GovernmentExecutive.com

Return to Article: Best Dates to Retire 2008

• 88264
  

  What is the best day to reire in 2009 with 208 use or lose and 240 in the hole. Dec 3, 2009 or Dec 31?

  ROBERA MORGAN Posted October 1, 2009 10:40 AM
• 84487
  

  Under CSRS, if I were to enter January 1, 2010 as my "date of final separation" would I receive the holiday pay for that day?

  bob schoolar Posted August 10, 2009 7:49 PM
• 72453
  

  I began working here Sept 29, 1985 and will be 66 Sept 3, 2009. I would like to retire sometime between the end of 2009 and April 2010. Which date/month would be best financially?

  Jacqueline Strazdins Posted March 19, 2009 3:46 PM
• 57919
  

  If I set retirement date Jan.01/09 when do I receive first check?

  Lynn Posted September 7, 2008 1:07 PM
• 53212
  

  I am FERS and NSPS, what is best date to retire in DEC 09, or JAN 09? Based on not fully understanding NSPS and I will have 400+ Leave Annual to be paid?

  HM Posted June 27, 2008 10:01 AM
• 51593
  

  Hi Tammy, my SCD 6/4/75, (it was 4/74) i have 1yr 1mth break in service. My SCD was ajusted to the break and I've worked 33 yrs straight with out a break. When i retire, the break w/be subtracted from my years of service that gives me 31 yrs and i have to pay $45. monthly back into the system. Please help!the money in the system is for 33years w/o a break. why should i repay for time that i did not work? Why is the time deducted from the time i worked w/o a break? No one can give me an answer. R.Gilmore (410) 865-3191

  Rita Gilmore Posted June 2, 2008 8:47 AM
• 50526
  

  I am under the CSRS retirement system. My SCD is 6/2 and on this date, I will have 30 years on service and would be age 61. If I retire on 8/3/09 will I be paid for my use or lose annual leave as well as my 240 hrs of annual leave that I carry over each year?

  Shirley Antoine Posted May 13, 2008 9:42 AM
• 50377
  

  Hi Tammy, I can retire Oct 2, 2009 as a CSRS/Offset employee. I'll be 60 with 25 years service. My SCD is April 7, 1979 with break in service of 5 years. And would Oct 3, 2009 be a good date for me to retire?

  Carolyn Cross Posted May 9, 2008 11:51 AM
• 49808
  

  I meet the requirement for both age and time in service and I'm a CSRS employee. SCD 4-7-77...I understand that if I retire in Dec. of 08 I will get the COL for the upcoming year or will my monthly retirement amt increase if I wait until 62 years of age in April 09. Also I need to know if all of my sick leave will be included or will I lose some of it?

  Saralyn Kellogg Posted May 1, 2008 2:05 PM
• 48014
  

  Tammy, I am in FERS and my birth date is 1/3/1949. I turn 60 yrs. of age on 1/3/2009. I wish to retire on that date under the option of 60 yrs. of age (with 25 yrs. of service). I understand that by doing this I will not receive my first retirement check until 3/1/09, but the upside is that I will be able to get paid for my accummulated annual leave (448 Hrs.) as Pay Period 26 ends on 1/3/09 and I will qualify for the Social Security Supplement, as well as no penalty to my annuity for being under 62 yrs. of age. Is that correct? Since I work an Alternate Work Schedule of 4 ten hours days (Mon-Thurs) and Thurs,Jan. 1/09 is a holiday and Jan. 2/09 (Fri.) is my normal day off, must I actually work on 1/3/09 (Sat.) in order to meet the 60 yrs. of age requirement for the supplement? Will my retirement date automatically be calculated as 1/3/2009, the last day of Pay Period 26?

  Kathleen McFadden Posted April 7, 2008 6:13 AM
• 48000
  

  Tammy, I am retiring effective 30 April 2008. Since I didn't plan to retire for a couple of years I'm just starting to look at options for my TSP. I'm under the FERS system. I would like to start drawing a little now and have the rest available while it grows interest. Any recommendations?

  John Pannell Posted April 6, 2008 10:58 AM
• 44508
  

  I have restored leave from 2006 and 2007. I've read that I have 2 years to use/lose this restored leave. I've also read that this restored leave must be taken NLT 12/31/2008. Is this information correct? Also, if I retire on 12/31/2008 can I get the annual & sick leave for that pay-period if I'm on 5-4-9, with the second Friday off? Thanks,

  Mark Gray Posted February 27, 2008 10:23 AM
• 41551
  

  I am in CSRS. If I retire on February 29, 2008 which is a Friday, will I get credited for my annual and sick leave for that pay period and earn retirement for the whole month of March starting March 1? Also, since Bebruary has 29 days, does it still count as a complete month in figuring the number of sick hours needed to complete the months credited towards time in service?

  S Albrink Posted January 15, 2008 3:18 PM
• 41310
  

  I plan to retire on 11 July 2008, which is exactly one week after I reach 60 and I will have worked in the NHS for 30 years and one day!

  Is this the best time for me to retire, or (as my consultant wishes) I retired on 3 April 2009, would this be more beneficial to me?

  Thank you

  CHERRY ANTHONEY-JAMES Posted January 11, 2008 8:01 AM
• 40974
  

  I am a CSRS offset employee. I left the Federal government in 09/85 after working 9 years for the SSA. When I left, I withdrew my funds from the retirement system. I understand that the interest on my redeposit funds is compounded annualy. If I retire before a certain date in 2008 or 2009, can I avoid accruing interest for the year 2008? For example, if I retire on or before 12/31/2008, would I still accrue interest for 2008? Thanks.

  Ken Dowdell Posted January 7, 2008 11:19 PM
• 40868
  

  I am considering CSRS retirement this summer to move into a private sector job. Based on your caledar, it seems that August 1-2 would be the optimal choice for an end date, as this would catch both the end-of-month component and the end-of-payperiod annual leave component. Correct? If so, but I needed to start the other job sooner, what would be the next best (earlier) choice?

  Douglas Wilcox Posted January 6, 2008 7:56 PM
• 40720
  

  I am in CSRS. If the 3rd of the month is on Sunday, the first day of the pay period,can I declair it my last day so I can complete the previou pay period to get the leave acqural? My work week is Monday-Friday.

  Richard Barbieri Posted January 4, 2008 8:12 AM
• 40707
  

  If I retire on July 3rd, 2008, will I earn the additional 8 hours annual leave (because July 4th is a holiday)? Can you site chapter and verse of the appropriate regs?

  Deborah Kalmar Posted January 4, 2008 7:44 AM
• 37020
  

  Am planning to retire from USPSvc in Jan 08. I see that Jan 1,2,3 are colored yellow for optimum retirement dates...but Friday falls on Jan. 04...If I finish the week/pay period on Friday, Jan 04 - to max annual lv carryover, work pay, will that result in 1st retirement payment effective Feb 1 (instead of Jan. 05) - i.e. will I lose a month's retirement pay by retiring on Friday Jan. 04...so better to retire on Jan 03, 2008!? Confused...Thanks.

  glenn k Posted November 9, 2007 12:39 PM
• 31991
  

  When will it be good time to retire in 2009 and when should apply for retirement and take annual leave (use/lose)? Thanks.

  Linda Snorton Posted August 31, 2007 9:08 AM
• 30982
  

  I see many inquiries going unanswered. I think that is because most of these have been addressed previously and I know Tammy doesn't have the resources to answer individually. Therefore, the following is a quick primer on checking at least your financial status, perhaps a little more.

  If you are getting close to retirement, your first stop should be your HR specialist. If you are not pending retirement but merely wish to gather information for planning purposes, there are several potential sources.

  First, I recommend the Army Benefits Center (www.abc.army.mil) or your service's/department's equivalent. You need your AKO login. Then the Benefits/EBIS (Employee Benefits Information System, https://www.ebis.army.mil/login.aspx). You need your Login and pin data. Next, the "My Benefits" option. You will see a blue report table with tabs at the top, most gray.

  You should update your data; particularly the TSP which changes the most. Click on the TSP tab; find the hyperlink "Click here to enter your TSP balances into the EBIS Profile Tool." You need your TSP login data. There appears to be a glitch when the TSP data downloads. The message says something about not being updated. Just save as Manual Input. If the TSP link is currently unavailable, take a snapshot prior to entering and truly update manually. After saving, the system recalculates based on the new data.

  Then, just above the Personal tab's top left, you should see a little printer icon and the words "Printer Friendly Version". I recommend you save that PDF file and date it. It is an invaluable reference; updating and saving periodic snapshots will give you an idea of your progress.

  Next I would play with the on-site calculators. I recommend running both high and low end return estimates; playing with the years will also give you your MRA+10 and your complete retirement potential.

  Another way to judge progress, albeit from the past, is to download your TSP quarterly statements. The TSP site has been loading the old TSP Qtrly statements. Last check showed from my 3rd qtr, 2003, to date.

  I know most of you probably do this, but we just got a bunch of newbies on board during the Mil-to-Civ conversion and they received no training on this.

  Good luck.

  Tip Off Posted August 15, 2007 1:34 PM
• 30123
  

  My next step increase is due the 1st pay period in 2009 which begins on January 4, 2009. If I retire on January 2nd (Friday) or January 3rd, 2009, would the annual leave lump sum payment be based on the salary with the step increase or would I loose out on that increase?

  LMc Posted August 6, 2007 1:37 PM
• 30093
  

  Tamy,

  I'm elgible to go 12-2-2007. Would it be better for me to go then or wait until 2008?

  Eugene Talley Posted August 6, 2007 8:57 AM
• 29876
  

  I'm planning to retire under the CSRS on 1 March 2008 with 37 years service including sick leave. March 1st is a Saturday and also the end of the pay period. My question is "For my first annuity check would I receive credit for all 30 days in March 2008 and receive 100% of my monthly annuity for the month?" My work schedule is Mon-Fri. and the 29th of February would be my last work day.

  Thomas P. Smith Posted August 2, 2007 7:32 AM
• 29745
  

  Is it true that any time worked after 41 1/2 years, your retirement accum LES total will be earning 3% interest?

  Vincent Mujica Posted July 31, 2007 1:00 PM
• 29635
  

  Tammy very informative information in your column. Question: I plan to retire Jan 09. I am under the CSRS system, my birthday is on 29 Jan 09 and I will turn 55. I know I have sometime to go before retiring but I am trying to plan ahead. What day do you suggest would be the best day for me to retire, end of Jan 09 or begginning of Feb 09 ? - please advise! Would appreciate if you would continue to post the BEST TIME TO RETIRE DATES FOR EACH YEAR 2009 as time gets closer in the govexec.com website issue every year!Seeing the calendar and the best dates to retire takes the guessing work from what day to retire and it is more accurate. Thank you.

  Lynn Durner Posted July 30, 2007 10:13 AM
• 29544
  

  I plan to retire March 2008 and no dates were slected as best dates, I am CSRS. I do not need an extra day to reach another month's service. If I retire on the 1st which is a Sat. and a non-workday will it affect how my retirement is calulated? Would the 2nd or 3rd be better?

  Ada Smith Posted July 27, 2007 9:30 PM
• 29532
  

  I am under the CSRS retirement system and I work for DOD. I am planning to retire on 02/29/08, however, this is Leap Year Day and this date only occurs every 4 years. Could there be a computer glitch (programmed dates) which would cause problems after I retire with computations or COLAs, etc.? Or would it be better retire on Monday, 03/03/08?

  J T Mauldin Posted July 27, 2007 7:43 PM
• 29529
  

  Great column, thanks Tammy. Question: My SCD is 6/2/08, my B'day is 6/4/53, and my retirement party is 6/7/08. When is the best day to retire? (I know, I miss the first three days - unless there's an early out - for one day!) If I retire on 6/4/08 (making my retirement my birthday present) should I take annual leave to avoid a period of no income? Please advise...

  Robbie Smith Posted July 27, 2007 5:37 PM
• 29526
  

  Question - if I retire on 3 Jauary I will receive my two final paychecks in 2008. Can I have all of my earnings (less deductions) for those payperiods placed directly in my TSP, or is there a limit in contributions per payperiod?

  JP Posted July 27, 2007 4:46 PM
• 29490
  

  Thank you, your column had been a great help. June 1st, 2008 is a Sunday......we are required to work on our final day. Can I work that Friday, May 30th or do I have to work on Monday, June 2 or Tuesday, June 3rd.

  Lynda Steichen Posted July 27, 2007 11:38 AM
• 29487
  

  Gerald -- Jan 3 is a Saturday. It only benefits you if you need the extra day for computing time of service. I retired on a Saturday because when you added in my sick leave, it came out exactly to 33 years and 5 months with no extra days.

  Scott D McLennan Posted July 27, 2007 11:27 AM
• 29462
  

  First Thanks Tammy! Second CSRS SCD 10-29-74, DOB 5-17-1953. GS-13/7 next WIG 07-24-08. Will lump sum AL be paid at the same rate whether I retire 8/01/08 or do I need to retire within the next pay period (8/03) to insure that step increase is functional?

  Nickel Squeezer Posted July 27, 2007 8:02 AM
• 29461
  

  Wouldn't January 3, 2009 be equally good? You only listed January 2nd.

  Gerald Kobell Posted July 27, 2007 8:01 AM
• 29458
  

  Good morning. I look forward to reading your column every week. I am under the CSRS.

  My SCD is 24 Jul 1975.

  If I retire on 31 Jul 2008, I will have 33 years and 7 days of service.

  May these 7 days be combined with the sick leave balance that I have at retirement to create an additional month of service? For instance if I have 1177 hours of sick leave (6 months, 23 days) at retirement, will the 7 days combined with the 23 days of unused sick leave give me an additional month of service worked? Or do I lose any portion of a month of unused sick leave?

  Since I am scheduled to retire next July, I want to ensure that I use my available leave.

  Delmar Sutton Posted July 27, 2007 7:39 AM
• 29449
  

  Hi Tammy, one last question please. If I elected 2 Jan 2009 for retirement how would a pay raise for 2009 affect that particular date in figuring up the high three? Can I be on active duty for one day of the pay raise and get credit for the pay raise to count toward my high three? Thank you.

  denis donnawell Posted July 27, 2007 3:03 AM
• 29448
  

  If one retires on Friday, January 2, 2009 as a CSRS employee, but the 2008 leave year officially ends on Saturday, January 3, 2009, would the leave accural for this final pay period of 2008 be forfeited? If so, wouldn't January 3, 2009 be the preferred date on which to retire even though Saturday is not my normal work day?

  Marc Palevitz Posted July 27, 2007 2:22 AM