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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?

Ask your question here.

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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Note: FederalSoup.com has attempted to compile information that is as accurate and current as possible for federal employees. Federal policies, laws, regulations, statistics and addresses continually change. Therefore, no warranties are made as to the accuracy or completeness of the information presented in this column. If additional clarification or information is needed, it is suggested that competent and professional assistance be sought. Mr. Zurndorfer does not moderate other forums on FederalSoup and will not reply to general FederalSoup inquiries submitted in this Q&A forum.

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nodog  
#1 Posted : Monday, April 02, 2012 12:04:39 AM(UTC)
nodog

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Hi Ed, I plan on retiring at the end of 2012 and I keep seeing that the best date for CSRS to retire is 2JAN13. I see that the last PayPeriod and the end of the tax year for 2012 ends on 15DEC12. I carry over the max (240) hours of Annual Leave and am going to attempt use very little of my "Use Or Loose" throughout this year so that I will recieve it in payment instead. If I used none of the 208 hours Use Or Loose that would give me a payment for 448 hours of leave. However, my fear is that if I waited until 2JAN13 to retire I would loose all 208 hours of Use Or Loose and only recieve payment for the 240 hours allowed to carry over into 2013 since the first Pay Period of 2013 begins on 16DEC12. Am I seeing this wrong or will I still recieve payout for a total of 448 hours AL if I retired on 2JAN13? Thanks for your advice.
Ed Zurndorfer  
#2 Posted : Monday, April 02, 2012 11:12:14 AM(UTC)
Ed Zurndorfer

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Joined: 9/10/2001(UTC)
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The 2012 leave year ends on Saturday, Jan. 12, 2013. If you were to retire on Sat. Dec. 29, 2012 (the end of pay period 26) and assuming you carried over into leave year 2012 240 hours of unused annual leave from leave year 2011 and you did use any annual leave during 2012, you would get paid for 448 hours of unused annual leave (240 hours carryover plus 208 hours of accrued and unused annual leave). 

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