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When Is Your Ideal Retirement Date in 2009?

Wages for Roth IRA?

CSRS Retired
DA
Tue Apr 14, 2009 1:28 PM

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My best date for CSRS retirement in 2009 was Jan 2 and I also cashed in 568 hours of AL (360 + 208). Will I get a W2 or a 1099 for that income received in 2009? Are those funds considered wages and can they be used to fund a Roth IRA?

Best day to retire

Postmaster
United States Postal Service
Tue Apr 14, 2009 3:57 PM

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With a hire date of late March, I've always said the best day to retire would be April 1st, of whatever year.....

Excellent article

Inventory Specialist
Dept. of Defense
Wed Apr 15, 2009 10:11 AM

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With so many people retiring, this type article would provide great benefit to all and would be appreciated this time of year, every year.

GETTING PAID FOR COMP TIME ON RETIREMENT

Senior Project Manager
Nuclear Regulatory Commission
Thu Apr 16, 2009 10:50 AM

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This article states "The balance could be more if it includes restored leave, “BRAC leave”, compensatory time or credit hours." According to our HR staff any compensatory time (regular or travel) is forfieted on retirement and you will not get paid for any on the books. I was told the only things I would be compensated for were annual leave and credit hours.

Best Day to Retire

Technical Advisor
IRS
Fri Apr 17, 2009 7:27 AM

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I plan to retire on July 3. 2009. Is this the best day for me? I am a CSRS employee.

Re: Best Day to Retire

Fed
Gov
Fri Apr 17, 2009 8:58 AM
Yes - I believe that would be the best day for you because it is the third day of July 2009. I also believe the ninth day of October would be a good day. My sources also say the fifteenth day of 2013 would be a good day because the moon will be in an inverted elliptical magnetic solar phase.

Re: Best Day to Retire

Specialist
Federal Agency
Tue Apr 28, 2009 10:27 AM
It is for me! It's my new Independence Day!

Retiring on 1/1/2010

Team Manager
IRS
Fri Apr 17, 2009 8:09 AM

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There seems to be some confusion as to whether or not you can retire on a holiday and get paid for that day. If a CERS employee is retiring at the end of 2009, would it be more prudent to retire on 1/2/2010 to ensure that 8 hours annual leave is credited for the last pay period and employee is paid for 1/1/2010.What do the actual time and attendance regulations state as the rule for this situation?

Income Taxes vs. ideal retirement date

ASI
FAA
Mon Apr 20, 2009 8:11 AM

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If you receive all this money in 2009, won't your taxes be substantially higher, than if you were to retire January 31, 2010, when your lower total income would be much lower and therefore a much lower tax owed?

Has anyone calculated this "offset"?

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