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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 : Thursday, April 25, 2019 4:11:28 AM(UTC)

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I'm a CSRS employee, planning to retire Jan 3rd 2020. The 2019 pay year ends on Dec 21, after which all my pay allotments (FEGLI, FEHB, Tax With Holdings. TSP ect..) will reset to zero. Since my last 2 weeks of service will actually be my first pay counting towards the 2020 pay year, I assume I can submit a change to my TSP contribution amount, so that most if not all of that final check goes to my TSP? What about my unused lump sum of annual leave payment. Is there anyway to direct that as a TSP contribution if desired? Thanks.
Ed Zurndorfer  
#2 Posted : Friday, May 24, 2019 10:30:32 AM(UTC)
Ed Zurndorfer

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For most federal agencies, pay period 25 for the 2019 leave year ends on December 21, 2019. Pay period begins on Sunday December 22, 2019 and ends on Saturday January 4, 2020. If you retire on January 3, 2020, then you will be paid for that pay period sometime in January 2020. This means that can contribute almost all of your last paycheck to the TSP. This is the case even if you maximized your 2019 TSP contributions. You cannot, however, contribute any of your lump sum payment for unused annual leave hour hours to the TSP.
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