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Retirement Planning

Whether you are close to federal employee retirement or just starting out in your career, this is the place to share ideas with your federal colleagues on creating a secure financial foundation.

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#1 Posted : Saturday, April 24, 2010 11:08:37 AM(UTC)

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My MRA for FERs retirement is in June 2013.


I desire to be credited with the full amount of my sick leave, meaning I must retire on or after January 1, 2014.  However, I also desire to retire in January 2014 with the maximum unused annual leave to be paid.


Given that the 2013 leave year ends on January 11, 2014, can I achieve both of my objectives by retiring no earlier that January 1, 2014 and no later than January 11, 2014?

If I do so, will my FERs annuity will commence in March 2014?
#2 Posted : Monday, April 26, 2010 4:15:30 AM(UTC)

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Yes, as long as you retire before the new leave year starts, you will get credited for all your leave (i.e. the 240 hours of roll over, that you carried into 2013, and all the leave you accrued but didn't use during the year of 2014).  You have to have your retirement date listed before the end of the leave year in order to not lose the roll over.
#3 Posted : Monday, April 26, 2010 6:08:45 AM(UTC)

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And you have to realize that if you retire earlier than the last day of January, you will never receive an annuity for the rest of that month.  When you say that your annuity will start in March, that's correct but it will only cover February, not the remainder of January. 
#4 Posted : Monday, May 03, 2010 12:00:42 AM(UTC)

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Have you done the math to to see if it's actually worth it to delay 6 months?  When you consider you'll get half-credit for your sick leave in June, you'll be working those 6 months for only the difference between your current pay and your annuity plus half your sick pay.
You'll likely be working for peanuts while you COULD be fishing, golfing, traveling, etc.
I know it hurts to only get half credit for all those hours (especially with full credit just around the corner!) but you need to look at the actual numbers to see how little you'll actually make those last six months.   I was shocked when I saw mine. 
"The nine most terrifying words in the English language are: 'I'm from the government and I'm here to help.'" <br />--what Reagan REALLY said.
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