Q. I am a CSRS employee looking to retire this year. If I were to elect July 3 as my retirement date, would I receive payment for the July 4 holiday since I was in a pay status the day before the holiday? A. If you retired at close of business July 3, you’d be on the annuity roll July 4. Since you would no longer be an employee, you wouldn’t be paid for any day after the 3rd. The fact that the 4th is a holiday is irrelevant.
Browsing: retirement date
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…
Q. I am 59 and a CSRS Offset employee with 33+ years of CSRS coverage and am at the top of the GS-15 payscale. About 21 of those years were under CSRS Offset, so I know the deduction will be somewhere around 52.5 percent of my Social Security earnings. I am exempt from windfall elimination provision because of more than 30 years of Social Security coverage. I am concerned that if I retire Jan. 3, 2014, my final paycheck and my lump sum for leave will add another year to my number of years covered by Social Security and raise…
Q. I am planning to retire the month after I receive a step increase. Will this increase be factored into my high-3 for retirement annuity purposes, or must I extend my retirement date to take advantage of this? If so, for how long? A. Yes, it will be included. However, since you high-3 is made up of 78 biweekly pay periods, the impact it will have on your annuity depends on how long you are receiving it. If you only received the increase for one pay period, its effect on your annuity would be marginal at best.
Q. I am a CSRS employee and plan on retiring Sept. 1. I believe if you retire the last day of the month or the first two days of the next month, you will receive your first retirement check at the end of that month. Sept. 2 is Labor Day. Is there a benefit to making my retirement date Sept. 2? All three days — Aug. 31, Sept. 1 and Sept. 2 are nonworking days for me. A. Because you are a CSRS employee, you can retire up to the third day of any month and be on the annuity…
Q. When is the last day of 2013 that I can retire and get a lump-sum payment for unused annual and sick leave? A. Assuming that you are talking about retiring at the end of the 2012 leave year, the answer is Jan. 12, 2013.
Q. I plan on retiring in 2013 under FERS immediate annuity under the 30-year/minimum retirement age with no penalty for age. I am FERS code 8, and my annuity computation date and retirement computation date are both Feb. 8, 1983. 1. Is the earliest date that I can retire on to give me 30 years Feb. 8, 2013? 2. My 30 years will consist of FERS employment, “bought back” military time and “bought back” (via a redeposit) CSRS time. Will I qualify to receive the FERS annuity supplement even though I will not have 30 years of FERS-only time? Can…
Q. I am in CSRS and plan to retire at 4:30 pm. May 3. I will have my 80 hours in by that time. My three questions: 1. Do I enter the date May 3, 2013, in Block B Question 2 of the retirement form (SF-2801) as my “Final date of separation”? I think I read an article that there is a difference between a retirement date and the final date of separation. 2. Will I earn eight hours of annual leave for that pay period? 3. Will my annuity start on May 4, with my first check received in…
Q. I am a 61-year-old FERS employee with 26 years of service. Given the various proposed legislation to whittle down the deficit, would it any make any sense for me to retire before the end of year in an attempt to protect my benefits from any adverse proposed changes? A. Your best bet is to keep your eyes and ears open. Since most changes to benefits are prospective, it should give you enough time to decide what to do.
Q. I am contemplating retiring Dec. 31, Jan. 2 or Jan. 3. I am not sure how the CSRS annuity check is computed. Based on a full month? Or if I retire during the month, is it prorated, or is that month lost. 1. When does my CSRS pension start if I retire on Dec. 31? Do I receive an entire month’s (January 2013) pension check? When would I receive it? 2. If I retired on Jan. 2 or 3, when would I receive my annuity check? Is it prorated for January? 3. Also, since the leave year ends Jan.…