Q. About two years ago, a bill was submitted to allow credit of unused annual leave to FERS. Has this bill passed in any form to date? Has this been implemented to date? If so, how does one pursue this? A. Yes, a law was passed that allowed FERS employees to get credit for accrued and unused annual leave in the computation of their retirement annuities. However, the law only granted half credit to anyone retiring before Jan. 1, 2014. Anyone retiring after Dec. 31, 2013, will get full credit.
Browsing: unused annual leave
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. If I retire Jan. 3, will I lose any leave above the 240 hours I have accumulated? Also, since I’m a CSRS employee, if I retire Jan. 3, will I receive my annuity check on the first of each month? Are the two days left on my service computation date considered annual leave for me to take, or do they just go away? A. Since the leave year doesn’t end until Jan. 13, you’ll receive a lump-sum payment for all your unused annual leave. Because you are a CSRS employee, you can retire up to the third day of…
Q. If I retire Jan. 3, will I lose any leave above the 240 hours I have accumulated? Also, since I’m a CSRS employee, if I retire Jan. 3, will I receive my annuity check on the first of each month? Are the two days left on my service computation date considered annual leave for me to take, or do they just go away? A. Since the leave year doesn’t end until Jan. 13, you’ll receive a lump-sum payment for all your unused annual leave. Because you are a CSRS employee, you can retire up to the third day of…
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. When I retire Dec. 29 and receive a check for my unused annual leave in 2013, will those funds be taxable in 2012 or 2013? A. It will be taxable in the year it is received.
Q. I work at Social Security. I was going to retire on Dec. 28, the end of the pay year. But I recently found out the leave year ends Jan. 12, 2013. I will retire with more than 30 days of accumulated annual leave. If I retire Jan. 3, 2013, I understand my pension will be reduced about 1/10, but I can be paid for four days of work, which is much higher than the reduction I will take in my pension. This only makes sense if I can get paid for all of my accumulated annual leave (about 45…
Q. I retired from FERS on Dec. 31, 2006, and returned to work on May 10, 2009. I am receiving both my salary and my full annuity. Both Medicare and Social Security are being deducted from my paychecks, which is fine. I am receiving my full entitlements from Medicare and Social Security. I am 70 years old. Will my benefits be re-evaluated when I return to retirement status, which will be on or around May 10, 2014? Also, as a retired annuitant, will my sick leave be adjusted to my time in service, and will I be able to draw…
Q. I am a CSRS fed, planning on retiring at the end of 2012. Is there any difference in benefits leaving either Dec. 31, 2012, or Jan 2, 2013? I know that if I retire Dec. 31, my cost-of-living adjustment in January 2013 will be 11/12 of the consumer price index. If I retire Jan. 2, 2013, won’t my January 2013 CPI also be 11/12? In both cases, won’t my annuity begin in January 2013? I’m also planning on cashing in my annual leave and wanted the lump sum applied to the 2013 tax year. I believe either date would…
Q. I have heard that, upon retiring, there is a 24-hour limit on selling back credit hours, and one could accumulate about 448 hours of unused annual leave, if done exquisitely; and that religious comp time may not be sold back. What about travel comp time? May that be sold back? Is there a cap? A. Compensatory time off for travel is forfeited: * If not used by the end of the 26th pay period after the pay period during which it was earned; * Upon voluntary transfer to another agency; * Upon movement to a noncovered position; or *…