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Should You Use Your Sick Leave or Save It For The Potential of a Higher Annuity?
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Sick Leave Use/Misuse
Rural Housing Service
Thu Dec 11, 2008 10:03 AM
Post Reply
I think Ralph Smith hit the nail right on the head in his article on 12/11/08. If you're sick, use the sick leave, if you're not sick, don't use the sick leave. That's the best policy to adhere to whether or not the policy is changed.
Using or Saving Sick Leave - and Dec 26
Farm Service Agency
Thu Dec 11, 2008 10:05 AM
Post Reply
Generally, taking the sick leave under either CSRS or FERS is the better dollar and money proposition always. You are paid full salary for every hour of leave and you are given the time in service while in leave. Having said this, if you already have trouble taking your time off, saving sick leave (which has no cap), could pay off for the future.
Again, in general, the employee is ALWAYS better off money wise having taken every hour of paid sick leave during the career. It is a ruse that it costs the Govt money to allow the time to count. To the contrary, the Govt is WAY ahead when employees do not take time off with full salary. ALWAYS.
Bottom line, regardless what Congress decides, take the sick leave either throughout the career or near the end. If something does not change, FERS employees will come down with a long list of maladies close to retirement year.
Sick Leave for Retirement
US Army
Thu Dec 11, 2008 10:11 AM
Post Reply
I was trying to figure out how it would work out financially. If your high three is $60,000, an additional year of retirement credit would increase your before deductions annuity by 1% or 1.1%, either $600 or $660 a year or $50 a month. I currently have about 8 months of sick leave banked, which would give me an extra $35 a month. It's not enough to get worked up about, but I don't know many that would turn down $35 a month for life. It would be like having an additional $10,000 invested at 4% a year and taking the income, but not the capital.
Unused sick leave after leaving federal service
US Attorneys office (before leaving federal service)
Thu Dec 11, 2008 10:18 AM
Post Reply
If passed, will the legislation apply to former workers who have left federal service before retirement?
FERS & Sick Leave
US Air Force
Thu Dec 11, 2008 10:22 AM
Post Reply
I too am saving my sick leave hours for any unforeseen illness/es.
When I do retire I hope there will be another law passed giving me the OPTION to DONATE my UNUSED
SICK LEAVE HOURS to a SICK LV BANK or take X amount toward my annuity and donate X amount to a SICK LEAVE BANK.
What happens to my unused sick leave? Presently that $$$ that would have been paid to me just stays in the "BANK" and doesn't help others who unfortunately become ill and have used up their sick and annual leave.
Sure there is the Annual Donation Bank set up but I want to use my accrued annual leave time.
I don't want my accrued SICK HOURS to go to a BANK IN THE SKY and be wasted!!!!!
Robbie Sheehy
Sheppard AFB, TX
S/L Sould be Managed Wisely!
DOI
Thu Dec 11, 2008 10:23 AM
Post Reply
Most employers treat sick leave like vacation days, you earn a certain amount each year, and if you don't use it, at the end of the year any unused disappears.
The fact that Federal Employees can carry over 240 hours of A/L and an indefinite amount of S/L to me is a HUGE benefit that should not be abused, but managed wisely. As others have stated use S/L when you need to, but in my opinion it's foolish to squander it.
I worked for the Federal Government 7 years in the 1970's then was self employed from 1980-1988, and returned to work for the Federal Government just over 20 years ago as a CSRS-Offset, but quickly switched to FERS to get the matching 5% in TSP.
When I was self employed I checked into income replacement insurance, and it is VERY expensive. My 2000 hours of S/L is like having over a full year of guaranteed income replacement insurance, without having to pay the costly premium. So to manage one's S/L balance wisely is the prudent thing to do!
using sick leave
EPA
Thu Dec 11, 2008 10:25 AM
Post Reply
Sick leave should only be used when one is genuinely ill or at a medical appointment. This is basically an insurance program in the event an employee faces a long illness. Nobody should be using sick leave arbitrarily.
Re: using sick leave
Farm Service Agency
Thu Dec 11, 2008 3:24 PM
Re: using sick leave
DoD
Fri Dec 12, 2008 12:14 PM