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Retirement Planning


Whether you are close to federal employee retirement or just starting out in your career, this is the place to share ideas with your federal colleagues on creating a secure financial foundation.


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Marty  
#1 Posted : Tuesday, March 17, 2020 12:38:12 PM(UTC)
Marty

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I work a Monday-Thursday 4/10 compressed work schedule (CWS). My last scheduled work day for Pay Period 27 in 2020 is Thursday, 12/31/2020.

The in-lieu 2021 New Year's holiday for this work schedule also falls on Thursday, 12/31/2020.

If I decide to retire on 12/31/2020, (A) is that day a paid time-off holiday for me, or (B) would I have to work that day? In either scenario, I'll have accounted for 80 hours as of 12/31/2020, so would I receive annual and sick leave credit for this final pay period? If your answer is (B), what would happen if my duty station was closed that day because everyone there works the same compressed work schedule?

Note: A similar situation occurs for the folks working a regular work schedule and want to retire on Friday, December 31, 2021.

Thank you.
postalvet  
#2 Posted : Tuesday, March 17, 2020 1:39:54 PM(UTC)
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Originally Posted by: Marty Go to Quoted Post
I work a Monday-Thursday 4/10 compressed work schedule (CWS). My last scheduled work day for Pay Period 27 in 2020 is Thursday, 12/31/2020.

The in-lieu 2021 New Year's holiday for this work schedule also falls on Thursday, 12/31/2020.

If I decide to retire on 12/31/2020, (A) is that day a paid time-off holiday for me, or (B) would I have to work that day? In either scenario, I'll have accounted for 80 hours as of 12/31/2020, so would I receive annual and sick leave credit for this final pay period? If your answer is (B), what would happen if my duty station was closed that day because everyone there works the same compressed work schedule?

Note: A similar situation occurs for the folks working a regular work schedule and want to retire on Friday, December 31, 2021.

Thank you.


are you fers or csrs?
Roger.D  
#3 Posted : Tuesday, March 17, 2020 3:16:20 PM(UTC)
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Ed would be the expert on the subject.
Socialist governments traditionally do make a financial mess. They always run out of other people’s money. --Margaret Thatcher
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