Federal Employees, leading up to retirement?

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TresBelle65
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Re: Federal Employees, leading up to retirement?

Post by TresBelle65 » Fri Mar 02, 2018 6:40 pm

As a taxpayer, I regard using hundreds of hours of sick leave in the few months prior to retirement as abuse or even fraud. Sick leave is for being sick.

Actually, it's intended to cover several different types of situations, in addition to employee illness. Bereavement, medical appointments, dental appointments, elective medical and dental treatments, caregiving for certain family members, disability (since Fed employees don't have that benefit).etc

Gray
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Re: Federal Employees, leading up to retirement?

Post by Gray » Fri Mar 02, 2018 9:22 pm

nova1968 wrote:
Tue Feb 27, 2018 9:25 am
Gray wrote:
Sun Feb 25, 2018 7:41 pm
I hope to have around 2,772 hours of sick leave by the time I retire. I stopped using sick leave some time ago. So I’ll retire with 40+ years, but only 38.x from working.

My wife and I both have FERS and she can retire a year earlier than me with 40 years. This is far, far off in the future but it helps to think ahead. Take care of your body, mind, and teeth!
I believe you only get an additional 1% added to your annuity for the sick leave unlike unused annual leave where you are compensated for the entire amount. Not sure what your retirement rank is but hypothetically speaking suppose your pension is 50K annually, at 1% that's an year an extra $500 a year. For 30 years that's $15,000 ( $15,000/2772) is $5.41 an hour, I would rather use the sick leave. I retire 9/30/2018 with only 40 hours on the books which I intend to use.
Remember, Feds don’t have short-term disability, so amassing sick leave is a no-cost insurance policy. Besides, I have fortunately been healthy. Being in the 8hr AL category, it’s no big deal to use some AL for sick days.

I am considering one of the AFSPA disability policies or something similar. Maybe after college is done.

DrGoogle2017
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Re: Federal Employees, leading up to retirement?

Post by DrGoogle2017 » Fri Mar 02, 2018 9:30 pm

Actually my husband didn’t get any money for his sick leave, there is a special rule for sick leave, he didn’t qualify. He had lots of them.

delamer
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Re: Federal Employees, leading up to retirement?

Post by delamer » Fri Mar 02, 2018 10:17 pm

DrGoogle2017 wrote:
Fri Mar 02, 2018 9:30 pm
Actually my husband didn’t get any money for his sick leave, there is a special rule for sick leave, he didn’t qualify. He had lots of them.
Up to a couple years ago if you retired under FERS, you got either no or reduced credit for sick leave.

DrGoogle2017
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Re: Federal Employees, leading up to retirement?

Post by DrGoogle2017 » Fri Mar 02, 2018 11:15 pm

delamer wrote:
Fri Mar 02, 2018 10:17 pm
DrGoogle2017 wrote:
Fri Mar 02, 2018 9:30 pm
Actually my husband didn’t get any money for his sick leave, there is a special rule for sick leave, he didn’t qualify. He had lots of them.
Up to a couple years ago if you retired under FERS, you got either no or reduced credit for sick leave.
http://www.fedweek.com/retirement-finan ... -benefits/

According to the above link, you need to have worked 20 years, my husband only worked 6 years.

MnD
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Re: Federal Employees, leading up to retirement?

Post by MnD » Sat Mar 03, 2018 9:49 am

I'll be retiring later this year with 2450 hours of unused sick leave which will add 1 year 2 months to my service which equates to almost 3.5% increase in my pension for life including joint-life survivors pension benefits. It has served as a substitute for a short-term disability policy for decades (more like short to medium term disability benefit towards the end of my career). That is especially important given that feds don't have an employer benefit option for short-term disability coverage. I used it when I was sick and am thrilled I didn't have to use much of it and appreciate the benefit for the unused balance.

I know feds with 2 digit sick leave balances after decades of service and I don't have much respect for that aspect of their career decision making. Managers know _exactly_ who on their staff "burn" sick leave as additional PTO and which ones don't. The distribution is quite binary. It can't help but negatively bias their opinion about those individuals that abuse the benefit. So the cost of burning sick leave can be much higher than employees might think in terms of being passed over for promotions, advancement and awards.

delamer
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Re: Federal Employees, leading up to retirement?

Post by delamer » Sat Mar 03, 2018 11:46 am

DrGoogle2017 wrote:
Fri Mar 02, 2018 11:15 pm
delamer wrote:
Fri Mar 02, 2018 10:17 pm
DrGoogle2017 wrote:
Fri Mar 02, 2018 9:30 pm
Actually my husband didn’t get any money for his sick leave, there is a special rule for sick leave, he didn’t qualify. He had lots of them.
Up to a couple years ago if you retired under FERS, you got either no or reduced credit for sick leave.
http://www.fedweek.com/retirement-finan ... -benefits/

According to the above link, you need to have worked 20 years, my husband only worked 6 years.
I think you are misreading the link. It says that there is an increase in the credit from 1% per year to 1.1% if you have 20 years service and are over 62. Not that you only get the credit if you have 20 years.

Also, you only get credit in full months. So you’d need something like 174 hours of sick leave to get one month of credit.

How long ago did your husband retire?

delamer
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Re: Federal Employees, leading up to retirement?

Post by delamer » Sat Mar 03, 2018 11:51 am

MnD wrote:
Sat Mar 03, 2018 9:49 am
I'll be retiring later this year with 2450 hours of unused sick leave which will add 1 year 2 months to my service which equates to almost 3.5% increase in my pension for life including joint-life survivors pension benefits. It has served as a substitute for a short-term disability policy for decades (more like short to medium term disability benefit towards the end of my career). That is especially important given that feds don't have an employer benefit option for short-term disability coverage. I used it when I was sick and am thrilled I didn't have to use much of it and appreciate the benefit for the unused balance.

I know feds with 2 digit sick leave balances after decades of service and I don't have much respect for that aspect of their career decision making. Managers know _exactly_ who on their staff "burn" sick leave as additional PTO and which ones don't. The distribution is quite binary. It can't help but negatively bias their opinion about those individuals that abuse the benefit. So the cost of burning sick leave can be much higher than employees might think in terms of being passed over for promotions, advancement and awards.
Excellent comment.

I did not save nearly as much sick leave due to using it for maternity leave and when my kids were sick. But I did have a few months saved when I retired and thought of my stash as short-term disability coverage.

DrGoogle2017
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Re: Federal Employees, leading up to retirement?

Post by DrGoogle2017 » Sat Mar 03, 2018 11:53 am

delamer wrote:
Sat Mar 03, 2018 11:46 am
DrGoogle2017 wrote:
Fri Mar 02, 2018 11:15 pm
delamer wrote:
Fri Mar 02, 2018 10:17 pm
DrGoogle2017 wrote:
Fri Mar 02, 2018 9:30 pm
Actually my husband didn’t get any money for his sick leave, there is a special rule for sick leave, he didn’t qualify. He had lots of them.
Up to a couple years ago if you retired under FERS, you got either no or reduced credit for sick leave.
http://www.fedweek.com/retirement-finan ... -benefits/

According to the above link, you need to have worked 20 years, my husband only worked 6 years.
I think you are misreading the link. It says that there is an increase in the credit from 1% per year to 1.1% if you have 20 years service and are over 62. Not that you only get the credit if you have 20 years.

Also, you only get credit in full months. So you’d need something like 174 hours of sick leave to get one month of credit.

How long ago did your husband retire?
I know my husband didn’t get his sick leave credit and he retired in 2016. I think from my research, it has to be in multiple of one month. Maybe 174 hours for one month. If you have less than that you get no credit.

TresBelle65
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Re: Federal Employees, leading up to retirement?

Post by TresBelle65 » Sat Mar 03, 2018 11:57 am

Managers know _exactly_ who on their staff "burn" sick leave as additional PTO and which ones don't. The distribution is quite binary

Especially for those who are using it to recover from burnout resulting from uncompensated overtime.

DrGoogle2017
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Re: Federal Employees, leading up to retirement?

Post by DrGoogle2017 » Sat Mar 03, 2018 11:59 am

So what if they know, some of them are just as corrupted.

2cents2
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Re: Federal Employees, leading up to retirement?

Post by 2cents2 » Sat Mar 03, 2018 1:37 pm

DrGoogle2017 wrote:
Fri Mar 02, 2018 11:15 pm

I know my husband didn’t get his sick leave credit and he retired in 2016. I think from my research, it has to be in multiple of one month. Maybe 174 hours for one month. If you have less than that you get no credit.

Yes, you are correct-- it only counts in whole month increments. If a person has odd days left, it is best to use them for things you would ordinarily use SL for before you retire. It is too late for your DH since he is already retired. But, it might be helpful for someone who hasn't retired yet. Since they use the 174 hours for the average month ( 2087 hour work year) --one has to be real careful when calculating left over days.


http://www.federalretirement.net/sickleave.htm

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dm200
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Re: Federal Employees, leading up to retirement?

Post by dm200 » Sat Mar 03, 2018 3:38 pm

2cents2 wrote:
Sat Mar 03, 2018 1:37 pm
DrGoogle2017 wrote:
Fri Mar 02, 2018 11:15 pm
I know my husband didn’t get his sick leave credit and he retired in 2016. I think from my research, it has to be in multiple of one month. Maybe 174 hours for one month. If you have less than that you get no credit.
Yes, you are correct-- it only counts in whole month increments. If a person has odd days left, it is best to use them for things you would ordinarily use SL for before you retire. It is too late for your DH since he is already retired. But, it might be helpful for someone who hasn't retired yet. Since they use the 174 hours for the average month ( 2087 hour work year) --one has to be real careful when calculating left over days.
http://www.federalretirement.net/sickleave.htm
If you are honest and only use sick leave when you are sick - why would you count the leftover days?

delamer
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Re: Federal Employees, leading up to retirement?

Post by delamer » Sat Mar 03, 2018 3:48 pm

dm200 wrote:
Sat Mar 03, 2018 3:38 pm
2cents2 wrote:
Sat Mar 03, 2018 1:37 pm
DrGoogle2017 wrote:
Fri Mar 02, 2018 11:15 pm
I know my husband didn’t get his sick leave credit and he retired in 2016. I think from my research, it has to be in multiple of one month. Maybe 174 hours for one month. If you have less than that you get no credit.
Yes, you are correct-- it only counts in whole month increments. If a person has odd days left, it is best to use them for things you would ordinarily use SL for before you retire. It is too late for your DH since he is already retired. But, it might be helpful for someone who hasn't retired yet. Since they use the 174 hours for the average month ( 2087 hour work year) --one has to be real careful when calculating left over days.
http://www.federalretirement.net/sickleave.htm
If you are honest and only use sick leave when you are sick - why would you count the leftover days?
Over the course of their careers, some people use annual leave for absences that qualify for sick leave in order to conserve sick leave.

But if you have a “sick leave qualified absence” the month before you retire and you know you won’t get retirement credit for your sick leave, then why not use it?

It is not dishonest, anymore than delaying Social Security until you are 70 is dishonest. It is just using the system to your best advantage.

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dm200
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Re: Federal Employees, leading up to retirement?

Post by dm200 » Sat Mar 03, 2018 4:01 pm

Over the course of their careers, some people use annual leave for absences that qualify for sick leave in order to conserve sick leave.
But if you have a “sick leave qualified absence” the month before you retire and you know you won’t get retirement credit for your sick leave, then why not use it?
It is not dishonest, anymore than delaying Social Security until you are 70 is dishonest. It is just using the system to your best advantage.


Delaying Social Security is a clearcut choice the retire makes.

Taking sick leave states or implies that you are "sick". If you are not "sick", but take sick leave, I call that dishonest. [Possibly there may be other fully legitimate use(s) of sick leave]

BIG difference ...

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mrc
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Re: Federal Employees, leading up to retirement?

Post by mrc » Sat Mar 03, 2018 4:03 pm

I'm getting a sense that some people may think federal employees are somehow able to rip off honest taxpayers by using sick leave for nefarious purposes.

First, remember, federal workers are also themselves honest taxpayers.

Second, my spouse is a fed and I know very few people who work harder than she does.

Third, sick leave is considered an entitlement for federal workers, and in general total compensation for federal workers is lower than for workers in the private sector performing comparable duties. By design.

Last, this text from the OPM website defines the purposes of sick leave and notes that there is no limit to the amount that can be accumulated. Also, how leftover sick leave is converted into the retirement annuity. By design.

Fact Sheet: Sick Leave (General Information)

Sick Leave Entitlement

Sick leave is a paid absence from duty. An employee is entitled to use sick leave for-

personal medical needs
family care or bereavement
care of a family member with a serious health condition
adoption-related purposes

Sick Leave Accrual Description Time
Full-time employees 1/2 day (4 hours) for each biweekly pay period
Part-time employees 1 hour for each 20 hours in a pay status
Uncommon tours of duty (4 hours) times (average # of hours per biweekly pay period) divided by 80 = biweekly accrual rate
Sick Leave Accumulation

There is no limitation on the amount of sick leave that can be accumulated.

Sick Leave Used in the Computation of an Annuity

Unused sick leave will be used in the calculation of an employee's or survivor's annuity based on retirement with an immediate annuity or on a death in service. For employees covered by the Civil Service Retirement System (CSRS), credit toward the annuity computation will be based on the full sick leave balance at retirement or death. For employees covered by the Federal Employees Retirement System (FERS), credit toward the annuity computation will be based upon a percentage of the sick leave balance at retirement or death, depending on the date the entitlement to the annuity began-

50 percent in the case of an annuity entitlement based on a separation from service from October 28, 2009, through
December 31, 2013; and
100 percent in the case of an annuity entitlement based on a separation from service occurring on or after January 1, 2014.
People often hate what they fear

delamer
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Re: Federal Employees, leading up to retirement?

Post by delamer » Sat Mar 03, 2018 4:10 pm

dm200 wrote:
Sat Mar 03, 2018 4:01 pm
Over the course of their careers, some people use annual leave for absences that qualify for sick leave in order to conserve sick leave.
But if you have a “sick leave qualified absence” the month before you retire and you know you won’t get retirement credit for your sick leave, then why not use it?
It is not dishonest, anymore than delaying Social Security until you are 70 is dishonest. It is just using the system to your best advantage.


Delaying Social Security is a clearcut choice the retire makes.

Taking sick leave states or implies that you are "sick". If you are not "sick", but take sick leave, I call that dishonest. [Possibly there may be other fully legitimate use(s) of sick leave]

BIG difference ...
You seem to be assuming that the sick leave is being used illegitimately. Deciding whether to use sick leave, annual leave, or leave-without-pay is also a “clearcut choice” if the time off is eligible under the sick leave policy:

An employee is entitled to use sick leave when he or she:
*receives medical, dental, or optical examination or treatment;
*is incapacitated for the performance of duties by physical or mental illness, injury, pregnancy, or childbirth; or
*would, as determined by the health authorities having jurisdiction or by a health care provider, jeopardize the health of others by his or her presence on the job because of exposure to a communicable disease.


The same conditions apply for caring for a family member and also to attend the funeral of a family member (no bereavement leave for federal employees).

So if I need a root canal, I can either take sick leave or annual leave (or LWOP) to go to my appointment. Nothing dishonest about using one option over the other.
Last edited by delamer on Sat Mar 03, 2018 4:15 pm, edited 1 time in total.

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dm200
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Re: Federal Employees, leading up to retirement?

Post by dm200 » Sat Mar 03, 2018 4:15 pm

You seem to be assuming that the sick leave is being used illegitimately. Here is the sick leave policy:
An employee is entitled to use sick leave when he or she:
*receives medical, dental, or optical examination or treatment;
*is incapacitated for the performance of duties by physical or mental illness, injury, pregnancy, or childbirth; or
*would, as determined by the health authorities having jurisdiction or by a health care provider, jeopardize the health of others by his or her presence on the job because of exposure to a communicable disease.[\i]
The same conditions apply for caring for a family member and also to attend the funeral of a family member (no bereavement leave for federal employees).
So if I need a root canal, I can either take sick leave or annual leave to go to my appointment. Nothing dishonest about using either option.
The clear implication of most of this discussion (by proponents of using sick leave) is not all within the alowable rukes. I agree that, on occasion, federal employees may choose to use annual leave when they could use sick leave.

It is not clear to me (from your post) that it is fully within the letter of the rules to use your own sick leave to care for a family member or for a funeral. Maybe it is - but, if so, can you cite a reference?

delamer
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Re: Federal Employees, leading up to retirement?

Post by delamer » Sat Mar 03, 2018 4:17 pm

dm200 wrote:
Sat Mar 03, 2018 4:15 pm
You seem to be assuming that the sick leave is being used illegitimately. Here is the sick leave policy:
An employee is entitled to use sick leave when he or she:
*receives medical, dental, or optical examination or treatment;
*is incapacitated for the performance of duties by physical or mental illness, injury, pregnancy, or childbirth; or
*would, as determined by the health authorities having jurisdiction or by a health care provider, jeopardize the health of others by his or her presence on the job because of exposure to a communicable disease.[\i]
The same conditions apply for caring for a family member and also to attend the funeral of a family member (no bereavement leave for federal employees).
So if I need a root canal, I can either take sick leave or annual leave to go to my appointment. Nothing dishonest about using either option.
The clear implication of most of this discussion (by proponents of using sick leave) is not all within the alowable rukes. I agree that, on occasion, federal employees may choose to use annual leave when they could use sick leave.

It is not clear to me (from your post) that it is fully within the letter of the rules to use your own sick leave to care for a family member or for a funeral. Maybe it is - but, if so, can you cite a reference?
Yes, here:

https://www.opm.gov/policy-data-oversig ... -purposes/

Note that the family use is limited to 13 days per year.

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dm200
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Re: Federal Employees, leading up to retirement?

Post by dm200 » Sat Mar 03, 2018 4:24 pm

Yes, here:
https://www.opm.gov/policy-data-oversig ... -purposes/
Note that the family use is limited to 13 days per year.
OK - thanks.

trueblueky
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Re: Federal Employees, leading up to retirement?

Post by trueblueky » Sat Mar 03, 2018 4:36 pm

delamer wrote:
Sat Mar 03, 2018 4:10 pm
dm200 wrote:
Sat Mar 03, 2018 4:01 pm
Over the course of their careers, some people use annual leave for absences that qualify for sick leave in order to conserve sick leave.
But if you have a “sick leave qualified absence” the month before you retire and you know you won’t get retirement credit for your sick leave, then why not use it?
It is not dishonest, anymore than delaying Social Security until you are 70 is dishonest. It is just using the system to your best advantage.


Delaying Social Security is a clearcut choice the retire makes.

Taking sick leave states or implies that you are "sick". If you are not "sick", but take sick leave, I call that dishonest. [Possibly there may be other fully legitimate use(s) of sick leave]

BIG difference ...
You seem to be assuming that the sick leave is being used illegitimately. Deciding whether to use sick leave, annual leave, or leave-without-pay is also a “clearcut choice” if the time off is eligible under the sick leave policy:

An employee is entitled to use sick leave when he or she:
*receives medical, dental, or optical examination or treatment;
*is incapacitated for the performance of duties by physical or mental illness, injury, pregnancy, or childbirth; or
*would, as determined by the health authorities having jurisdiction or by a health care provider, jeopardize the health of others by his or her presence on the job because of exposure to a communicable disease.


The same conditions apply for caring for a family member and also to attend the funeral of a family member (no bereavement leave for federal employees).

So if I need a root canal, I can either take sick leave or annual leave (or LWOP) to go to my appointment. Nothing dishonest about using one option over the other.
I always used annual leave (or travel comp time when that became available. Before there was travel comp, we flew on Sunday with no compensation under the notion that flying all day, changing airports twice and driving to a remote site wasn't work, but I digress.)

The reasoning, as I explained earlier, is that I saw a case early in my career where sick leave amounted to disability insurance.

When I had employees who I suspected of sick leave abuse, I gave them leave restriction letters, tightening the rules on substantiation.

I had one employee who could not make it to work on the Monday after the local NFL team had a home game. First offense, counseling. Second, leave restriction letter in their file. Third offense, one day without pay (a Wednesday because HR was not about to provide a three-day weekend). Fourth offense, Tues-Thur without pay. Season ended. Employee had enough sense to find other employment before the next year.

delamer
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Re: Federal Employees, leading up to retirement?

Post by delamer » Sat Mar 03, 2018 4:40 pm

trueblueky wrote:
Sat Mar 03, 2018 4:36 pm
delamer wrote:
Sat Mar 03, 2018 4:10 pm
dm200 wrote:
Sat Mar 03, 2018 4:01 pm
Over the course of their careers, some people use annual leave for absences that qualify for sick leave in order to conserve sick leave.
But if you have a “sick leave qualified absence” the month before you retire and you know you won’t get retirement credit for your sick leave, then why not use it?
It is not dishonest, anymore than delaying Social Security until you are 70 is dishonest. It is just using the system to your best advantage.


Delaying Social Security is a clearcut choice the retire makes.

Taking sick leave states or implies that you are "sick". If you are not "sick", but take sick leave, I call that dishonest. [Possibly there may be other fully legitimate use(s) of sick leave]

BIG difference ...
You seem to be assuming that the sick leave is being used illegitimately. Deciding whether to use sick leave, annual leave, or leave-without-pay is also a “clearcut choice” if the time off is eligible under the sick leave policy:

An employee is entitled to use sick leave when he or she:
*receives medical, dental, or optical examination or treatment;
*is incapacitated for the performance of duties by physical or mental illness, injury, pregnancy, or childbirth; or
*would, as determined by the health authorities having jurisdiction or by a health care provider, jeopardize the health of others by his or her presence on the job because of exposure to a communicable disease.


The same conditions apply for caring for a family member and also to attend the funeral of a family member (no bereavement leave for federal employees).

So if I need a root canal, I can either take sick leave or annual leave (or LWOP) to go to my appointment. Nothing dishonest about using one option over the other.
I always used annual leave (or travel comp time when that became available. Before there was travel comp, we flew on Sunday with no compensation under the notion that flying all day, changing airports twice and driving to a remote site wasn't work, but I digress.)

The reasoning, as I explained earlier, is that I saw a case early in my career where sick leave amounted to disability insurance.

When I had employees who I suspected of sick leave abuse, I gave them leave restriction letters, tightening the rules on substantiation.

I had one employee who could not make it to work on the Monday after the local NFL team had a home game. First offense, counseling. Second, leave restriction letter in their file. Third offense, one day without pay (a Wednesday because HR was not about to provide a three-day weekend). Fourth offense, Tues-Thur without pay. Season ended. Employee had enough sense to find other employment before the next year.
So s/he tried to take sick leave for post-game recovery?!

bayview
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Re: Federal Employees, leading up to retirement?

Post by bayview » Sat Mar 03, 2018 4:46 pm

dm200 wrote:
Sat Mar 03, 2018 3:38 pm
2cents2 wrote:
Sat Mar 03, 2018 1:37 pm
DrGoogle2017 wrote:
Fri Mar 02, 2018 11:15 pm
I know my husband didn’t get his sick leave credit and he retired in 2016. I think from my research, it has to be in multiple of one month. Maybe 174 hours for one month. If you have less than that you get no credit.
Yes, you are correct-- it only counts in whole month increments. If a person has odd days left, it is best to use them for things you would ordinarily use SL for before you retire. It is too late for your DH since he is already retired. But, it might be helpful for someone who hasn't retired yet. Since they use the 174 hours for the average month ( 2087 hour work year) --one has to be real careful when calculating left over days.
http://www.federalretirement.net/sickleave.htm
If you are honest and only use sick leave when you are sick - why would you count the leftover days?
Because each increment of 174 hrs adds a month to your calculated service time, increasing your pension a bit. Did you want feds to shrug off some of their possible pension amount?

Timing federal retirement can be a bit of an adventure. It's a bit arcane, to say the least.

Unused annual leave (vacation) is paid back in a lump sum (with full taxes withheld) when you retire and are wandering around, wondering when your pension will ever start.

Unused sick leave can increase your "time served" (a wonderful double-entendre) to eventually increase your pension.

^^ the above is true for FERS retirees
The continuous execution of a sound strategy gives you the benefit of the strategy. That's what it's all about. --Rick Ferri

2cents2
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Re: Federal Employees, leading up to retirement?

Post by 2cents2 » Sat Mar 03, 2018 5:20 pm

dm200 wrote:
Sat Mar 03, 2018 3:38 pm
2cents2 wrote:
Sat Mar 03, 2018 1:37 pm
DrGoogle2017 wrote:
Fri Mar 02, 2018 11:15 pm
I know my husband didn’t get his sick leave credit and he retired in 2016. I think from my research, it has to be in multiple of one month. Maybe 174 hours for one month. If you have less than that you get no credit.
Yes, you are correct-- it only counts in whole month increments. If a person has odd days left, it is best to use them for things you would ordinarily use SL for before you retire. It is too late for your DH since he is already retired. But, it might be helpful for someone who hasn't retired yet. Since they use the 174 hours for the average month ( 2087 hour work year) --one has to be real careful when calculating left over days.
http://www.federalretirement.net/sickleave.htm
If you are honest and only use sick leave when you are sick - why would you count the leftover days?
As has been previously pointed out, sick leave can be used for things other than communicable diseases such as a dental appointment, a medical appointment, surgery that has been put off because you didn't want to miss work, medical checks that are recommended for the over 50 crowd and so on.

Sick Leave Entitlement
An employee is entitled to use sick leave when he or she:
receives medical, dental, or optical examination or treatment;
is incapacitated for the performance of duties by physical or mental illness, injury, pregnancy, or childbirth; or
would, as determined by the health authorities having jurisdiction or by a health care provider, jeopardize the health of others by his or her presence on the job because of exposure to a communicable disease.
There is no limitation on the amount of accrued or accumulated sick leave that an employee can use for his or her own personal medical needs.


Sick Leave Usage Limits per Leave Year

No limitation for an employee's own personal medical needs
Up to 13 days (104 hours) of sick leave for general family care and bereavement each leave year
Up to 12 weeks (480 hours) of sick leave to care for a family member with a serious health condition each leave year


https://www.opm.gov/policy-data-oversig ... formation/

You could also use sick leave for Fact Sheet: Sick Leave for Adoption
https://www.opm.gov/policy-data-oversig ... -adoption/

You can also use sick leave for bone marrow/organ transplantation.
Last edited by 2cents2 on Sat Mar 03, 2018 6:27 pm, edited 1 time in total.

Barefoot
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Re: Federal Employees, leading up to retirement?

Post by Barefoot » Sat Mar 03, 2018 6:12 pm

2cents2 wrote:
Sat Mar 03, 2018 5:20 pm
If you are healthy as can be and you don't have any other need for your sick leave, you can also donate your odd days into the leave donation program.
https://www.opm.gov/policy-data-oversig ... k-program/
You can donate annual leave, not sick leave.

2cents2
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Re: Federal Employees, leading up to retirement?

Post by 2cents2 » Sat Mar 03, 2018 6:26 pm

Barefoot wrote:
Sat Mar 03, 2018 6:12 pm
2cents2 wrote:
Sat Mar 03, 2018 5:20 pm
If you are healthy as can be and you don't have any other need for your sick leave, you can also donate your odd days into the leave donation program.
https://www.opm.gov/policy-data-oversig ... k-program/
You can donate annual leave, not sick leave.
You're right- (It's been a while since I retired).-I'll remove that from the list.
Last edited by 2cents2 on Sat Mar 03, 2018 6:28 pm, edited 1 time in total.

bayview
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Re: Federal Employees, leading up to retirement?

Post by bayview » Sat Mar 03, 2018 6:27 pm

Barefoot wrote:
Sat Mar 03, 2018 6:12 pm
2cents2 wrote:
Sat Mar 03, 2018 5:20 pm
If you are healthy as can be and you don't have any other need for your sick leave, you can also donate your odd days into the leave donation program.
https://www.opm.gov/policy-data-oversig ... k-program/
You can donate annual leave, not sick leave.
+1

I routinely donate 8 hrs (one day) of AL to fellow workers. I'm always amazed at those who say that they'd like to but don't have enough saved leave (excluding new parents, who need every fraction of an hour of leave that they can get)
The continuous execution of a sound strategy gives you the benefit of the strategy. That's what it's all about. --Rick Ferri

trueblueky
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Re: Federal Employees, leading up to retirement?

Post by trueblueky » Sat Mar 03, 2018 11:13 pm

8-)
delamer wrote:
Sat Mar 03, 2018 4:40 pm
trueblueky wrote:
Sat Mar 03, 2018 4:36 pm
When I had employees who I suspected of sick leave abuse, I gave them leave restriction letters, tightening the rules on substantiation.

I had one employee who could not make it to work on the Monday after the local NFL team had a home game. First offense, counseling. Second, leave restriction letter in their file. Third offense, one day without pay (a Wednesday because HR was not about to provide a three-day weekend). Fourth offense, Tues-Thur without pay. Season ended. Employee had enough sense to find other employment before the next year.
So s/he tried to take sick leave for post-game recovery?!
Didn't take leave, didn't call, didn't show up.
Yes, I expect it was post-game recovery.

Gray
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Re: Federal Employees, leading up to retirement?

Post by Gray » Sun Mar 04, 2018 12:10 am

delamer wrote:
Sat Mar 03, 2018 3:48 pm
dm200 wrote:
Sat Mar 03, 2018 3:38 pm
2cents2 wrote:
Sat Mar 03, 2018 1:37 pm
DrGoogle2017 wrote:
Fri Mar 02, 2018 11:15 pm
I know my husband didn’t get his sick leave credit and he retired in 2016. I think from my research, it has to be in multiple of one month. Maybe 174 hours for one month. If you have less than that you get no credit.
Yes, you are correct-- it only counts in whole month increments. If a person has odd days left, it is best to use them for things you would ordinarily use SL for before you retire. It is too late for your DH since he is already retired. But, it might be helpful for someone who hasn't retired yet. Since they use the 174 hours for the average month ( 2087 hour work year) --one has to be real careful when calculating left over days.
http://www.federalretirement.net/sickleave.htm
If you are honest and only use sick leave when you are sick - why would you count the leftover days?
Over the course of their careers, some people use annual leave for absences that qualify for sick leave in order to conserve sick leave.

But if you have a “sick leave qualified absence” the month before you retire and you know you won’t get retirement credit for your sick leave, then why not use it?

It is not dishonest, anymore than delaying Social Security until you are 70 is dishonest. It is just using the system to your best advantage.
Some, and most likely most, Federal agencies won't care about the use of sick leave in the period leading up to retirement provided you're not a leave abuser (and if you've got a few thousand hours of SL, it's safe to say you aren't). Why stir up trouble relating to someone walking out the door?

From my perspective, in the last year before retirement, the use of leave flips from preserving SL to preserving AL (which is paid out in $). Once you compute the balance of sick leave projected for your target retirement date, you can then identify the number of sick leave hours you can use without cutting into one of the whole months for computing your service period. This figure is your leave balance to work with during your final year.

If you time your retirement date right, you can get paid for as many as 448 hours of unused annual leave (240 hour carryover and in the current leave year, accruing 8 hours each pay period for 26 pay periods or 208 hours and not using any annual leave hours). That’s the equivalent of getting a buyout. Because you retire just inside the next calendar (tax) year, the payout will be potentially taxed at a lower rate. Not a bad deal.

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dm200
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Re: Federal Employees, leading up to retirement?

Post by dm200 » Sun Mar 04, 2018 9:18 am

Some, and most likely most, Federal agencies won't care about the use of sick leave in the period leading up to retirement provided you're not a leave abuser (and if you've got a few thousand hours of SL, it's safe to say you aren't). Why stir up trouble relating to someone walking out the door?
Because it is the equivqalent of stealing from the taxpayers...

federal dinosaur
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Re: Federal Employees, leading up to retirement?

Post by federal dinosaur » Sun Mar 04, 2018 10:10 am

dm200..... as previously highlighted, the use of Sick Leave is part a federal employee's pension benefits. Sick Leave balance/time is calculated in defining the FERS pension monthly benefit which relates to a monetary value/per month for the remaining lifetime of the retired fed employee. Ask any boglehead about small, incremental savings over a lifetime and whether that can make a difference.

Let's look at it this way. If you are an employee for a private company, wouldn't you utilize prudence & care in any choice you make regarding the authorized use of Sick Leave prior to retirement? And if how you use your Sick Leave will impact your own monthly pension benefit.... I'll bet that you would think carefully about the personal value of this choice and apply it to your own decision(s).

I have always been a federal gov't employee, so my knowledge of the varied uses of Sick Leave in private industry & practice is limited. I will bet that the definition of Sick Leave is loosely defined in some companies and tightly defined in others. The guidance for federal employees is available for all to view & interpret. The federal gov't has been a great employer for me. I follow the rules as best I can.

I fully support utilizing Sick Leave in accordance with the established written guidelines or labor agreement. I do note however, that each employee's internal guidance regarding work ethic and honor can vary widely. This applies to both feds & non-feds.

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dm200
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Re: Federal Employees, leading up to retirement?

Post by dm200 » Sun Mar 04, 2018 10:24 am

federal dinosaur wrote:
Sun Mar 04, 2018 10:10 am
dm200..... as previously highlighted, the use of Sick Leave is part a federal employee's pension benefits. Sick Leave balance/time is calculated in defining the FERS pension monthly benefit which relates to a monetary value/per month for the remaining lifetime of the retired fed employee. Ask any boglehead about small, incremental savings over a lifetime and whether that can make a difference.
Let's look at it this way. If you are an employee for a private company, wouldn't you utilize prudence & care in any choice you make regarding the authorized use of Sick Leave prior to retirement? And if how you use your Sick Leave will impact your own monthly pension benefit.... I'll bet that you would think carefully about the personal value of this choice and apply it to your own decision(s).
I have always been a federal gov't employee, so my knowledge of the varied uses of Sick Leave in private industry & practice is limited. I will bet that the definition of Sick Leave is loosely defined in some companies and tightly defined in others. The guidance for federal employees is available for all to view & interpret. The federal gov't has been a great employer for me. I follow the rules as best I can.
I fully support utilizing Sick Leave in accordance with the established written guidelines or labor agreement. I do note however, that each employee's internal guidance regarding work ethic and honor can vary widely. This applies to both feds & non-feds.
My first employer (50 years ago) after college was a MegaCorp. I don't know how that company does things today (left 35+ years ago), but that company's "Sick Leave" policy (from day one) did not ever "accrue" sick leave". If you were sick, you were entitled to sick leave. There was never any reality or perception that you ever lost anything by not being "sick" or taking a sick day.

delamer
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Re: Federal Employees, leading up to retirement?

Post by delamer » Sun Mar 04, 2018 10:27 am

dm200 wrote:
Sun Mar 04, 2018 9:18 am
Some, and most likely most, Federal agencies won't care about the use of sick leave in the period leading up to retirement provided you're not a leave abuser (and if you've got a few thousand hours of SL, it's safe to say you aren't). Why stir up trouble relating to someone walking out the door?
Because it is the equivqalent of stealing from the taxpayers...

You should either use sick leave for its allowed purposes under OPM’s regulations, or don’t use it at all.

Otherwise, it is stealing from the taxpayers.

It is unfortunately true that some employees, and their managers, don’t abide by those regulations.

But it is far from a universal problem, at least in the offices that I worked in.

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Re: Federal Employees, leading up to retirement?

Post by GCD » Sun Mar 04, 2018 10:49 am

I'm a recently retired Fed. Here's some examples of ways I burned sick leave during my last year to hit my desired target of left over SL. These may be enlightening for those of you who immediately assume fraud when a discussion of SL "management" comes along.

- Stayed home with my sick 11 and 12 year olds.
- Scheduled surgery for myself and took every day I felt like for recuperation instead of coming back to work early. When are you really recuperated? That's largely/somewhat a personal decision. In my last year I took more time than I would have with 10 years on the job.
- Called in sick when I was really sick. I had a job that included emergency call-outs 24/7 including Christmas, etc. For all of my career except the last year I rolled out at 3 am, sometimes driving hundreds of miles, regardless of whether I was sick or not. Not my last year. If I was sick, I called in sick. I'm sure my co-workers also appreciated me NOT being sick in the office when it was an office day.

The last point burned about 10 days by itself. For me sick leave management entailed using sick leave as designed instead of working through illness and injury. I'm not exceptional either, that attitude is more common than you might think. You have to remember that people in their last few months of employment are old and have things wrong with them and are more susceptible to colds and whatnot.
Last edited by GCD on Sun Mar 04, 2018 11:03 am, edited 1 time in total.

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dm200
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Re: Federal Employees, leading up to retirement?

Post by dm200 » Sun Mar 04, 2018 11:00 am

delamer wrote:
Sun Mar 04, 2018 10:27 am
dm200 wrote:
Sun Mar 04, 2018 9:18 am
Some, and most likely most, Federal agencies won't care about the use of sick leave in the period leading up to retirement provided you're not a leave abuser (and if you've got a few thousand hours of SL, it's safe to say you aren't). Why stir up trouble relating to someone walking out the door?
Because it is the equivqalent of stealing from the taxpayers...
You should either use sick leave for its allowed purposes under OPM’s regulations, or don’t use it at all.
Otherwise, it is stealing from the taxpayers.
It is unfortunately true that some employees, and their managers, don’t abide by those regulations.
But it is far from a universal problem, at least in the offices that I worked in.
Yes ...

TresBelle65
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Re: Federal Employees, leading up to retirement?

Post by TresBelle65 » Sun Mar 04, 2018 11:24 am

I'm willing to bet this is much ado about nothing.

The federal employees I see and know are pretty tightly monitored. They're getting what they're entitled to by policy and nothing more.

I wonder why people don't focus more on waste, fraud and abuse where it really happens. This reminds me of standing in line at the grocery store and scoffing at the person buying a steak with food stamps....or jumping over dollars to save a penny.

Myopic.

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Re: Federal Employees, leading up to retirement?

Post by ChrisC » Sun Mar 04, 2018 1:08 pm

TresBelle65 wrote:
Sun Mar 04, 2018 11:24 am
I'm willing to bet this is much ado about nothing. . .


Myopic.
It sure seems that way. We're quibbling over what seems to me are minor infractions, at best, because last time I managed Federal employees, one needed a doctor's note for any sick leave over 3 days straight. I really wasn't going to assess people's credibility and truthfulness for taking leave, unless it was clearly abusive s(l)ick leave. If someone needed a mental day off from a crushing workload which could spiral into a depressive state of mind or would result in work deficiencies, I didn't care whether they used sick leave or annual leave.

The idea that these leave policies are rigid and cast in stone that all agencies, divisions within agencies, bureaus within divisions, sections within divisions, offices within sections, etc routinely follow has not been my experience -- same can be said about teleworking within the Federal government.

I find managers who are inflexible in leave admininstration frequently cause undue morale problems within their staff. There are clear cases in my view, when s(l)ick leave has to be called out -- like situations where someone is using leave for "terminal" leave purposes (such as separations from the Government), which in many cases occurs at the highest levels of an agency, where the rules are bent backwards for favored employees -- the agency allows someone to take all his sick leave prior to retirement or prior to leaving the Federal workforce -- and it wouldn't surprise me that this happens at 1600 Pennsylvania Ave a lot, irrespective of who's on the throne.

Most CSRS folks knew that it was far better to accumulate sick leave than annual leave over the course of your career because of the service credit sick leave provides for your CSRS pensions. When I retired, I left around 60 hours of unused sick leave on the table that I couldn't tack on to my service credit. Nonetheless, I left with a year of extra service credit -- and with around 360 hours of annual leave credit for a lump sum payment as I retired in the middle of the year. My last agency provided separate disability insurance for its workforce, but all CSRS employees I knew in that agency typically used annual leave for medical appointments or for sickness. Now that FERS folks have the same deal CSRS folks had for sick leave, I suspect that they'll typically behave the same way we did.

Gray
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Re: Federal Employees, leading up to retirement?

Post by Gray » Sun Mar 04, 2018 5:15 pm

Stick a fork in it. This thread is fully cooked.

azurekep
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Re: Federal Employees, leading up to retirement?

Post by azurekep » Sun Mar 04, 2018 6:24 pm

TresBelle65 wrote:
Sun Mar 04, 2018 11:24 am
I'm willing to bet this is much ado about nothing.

The federal employees I see and know are pretty tightly monitored. They're getting what they're entitled to by policy and nothing more.

I wonder why people don't focus more on waste, fraud and abuse where it really happens. This reminds me of standing in line at the grocery store and scoffing at the person buying a steak with food stamps....or jumping over dollars to save a penny.

Myopic.
+1

As a taxpayer, the potential abuse of sick lieave by Federal employees would be about 1,254,678th on my list of complaints.

kaudrey
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Re: Federal Employees, leading up to retirement?

Post by kaudrey » Mon Mar 05, 2018 11:03 am

Sorry to tack on another version of this, but just thought I'd see if I have my situation right.

I am FERS; I started right out of college at age 21 and have been in the gov't for almost 27 years. I'll be 49 soon.

My original plan was, as would be expected, to retire at my MRA (56 years, 10 months), and get immediate pension and keep FEHB.

Now, my life has undergone a transformation - a divorce last year, a new man in my life...which leads to a potential change. My new guy, whom I adore and would love to spend my life with, is 61 years old (so, 12 years older than me). We are obviously in kind of different stages of retirement planning. We have a lot of interests and love to travel, and we'd like to do that as soon as possible and while he still has many good years left.

Therefore, we've been discussing my retirement after I have 30 years in, at which point I'll be 52. Let's go under the assumption that we'll have plenty of money between the two of us to be able to afford doing this. He will likely retire at the end of this year or 2019. I'd work until mid-2021.

Please, experts, correct me if I am wrong in what I'll give up by doing this (i.e., not waiting until my MRA). I am doing this for planning purposes, as I want to update my spreadsheet with various scenarios regarding our pensions, social security options, etc.

1) I will not get the annuity supplement
2) I will be on my own for healthcare from 52 to 65
3) Pension will be deferred to start at my MRA
4) My SS will be less because I'll have 30 years of income, not 35.

Is there anything I am missing in my planning?

delamer
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Re: Federal Employees, leading up to retirement?

Post by delamer » Mon Mar 05, 2018 11:29 am

kaudrey wrote:
Mon Mar 05, 2018 11:03 am
Sorry to tack on another version of this, but just thought I'd see if I have my situation right.

I am FERS; I started right out of college at age 21 and have been in the gov't for almost 27 years. I'll be 49 soon.

My original plan was, as would be expected, to retire at my MRA (56 years, 10 months), and get immediate pension and keep FEHB.

Now, my life has undergone a transformation - a divorce last year, a new man in my life...which leads to a potential change. My new guy, whom I adore and would love to spend my life with, is 61 years old (so, 12 years older than me). We are obviously in kind of different stages of retirement planning. We have a lot of interests and love to travel, and we'd like to do that as soon as possible and while he still has many good years left.

Therefore, we've been discussing my retirement after I have 30 years in, at which point I'll be 52. Let's go under the assumption that we'll have plenty of money between the two of us to be able to afford doing this. He will likely retire at the end of this year or 2019. I'd work until mid-2021.

Please, experts, correct me if I am wrong in what I'll give up by doing this (i.e., not waiting until my MRA). I am doing this for planning purposes, as I want to update my spreadsheet with various scenarios regarding our pensions, social security options, etc.

1) I will not get the annuity supplement
2) I will be on my own for healthcare from 52 to 65
3) Pension will be deferred to start at my MRA
4) My SS will be less because I'll have 30 years of income, not 35.

Is there anything I am missing in my planning?

Based on my limited understanding, you are right. You might want to submit your question (or do a search of his earlier columns) to Reg Jones at the Federal Times; he is an expert — http://retirement.federaltimes.com/category/retirement/

The health insurance issue is really important. Good coverage is expensive and not necessarily easy to fnd or reliable. You could get 3 years of FEHB under Temporary Contination of Coverage if you resign.

Any chance you could cut down to part-time? A 3 or 4 day a week schedule would give you more free time, but you’d keep your benefits (not to mention the salary).

kaudrey
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Re: Federal Employees, leading up to retirement?

Post by kaudrey » Mon Mar 05, 2018 12:48 pm

delamer wrote:
Mon Mar 05, 2018 11:29 am
kaudrey wrote:
Mon Mar 05, 2018 11:03 am
Sorry to tack on another version of this, but just thought I'd see if I have my situation right.

Please, experts, correct me if I am wrong in what I'll give up by doing this (i.e., not waiting until my MRA). I am doing this for planning purposes, as I want to update my spreadsheet with various scenarios regarding our pensions, social security options, etc.

1) I will not get the annuity supplement
2) I will be on my own for healthcare from 52 to 65
3) Pension will be deferred to start at my MRA
4) My SS will be less because I'll have 30 years of income, not 35.

Is there anything I am missing in my planning?

Based on my limited understanding, you are right. You might want to submit your question (or do a search of his earlier columns) to Reg Jones at the Federal Times; he is an expert — http://retirement.federaltimes.com/category/retirement/

The health insurance issue is really important. Good coverage is expensive and not necessarily easy to fnd or reliable. You could get 3 years of FEHB under Temporary Contination of Coverage if you resign.

Any chance you could cut down to part-time? A 3 or 4 day a week schedule would give you more free time, but you’d keep your benefits (not to mention the salary).
Thanks, delamar. I didn't know about the temporary continuation of coverage - I'll definitely look into that. And I will look at the Federal Times and seek out Reg Jones' articles.

The health insurance is the biggest drawback, in my view. But, my new SO is working to convince me we'll have plenty of money to cover whatever it costs on our own, without FEHB.

TresBelle65
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Re: Federal Employees, leading up to retirement?

Post by TresBelle65 » Mon Mar 05, 2018 2:50 pm

Obviously, the lowest risk scenario would be for you to have marriage cover what you will be giving up...i.e. spousal federal health insurance, etc.

ExitStageLeft
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Re: Federal Employees, leading up to retirement?

Post by ExitStageLeft » Mon Mar 05, 2018 6:10 pm

The Fed HR Navigator allows you to run retirement scenarios using information from your official personnel file. My understanding is if you have 30 years with FERS you can take an immediate full retirement and continue your FEHB coverage. I'm currently 55 years old and will have my 30 years in 2020. If I run a scenario using the first-eligible date it calculates pension, estimates TSP annuity, and subtracts out costs for FEHB or FEGLI.

You have to log in to Fed HR Navigator using your agency credential. Your HR office should be able to point you in the right direction.

argulator
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Re: Federal Employees, leading up to retirement?

Post by argulator » Mon Mar 05, 2018 6:29 pm

Also be aware of any applicable provisions in your labor agreement if you are in a bargaining unit. Ours provides for payout of 40% of the sick leave balance in lieu of adding it to time in service.
Ralph

delamer
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Re: Federal Employees, leading up to retirement?

Post by delamer » Mon Mar 05, 2018 7:59 pm

ExitStageLeft wrote:
Mon Mar 05, 2018 6:10 pm
The Fed HR Navigator allows you to run retirement scenarios using information from your official personnel file. My understanding is if you have 30 years with FERS you can take an immediate full retirement and continue your FEHB coverage. I'm currently 55 years old and will have my 30 years in 2020. If I run a scenario using the first-eligible date it calculates pension, estimates TSP annuity, and subtracts out costs for FEHB or FEGLI.

You have to log in to Fed HR Navigator using your agency credential. Your HR office should be able to point you in the right direction.
There are special retirement provisions for law enforcement and certain other occupations. But for garden-variety feds, you can’t retire under an immediate FERS annuity before you reach your MRA even with 30 years of service. If you are now 55, your MRA is 56 so you can retire in 2020 with 30 years of service.

https://www.opm.gov/retirement-services ... igibility/

motorcyclesarecool
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Re: Federal Employees, leading up to retirement?

Post by motorcyclesarecool » Mon Mar 05, 2018 11:13 pm

kaudrey wrote:
Mon Mar 05, 2018 11:03 am
1) I will not get the annuity supplement
2) I will be on my own for healthcare from 52 to 65
3) Pension will be deferred to start at my MRA
4) My SS will be less because I'll have 30 years of income, not 35.
Is there anything I am missing in my planning?
Re: 2, is that because you’ll start receiving Medicare at age 65? My understanding is that if you do a deferred annuity, you kiss FEHB goodbye. You’ve had one man in your life let you down in a significant way. What if Mr. Wonderful leaves? What if he dies without updating his will to include you? What if he updates his will but his ex / former or current heirs decide to get nasty? Are you ready to face retirement without FEHB on your own? If yes, then go for it. If no, then you need to change the equation in some way before taking the plunge.
Understand that choosing an HDHP is very much a "red pill" approach. Most would rather pay higher premiums for a $20 copay per visit. They will think you weird for choosing an HSA.

kaudrey
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Re: Federal Employees, leading up to retirement?

Post by kaudrey » Wed Mar 07, 2018 9:51 am

ExitStageLeft wrote:
Mon Mar 05, 2018 6:10 pm
The Fed HR Navigator allows you to run retirement scenarios using information from your official personnel file. My understanding is if you have 30 years with FERS you can take an immediate full retirement and continue your FEHB coverage. I'm currently 55 years old and will have my 30 years in 2020. If I run a scenario using the first-eligible date it calculates pension, estimates TSP annuity, and subtracts out costs for FEHB or FEGLI.

You have to log in to Fed HR Navigator using your agency credential. Your HR office should be able to point you in the right direction.
That is not correct. You have to be at your MRA to get immediate annuity and keep FEHB. I'll look at Fed HR Navigator - thanks!

kaudrey
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Re: Federal Employees, leading up to retirement?

Post by kaudrey » Wed Mar 07, 2018 9:58 am

motorcyclesarecool wrote:
Mon Mar 05, 2018 11:13 pm
kaudrey wrote:
Mon Mar 05, 2018 11:03 am
1) I will not get the annuity supplement
2) I will be on my own for healthcare from 52 to 65
3) Pension will be deferred to start at my MRA
4) My SS will be less because I'll have 30 years of income, not 35.
Is there anything I am missing in my planning?
Re: 2, is that because you’ll start receiving Medicare at age 65? My understanding is that if you do a deferred annuity, you kiss FEHB goodbye. You’ve had one man in your life let you down in a significant way. What if Mr. Wonderful leaves? What if he dies without updating his will to include you? What if he updates his will but his ex / former or current heirs decide to get nasty? Are you ready to face retirement without FEHB on your own? If yes, then go for it. If no, then you need to change the equation in some way before taking the plunge.
Hi, Thanks for your questions/concerns. To try to answer them: Yes, it's because at 65 I'll get Medicare. Yes, you can't get FEHB if you do a deferred annuity. I've actually had two men let me down this way; I am twice divorced. Hopefully, I've figured it out with this one. At 52, I'll have enough money on my own to retire with or without his money. We will likely be married before I retire, and we've talked about a pre-nup. We are both finance people and have discussed things in great detail, especially because his ex has already been pretty nasty. She made out like a bandit in their divorce, so she's set for life. He's leaving his large IRA to his kids; they wouldn't expect anything else. If he dies, I'll get his taxable account and a $500K life insurance payout that he has already set up....

The health insurance is the biggest unknown, but I'm getting used to the idea of dealing with that as we run numbers and talk things through.

kaudrey
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Re: Federal Employees, leading up to retirement?

Post by kaudrey » Wed Mar 07, 2018 9:59 am

argulator wrote:
Mon Mar 05, 2018 6:29 pm
Also be aware of any applicable provisions in your labor agreement if you are in a bargaining unit. Ours provides for payout of 40% of the sick leave balance in lieu of adding it to time in service.
Thanks. I am not bargaining unit.

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