feel like I won’t really benefit from my accrual “upgrade” until two full pay periods later. Here’s my logic: If I remained (hypothetically) at six hours per…
Q. I’m considering retiring on July 3, 2013. My current and projected sick leave balance is as follows: Currently as of pay period 14 = 2,320.45 End of this calendar year projection = 2,372.45 Projected amount as of June 29, 2013 = 2,428.45 (last pay period before retirement) If you apply the Office of Personnel Management’s sick leave conversion to the 2,428.45 sick leave hours at the time of my probable retirement (July 3, 2013), the conversion table states that I’ll be one hour or .55 hours shy of having one year and two months of sick leave applied to…
Q. If you retire in the middle of a pay period, do you get credit for four hours of annual leave, or do you have to work the full pay period to get any credit for annual leave? A. You have to complete a pay period to get credit for annual and sick leave.
Q. I am under FERS. I turn 65 on Nov. 20 and will have completed 12 years and one month as a federal civilian. My service computation date is Oct. 10, 2000. Is it possible for me to retire effective Nov. 28, or do I have to wait until the end of the pay period? I will have over 300 hours of annual leave to sell back on Nov. 28. Because my hourly pay is $69, will that $20,700 affect the annual limit from Social Security limit in 2013? I will be applying for Social Security starting on my 65th…
Q. I work compressed schedules, 12-hour shifts. If I have already completed my 80-hour requirement by mid-pay period, can I out-process early and still make my retirement effective at the end of the pay period, which is Saturday at midnight for shift workers? A. Your retirement date is the last day you are on the employment rolls. It’s the day you separate from the service. If you want, you can retire when you have completed your final 80 hours of duty or you can wait until the end of the pay period. Whether you can complete the process before the…
Scenario 1: I am considering retiring on Dec. 31, 2013, which is in the middle of a pay period. Can a person retire in the middle of a pay period? Scenario 2: What if I decide to retire at the end of the pay period (Jan. 4, 2014) instead? This way, I could collect my full sick leave, which goes into effect on Jan. 1, 2014. My concern is that I could still receive my first retirement check for the month of January and all my 2013 accrued vacation time as though I retired Dec. 31, 2012. Or will I…
Q. In reference to your response on July 6 regarding retiring under CSRS at the end of a pay period to receive credit for annual and sick leave for the last pay period, I am on a 5/4-9 alternate leave schedule with the second Friday of the pay period as my regular day off. Since I complete 80 hours on the second Thursday of each pay period, would I receive full sick and annual leave credit for the last pay period if I retired at the end of the day on the second Thursday (on May 3, 2012, or May…
Q: I am an employee under the Civil Service Retirement System, 6C, facing mandatory retirement the second week of January 2012. I anticipate finishing 2011 with 448 hours of annual leave on the books. Jan. 1, 2 and 3 would be the ideal retirement dates. In 2011, Pay Period 26 ends on the last day of the year. I’m now looking at Dec. 31, a Saturday, as the retirement date on the paperwork in order to receive the full annual leave 448-hour lump-sum payment. Do you see any problem with that date given the information provided? Additionally, I would imagine…