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FERS Sick Leave Changes Dropped in Senate Bill: What Impact Should This Have on Your Retirement?
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Hanging on to hope
USDA
Fri Jun 12, 2009 9:27 AM
Post Reply
I personally will be happy when this "round" of Federal Whiners . . .
- the ones who want EVERYTHING they can get from Uncle Sam,
- the ones who are whining about they should get paid out the SL.
- The ones who have "headaches" so they can use up the last part of their SL before the retirement
. . have retired. Goodbye and enjoy your retirement. Just make the decision and do it instead of trying to take advantage of every possible thing. Your federal career was good to you and you made it what it is.
FERS SICK LEAVE
DoD, U.S. MARINE CORPS
Fri Jun 12, 2009 9:31 AM
Post Reply
For me, I never expected anything from the government except a job, while I will retire with nearly 2000 hours of sick leave, I can only thank God that I have had to use it only sparingly. If there is another perk, perhaps a cash payout for unused sick leave we all are entitled to a payout for annual.
FERS Sick Leave
USBR
Fri Jun 12, 2009 10:18 AM
Post Reply
What is the average hours of sick leave accumulated per year of service for CSRS and FERS employees? Do most of the requests for voluntary transfer of leave come from FERS employees? I know of CSRS employees that will take AL instead of SL to build up their SL hours. FERS employees that have used most of their sick leave at retirement are better off than a CSRS employee with a large bank of hours - they not only got paid for the SL hours used, it counted as time in service.
2 Cents Worth
US Forest Service
Fri Jun 12, 2009 12:38 PM
Post Reply
Many employees come into the office with the cold or flu who should take sick leave but are saving it (CSRS) because it adds to their retirement. If you have something that can make someone else sick please use your sick leave.
From the time I started approximately 27 years ago, I have been saving my sick leave, except for when I was sick as mentioned above. I have had a bad back since highschool and have known that some day I might be laid up for an extended time. That hasn't happened yet, but: 1) 5 yrs ago I lost my dad and sister in one year and 2) 2 yrs ago my 14 year old son was diagnosed with a serious illness and has been in and out of the hospital numerous times since.
Because of the Family Friendly leave act and because I have had a large bank of hours, I have been able to take off and handle these crisis without worrying about whether I would have a pay check or not.
Whether we get credit for SL is minor. Thank god for your health and that of your family.
What about FERS Refund Redeposit?
Dept of the Navy
Fri Jun 12, 2009 2:09 PM
Post Reply
H.R. 1256 had a Section 115 "Authority to Deposit Refunds Under FERS" (formerly known over many years as the "FERS Redeposit Act"). It appears that Sec 115 is also now missing from the final Senate version. Can anyone tell me whether I'm interpreting this correctly or not; i.e. is the Sec 115 issue DOA again? I have 9.5 years prior service credit that I dearly want to buy back (as any CSRS employee would be able to). Have my hopes been dashed again?
CSRS/FERS
IRS
Fri Jun 12, 2009 2:23 PM
Post Reply
I was responsible for training employees regarding FERS and their options prior to FERS implementation. In fact, I
would have earned a larger annuity had I converted from CSRS to FERS, so those who argue that CSRS always provides a larger pension are simply wrong. I did not convert because I had concerns about Congressional interference with promised benefits. Specifically, given Congress's "borrowing" from Social Security funds without repayment, I was concerned about the viability of Social Security when I reach retirement age. In addition, I thought the Thrift Savings Plan to which I conftribute withouit matching too tempting a plum for Congress to leave alone. Given that Congress has frozen the funds several times and despite its retroactive payment of interest, I still find it disconcerting that it has not left the fund alone and then asserted that no harm has been done. I made an infomed choice for security of my pension, rather than expectation of a financial gain
CSRS/FERS Continued
IRS
Fri Jun 12, 2009 2:37 PM
Post Reply
Although I dispute the categorization of employees as whiners, note that it comes from an executive whose compensation and benefits are superior to the average employees, and question how one can direct or lead subordinates whom one holds in such low regard, I think it incumbent on all Federal employees to exploit to their advantage the respective benefits of their plans which are now superior to many offered in the private sector. Most CSRS employees do not accumulate sufficient sick leave to derive any significant benefit in their pension and have willingly foregone matching for the security of a defined benefit pension. Most FERS employees will also not accrue enough unused sick leave to make a difference and, instead, should be maximizing their contributions to the Thrift Savings Plan
with the funds that would have been deducted for a defined benefit CSRS pension. Educating oneself about one's benefits is the best way to ensure a decent retirement.