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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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RedDirt  
#1 Posted : Wednesday, January 23, 2019 8:38:54 AM(UTC)
RedDirt

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I can across this article on govexec and basically it states you can after age 62 use sick to make your 20 years for 1.1%. What do you think?

https://www.govexec.com/...ner-you-expected/146011/

Ed Zurndorfer  
#2 Posted : Wednesday, January 23, 2019 8:43:50 AM(UTC)

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Completely agree with the article - unused sick leave can be used for meeting the minimum 20 year and post-age 62 requirements in order to use the 1.1 per cent accrual rate in calculating the FERS annuity.
TheRealOrange  
#3 Posted : Wednesday, January 23, 2019 8:54:11 AM(UTC)
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Originally Posted by: RedDirt Go to Quoted Post
I can across this article on govexec and basically it states you can after age 62 use sick to make your 20 years for 1.1%. What do you think?

https://www.govexec.com/...ner-you-expected/146011/


As far as I can recall, the information in that article is consistent with Ed Zurndorfer's past guidance on this forum. Since a person who is 62 years old is eligible to retire with an immediate annuity with 5 years of creditable service, the sick leave is not being used to add to actual years of service for the purposes of determining retirement eligibility. With respect to the 1.1% multiplier, the sick leave can be used to reach the 20-year threshold because it is being used only in determining years of service to compute the annuity amount (i.e., it is simply adding the months and days of sick leave to the months and days of all periods of actual service).
Ed Zurndorfer  
#4 Posted : Wednesday, January 23, 2019 10:40:20 AM(UTC)

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