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RetiringSoon  
#1 Posted : Friday, April 19, 2019 10:28:31 AM(UTC)
gabelman

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I have over 41 years in the government. I am under the CSRS Plan. I have been searching to find out the best dates to retire in 2019. On myfederalretirement.com site it indicated the best dates as Jan 3, Feb 2 Marc 2, Mar 30, August 3, August 31 and Sept 29. I then searched and found different dates than the one listed her. I'm thinking of going with August 3 but I want to make sure that's a good day because I read if you're one day off you won't receive your pension until a later month. Any assistance would be greatly appreciated as I want to make sure it's a good date.
Thanks in advance.
GoHuskers  
#2 Posted : Friday, April 19, 2019 11:34:48 AM(UTC)

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August 3 is a Saturday. Unless you plan to work that day, why not retire as of close of business on Friday, the 2nd? That way you would get 28/30 of the August pension versus 27/30 if you retire on August 3. And even if August 3 is the end of the pay period, if the 2nd is your last scheduled work day in that pay period my understanding is that you would still get credited for your 8 hours of annual leave for that period.
thanks 1 user thanked for this useful post.
SD Analyst on 4/22/2019(UTC)
roger.d  
#3 Posted : Friday, April 19, 2019 5:23:43 PM(UTC)
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What are these other sites, and days they list?

I would trust the days the Ed listed.
Learn to discipline yourself, so someone else doesn't have to
postalvet  
#4 Posted : Friday, April 19, 2019 5:30:12 PM(UTC)
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Originally Posted by: RetiringSoon Go to Quoted Post
I have over 41 years in the government. I am under the CSRS Plan. I have been searching to find out the best dates to retire in 2019. On myfederalretirement.com site it indicated the best dates as Jan 3, Feb 2 Marc 2, Mar 30, August 3, August 31 and Sept 29. I then searched and found different dates than the one listed her. I'm thinking of going with August 3 but I want to make sure that's a good day because I read if you're one day off you won't receive your pension until a later month. Any assistance would be greatly appreciated as I want to make sure it's a good date.
Thanks in advance.


the only way you loose a month is if you retire after the 3rd of the month. or said another way outside the 29th and the 3rd window.

the months people point out as best dates really has to do with your tax liability and annual leave balance.
Postal employee (retired) 38 yrs who helps even if some do not believe me! I was a Steward, officer & trouble maker. Just Sayin'
RetiringSoon  
#5 Posted : Monday, April 22, 2019 8:42:10 AM(UTC)
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Thanks all for taking the time to respond. Also, sorry for the typos in my previous post.

I tried to get information from my HR regarding best dates, but I haven't heard back from them. So, I sincerely appreciate all of your input.
There were 2 sites I looked at on the internet.

1)https://www.myfederalretirement.com/best-dates-retire/ (This is the site which indicated Aug 3rd instead of August 2nd. Perhaps they were using the end ofa Pay Period. I don't know. If I decide to go with August, I will use the date you suggested (Aug 2)

I also reviewed this site https://myfederalretirem...dates-to-retire-in-2019/ which states the following See a and b below:

a)"The best dates for CSRS in 2019 that will allow a retirement at the end of the month (or within the first three days of a month) and also at or near the end of a leave period will be Jan. 3, Feb. 1, March 1, March 30, Aug. 2, and Aug. 31. Jan. 3, 2020, would also work, because it’s within the 2019 leave year."

b) The following dates would also work for CSRS, but would not earn a final leave accrual since they are not at the end of a pay period: May 3, May 31, June 30, July 3, Sept. 3, Oct. 3, Oct. 31, Nov. 1, Nov. 30, and Dec. 3.

So, as you indicated, I believe I will go with August 2nd.If I decide to use an August date.

However, If I should decide to leave earlier for example, July 3. Is there anything I would lose besides an additional Annual Leave date on July 3. I would hate to miss the deadline by one day and have to wait an addition month.

Thank you all again! You're so helpful.

RetiringSoon  
#6 Posted : Monday, April 22, 2019 8:57:24 AM(UTC)
gabelman

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Thanks all for taking the time to respond. Also, sorry for the typos in my previous post.

I tried to get information from my HR regarding best dates, but I haven't heard back from them. So, I sincerely appreciate all of your input.
There were 2 sites I looked at on the internet.

1)https://www.myfederalretirement.com/best-dates-retire/ (This is the site which indicated Aug 3rd instead of August 2nd. Perhaps they were using the end ofa Pay Period. I don't know. If I decide to go with August, I will use the date you suggested (Aug 2)

I also reviewed this site https://myfederalretirem...dates-to-retire-in-2019/ which states the following See a and b below:

a)"The best dates for CSRS in 2019 that will allow a retirement at the end of the month (or within the first three days of a month) and also at or near the end of a leave period will be Jan. 3, Feb. 1, March 1, March 30, Aug. 2, and Aug. 31. Jan. 3, 2020, would also work, because it’s within the 2019 leave year."

b) The following dates would also work for CSRS, but would not earn a final leave accrual since they are not at the end of a pay period: May 3, May 31, June 30, July 3, Sept. 3, Oct. 3, Oct. 31, Nov. 1, Nov. 30, and Dec. 3.

So, as you indicated, I believe I will go with August 2nd.If I decide to use an August date.

However, If I should decide to leave earlier for example, July 3. Is there anything I would lose besides an additional Annual Leave date on July 3. If I'm not mistaken you said as long as it's the first 3 days of the month it's fine. I would hate to miss the deadline by one day and have to wait another money for my annuity.

Thank you all again! You're so helpful.
Raoul  
#7 Posted : Monday, April 22, 2019 5:15:32 PM(UTC)

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There are several calculators on-line that will calculate your total service.
The wild card is your sick leave.
Your total service time is truncated to whole months, any additional days less than 30 are dropped.

Your sick leave hours are converted to 'days' and may ultimately help you decide whether to retire on the 30th, 1st, 2nd, 3rd.
Would be a shame to have 29 days service dropped because you chose the 2nd rather than the 3rd etc...



Retired July 2011
RetiringSoon  
#8 Posted : Tuesday, April 23, 2019 4:42:18 AM(UTC)
gabelman

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Originally Posted by: Raoul Go to Quoted Post
There are several calculators on-line that will calculate your total service.
The wild card is your sick leave.
Your total service time is truncated to whole months, any additional days less than 30 are dropped.

Your sick leave hours are converted to 'days' and may ultimately help you decide whether to retire on the 30th, 1st, 2nd, 3rd.
Would be a shame to have 29 days service dropped because you chose the 2nd rather than the 3rd etc...





Thanks so much. Now I'm really confused. I wouldn't want to lose 29 days of service but thought those dates I selected as dates I may retire would be good dates not to lose it. I just can't digest all of this information. I thought as long as I used any of the dates that are indicated as "the best dates" I'd be ok and wouldn't lose anything besides maybe an annual leave day. I thought August 2 and July 3rd were good dates (besides losing an annual leave date if I selected July 3)
I started working on Sept 16, 1977 and only have 600 hours Sick Leave. I guess I'll have to search for a calculator to try to figure it out. Someone in my HR office totally miscalculated some ones retirement in my office. Fortunately, he knew what he was doing.
TheRealOrange  
#9 Posted : Tuesday, April 23, 2019 5:44:02 AM(UTC)
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Originally Posted by: RetiringSoon Go to Quoted Post
Originally Posted by: Raoul Go to Quoted Post
There are several calculators on-line that will calculate your total service.
The wild card is your sick leave.
Your total service time is truncated to whole months, any additional days less than 30 are dropped.

Your sick leave hours are converted to 'days' and may ultimately help you decide whether to retire on the 30th, 1st, 2nd, 3rd.
Would be a shame to have 29 days service dropped because you chose the 2nd rather than the 3rd etc...

Thanks so much. Now I'm really confused. I wouldn't want to lose 29 days of service but thought those dates I selected as dates I may retire would be good dates not to lose it. I just can't digest all of this information. I thought as long as I used any of the dates that are indicated as "the best dates" I'd be ok and wouldn't lose anything besides maybe an annual leave day. I thought August 2 and July 3rd were good dates (besides losing an annual leave date if I selected July 3)
I started working on Sept 16, 1977 and only have 600 hours Sick Leave. I guess I'll have to search for a calculator to try to figure it out. Someone in my HR office totally miscalculated some ones retirement in my office. Fortunately, he knew what he was doing.

Six hundred hours gets you about 3 months and 13 or 14 days. Here is a link to a good conversion chart: http://www.federalretire...t.net/sickleavechart.htm .

Your HR personnel should be able to use any retirement date you select and give you the exact number of years, months, and days used to calculate your annuity. In my agency we can do it ourselves using FHR Navigator. Depending on the days "lost" for annuity calculation purposes (they all count toward service credit), you may simply want to use some sick leave for appointments, etc. prior to retiring. Best of luck to you.
GoHuskers  
#10 Posted : Tuesday, April 23, 2019 10:57:19 AM(UTC)

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Raoul made a good point about the sick leave. If it isn't clear, here is what he was getting at.

With a service comp date of 9/16/77 and a retirement date of August 2, 2019 you would have total service of 41 years, 10 months, and 17 days (as suggested above, you'll want to double check that with your personnel dept.). Any unused sick leave will be added to that to get total service for pension computation purposes. In computing the total service only whole months are used and any excess days are dropped. A whole month is considered to be 30 days. So, if you were to add 3 months and 13 days of sick leave to your actual service, you would have 42 years, one month and 30 days, or 42 years and 2 months for pension purposes. That gives you a base pension equal to 80 1/2% of your high-3. But if your sick leave only equaled 3 months and 12 days, you would only have 42 years, one month and 29 days of service, if which case the 29 days are dropped and you would have your pension based on 42 years and 1 month of service. Then, your pension would only be based om 80 1/3% of your high-3. In that instance you might want to use August 3 instead of August 2 as it would give you that one extra day needed to get the additional whole month of service. But if it turns out you have a few days of sick leave to spare, you could just go with the 2nd and possibly use the excess days as suggested by TheRealOrange.
roger.d  
#11 Posted : Tuesday, April 23, 2019 11:03:31 AM(UTC)
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http://www.fedcalc.com

There are calculators on this site that will allow you to input your information.

Change the number of SL day to see how it affects your years of service.

I know how how many SL hours I will earn before I retire. Then backed that number down until it changes the years of service. Now I know how many hours I can use.

Baring a major illness/injury,

ETA: I am forcasting 5+ years out.

Edited by user Tuesday, April 23, 2019 11:06:17 AM(UTC)  | Reason: Not specified

Learn to discipline yourself, so someone else doesn't have to
gabelman  
#12 Posted : Wednesday, April 24, 2019 6:42:55 AM(UTC)
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Originally Posted by: GoHuskers Go to Quoted Post
Raoul made a good point about the sick leave. If it isn't clear, here is what he was getting at.

With a service comp date of 9/16/77 and a retirement date of August 2, 2019 you would have total service of 41 years, 10 months, and 17 days (as suggested above, you'll want to double check that with your personnel dept.). Any unused sick leave will be added to that to get total service for pension computation purposes. In computing the total service only whole months are used and any excess days are dropped. A whole month is considered to be 30 days. So, if you were to add 3 months and 13 days of sick leave to your actual service, you would have 42 years, one month and 30 days, or 42 years and 2 months for pension purposes. That gives you a base pension equal to 80 1/2% of your high-3. But if your sick leave only equaled 3 months and 12 days, you would only have 42 years, one month and 29 days of service, if which case the 29 days are dropped and you would have your pension based on 42 years and 1 month of service. Then, your pension would only be based om 80 1/3% of your high-3. In that instance you might want to use August 3 instead of August 2 as it would give you that one extra day needed to get the additional whole month of service. But if it turns out you have a few days of sick leave to spare, you could just go with the 2nd and possibly use the excess days as suggested by TheRealOrange.


Yes, you made it clearer for me. But, August 3rd is a Saturday. Can I use August 3rd if it's not a working day?

Thanks to each and everyone here.
GoHuskers  
#13 Posted : Wednesday, April 24, 2019 10:20:30 AM(UTC)

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Yes, you can use any day of the week, working day or not.
someoldguy  
#14 Posted : Wednesday, April 24, 2019 11:10:09 AM(UTC)
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The best day to retire is as soon as possible.
DISCLAIMER: You read it on an open internet forum :)
Banzai  
#15 Posted : Thursday, April 25, 2019 7:58:07 AM(UTC)
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Yes, this very situation was a factor in determining my best day. Since my normal work schedule is 4 X 10hr days, I planned on going Thursday Jan 2nd 2020. This would give me credit for the New Years holiday and since my 80 work hrs. for the pay period would be satisfied, I'd also accrue my sick and annual leave.

But when I factored in my entire length of service (start date / end date and unused sick leave credit) I found that by extending my retirement date to the next day (Friday, Jan 3rd 2020) it adds one more whole month of creditable service to my time and payable annuity. And since that Friday is my regular day off anyways, I don't even have to come in. The 2nd will still be my actual last day.
gabelman  
#16 Posted : Thursday, April 25, 2019 8:27:14 AM(UTC)
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How I wish I was looking and researching this earlier. But thankful I found this site.

So, If I can use any day, and I use August 3rd (which is the end of that pay period and is a Saturday) I don't have to come to work, do I?
Banzai  
#17 Posted : Thursday, April 25, 2019 9:24:23 AM(UTC)
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No, You can pick August 3rd as the date to drop off the rolls, but don't have to actually come in if it's not a normal, scheduled work day. So you need that extra day to complete another full month of creditable service time?
gabelman  
#18 Posted : Thursday, April 25, 2019 9:27:39 AM(UTC)
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Perfect. So, It looks like I'll be going with August 3rd.
Thanks to each and every one of you for all you're assistance. I may, or probably will be coming back to ask more questions.

I sincerely appreciate all your efforts. I couldn't do it without all of your assistance.
Raoul  
#19 Posted : Thursday, April 25, 2019 1:41:09 PM(UTC)

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Don't cut it too close.

My wife retired from a BRAC installation back in 2011.
They wanted her to stay to the end and offered her a VSIP to do so.

They told her she would retire on Sep 3rd.
She had plenty of time to plan and ran service calculators several times to make sure everything was right.
With her accumulated sick leave she had 33 years and one day service.
She knew she would lose that day and never took it.

One week before retirement all VSIP recipients were told their retirement date was moved up to Sep 1st.
Didn't think anything about it until she was finalized. OPM Blue Book total service = 32 years 11 months.

29 days sick leave down the toilet.

Edited by user Thursday, April 25, 2019 1:42:07 PM(UTC)  | Reason: Not specified

Retired July 2011
gabelman  
#20 Posted : Friday, April 26, 2019 6:55:18 AM(UTC)
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Ugh. That is awful!!! I just calculated and it looks like I'll have 28 days of S/L down the drain. But I'll have some time to use some of it until my August 3 retirement.
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