Q. I will be retiring Jan. 31 from the Postal Service, taking advantage of the incentive offer that requires that date as your retirement date. Jan. 31 is a Thursday and a regular workday for me. Do I report for work that day? If that is the case, isn’t my effective retirement date Feb 1? Essentially, is Jan. 31 my last day that I will be at work, or is Jan. 31 my first day of not going to work? A. You will be retiring at the close of business on Jan. 31. You’ll be on the annuity roll Feb.…
Browsing: retirement date
Q. If I’m retiring under CSRS with a date of Jan. 3, 2013, would it be advisable to change to Dec. 31, 2012, to avoid the possibility of a change from high-3 to high-5? A. If a change is made, it would likely be prospective. Nevertheless, keep your antenna up and be ready to change your plans if things take a turn for the worse.
Q. When is the last day of 2012 that I can retire and get a lump-sum payment for unused annual leave? A. December 31. However, since the 2012 leave year doesn’t end until Jan. 12, 2013, you could retire as late as that and receive a lump-sum payment for all of your unused annual leave.
Q. I am a federal employee with the Department of Justice in Oklahoma City. I am planning on retiring the end of this year, after 21 years and seven months. I contacted human resources in Washington, D.C., and asked for an estimate of my pension. I also asked for the best date to retire, and was told Dec. 28, as it is the end of the 26th pay period. This year, there are 27 pay periods and I just wondered if the date I was given was the best, as I have heard that it’s best to retire at the…
Q. I am a CSRS fed, planning on retiring at the end of 2012. I am debating either Dec. 31, 2012, or Jan 4, 2013. What is the effect of each date on my January 2014 cost-of-living adjustment. I know that if I retire Dec. 31, my COLA in January 2014 will be 11/12 of the consumer price index. If I retire Jan. 4, 2013, will my January 2014 CPI be 11/12 or 10/12 of the CPI? A. If you retire Dec. 31, you’ll be on the annuity roll in January 2013 and receive 11/12ths of the 2014 cost-of-living adjustment.…
Q. I am an Air Reserve technician with 32 years civil service. I will turn 55 on July 10. I resigned from my civil service position effective the pay period ending July 14. I have, however, vacated the position effective June 22 and used various leave statuses to get me through July 14. Per FERS rules, I was planning to submit my request for federal civil service retirement 60 days prior to my 56th birthday in July 2013. In addition, I submitted my military retirement for Dec. 31, 2012 (I was required to submit a date six months in advance…
Q. I am considering retiring Dec. 31. I turned 62 on April 7, and as of Aug. 28, I will have 42 years and four months of total service. Scenario 1: What if I decide wait until Jan. 2, 2013, to retire instead? Would I get full credit for any unused annual or sick leave I would have accrued if I stayed to the new year? Scenario 2: Will the excess retirement dollars from September 2012 to Dec. 31 (date of retirement) equate to any percentage of annuity or lump-sum payment after I retire? A. You’ll have to check with…
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…
Q. I am CSRS, turned 61 years old in September, and have 40 years of unbroken service. I’ve tentatively selected June 2012, as my retirement month but would appreciate information on the most opportune day (or an alternate month if that’s more beneficial). A. All I can suggest is that you pick a date that 1) falls at the end of a pay period and 2) is as close to the end of the month as possible. By retiring at the end of a pay period, you will get credit for any annual and sick leave you earned during that…
Q. I am a federal employee under CSRS with 36 years of service. I’m thinking about retiring the end of this year. Is there any advantage to retiring on Saturday, Dec. 31, which is the beginning of the pay period versus Tuesday, Jan. 3, after the New Year holiday? A. Saturday, Dec. 31, is the end of a pay period, not the beginning. If you retired then, you’ll receive a lum-sum payment for any unused annual leave you had to your credit. If you retired after that, any unused leave that exceeded the limit (usually 240 hours) would be lost. That’s…