On Mar 1, 2023, at 9:53 AM, Albert Reble via groups.io <Alrxl600=yahoo.com@groups.io> wrote:
The money from A/L will be more useful once you submit your retirement and aren't getting your regular paycheck. I'm 8 months post retirement and OPM still hasn't gotten off their asses to give me even an estimate of when I'll start getting full checks. They have just blown off my congressman's communications.Al RebleOn Mar 1, 2023, at 6:38 AM, MD2018 via groups.io <rlkane.wc=verizon.net@groups.io> wrote:But remember if you retired after Dec 31 you can only carry over 240 hours. The 208 hours you earned in the previous year you had to use up anyway. But everyone's retirement check will be larger if you continue working. But once you decide to go and feel you have enough money to live on it's nice to get a big lump sum payment to use for whatever you want. New car, vacation, investment…etc.On Mar 1, 2023, at 7:29 AM, Dave in Dallas <datruedave+GroupsIO@gmail.com> wrote:On Tue, Feb 28, 2023 at 07:06 PM, Thomas Wellock wrote:
Of course, in taking the leave, you start your retirement five weeks earlier. You'll have less money, but maybe that's worth it.440 hours is 11 weeks, no? I feel like little misconceptions like this really impact people's opinions. We're talking about 11 weeks where you're still getting paid your normal pay, still earning annual leave, still accumulating service that will count towards your retirement.
And you won't have less money overall, just not in a fat lump sum payment. You'll actually have more in retirement. [In the example above, someone is retiring with a final salary of $80,000 (so, they're, what, GS9 Step 10?). One additional month of service is worth $6 more per month in retirement. An additional 11 weeks of service will definitely get you two more months of service, maybe three. So, $12-18 more every month for our GS9 step 10.] In fact, for some people (I'm thinking of LEOs on LEAP or AUO), you'll have much more.
The hours of leave are worth the same amount of money whether you use them or save them and sell them.It's just a matter of whether you want that money all at once when you retire (the popular choice, and the obvious one for anyone worried about funds to handle a few months without a steady paycheck), or whether you want additional months of service that will increase your pension forever (the less popular choice, but the one that is objectively worth more money).
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