Browsing: Annual leave

Q. I’m retiring with four months of sick leave, bringing my total time in FERS to 32 years, 1 month at age 65. In the interest of increasing final annuity, I have been using annual leave, rather than sick leave, for medical appointments and when ill. In retrospect, it seems I did not accomplish much, and that using sick leave as intended and preserving annual leave to increase lump sum payout might have been a better strategy. Correct? A. Maybe, maybe not. There are too many variables. While unused annual leave will be paid out at the hourly rate you…

Q. I’m a FERS employee who is thinking of retiring and wondering if there is anything that precludes me from retiring one day and coming back to work as a federal employee the next? A. If you met the age and service requirements to retire on an immediate annuity, your annuity would continue; however, the salary of your new position would be offset by the amount of that annuity. Further, any lump-sum payment for unused annual leave you received would have to be returned to your former agency. Note: If you received a buyout payment, that money would also have…

Q. I am 46 and have 25½ years of service. If I accept an offer of an early retirement, do I have to wait until I reach my minimum retirement age to start receiving my annuity? Also, will my payment for unused annual leave hours be included in my last paycheck? A. Anyone who has at least 25 years of service can retire at any age if offered an early retirement opportunity. However, you wouldn’t receive the special retirement supplement until you reach your minimum retirement age. (MRAs range between 55 and 57, depending on your year of birth.) You’ll…

Q. Is there any ruling that a current federal employer can use to allow me to carry over more than 240 hours of annual leave? A. No there isn’t. However, an agency can restore annual leave in excess of the annual limit under certain circumstances. For example, if it was schedule in writing before the start of the third biweekly pay period prior to the end of the leave year but could not be taken because of illness or the agency’s need for him or her to stay on the job.

Q. I would like to know if the service computation date changes immediately once I begin buying back my time or once I payoff the time? The other question I have is about leave accrual. I know some folks that have begun paying back their deposit and they have had their SCD adjusted plus they also start accumulating leave at the SCD adjustment rate.

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