Browsing: Sick leave

Q. I am covered by FERS. At my minimum retirement age of 56, I will have 28 years of federal service and approximately one year’s worth of unused sick leave. My understanding is that if I retire at that point, my annuity will be reduced by 35 percent – 5 percent for every year I am under 62. Is there any way I can avoid this age reduction to my annuity other than: 1. Continuing in federal service until I am 58, at which point I will have 30 years of service without counting any unused sick leave, or 2.…

Q. I am a FERS employee and have more than 650 hours of annual leave and over 2,000 hours of sick leave. I am 58 years old with 28 years of FERS service this year. Would I be able to cash out my annual leave when I stop working at the end of this year if I deferred my retirement until age 60 so I would not get penalized by 5 percent a year for retiring before 30 years of service?

Q. I have read a number of articles noting the best dates to retire in 2014. For example, I have seen March 22 and Dec. 28. As a GS-13 FERS employee who will have about 32 years of service at age 61 as of Dec. 28, does it really make that much of a difference to wait until Dec. 28 versus March 22 (at which time I will already be 60) in terms of my FERS annuity? I have about 1,800 hours of sick leave, have been maximizing my Thrift Savings Plan contribution most of my career, and I was…

Q. I intend to retire from government civilian service at age 60 under MRA + 10. At the time of my retirement, I will have 15 years of service. Accordingly, as I understand it, I will be eligible to defer or postpone my retirement annuity until age 62, thereby bypassing the age reduction penalty. Would I lose any of my accumulated sick hours (currently 1,200 hours) under either the deferred or postponed retirement programs?

Q. I have no plans to retire until I reach my MRA+30. I will reach my minimum retirement age in 2017. I will not have 30 years until July 2, 2019, by which point I plan to have about 1,300 hours of sick leave. Can I retire around Jan. 1, 2019, and have my unused my sick leave to calculate out to 30 years of service with no penalty?

Q. I am 61 years old. I will have 30 years with the Postal Service on April 9. I have 735 hours of unused sick leave on the books. I am on workers’ compensation, still a USPS employee and on leave without pay. Can I retire (NOT disability retirement) right now and use my unused sick leave hours to reach to my full 30-year retirement date of April 9?

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