E-LEarning Producer Veterans Affairs Tue Dec 18, 2007 9:15 AM
You make it sound like everyone who retires gets a bonus 200 or 208 hours of AL if they retire at the beginning of January. You might want to clarify that you only get that 208 hours if you haven't used it during the preceeding year......or am I wrong and they will give me a bonus 208 hours just because I'm retiring??? I didn't realize Uncle Sam was that generous.... ; )
Re: Lump Sum payment
Human Resources Specialist Air Force Tue Dec 18, 2007 9:49 AM
Since many of us are now under the National Security Personnel System - suggest you consider that in your response. It is my understanding that we don't receive the payout if we retire before the beginning of the first full pay period in January SO we decide whether to have a larger use or lose balance for payout or increased salary for the leave payout.
Re: Lump Sum payment
Scientist DOD Wed Dec 19, 2007 6:26 AM
HR Specialist,
That is not what I understood was the problem with NSPS. The problem is with pay out that is bonus. Most people receive bonuses soon after the paperwork is processed. It is my understanding that NSPS bonuses are all paid in February of the next year after the award decision. This means that if you retire in Dec., you won't get your bonus. If you retire in Feb., you lose your prior years loose or use balance of AL.
So, as opposed to the non-DOD workforce, your pay out is reduced in one of the other way. Usually the bonus is less than the one year of unused AL but you need to consider your own case. For example someone formerly GS-13, Step 10 in DC might get an 8% paid out entirely as a bonus since they are ineligible for pay raises if the band doesn't change. That would be over $8,000 dollars or about 160 hours worth of pay. If you use half of your AL in that last year and earn 8 hr. AL per pay period, you have 104 hours of pay out for AL. This example - Feb. retire.
Re: Lump Sum payment
Contract Specialist DoD Mon Feb 11, 2008 10:15 AM
Scientist DoD wrote "For example someone formerly GS-13, Step 10 in DC might get an 8% paid out entirely as a bonus since they are ineligible for pay raises if the band doesn't change. That would be over $8,000 dollars or about 160 hours worth of pay."
This is extremely unlikely to happen, though. In my agency, in order to get the full pay increase for 2008, we had to achieve a 4 rating. I am the equivalent of a GS-13, step 10, and my 4 rating got me enough money to keep me at the top of the YA-2 pay band and a bonus of $2,700. I don't know anyone who got anything close to $8,000.
NSPS is a joke. I am glad I am eligible to retire now.
This article
Supervisor VA Medical Center Tue Dec 18, 2007 10:32 AM
This article is supposedly to give the best retirement dates for 2008.......but you will note, the only dates
actually shown are....December 31, 2008 and and
January 2009......There are a few other months
inbetween.
Re: This article
lr manager Dod Agency Tue Dec 18, 2007 10:40 AM
I think the article made clear that many people choose to retire toward the end of the year and those are the best dates for many or most people. Did you want one choice a week?
Best time to retire.
Retired NCUA Tue Dec 18, 2007 10:42 AM
Another often overlooked item, is that if you plan to work after federal retirement and plan on depositing to an IRA, it will not be allowed for a year in which you receive pay for even one day under federal retirement coverage.
Re: Best time to retire.
engineer Dod Tue Dec 18, 2007 1:41 PM
Can you cite a reference from IRS that explains this? I thought, for example, that the lump-sum annual leave payment counted as earned income and could therefore be used to make a Roth IRA deposit if one retired early in a pay year.
Re: Best time to retire.
Eligible to Retire Navy Mon Jan 28, 2008 6:11 AM
Can anyone clarify something for me? Looking at the calendar, it appears that 2009 may be the last year for quite some time that I can take advantage of retiring at the beginning of a calendar year, but within the last pay period of the previous year in order to get the January increase in my leave payout. Does anyone have any insight on this? I'm one of the CSRS dinosaurs.
Re: Best time to retire.
EE Spawar Thu Feb 7, 2008 12:05 PM
Mr. Eligible to Retire,
I don't think they will end a leave year before New Year's Day. In the past, I have seen an occasional 27 pay period year. Which means that sometime soon they will shift it back again. 2010 will have New Year's Day on a Friday and 2011 will have Jan 1 on a Saturday. Whether or not you can retire on a holiday or Saturday, I'm not sure. But by 2012, we should have a 27 pay period year and then Jan 14 (Saturday) will be end of that leave year.
Postponing annuity in FERS
Review Appraiser USDA Forest Service Tue Dec 18, 2007 11:44 AM
I'll reach my minimum retirement age in May 2008 and would like to retire before I'm eligible for full retirement in Oct. 2011 (30 years). I turn 60 in July 2012. I've read that you can postpone taking your annuity in FERS to avoid the 5% reduction for each year under 62. I understand that I could begin my annuity at age 60 w/out the deduction. Is this correct? Would I also be able to start collecting the social security supplement at age 60 if I go this route? Thanks!
Re: Postponing annuity in FERS
Analyst USDA Wed Dec 19, 2007 2:26 PM
You can retire (FERS) at age 60 with at least 20 years of service. There would be no penalty and you qualify for a social security supplement.
Re: Postponing annuity in FERS
Analyst USDA Tue Mar 4, 2008 1:11 PM
If you leave before age 60, you do not get the supplement from social security. If you wait until age 60 to retire, with at least 20 years of service, you will get the supplement until you reach age 62. At age 62, you are entitled to get social security benefits.
Annual Leave Payout
Management Support Specialist Social Security Administration Tue Dec 18, 2007 3:16 PM
John-You make it seem like you receive a windfall if you retire Jan 3,2009.Example-I'm of retirement age and I am carrying over 240 this year.If I do not use any annual leave this year I earn another 208 hours so if I retire Jan 3 I would receive payment for 448 hours of unused annual leave.You imply that you receive another 208 hours-I don't believe this is true because we accrue leave pay period to pay period.I think the only way you can get the maximum payout is by foregoing all annual leave this year.I like your way better and always thought that since vacation is a benefit it should be totally accurred on the first day of the new year.
I think you should correct your statement-Thanks
Retirement dates
Rural Carrier United Stateas Postal Service Tue Dec 18, 2007 7:19 PM
I hope that you will run this column every year at least 4 months before the end of the year.
Retirement Date/NSPS
Manager Army Wed Dec 19, 2007 6:35 AM
A new wrinkle to consider with NSPS is that the payout occurs after the end of the leave year. Future retirees have to weigh whether it's better to save leave in the final year and get that pay out OR wait until Feb 3, forego the large Annual Leave payout so that they get whatever bonus they had earned in the previous year. NSPS payouts on average are about 75% higher than they would have been under TAPES. Almost makes the hassle of NSPS worthwhile, but the retirement trap isn't fair. The NSPS rating period and payout should be accelerated by 3 months
Best Date to Retire
Analyst USDA Wed Dec 19, 2007 6:48 AM
I am under FERS - for planning purposes, what is the best date to retire in 2010?
Re: Best Date to Retire
Aviation Safety Inspector FAA Wed Dec 19, 2007 1:10 PM
2010 is a great year for a FERS employee to retire. Your best date would be Dec. 31. The reason is that the leave year ends Jan. 1, and it also happens to be the end of pay period 1. Therefore the new year holiday is going to be Dec. 31. It is one of very few years in which a FERS employee can retire on Dec. 31 so as to receive the first retirement check on Feb. 1, and still get paid for the 2011 new year holiday. Don't think this will happen again in my life time.
article
public health analyst cdc Wed Dec 19, 2007 12:06 PM
If people wait until the Cubs win the world series to retire, I am afraid they will never retire. My wish is that they win the world series before I die, but alas, am wondering if that will happen. I will retire in 2 years!!
A Cubs fan...........
Accrued Annual Leave Pay Out
Retired Manager HHS Wed Dec 19, 2007 2:50 PM
Too bad that not all payroll processing groups are aware of the method of calculating the A/L payout that you correctly explain in your article, i.e., that the lump-sum payment is computed as if one had begun to take the leave on the first workday after retirement & used it until it expired, so that the bulk of the payout is computed at the new salary rate. I retired 1/3/06 with 440 hours of accrued A/L. When I got my payslip showing the accrued A/L payout, I quickly calculated it had all been computed at the '05 salary rate. I immediately contacted our payroll liaison in DC to get this corrected. I had to explain the correct calculation and send citations (and an article from Tammy Flanagan). Payroll explained that the problem was that DFAS (who had assumed responsibility from HHS for payroll in mid-05) did not agree that the calculation would consider any part of the new salary rate. I was ultimately told it had been worked out & I would be paid the amount due. I'm still waiting!
DOD PAY
DOD PAy Federal Gov Wed Dec 19, 2007 4:16 PM
I am doing a report on the balance of pay from DOD to Federal Gov from 1990 to 1995, just to compare the pay . Do anyone knows how I can get this information?
Best YEAR to retire
HR Specialist OPM Thu Dec 20, 2007 8:58 AM
I appreciate your point about the best day for CSRS employees to retire at the end of the CY 2008 leave year being Friday, 1/2/09. I could go then but am considering sticking it out for another year to help with mentoring and training "newbies" in our work unit. I've received contradictory advice / opinions on the issue of retiring instead at the end of the CY 2009 leave year. Friday, 1/1/10, is, of course, a holiday, and is the last day of being in a pay status during the CY 2009 leave year. If one retires on that holiday, i.e., 1/1/10, are there any negative consequences from the standpoint of being able to accrue leave for that final pay period in the leave year? If so, would it be remedied by retiring instead on Saturday, 1/2/10? As I said, staff opinions vary on this, and available information on the web isn't helpful. Thanks.
NSPS Lump Sum valuation
Employee DOD Sun Dec 23, 2007 8:30 AM
It was pointed out to those of us under the NSPS system that we will not get paid for Leave based on our Pay Raise starting Jan 6 2008, unless we are on the rolls on the effective date. We have a choice, take our 240+200 at present pay, or carry only 240 over and retire after Jan 6, which means Feb, Mar, etc.
Another way the Govt saves money.
Retirement Date
Human Resources Specialist Department of the Interior Sun Dec 23, 2007 12:06 PM
If you don't have the maximum annual leave carryover issue to deal with, i.e., 240 hours, then I think a good date to retire in 2008 is January 31st for FERS employees and February 1st for CSRS employees. The reason: you get a bump-up in your life insurance rate when the annual comparability raise is posted in January, some or all of which will be carried into retirement (depending on the option you choose). And your high 3-year average salary will be slightly higher because you will have the new pay comparability increase posted to your account for most of the month resulting in a slightly higher annuity.
January 2, 2009 As A Retirement Date
HR Specialist Department of Defense Thu Dec 27, 2007 4:37 PM
The article states that for CSRS employees whose workweek ends on January 2nd will find January 2, 2009 the best day to retire. I would appreciate clarification. January 2, 2009 is a Wednesday. First of all whose workweek in the Federal Service, GS or NSPS, ends on on Wednesday? And what does it matter whether the retirement date is the end of a workweek? For CSRS employees, the best time of the month to retire as I understand it is the first through the third of the month (no matter what day of the week it is or relationship to the end of the workweek) in order to get the first retirement check the following month rather than having to wait an additional month for the first check. I am planning on taking advantage of the "extra" leave carryover but this is the first time I have encountered the "end of the workweek" issue.
Re: January 2, 2009 As A Retirement Date
Aviation Safety Inspector FAA Thu Jan 10, 2008 3:50 PM
I think you need to take another look at your calendar.
January 2, 2008 is Wednesday.
January 2, 2009 is a Friday.
CSRS Retirement for 2010
Traffic Management Specialist Military Surface Deployment and Distribution Command (SDDC) Mon Jan 14, 2008 8:26 AM
I am retiring on September 30, 2010. I would like to know in regards to the above information provided what will I be facing. CSRS employees whose workweek ends on January 2nd will find January 2, 2009 the best day to retire. They will get paid for the New Years holiday and January 2nd and will receive a pro-rated annuity payment (on or about February 1st) for the remainder of January. CSRS (and CSRS Offset) retirees have the flexibility to retire up through the third of any month and still receive a prorated annuity.
how you get additional 208 and 200hrs addition
chemical engineer EPA Mon Jan 14, 2008 11:12 AM
"The 2008 leave year ends January 3, 2009, anyone retiring on that day (or on January 2nd, if their workweek were complete) would receive 208 additional hours. Someone retiring on December 31st or January 1st would receive 200 additional hours."
Could you please explain this? How do you get extra 208 and 200 hrs respectively?
Re: how you get additional 208 and 200hrs addition
District Ranger USDA Forest Service Wed Feb 6, 2008 3:48 PM
You don't. You carry over the 240 hours from the previous year and you "earn" 208 hours (8 hours per payperiod x 26 payperiods) for the last year of service (don't take any leave that year) and you will then be paid a lump sum for a total of 448 hours. But that is based on carrying over 240 and then not taking any vacation in the last year that you are employeed.
2010 Retirement
Systems Programmer SSA Tue Jan 15, 2008 6:41 AM
Wouldn't December 31 be the best day to retire in 2010 for either CSRS or FERS? You get holiday, lump sum in following year and full January retirement payout February 2011.
Best Day To Retire - FERS
TCO Sheppard AFB USAF Tue Jan 15, 2008 8:57 AM
Mr. Grobe,
Is the 31st of December EVERY year ALWAYS the best date for a FERS employee to retire? It seems as if it is. I just want to be 100% sure.
Under the 2005 BRAC, by 30 September 2011 (the latest date) the medical training workload transfer will/should be complete from Sheppard AFB.
How would it work if a FERS employee has to retire effective 30 September 2011?
Could that employee work somewhere else on the base for 3 months then be able to retire the 31st of December?
Could that employee take a 'terminal leave' and still be able to retire effective 31st of December 2011?
Thanks for your time.
Roberta F. Sheehy
Unused Sick Leave
Postmaster USPS Tue Jan 15, 2008 9:26 AM
I have 45 + years with the Postal Service and have accumulated 4000 Sick Leave Hours. How will I be compensated for this time when I retire (CSRS)?
Re: Unused Sick Leave
Rick Govt Wed Feb 6, 2008 4:05 PM
You will be given an additional 1.92 years towards your retirement annuity calculations. So instead of having 45 years of service you will retire with almost 47 years, which will give you more money in the long run.
Best retirement date for CSRS employees
Security Specialist Department of the Army Tue Jan 22, 2008 10:07 AM
I'm not sure I understand the fourth paragraph. I was always told if you were planning on retiring at the end of the year that you should wait for the new COLA to "kick in" to be considered as one of the "high three" pay rates. So, is it more advantageous to retire on 2 Jan 09 or wait until - say - 2 Feb 09? I will have 39 years and 9 months in by that time.
Thank you for your information!
FERS Annual Leave Payment
Systems Accountant Corps of Enginers Tue Jan 22, 2008 10:36 AM
I am a FERS employee and like to retire on 31 Dec 2008
or 31 January. If I retire on 31 Dec 2008 will my lump-sum annual leave payment reflect the pay raise for 2009? If we have not converted to NSPS by then?
Excess Leave
Probation Officer U. S. Probation Officer Wed Jan 23, 2008 8:03 AM
I'm scheduled to retire in March 2009. I carried over 240 hours annual leave from last year and I will earn 208 hours of leave this year. Since I will retire in March 2009, can I carry over more than 240 hours next year ?
Re: Excess Leave
Rick Govt Wed Feb 6, 2008 4:07 PM
Nope
Retirement
secretary/oa Veterans Hospital Wed Jan 30, 2008 10:49 AM
Thanks so much for the information on the best date to retire for FERS employees. I am 66 and have not decided exactly when to retire. I will have 20 years of service the end of May 2009 and would like to hold out until then BUT......
Best Date to Retire
Management Analyst Air force Wed Feb 6, 2008 1:53 PM
Good article, however, it did not address the middle of the year retirees. While I am not sure I want to stick around from April through December, I might if it is worthwhile. I am FERS and heard that sick leave might be reimbursed like annual leave in the future. Any more info on that from anyone out there?
Re: Best Date to Retire
Retired SSA Thu Feb 7, 2008 12:05 AM
See "Draft Bill Would Compensate Some Retiring Feds" in Headline Archives.
Best Retirement Date for 2010?
District Ranger USDA Forest Service Wed Feb 6, 2008 3:32 PM
After reading the above article, I am curious as to the best date to retire at the end of 2010. The last day of payperiod 26 is January 1st (saturday) and the first day of payperiod 1 is January 2nd (sunday), rarely does this ever happen. In this case, the work days of payperiod 26 does not go into January at all. So which is the better date for a CSRS employee to retire, December 31st, January 1st, or January 2nd. Should that employee actually work on saturday January 1st? Also would the 448 hours of annual leave still be allowed?
Re: Best Retirement Date for 2010?
Federal Employee Department of Justice Wed Feb 6, 2008 6:59 PM
The best date for 2010 is December 31st. I read that on this website awhile back. The holiday should be observed on December 31st. I hope to cash in 448 hours because that's the date I plan to retire on.
Entitlements at Retirement
Environmental Program Manager US Air Force Thu Feb 7, 2008 10:23 AM
I retired on 3 Jan 2008 under the CSRS and did not receive some of the entitlements listed in Mr. Grobe's article.
First, the lump sum leave payment was not computed at the new pay rate. Second, they also deducted for retirement , and health and life insurance. My last LES and pay check was received on 11 Jan 2008.
If the facts in this article are true why want the Air Force
refund me my money?
Thank you.
Garlnd Evans, Jr.
Re: Entitlements at Retirement
Staff FAA Mon Feb 11, 2008 10:49 AM
You were not taken care of properly. The only thing they should have taken out was tax (33% up front). You should have been payed at the new rate and no other deductions should ahve been taken out of the lump sum payout. Call your Congressman.
Don't forget about FERS Annuity Supplement
Human Resources Specialist Dept of Air Force Thu Feb 7, 2008 12:28 PM
Every year - Jan 1 through Dec 31 brings another year added on in the calculation of FERS annuity supplement. You must complete the full year which is another reason for FERS employee's to retire on Dec 31st if they qualify to receive a FERS annuity supplement.
Go to above site. It has an excellent calculator for the FERS annuity supplement, as well as eight other calculators for various Federal benefits.
Best day to retire in 2009
conservationist NRCS Fri Feb 8, 2008 11:53 AM
As a person planning to retire in the spring of 2009, I would appreciate information for best dates after early January. The information that Fedsmith provides is greatly appreciated. However, it would be more useful if you provide best dates 1-2 years in advance to help people with their retirement planning.
Retirement Dates for FERS employees
Rating Specialist VA Wed Feb 20, 2008 8:06 AM
If, at the time of their retirement from the Federal Gov't, a FERS employee will already be eligible for Social Security Retirement based upon age, do the Social Security annual earnings limits impact the date the FERS employee should retire on?
For example, if I turn 62 in May, and retire in June of that same year, have I already exceeded the Social Security annual income limits, thereby reducing my benefit for that calendar year. Do I instead need to retire from my gov't agency on the very last day of a calendar year to avoid that scenario?
Re: Retirement Dates for FERS employees
Health Scientist CDC Wed May 21, 2008 7:49 PM
There is an exception to the limit in the year in which you retire. Check with your financial planner
Higher Pay for Annual Leave after the COLA in 2009
pers sec spec CBP Wed Feb 20, 2008 8:50 AM
You failed to mention that if you wait until the 2009 COLA, you'll get paid for your annual leave at the higher rate.
This is correct, isn't it?
CSRS Retirement
Attorney Army Thu Feb 21, 2008 12:15 PM
I plan to retire on February 28,2009. I am at an installation that will closed pursuant to BRAC after that date. As a result I can accrue unlimited AL until I retire and be paid for it. With that in mind is the date I have chosen a good date?
1) It is the end of a pay period and month and
2) Presumably my NSPS payout will have been made by that time
FERS Retirement
Accountant DOJ Tue Mar 4, 2008 10:25 AM
Just to help me out, would you comment on what the best strategy would be for me. I became a FERS federal employee i n 1999, and paqid an allotment for 15 years of military service. I will reach my 60th birthday in January 2009, when I will begin drawing my Army Reserve retirement. My retirement computation date is December 1984. Should I plan to retire on December 31, 2008, or January 31, 2009 (after my 60th birthday) to take the FERS retirement without a rreduction?
Thank you
Retirement Benefits
Environmental Program Manager US Air Force Fri Mar 7, 2008 11:46 AM
Mr. Grobe,
You mentioned that insurance deductions should not be taken out of the lump sum annual leave payout. Does this include medicare? I am currently having a problem with DFAS because they deducted a large amount for this out of the leave payout.
Additionally, you should also advise future retires that they will encounter a long wait with OPM finalizing their application for benefits. Also, they should not expect to get the amount projected in the interim payment period.
I am currently getting about 33% of my salary before retirement.
Hope this will be good information to those considering retirement.
Best date to retire and first annuity payment
Registered Nurse Department of Veterans Affairs Thu Mar 13, 2008 10:43 AM
I plan to retire (under CSRS) on Jan 3, 2009. The HR adviser at my agency told me I will not get an annuity payment on or about Feb 1 (as your article states) but will have to wait up to 12 weeks for the first payment to arrive. She said I will have to make my last check (which will include my annual leave payment) last until then!
Who is correct?
Best time to retire in 2010
Internal Affairs Federal Officer DOE/NNSA Thu Mar 13, 2008 12:00 PM
I am a CSR employee with 32 years. I plan to accumulate as much Annual Leave in CY 2009 as possible and retire in early January 2010. What would be the best day? My email address is jlovato@doeal.gov.
Retirement
Airfield Supervisor Dept of Army Tue May 27, 2008 1:08 AM
I never see anyone mention that lump sum payments for annual leave are taxed at the bonus rate of 29%. So the Treasury Dept will have almost a third of that check for up to a year.
Nothing against you Treasury folks of course.
Re: Retirement
Accountant Federal Agency Tue May 27, 2008 8:40 AM
Well of course the lump sum payment for annual leave is taxed. When you went on vacation as an employee, you still had taxes, etc withheld from that paycheck, didn't you? And, if you itemize, you might get part of the amount withheld in taxes back as a refund.
Annual Leave
Budget Analyst Dept of Air Force Tue Jul 1, 2008 8:38 AM
I am confused about the paragraph that states "The 2008 leave year ends Jan 3, 2009, anyone retiring on that day (or on Jan 2, if their workweek were complete) would receive 208 additional hours. Someone retiring of December 31st or January 1st would receive 200 additional hours."
Does the above statement mean that if I retire on the those dates I would get my accrued annual leave plus an additional 200/208 hours? I have a carryover of 360 hours so I would be able to get paid for 560 hours?
Thanks
CD3
Re; Retirement Mr. John Grobe, Dec 17, 2007
IT Specialist SDDC Mon Jul 21, 2008 6:17 AM
So many interesting questions from everyone as a result of the article, thanks Mr. Grobe, now who provides the correct answers??
I also have one and have seen answers that contradict. I need to make sure.
I am clear on the lump sum payment for annual leave, taxes etc. but which year will it be reported to IRS as additional income?? Retire 31 Dec 08, receive the lump sum payment sometime in Jan 09, then what? For tax purposes will the nice lump sum be added to gross income for 2008 (and pay more taxes on it) or will it be for 2009, the year we receive it and when it wouldn't hurt as much since we are in a lower tax bracket, after retirement?
The leave payment is for accumulated 2008 leave so would think it adds to 2008 income eventhough we don't receive it until 2009. Which is it.......someone out there?
For those who work 4-10 and retire Jan 2
Tax analyst IRS Mon Jul 21, 2008 7:47 AM
The last day of the pay period for my retirement date is Jan 3, 2009. My AWS day is Friday the 2nd. The Holiday is Thurday Jan 1st. Can I leave the service on Wednesday the 31st and still be credited as retiring as of Jan 3rd. Some employees have said I must physically come to work on Friday the 2nd (last work day of the pay period). could you please clear this up for me---several other employees are in the same situation. In leaving the building on the 31 of December are we jeopardizing any benefits?
CSRS - Retiring on January 2, 2009
Deputy Area Counsel IRS Fri Aug 1, 2008 9:43 AM
John -
If you retire on January 2, 2009 rather than January 3, 2009, doesn't that mean that you would lose 8 hours of accrued annual leave for that pay period - leave you would otherwise be paid for if your retirement date were January 3?
And if that's the case, isn't it better to take the 8 hours of leave & be paid for it, while losing the one day's pro-ration for your January pension payment?
Or is there a nuance here concerning accrual of annual leave, so that your last pay period leave actually accrues on January 2?
Harmon
date
wg10 mclb Tue Aug 12, 2008 5:41 PM
would it be better for me to retire oct 31st or 15th of nov.
CSRS employees whose workweek ends on January 2nd
Tax analyst IRS Fri Aug 15, 2008 8:59 AM
Suppose your AWS day is January 2nd. What would be the date given as the final retirement date. If you use the 31st you loose pay for the holiday. If you choose the 2nd, you loose 2 days of pention pay. Or am I missing something?
NSPS in General
General Professional Air Force Tue Sep 9, 2008 8:56 PM
I don't know of anyone who is happy with this system. I am a supervisor and have just "wasted" a week on one annual appraisal When I went to put the working document in the assessment box it came back and stated there were too many characters. By the time I reduced the appraisal to fit in the box all pertinent information was deleted and it ended up just being a generic piece of block filler. I thought the old system was more fair and it could be accomplished in a reasonable amount of time. By the time all appraisal are completed I will have to turn around and write/approve new goals. Then before you know it, it's mid-term appraisal time. When do we get to do our jobs? Furthermore, it takes longer to get a replacement now than it did before this joke of a system was implemented. Someone in government I'm sure got big bucks for a useless system - sound like the new NAF-Transformation system that has spent a lot of money and produced a useless financial statement. LooknSee.
Lump Sum Leave Payment Vs Using Leave Prior
Test Control Officer Air Force Tue Sep 23, 2008 10:19 AM
Mr. Grobe, you wrote "Being able to carry over 240 hours of annual leave into the new year and then accrue and additional 200 or 208 hours, can leave one with a large lump sum payment."
I don't understand this - if one retires effective 31 Dec
(FERS best date) how can one carry an additonal 208 or 200 hours when one will no longer be working Jan 09 to accrue these hours? I understand the 240 hours carried over if that is one's leave balance as of 31 Dec. How does one accrue the additional 200 or 208 hours when one will no longer be working as of 1 Jan XXXX?
Another question I have is can one use the leave he/she already accrued prior to the effective retirement date? By this I mean my effective date to retire would be 31 Dec XXXX and I out process back in Sep-Oct time frame and I use my annual leave for 2-3 months....
Can someone be hired prior to my out processing so that I could train the person replacing me before I take my 'terminal' leave?
Robbie Sheehy
Sheppard AFB
How about 2010? and other questions....
IT Specialist USDA-FS Tue Sep 23, 2008 10:42 AM
I like to plan ahead....I'd be interested in
1. the same information for 2010.
2. I'd like to hear about taxes that will be taken out of my annuity once I retire, both Fed and State (I know this is a complicated question).
3. advice on couples in which 1 couple is CSRS, the other is private employment, that has a small pension, and will draw SS, and has individual insurance for himself. What would the strategy be for the CSRS person who needs to decide whether to take the whole annuity, or to have all or part taken out for the spousal share.
I know these are too much for one article, but
4 if there is somewhere/someone who could help me explore these decisions
Thank you
I am planning on retirement at the end of FY 2009 with 20 years law enforcement, 30 years federal service and age 55. I was told to wait until the end of the FY '09, September 30, 2009, to get my PFP for that year. I know I also will have to give back appr. 3 months of annual leave advanced to me at the first of the year. Can someone please tell me if there is more benefit to staying until January 3, 2010? I understand the point of not using leave all year and getting the lump sum. I already have 302 hours banked I carryover every year. Should I stay until January 3, 2001?
I am going to retire either in 2009 or within the first 3 months of 2010.
what would be the best dates to retire?
thanks
5 years of retirement dates
IAM Army Thu Jun 18, 2009 1:04 PM
It would be nice to have a list of the best day to retire from 1-5 years out for retirement planning under the GS and NSPS systems.
NSPS Payout Date 90+ days after end of Performance
Retired Retired Thu Oct 15, 2009 7:09 PM
I'm looking for specific individuals that left gov't service or retired from gov't service after 30 Sept and before the designated NSPS payout date, which for the 1Oct07 to 30Sep08 performance period was 4Jan09.
Individuals that met this criteria would not get a NSPS bonus payout, even though they worked the 365 days of a performance period, just because they weren't onboard some 90+ days later on the NSPS payout date. It seems that this is discriminatory for all individuals that met this criteria.
If you fall into this category, please contact me - rep@erols.com
In my case, after 36 years of federal service, I left gov’t service on 3 Jan’09. The NSPS payout date was 4 Jan’09, and even though performed the 365 days of the performance period, 1 Oct 07 to 30 Sep 08, in which my performance was rated at my highest NSPS rating of my career, and highest payout amount from the Command’s NSPS pay panel, I was not entitled to a payout because I left gov’t service 1 day (or 1 minute or
Lump Sum payment
Veterans Affairs
Tue Dec 18, 2007 9:15 AM
You make it sound like everyone who retires gets a bonus 200 or 208 hours of AL if they retire at the beginning of January. You might want to clarify that you only get that 208 hours if you haven't used it during the preceeding year......or am I wrong and they will give me a bonus 208 hours just because I'm retiring??? I didn't realize Uncle Sam was that generous.... ; )
Re: Lump Sum payment
Air Force
Tue Dec 18, 2007 9:49 AM
Re: Lump Sum payment
DOD
Wed Dec 19, 2007 6:26 AM
That is not what I understood was the problem with NSPS. The problem is with pay out that is bonus. Most people receive bonuses soon after the paperwork is processed. It is my understanding that NSPS bonuses are all paid in February of the next year after the award decision. This means that if you retire in Dec., you won't get your bonus. If you retire in Feb., you lose your prior years loose or use balance of AL.
So, as opposed to the non-DOD workforce, your pay out is reduced in one of the other way. Usually the bonus is less than the one year of unused AL but you need to consider your own case. For example someone formerly GS-13, Step 10 in DC might get an 8% paid out entirely as a bonus since they are ineligible for pay raises if the band doesn't change. That would be over $8,000 dollars or about 160 hours worth of pay. If you use half of your AL in that last year and earn 8 hr. AL per pay period, you have 104 hours of pay out for AL. This example - Feb. retire.
Re: Lump Sum payment
DoD
Mon Feb 11, 2008 10:15 AM
This is extremely unlikely to happen, though. In my agency, in order to get the full pay increase for 2008, we had to achieve a 4 rating. I am the equivalent of a GS-13, step 10, and my 4 rating got me enough money to keep me at the top of the YA-2 pay band and a bonus of $2,700. I don't know anyone who got anything close to $8,000.
NSPS is a joke. I am glad I am eligible to retire now.
This article
VA Medical Center
Tue Dec 18, 2007 10:32 AM
This article is supposedly to give the best retirement dates for 2008.......but you will note, the only dates
actually shown are....December 31, 2008 and and
January 2009......There are a few other months
inbetween.
Re: This article
Dod Agency
Tue Dec 18, 2007 10:40 AM
Best time to retire.
NCUA
Tue Dec 18, 2007 10:42 AM
Another often overlooked item, is that if you plan to work after federal retirement and plan on depositing to an IRA, it will not be allowed for a year in which you receive pay for even one day under federal retirement coverage.
Re: Best time to retire.
Dod
Tue Dec 18, 2007 1:41 PM
Re: Best time to retire.
Navy
Mon Jan 28, 2008 6:11 AM
Re: Best time to retire.
Spawar
Thu Feb 7, 2008 12:05 PM
I don't think they will end a leave year before New Year's Day. In the past, I have seen an occasional 27 pay period year. Which means that sometime soon they will shift it back again. 2010 will have New Year's Day on a Friday and 2011 will have Jan 1 on a Saturday. Whether or not you can retire on a holiday or Saturday, I'm not sure. But by 2012, we should have a 27 pay period year and then Jan 14 (Saturday) will be end of that leave year.
Postponing annuity in FERS
USDA Forest Service
Tue Dec 18, 2007 11:44 AM
I'll reach my minimum retirement age in May 2008 and would like to retire before I'm eligible for full retirement in Oct. 2011 (30 years). I turn 60 in July 2012. I've read that you can postpone taking your annuity in FERS to avoid the 5% reduction for each year under 62. I understand that I could begin my annuity at age 60 w/out the deduction. Is this correct? Would I also be able to start collecting the social security supplement at age 60 if I go this route? Thanks!
Re: Postponing annuity in FERS
USDA
Wed Dec 19, 2007 2:26 PM
Re: Postponing annuity in FERS
USDA
Tue Mar 4, 2008 1:11 PM
Annual Leave Payout
Social Security Administration
Tue Dec 18, 2007 3:16 PM
John-You make it seem like you receive a windfall if you retire Jan 3,2009.Example-I'm of retirement age and I am carrying over 240 this year.If I do not use any annual leave this year I earn another 208 hours so if I retire Jan 3 I would receive payment for 448 hours of unused annual leave.You imply that you receive another 208 hours-I don't believe this is true because we accrue leave pay period to pay period.I think the only way you can get the maximum payout is by foregoing all annual leave this year.I like your way better and always thought that since vacation is a benefit it should be totally accurred on the first day of the new year.
I think you should correct your statement-Thanks
Retirement dates
United Stateas Postal Service
Tue Dec 18, 2007 7:19 PM
I hope that you will run this column every year at least 4 months before the end of the year.
Retirement Date/NSPS
Army
Wed Dec 19, 2007 6:35 AM
A new wrinkle to consider with NSPS is that the payout occurs after the end of the leave year. Future retirees have to weigh whether it's better to save leave in the final year and get that pay out OR wait until Feb 3, forego the large Annual Leave payout so that they get whatever bonus they had earned in the previous year. NSPS payouts on average are about 75% higher than they would have been under TAPES. Almost makes the hassle of NSPS worthwhile, but the retirement trap isn't fair. The NSPS rating period and payout should be accelerated by 3 months
Best Date to Retire
USDA
Wed Dec 19, 2007 6:48 AM
I am under FERS - for planning purposes, what is the best date to retire in 2010?
Re: Best Date to Retire
FAA
Wed Dec 19, 2007 1:10 PM
article
cdc
Wed Dec 19, 2007 12:06 PM
If people wait until the Cubs win the world series to retire, I am afraid they will never retire. My wish is that they win the world series before I die, but alas, am wondering if that will happen. I will retire in 2 years!!
A Cubs fan...........
Accrued Annual Leave Pay Out
HHS
Wed Dec 19, 2007 2:50 PM
Too bad that not all payroll processing groups are aware of the method of calculating the A/L payout that you correctly explain in your article, i.e., that the lump-sum payment is computed as if one had begun to take the leave on the first workday after retirement & used it until it expired, so that the bulk of the payout is computed at the new salary rate. I retired 1/3/06 with 440 hours of accrued A/L. When I got my payslip showing the accrued A/L payout, I quickly calculated it had all been computed at the '05 salary rate. I immediately contacted our payroll liaison in DC to get this corrected. I had to explain the correct calculation and send citations (and an article from Tammy Flanagan). Payroll explained that the problem was that DFAS (who had assumed responsibility from HHS for payroll in mid-05) did not agree that the calculation would consider any part of the new salary rate. I was ultimately told it had been worked out & I would be paid the amount due. I'm still waiting!
DOD PAY
Federal Gov
Wed Dec 19, 2007 4:16 PM
I am doing a report on the balance of pay from DOD to Federal Gov from 1990 to 1995, just to compare the pay . Do anyone knows how I can get this information?
Best YEAR to retire
OPM
Thu Dec 20, 2007 8:58 AM
I appreciate your point about the best day for CSRS employees to retire at the end of the CY 2008 leave year being Friday, 1/2/09. I could go then but am considering sticking it out for another year to help with mentoring and training "newbies" in our work unit. I've received contradictory advice / opinions on the issue of retiring instead at the end of the CY 2009 leave year. Friday, 1/1/10, is, of course, a holiday, and is the last day of being in a pay status during the CY 2009 leave year. If one retires on that holiday, i.e., 1/1/10, are there any negative consequences from the standpoint of being able to accrue leave for that final pay period in the leave year? If so, would it be remedied by retiring instead on Saturday, 1/2/10? As I said, staff opinions vary on this, and available information on the web isn't helpful. Thanks.
NSPS Lump Sum valuation
DOD
Sun Dec 23, 2007 8:30 AM
It was pointed out to those of us under the NSPS system that we will not get paid for Leave based on our Pay Raise starting Jan 6 2008, unless we are on the rolls on the effective date. We have a choice, take our 240+200 at present pay, or carry only 240 over and retire after Jan 6, which means Feb, Mar, etc.
Another way the Govt saves money.
Retirement Date
Department of the Interior
Sun Dec 23, 2007 12:06 PM
If you don't have the maximum annual leave carryover issue to deal with, i.e., 240 hours, then I think a good date to retire in 2008 is January 31st for FERS employees and February 1st for CSRS employees. The reason: you get a bump-up in your life insurance rate when the annual comparability raise is posted in January, some or all of which will be carried into retirement (depending on the option you choose). And your high 3-year average salary will be slightly higher because you will have the new pay comparability increase posted to your account for most of the month resulting in a slightly higher annuity.
January 2, 2009 As A Retirement Date
Department of Defense
Thu Dec 27, 2007 4:37 PM
The article states that for CSRS employees whose workweek ends on January 2nd will find January 2, 2009 the best day to retire. I would appreciate clarification. January 2, 2009 is a Wednesday. First of all whose workweek in the Federal Service, GS or NSPS, ends on on Wednesday? And what does it matter whether the retirement date is the end of a workweek? For CSRS employees, the best time of the month to retire as I understand it is the first through the third of the month (no matter what day of the week it is or relationship to the end of the workweek) in order to get the first retirement check the following month rather than having to wait an additional month for the first check. I am planning on taking advantage of the "extra" leave carryover but this is the first time I have encountered the "end of the workweek" issue.
Re: January 2, 2009 As A Retirement Date
FAA
Thu Jan 10, 2008 3:50 PM
January 2, 2008 is Wednesday.
January 2, 2009 is a Friday.
CSRS Retirement for 2010
Military Surface Deployment and Distribution Command (SDDC)
Mon Jan 14, 2008 8:26 AM
I am retiring on September 30, 2010. I would like to know in regards to the above information provided what will I be facing. CSRS employees whose workweek ends on January 2nd will find January 2, 2009 the best day to retire. They will get paid for the New Years holiday and January 2nd and will receive a pro-rated annuity payment (on or about February 1st) for the remainder of January. CSRS (and CSRS Offset) retirees have the flexibility to retire up through the third of any month and still receive a prorated annuity.
how you get additional 208 and 200hrs addition
EPA
Mon Jan 14, 2008 11:12 AM
"The 2008 leave year ends January 3, 2009, anyone retiring on that day (or on January 2nd, if their workweek were complete) would receive 208 additional hours. Someone retiring on December 31st or January 1st would receive 200 additional hours."
Could you please explain this? How do you get extra 208 and 200 hrs respectively?
Re: how you get additional 208 and 200hrs addition
USDA Forest Service
Wed Feb 6, 2008 3:48 PM
2010 Retirement
SSA
Tue Jan 15, 2008 6:41 AM
Wouldn't December 31 be the best day to retire in 2010 for either CSRS or FERS? You get holiday, lump sum in following year and full January retirement payout February 2011.
Best Day To Retire - FERS
Sheppard AFB USAF
Tue Jan 15, 2008 8:57 AM
Mr. Grobe,
Is the 31st of December EVERY year ALWAYS the best date for a FERS employee to retire? It seems as if it is. I just want to be 100% sure.
Under the 2005 BRAC, by 30 September 2011 (the latest date) the medical training workload transfer will/should be complete from Sheppard AFB.
How would it work if a FERS employee has to retire effective 30 September 2011?
Could that employee work somewhere else on the base for 3 months then be able to retire the 31st of December?
Could that employee take a 'terminal leave' and still be able to retire effective 31st of December 2011?
Thanks for your time.
Roberta F. Sheehy
Unused Sick Leave
USPS
Tue Jan 15, 2008 9:26 AM
I have 45 + years with the Postal Service and have accumulated 4000 Sick Leave Hours. How will I be compensated for this time when I retire (CSRS)?
Re: Unused Sick Leave
Govt
Wed Feb 6, 2008 4:05 PM
Best retirement date for CSRS employees
Department of the Army
Tue Jan 22, 2008 10:07 AM
I'm not sure I understand the fourth paragraph. I was always told if you were planning on retiring at the end of the year that you should wait for the new COLA to "kick in" to be considered as one of the "high three" pay rates. So, is it more advantageous to retire on 2 Jan 09 or wait until - say - 2 Feb 09? I will have 39 years and 9 months in by that time.
Thank you for your information!
FERS Annual Leave Payment
Corps of Enginers
Tue Jan 22, 2008 10:36 AM
I am a FERS employee and like to retire on 31 Dec 2008
or 31 January. If I retire on 31 Dec 2008 will my lump-sum annual leave payment reflect the pay raise for 2009? If we have not converted to NSPS by then?
Excess Leave
U. S. Probation Officer
Wed Jan 23, 2008 8:03 AM
I'm scheduled to retire in March 2009. I carried over 240 hours annual leave from last year and I will earn 208 hours of leave this year. Since I will retire in March 2009, can I carry over more than 240 hours next year ?
Re: Excess Leave
Govt
Wed Feb 6, 2008 4:07 PM
Retirement
Veterans Hospital
Wed Jan 30, 2008 10:49 AM
Thanks so much for the information on the best date to retire for FERS employees. I am 66 and have not decided exactly when to retire. I will have 20 years of service the end of May 2009 and would like to hold out until then BUT......
Best Date to Retire
Air force
Wed Feb 6, 2008 1:53 PM
Good article, however, it did not address the middle of the year retirees. While I am not sure I want to stick around from April through December, I might if it is worthwhile. I am FERS and heard that sick leave might be reimbursed like annual leave in the future. Any more info on that from anyone out there?
Re: Best Date to Retire
SSA
Thu Feb 7, 2008 12:05 AM
Best Retirement Date for 2010?
USDA Forest Service
Wed Feb 6, 2008 3:32 PM
After reading the above article, I am curious as to the best date to retire at the end of 2010. The last day of payperiod 26 is January 1st (saturday) and the first day of payperiod 1 is January 2nd (sunday), rarely does this ever happen. In this case, the work days of payperiod 26 does not go into January at all. So which is the better date for a CSRS employee to retire, December 31st, January 1st, or January 2nd. Should that employee actually work on saturday January 1st? Also would the 448 hours of annual leave still be allowed?
Re: Best Retirement Date for 2010?
Department of Justice
Wed Feb 6, 2008 6:59 PM
Entitlements at Retirement
US Air Force
Thu Feb 7, 2008 10:23 AM
I retired on 3 Jan 2008 under the CSRS and did not receive some of the entitlements listed in Mr. Grobe's article.
First, the lump sum leave payment was not computed at the new pay rate. Second, they also deducted for retirement , and health and life insurance. My last LES and pay check was received on 11 Jan 2008.
If the facts in this article are true why want the Air Force
refund me my money?
Thank you.
Garlnd Evans, Jr.
Re: Entitlements at Retirement
FAA
Mon Feb 11, 2008 10:49 AM
Don't forget about FERS Annuity Supplement
Dept of Air Force
Thu Feb 7, 2008 12:28 PM
Every year - Jan 1 through Dec 31 brings another year added on in the calculation of FERS annuity supplement. You must complete the full year which is another reason for FERS employee's to retire on Dec 31st if they qualify to receive a FERS annuity supplement.
Re: Don't forget about FERS Annuity Supplement
Defense Logistics Agency
Fri Sep 12, 2008 3:10 PM
Go to above site. It has an excellent calculator for the FERS annuity supplement, as well as eight other calculators for various Federal benefits.
Best day to retire in 2009
NRCS
Fri Feb 8, 2008 11:53 AM
As a person planning to retire in the spring of 2009, I would appreciate information for best dates after early January. The information that Fedsmith provides is greatly appreciated. However, it would be more useful if you provide best dates 1-2 years in advance to help people with their retirement planning.
Retirement Dates for FERS employees
VA
Wed Feb 20, 2008 8:06 AM
If, at the time of their retirement from the Federal Gov't, a FERS employee will already be eligible for Social Security Retirement based upon age, do the Social Security annual earnings limits impact the date the FERS employee should retire on?
For example, if I turn 62 in May, and retire in June of that same year, have I already exceeded the Social Security annual income limits, thereby reducing my benefit for that calendar year. Do I instead need to retire from my gov't agency on the very last day of a calendar year to avoid that scenario?
Re: Retirement Dates for FERS employees
CDC
Wed May 21, 2008 7:49 PM
Higher Pay for Annual Leave after the COLA in 2009
CBP
Wed Feb 20, 2008 8:50 AM
You failed to mention that if you wait until the 2009 COLA, you'll get paid for your annual leave at the higher rate.
This is correct, isn't it?
CSRS Retirement
Army
Thu Feb 21, 2008 12:15 PM
I plan to retire on February 28,2009. I am at an installation that will closed pursuant to BRAC after that date. As a result I can accrue unlimited AL until I retire and be paid for it. With that in mind is the date I have chosen a good date?
1) It is the end of a pay period and month and
2) Presumably my NSPS payout will have been made by that time
FERS Retirement
DOJ
Tue Mar 4, 2008 10:25 AM
Just to help me out, would you comment on what the best strategy would be for me. I became a FERS federal employee i n 1999, and paqid an allotment for 15 years of military service. I will reach my 60th birthday in January 2009, when I will begin drawing my Army Reserve retirement. My retirement computation date is December 1984. Should I plan to retire on December 31, 2008, or January 31, 2009 (after my 60th birthday) to take the FERS retirement without a rreduction?
Thank you
Retirement Benefits
US Air Force
Fri Mar 7, 2008 11:46 AM
Mr. Grobe,
You mentioned that insurance deductions should not be taken out of the lump sum annual leave payout. Does this include medicare? I am currently having a problem with DFAS because they deducted a large amount for this out of the leave payout.
Additionally, you should also advise future retires that they will encounter a long wait with OPM finalizing their application for benefits. Also, they should not expect to get the amount projected in the interim payment period.
I am currently getting about 33% of my salary before retirement.
Hope this will be good information to those considering retirement.
Best date to retire and first annuity payment
Department of Veterans Affairs
Thu Mar 13, 2008 10:43 AM
I plan to retire (under CSRS) on Jan 3, 2009. The HR adviser at my agency told me I will not get an annuity payment on or about Feb 1 (as your article states) but will have to wait up to 12 weeks for the first payment to arrive. She said I will have to make my last check (which will include my annual leave payment) last until then!
Who is correct?
Best time to retire in 2010
DOE/NNSA
Thu Mar 13, 2008 12:00 PM
I am a CSR employee with 32 years. I plan to accumulate as much Annual Leave in CY 2009 as possible and retire in early January 2010. What would be the best day? My email address is jlovato@doeal.gov.
Retirement
Dept of Army
Tue May 27, 2008 1:08 AM
I never see anyone mention that lump sum payments for annual leave are taxed at the bonus rate of 29%. So the Treasury Dept will have almost a third of that check for up to a year.
Nothing against you Treasury folks of course.
Re: Retirement
Federal Agency
Tue May 27, 2008 8:40 AM
Annual Leave
Dept of Air Force
Tue Jul 1, 2008 8:38 AM
I am confused about the paragraph that states "The 2008 leave year ends Jan 3, 2009, anyone retiring on that day (or on Jan 2, if their workweek were complete) would receive 208 additional hours. Someone retiring of December 31st or January 1st would receive 200 additional hours."
Does the above statement mean that if I retire on the those dates I would get my accrued annual leave plus an additional 200/208 hours? I have a carryover of 360 hours so I would be able to get paid for 560 hours?
Thanks
CD3
Re; Retirement Mr. John Grobe, Dec 17, 2007
SDDC
Mon Jul 21, 2008 6:17 AM
So many interesting questions from everyone as a result of the article, thanks Mr. Grobe, now who provides the correct answers??
I also have one and have seen answers that contradict. I need to make sure.
I am clear on the lump sum payment for annual leave, taxes etc. but which year will it be reported to IRS as additional income?? Retire 31 Dec 08, receive the lump sum payment sometime in Jan 09, then what? For tax purposes will the nice lump sum be added to gross income for 2008 (and pay more taxes on it) or will it be for 2009, the year we receive it and when it wouldn't hurt as much since we are in a lower tax bracket, after retirement?
The leave payment is for accumulated 2008 leave so would think it adds to 2008 income eventhough we don't receive it until 2009. Which is it.......someone out there?
For those who work 4-10 and retire Jan 2
IRS
Mon Jul 21, 2008 7:47 AM
The last day of the pay period for my retirement date is Jan 3, 2009. My AWS day is Friday the 2nd. The Holiday is Thurday Jan 1st. Can I leave the service on Wednesday the 31st and still be credited as retiring as of Jan 3rd. Some employees have said I must physically come to work on Friday the 2nd (last work day of the pay period). could you please clear this up for me---several other employees are in the same situation. In leaving the building on the 31 of December are we jeopardizing any benefits?
CSRS - Retiring on January 2, 2009
IRS
Fri Aug 1, 2008 9:43 AM
John -
If you retire on January 2, 2009 rather than January 3, 2009, doesn't that mean that you would lose 8 hours of accrued annual leave for that pay period - leave you would otherwise be paid for if your retirement date were January 3?
And if that's the case, isn't it better to take the 8 hours of leave & be paid for it, while losing the one day's pro-ration for your January pension payment?
Or is there a nuance here concerning accrual of annual leave, so that your last pay period leave actually accrues on January 2?
Harmon
date
mclb
Tue Aug 12, 2008 5:41 PM
would it be better for me to retire oct 31st or 15th of nov.
CSRS employees whose workweek ends on January 2nd
IRS
Fri Aug 15, 2008 8:59 AM
Suppose your AWS day is January 2nd. What would be the date given as the final retirement date. If you use the 31st you loose pay for the holiday. If you choose the 2nd, you loose 2 days of pention pay. Or am I missing something?
NSPS in General
Air Force
Tue Sep 9, 2008 8:56 PM
I don't know of anyone who is happy with this system. I am a supervisor and have just "wasted" a week on one annual appraisal When I went to put the working document in the assessment box it came back and stated there were too many characters. By the time I reduced the appraisal to fit in the box all pertinent information was deleted and it ended up just being a generic piece of block filler. I thought the old system was more fair and it could be accomplished in a reasonable amount of time. By the time all appraisal are completed I will have to turn around and write/approve new goals. Then before you know it, it's mid-term appraisal time. When do we get to do our jobs? Furthermore, it takes longer to get a replacement now than it did before this joke of a system was implemented. Someone in government I'm sure got big bucks for a useless system - sound like the new NAF-Transformation system that has spent a lot of money and produced a useless financial statement. LooknSee.
Lump Sum Leave Payment Vs Using Leave Prior
Air Force
Tue Sep 23, 2008 10:19 AM
Mr. Grobe, you wrote "Being able to carry over 240 hours of annual leave into the new year and then accrue and additional 200 or 208 hours, can leave one with a large lump sum payment."
I don't understand this - if one retires effective 31 Dec
(FERS best date) how can one carry an additonal 208 or 200 hours when one will no longer be working Jan 09 to accrue these hours? I understand the 240 hours carried over if that is one's leave balance as of 31 Dec. How does one accrue the additional 200 or 208 hours when one will no longer be working as of 1 Jan XXXX?
Another question I have is can one use the leave he/she already accrued prior to the effective retirement date? By this I mean my effective date to retire would be 31 Dec XXXX and I out process back in Sep-Oct time frame and I use my annual leave for 2-3 months....
Can someone be hired prior to my out processing so that I could train the person replacing me before I take my 'terminal' leave?
Robbie Sheehy
Sheppard AFB
How about 2010? and other questions....
USDA-FS
Tue Sep 23, 2008 10:42 AM
I like to plan ahead....I'd be interested in
1. the same information for 2010.
2. I'd like to hear about taxes that will be taken out of my annuity once I retire, both Fed and State (I know this is a complicated question).
3. advice on couples in which 1 couple is CSRS, the other is private employment, that has a small pension, and will draw SS, and has individual insurance for himself. What would the strategy be for the CSRS person who needs to decide whether to take the whole annuity, or to have all or part taken out for the spousal share.
I know these are too much for one article, but
4 if there is somewhere/someone who could help me explore these decisions
Thank you
CSRS Retirement at End of FY 2009
OIG - USPS
Wed Sep 24, 2008 12:00 PM
I am planning on retirement at the end of FY 2009 with 20 years law enforcement, 30 years federal service and age 55. I was told to wait until the end of the FY '09, September 30, 2009, to get my PFP for that year. I know I also will have to give back appr. 3 months of annual leave advanced to me at the first of the year. Can someone please tell me if there is more benefit to staying until January 3, 2010? I understand the point of not using leave all year and getting the lump sum. I already have 302 hours banked I carryover every year. Should I stay until January 3, 2001?
Request permission to reproduce this article
Dept. HUD
Wed Nov 5, 2008 3:51 PM
Need a copy of this Article
Re: Request permission to reproduce this article
FedSmith.com
Wed Nov 5, 2008 5:02 PM
BEST DATE TO RETIRE 2009
USPS
Mon Jan 5, 2009 2:59 PM
in order to maximize annual lump sum payout, what will be the best day to retire at the end of 2009?
re:
widecircles
Fri Jan 16, 2009 12:26 AM
How will I be compensated for this time when I retire (CSRS)?
Branch Chief
----------
sanjeppu
Retirement Date
Socail Security
Tue Mar 17, 2009 9:50 AM
Will you run a new article about the best time to retire in later 2009 or early 2010?
best dates to retire
VA
Thu Apr 9, 2009 7:21 AM
I am going to retire either in 2009 or within the first 3 months of 2010.
what would be the best dates to retire?
thanks
5 years of retirement dates
Army
Thu Jun 18, 2009 1:04 PM
It would be nice to have a list of the best day to retire from 1-5 years out for retirement planning under the GS and NSPS systems.
NSPS Payout Date 90+ days after end of Performance
Retired
Thu Oct 15, 2009 7:09 PM
I'm looking for specific individuals that left gov't service or retired from gov't service after 30 Sept and before the designated NSPS payout date, which for the 1Oct07 to 30Sep08 performance period was 4Jan09.
Individuals that met this criteria would not get a NSPS bonus payout, even though they worked the 365 days of a performance period, just because they weren't onboard some 90+ days later on the NSPS payout date. It seems that this is discriminatory for all individuals that met this criteria.
If you fall into this category, please contact me - rep@erols.com
In my case, after 36 years of federal service, I left gov’t service on 3 Jan’09. The NSPS payout date was 4 Jan’09, and even though performed the 365 days of the performance period, 1 Oct 07 to 30 Sep 08, in which my performance was rated at my highest NSPS rating of my career, and highest payout amount from the Command’s NSPS pay panel, I was not entitled to a payout because I left gov’t service 1 day (or 1 minute or