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Federal Employees Benefits Q &A

Do you have questions about your federal employee CSRS or FERS pension/annuity or federal employee retirement planning? Concerns about your Thrift Savings Plan (TSP) account or what about federal employee pay and leave issues?

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The Q&A forum is moderated by Ed Zurndorfer -- an expert on federal employee benefits -- and a Certified Financial Planner, chartered life underwriter and chartered financial consultant in Maryland.

Zurndorfer is also the author of several federal employee benefits guides published by Federal Employees News Digest.

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#1 Posted : Monday, January 02, 2012 11:54:02 PM(UTC)

Rank: Newbie

Groups: Registered
Joined: 6/22/2009(UTC)
Posts: 2

I am a CSRS employee and plan to retire at the end of 2013.  I am trying to determine the best day to retire.  Should I retire on December 27 (end of a pay period), December 31 (Tuesday), or January 3 (Friday)?  Or is there any difference other than the additional days of pay I would receive for working a few days longer?
Ed Zurndorfer  
#2 Posted : Tuesday, January 03, 2012 3:43:32 PM(UTC)
Ed Zurndorfer

Rank: Senior Member

Groups: Registered
Joined: 9/10/2001(UTC)
Posts: 4,412

Whether you retire December 28, 2013 (you want to retire on a Saturday which is the end of a pay period for most employees) or December 31, 2013 or January 3, 2014, your first CSRS annuity check will be dated February 1, 2014 and you will receive 11/12 of the COLA taking effect in January 2015 (assuming there is a COLA taking effect in January 2015). However, by retiring Dec. 31 or Jan. 3 you will not accrue any annual or sick leave hours for the last pay period of leave year 2013. You would, however, get paid for Dec. 30 and Dec. 31 (if you were to retire on Dec. 31, 2013) and get paid for the period Dec. 30 - Jan. 3 (that includes the Jan. 1 holiday) if you were to retire on Jan. 3, 2014. But also keep in mind that if you were to retire on Jan. 3, 2014, then you will receive 27/30 of the first CSRS annuity check dated Feb. 1, 2014 whereas if you were to retire Dec. 27 or 31, 2013 you will be eligible to receive a full CSRS annuity check dated Feb. 1, 2014.   
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