Until late last year, FERS employees in the twilight of their careers were faced with a dilemma: What should I do about my sick leave? This has recently changed and FERS employees now receive credit for their sick leave. How does this work in practice?
The President has signed into law a bill that expands the human resources benefits for federal employees.
The Senate has approved a bill that will change a number of current human resources policies and includes changing the FERS retirement system to allow employees under this system to get credit for unused sick leave.
Some readers have been delaying their retirement with the expectation of getting a financial gain from credit for their unused sick leave. That may happen but the final legislation may not bring the windfall you are expecting.
An amendment to expand federal employee benefits has again died in the Senate after passing in the House. The withdrawal of the amendment kills, at least for the moment, a proposal to provide credit for unused sick leave for FERS employees upon retirement.
The bill that would provide credit for unused sick leave for federal employees under the FERS retirement plan and change the pay system for federal employees outside of the continental United States has been passed by the House.
A proposal to allow federal employees under the FERS system to get credit for unused sick leave did not get through the legislative process last year and was recently eliminated in new legislation during the legislative process. The proposal is back again though in a bill that has an assortment of new, improved benefits for portions of the federal workforce.
The Senate did not include proposed changes to the FERS sick leave program that would have given some people more money in retirement. How should this recent development impact your retirement plans?
A bill is moving through Congress that would allow FERS employees to count unused sick leave in computing retirement benefits. Is it more beneficial to take the leave or to save it for using in computing retirement benefits? Here are a few considerations–if this bill does get passed by Congress.
Federal employees under the FERS system who are nearing retirement may have at least a momentary sense of enrichment. Legislation has again been introduced in the House to credit unused sick leave in computing an annuity payment.