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Retirement Planning


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SSN637  
#1 Posted : Tuesday, September 14, 2021 3:52:26 AM(UTC)
SSN637

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Question I am CSRS and trying to figure out which day to retire and still get payed for my 200 hours U/L leave. If I retire 31 Dec 20 i will get my U/L, but how will it affect my retirement annuity payment date? If I retire 1 Jan 22 (end of the leave year) I should get my annuity payment 1 Feb 22 correct?
Raoul  
#2 Posted : Tuesday, September 14, 2021 4:27:47 AM(UTC)

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CSRS can retire the the last day of the month or 1,2,3 day of the next month without 'missing' a month of retirement pay.
To earn AL and SL you have to be employed the enitire pay period, so Friday Dec 31st would not be so good.
Since you have lose or use the 2nd or 3rd of January would also be bad.
The January 1st (Sat) retirement date would ensure period leave accrual and no lose of U/L.


Retired July 2011
TheRealOrange  
#3 Posted : Tuesday, September 14, 2021 4:47:30 AM(UTC)
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Originally Posted by: SSN637 Go to Quoted Post
Question I am CSRS and trying to figure out which day to retire and still get payed for my 200 hours U/L leave. If I retire 31 Dec 20 i will get my U/L, but how will it affect my retirement annuity payment date? If I retire 1 Jan 22 (end of the leave year) I should get my annuity payment 1 Feb 22 correct?

The article linked below has this information:

CSRS employees (including CSRS Offset employees) who are eligible to retire and who retire on the first, second, or third day of the month will have their retirement become effective on the next day of that month, and their first retirement check will be dated the first day of the following month. For example, if a CSRS or a CSRS Offset employee retired on Jan. 2, 2021, then the employee’s retirement became effective on Jan. 3, 2021.

https://www.myfederalret...t.com/best-dates-retire/

It appears that if you retire on January 1, 2022, then your retirement is effective the next day, and your first annuity check will be dated February 1, 2022. To be sure, I would recommend double checking with your servicing HR personnel.
someoldguy  
#4 Posted : Tuesday, September 14, 2021 7:02:20 AM(UTC)
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Originally Posted by: TheRealOrange Go to Quoted Post
[...our first annuity check will be dated February 1, 2022.
Of course you won't see it for some time after that, and the first payments will be a partial estimate, but eventually you should get back pay retroactive to that date.

DISCLAIMER: You read it on an open internet forum :)
SSN637  
#5 Posted : Tuesday, September 14, 2021 10:32:25 AM(UTC)
SSN637

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Thanks for the replies, I thought I was right just not sure about the annuity date.
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