Early retirement, unused sick leave and SRS

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Q. I am 50-year-old FERS employee with 28 years of service. If I am offered an early-out and take it, what would happen to my 578 hours of sick leave? Would I still be entitled to get credit for my unused sick leave? Also, would I be eligible for special retirement supplement?

A. If you retire before Jan. 1, 2014, you’ll only get half credit for your unused sick leave in the computation of your annuity. If you retire on or after Jan. 1, you’ll get full credit for it. As for the special retirement supplement, you’ll be entitled to receive it when you reach your minimum retirement age, which in your case is 56.

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Reg Jones was head of retirement and insurance policy at the Office of Personnel Management. Email your retirement-related questions to fedexperts@federaltimes.com.

2 Comments

  1. fed laws on payment of unused sick leave.
    resident of Arkansas. school is closing custodial dept.
    school will only pay 40% of each day being sold. is this legal

    • We are only qualified to answer questions about federal employee benefits. Since federal employee sick leave hours have no cash value, you’ll have to check with your state’s personnel office to find out if there any rules governing the cashing out of your sick leave.

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