Browsing: Retirement date

Q. I am a FERS employee who is planning on retiring in December 2019. Since the last day in December is in the middle of a pay period, if I leave on 12/31/2019, would I need to use leave to “fill out” the rest of the pay period? A. No, you wouldn’t. Since only employees can use leave, you couldn’t “fill out” the rest of the pay period after you retired on Dec. 31.

Q. I’m a FERS employee who is planning to retire in December of this year. When is the best day to do that? A. Because you are a FERS employee, you’ll have to retire no later than the last day of a month to be on the annuity roll in the following month. If you retire at the end of business on Dec. 21, you’ll have satisfied that requirement and be entitled to any annual and sick leave you earned during that pay period. If you retire after that date but before Jan. 1, you wouldn’t have worked for a…

Q. I am planning to retire ASAP but am working out a few issues. I do not want the early retirement penalty (5/12 percent per month) to impact my retirement compensation so understanding how my military time rolls toward my retirement will dictate when I can retire. I will have 27 years of FERS service and four years of paid military time. I will have met my MRA of 57.6 yrs. Does my military credit count toward the 30 years required service time or does my military time only count toward my annuity computation? If it only counts toward the…

Q. What is the best date to retire? A. There is no best date to retire. However, here is some information may help you to make a decision: The last pay period in 2019 ends on Sat., Dec. 21. The last pay period in 2020 ends on Sat., Jan. 4. CSRS employees can retire up to the third day of any month and be on the annuity roll in that month. FERS employees must retire no later than the last day of a month to be on the annuity roll in the following month. Anyone retiring on a date other…

Q. What is the maximum amount of leave that I can cash-in (240hrs, 408hrs, 420hrs, 440hrs, etc.) when I retire with my federal position? The only reason I ask is my organization is stating no more than 240 hours! Does my installation have the right to dictate how much leave they are willing to pay out when I retire? If that is the case, then where is the federal bill or policy that discusses this? Is the guidance discussed in the Department of Defense appropriations bill? Bottom-line: My goal is to make sure that I have all the facts prior…

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