| Title | : | Federal Employee Sick Leave in Retirement: Is it Worthless?? |
| Lasting | : | 8.35 |
| Date of publication | : | |
| Views | : | 4,4 rb |
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One month of sick leave applied towards my pension is only $5 a month !!!!! Yep thats a whopping $60 more a year in pension Worked over 34 yearsretiring soonno thanks I will take the sick leave in my remaining days Comment from : NANCO1999 |
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I have a combination of a very high federal salary as a high specialty physician, 30 years of continuous full time federal service by the time I retire this summer, and 2264 hours of accumulated sick leave which will be the equivalent of 1 year and 1 month of service in my pension calculation So instead of retiring with 30 years of service, I will have 3108 years of service for my pension calculation My extra 108 year of service from unused sick leave will be an extra $4,300 per year (before taxes) or $358 per month Mind you this is for the rest of my life So if I live 30 years in retirement, my sick leave conversion would be worth $129,000 before taxes or $103,000 after 20 tax withheld Cost of living increases will raise this, but inflation will lessen buying power Still, $100,000 ain't a bad reward for rarely calling in sick If I live 30 years into retirement, my gross pension pay out (without COLA) would be $3,764,000 or about $3 million when 20 tax is withheld Comment from : Dr MitoFit |
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Ah… If you have 20+ years of service your multiplier is 11 not 1 It does make a difference Comment from : Jim McClung |
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I would rather err on the side of caution and donate a few days back to the Govt than lose a whole month in my Length of service (LOS) calculation because I "forgot" to carry the one LOL Comment from : Ray Navarro |
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Hi, I’m also a federal government worker Back in early 2000’s I would hear the older people (under CRS) grumble about us “youngsters” taking all that sick leave A co-worker of mine spoke up and said that FERS people don’t get credit for any unused sick leave so if we have it, we should use I was so glad when that law passed in 2010! Comment from : Debora Morrissey |
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Great video! Looking forward to more in the future! Comment from : Alex M |
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Yay! Good job buddy! Comment from : Lisa Stein |
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Well done ! Comment from : Andrew Swanson |
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Thank you for the tool! Congratulations on joining YouTube ! Comment from : Ray Navarro |
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