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Retirement Planning


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jayerose  
#1 Posted : Saturday, June 01, 2019 7:43:19 PM(UTC)

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How long must you be in a grade/step to count that salary in your high 3?

Example, I get a step increase in April 2020...would that new salary count in my high 3 if I retired that same month or shortly after?

thank you,
Endless Summer  
#2 Posted : Saturday, June 01, 2019 9:22:07 PM(UTC)
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Originally Posted by: jayerose Go to Quoted Post
How long must you be in a grade/step to count that salary in your high 3?

Example, I get a step increase in April 2020...would that new salary count in my high 3 if I retired that same month or shortly after?

thank you,


My understanding is it is your highest three consecutive years... It is your annual pay they look at, not the highest step. Your salary would be the lower step for Jan-April and the higher step for the rest of the calendar year.
TheRealOrange  
#3 Posted : Monday, June 03, 2019 2:43:14 AM(UTC)
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Originally Posted by: jayerose Go to Quoted Post
How long must you be in a grade/step to count that salary in your high 3?

Example, I get a step increase in April 2020...would that new salary count in my high 3 if I retired that same month or shortly after?

thank you,

Yes, it would count, but only for the time actually worked at that salary amount. So, as Endless Summer indicated, if you were at that salary level for just a month or two, it would have very little effect on your high-3 pay calculation. Assuming you were at that pay level for 2 months, your high-3 would be calculated at your previous pay rates for 34 months and the new rate for the last two months (assuming the pay rate for your last three years is your highest three years).
Raoul  
#4 Posted : Monday, June 03, 2019 3:20:07 AM(UTC)

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That's the way I understood it.
The latest month worked gets added to the calculation and the monthly pay from 37 months ago falls out of the calculation.
The high three creeps up ever so slowly each month.
Retired July 2011
Endless Summer  
#5 Posted : Monday, June 03, 2019 12:27:58 PM(UTC)
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Originally Posted by: Raoul Go to Quoted Post
That's the way I understood it.
The latest month worked gets added to the calculation and the monthly pay from 37 months ago falls out of the calculation.
The high three creeps up ever so slowly each month.


I learned something valuable in this post. I'd always assumed it was by calendar year, but after checking I find that's not the case. Interesting.
Raoul  
#6 Posted : Monday, June 03, 2019 4:35:18 PM(UTC)

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Originally Posted by: Endless Summer Go to Quoted Post

I learned something valuable in this post. I'd always assumed it was by calendar year, but after checking I find that's not the case. Interesting.


Yeah, a more accurate description would be if it was called 'High 36' instead of 'High 3'.

Retired July 2011
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