FERS CSRS Sick Leave

[ProduceMan]

Just wanna hear everyone’s opinion on sick leave in regards with retirement (pension).

[23V23C]

When I was first hired into Federal Service, I was advised to save my sick leave for retirement. It will count towards credible service. So, I’ve been saving it now for a little over 14 years. I plan to retire with a little over 19 years in but with the saved sick leave, I’ll be over 20 years and get the 1.1%. I have run the retirement calculators my agency provides and am happy with the projections. The saved sick leave will let me retire 11 months early barring any critical medical situation forcing me to dip into the reserves past my cushion.

[ProduceMan]

I’m guessing your retirement plan is FERS. If you plan to retire under the 60 yr and 20 yr provision, your sick leave can’t be used to make the 20 yr requirement. It’s only used afterwards, in the annuity calculation.

[bloobs]

I’m guessing your retirement plan is FERS. If you plan to retire under the 60 yr and 20 yr provision, your sick leave can’t be used to make the 20 yr requirement. It’s only used afterwards, in the annuity calculation.

is is true that if you have say 6 months of sick leave, you can retire 6 months earlier than your say MRA at 60yrs old?

never could find a clear answer to this one

[Aitrus]

I attended a retirement seminar a few months ago, and this question came up. The answer is a solid no, you can't use sick leave to help you meet the 20 year mark. It only adds time on for retirement calculation purposes, it doesn't help you meet the number of years required to retire.

Using the above example: Achieving 20 years of service with 6 months of sick leave means retiring at age 60 years and 6 months to get the 20 years to be retirement eligible, and then the retirement calculation is 20 years and 6 months. Back of the envelope math means that this person started working for the government at age 40 and 6 months.

Quote: "Unused Sick Leave under FERS can be used to increase an individual’s total creditable service for annuity computation purposes only"
Source: https://www.opm.gov/retirement-center/f ... e-service/

[bloobs]

.. The answer is a solid no, you can't use sick leave to help you meet the 20 year mark. It only adds time on for retirement calculation purposes, it doesn't help you meet the number of years required to retire...

Quote: "Unused Sick Leave under FERS can be used to increase an individual’s total creditable service for annuity computation purposes only"
Source: https://www.opm.gov/retirement-center/f ... e-service/

[12squared]

Wouldn't one be better off getting paid for a year of sick days, along with the year of service it takes to receive them?

[ProduceMan]

I’m guessing your retirement plan is FERS. If you plan to retire under the 60 yr and 20 yr provision, your sick leave can’t be used to make the 20 yr requirement. It’s only used afterwards, in the annuity calculation.

is is true that if you have say 6 months of sick leave, you can retire 6 months earlier than your say MRA at 60yrs old?

never could find a clear answer to this one

Thanks Aitrus

[ProduceMan]

Wouldn't one be better off getting paid for a year of sick days, along with the year of service it takes to receive them?

Retirement calculation 100000 with 1 yr at 1%
would give you 1000 for a yr

Versus a year of pay 100000

[bloobs]

Wouldn't one be better off getting paid for a year of sick days, along with the year of service it takes to receive them?

Retirement calculation 100000 with 1 yr at 1%
would give you 1000 for a yr

Versus a year of pay 100000

The trick is convincing management that i will be sick for the last 365 days of my federal career--requiring me to be rehabbing in the Tuscan countryside..

[ProduceMan]

Wouldn't one be better off getting paid for a year of sick days, along with the year of service it takes to receive them?

Retirement calculation 100000 with 1 yr at 1%
would give you 1000 for a yr

Versus a year of pay 100000

The trick is convincing management that i will be sick for the last 365 days of my federal career--requiring me to be rehabbing in the Tuscan countryside..

lol, let us all know the trick!

[evilanne]

They have specific chart that shows how many months and days, 174 hours = calendar month, anything in excess of a full month does not count so be sure to use it for medical/dental visits prior to retirement.
See https://www.fedweek.com/retirement-bene ... etirement/

[ProduceMan]

They have specific chart that shows how many months and days, 174 hours = calendar month, anything in excess of a full month does not count so be sure to use it for medical/dental visits prior to retirement.
See https://www.fedweek.com/retirement-bene ... etirement/

Actually, any unused sick leave hours over a month is combined with your actual service time and military buyback time (over a month).

[Bubba823]

I have been using my sick leave over the past 2 - 3 years. I've brought it down from a high of 1,200 hour to about 600 hours now. I have several more years in which to get it close to zero. It's not worth saving in my opinion.

[ProduceMan]

I have been using my sick leave over the past 2 - 3 years. I've brought it down from a high of 1,200 hour to about 600 hours now. I have several more years in which to get it close to zero. It's not worth saving in my opinion.

Is it bc the worth of getting paid 100% of pay versus a fraction for using it as unused sick hours.