The OPM web site explains how the high three is calculated. I have included a portion of the explanation below. My interpretation, the lump sum is only paid after you are retired. Thus, it is not an increase for which retirement deductions are withheld, and therefore not part of your high three. Just my opinion after reading the explanation. Following is from the OPM web site:
High-3 Average Salary
Your "high-3" average pay is the highest average basic pay you earned during any 3 consecutive years of service. These three years are usually your final three years of service, but can be an earlier period, if your basic pay was higher during that period. Your basic pay is the basic salary you earn for your position. It includes increases to your salary for which retirement deductions are withheld, such as shift rates. It does not include payments for overtime, bonuses, etc. (If your total service was less than 3 years, your average salary was figured by averaging your basic pay during all of your periods of creditable
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On Apr 30, 2017, at 6:36 PM, scottnieto@gmail.com [TSP_Strategy] <TSP_Strategy@yahoogroups.com> wrote:
Hi Robert,
I don't see how you're getting a 21.5% bump. It looks to me like an increase of about 5% for the final 3 salary average. Can you please explain in an example? Thanks
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Posted by: Jim Hattaway <jimhattaway@yahoo.com>
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