How To Pick Your Federal Retirement Date & 3 Common Mistakes

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[@bandito85fx]

Retired in 2021, Covid screwed up retirement payments. Always have all your debts paid off, cash in the bank. Live within your budget. I’m very happy. ✌️

[@serapheum]

If you retire Dec 31st, your lump sum gets paid in the next year when you are retired and make much less...so less tax

[@user-cf2px2ko8y]

And you don't lose "use or lose"

[@c.hunter631]

Just got introduced to this channel but already love it. While I’m 50, I’m already thinking about what I need to do to retire by 63-64. Great info, thank you!

[@danieljustdaniel9550]

When I retired, we were supposed to get a particial check, But the 1st check i got deposit into the bank in about a month was like my full check promised. I called the phone number and the lady told me that my account was adjudicated and finalized. She said that if you had no things like divorces, child support payments that it gets processed quicker.

[@studimeglio7110]

Good to know. Retired end of December, so hopefully I get my first check February 1. Thanks

[@generitaldato794]

Yeah, if you have a very simple retirement I'm sure it's quicker.

[@PlanYourFederalBenefits]

Thanks for sharing!

[@jimb.942]

Well I pray I don’t have any hang ups. Thanks for the positive input. Also should help that I’m retiring at a odd time. The only bad thing is that droves of employees are leaving this agency

[@aasdf6460]

Amazing how many people work in a job for 20, 30, 40 years and don't consider that they need some cash to hold them over until they start getting that pension. It boggles my mind more that people sometimes choose not to save any money for an occasion such as this.

[@sylvesterstain]

You must not work with government employees.

[@mrbeastman59]

People need to .watch these awesome videos a few years prior to retiring. Also opm should mention tax advantage of Roth TSP. I learned when I attended a competitor who came to Austin. Of course to late as I will be eligible to retire next year.

[@stevejacobs9411]

Make sure to check if you qualify for the higher multiplier. If you are 62 with 20 years of service the multiplier is 1.1%. Otherwise you get 1%.

[@PH-dm8ew]

just a thought if you are getting the supplement, it pays to quit in june. stay in 12 % tax bracket, forgo the extra 6 months of leave which has ss taken out, and all the usual deductions. You wind up with more money in the end and don't work the last 6 months of the year. (and pay less taxes). You wind up with 280 hrs of leave and the supplement which is only taxed not subject to other payroll deductions.

[@ScottUSAGame]

June is actually the worst month to retire if you are getting the FERS Supplement because OPM rounds years of service to the nearest YEAR when doing the calculation. So if you retire in July you get one more year added to your years of service for the FERS Supplement.

[@teeduck]

@@ScottUSAGame wrong.

[@peg33]

When is the best time of year to retire? I don't see the retirement calculator

[@swimbikerunmud]

You've been my #1 resource for several years now Dallen. Here's a special annual leave and tax situation for retiring at the end of this year ... 2023. I'll have 440 hours of annual leave at the end of December. The 27th pay period reaches all the way to Jan 13 2024. Do I need to retire at the end of December, or can I retire one week into January (still in the 2023 leave year) and have my A/L lump sum payout go against my 2024 taxes? Getting that lump sum in 2023 will put me into the next higher tax bracket. I've already gotten plenty of "I think" and "probably" and "it should" responses from HR and colleagues. I'm looking for a definitive confirmation of how my tax burden would be applied. Huge thanks to you for this page Dallen.

[@yvetteingram3877]

Your info is so very helpful I’m planning to retire in 5 years or less I’m so glad I’ve learned of you to make sure I’m on track

[@PlanYourFederalBenefits]

Great to hear! Thanks for being part of the community!

[@salahglobal3026]

Thank you for the great information and happy 2022 retirement!

[@PlanYourFederalBenefits]

Congrats on your retirement!!

[@Usatorok]

Love your videos!! I recommend them to all my peers.

[@PlanYourFederalBenefits]

Great to hear! Thanks for sharing!

[@JuanMartinez-kn2qs]

Thanks for sharing the retirement dates.

[@douggerard3411]

In my case I am planning on retiring in May to avoid the rush of people retiring in Dec/Jan; OPM just finished the back log from those months last week. Presumably that will mean my retirement package will not be lost among a ton of other packages. Also, I waited until I turn 62, when the FERS multiple goes from 1.0 to 1.1, which adds 10% to my retirement. We have already planned ahead for the time between my retirement and the full payment date, we have nearly 20K saved plus my military retirement of $1,300 per month to carry us to the full FERS retirement date. I started planning on my retirement before I even started my civil service career when I was about to leave the military. I decided on a civil service career specifically for the retirement and leave benefits; Federal civil service has the best retirement and leave policies. Then I learned about the FERS system and added as much as I was comfortable with to my TSP accounts. I also stayed in the military reserves until I reached my 20 year letter instead of just walking away from my active duty time, meaning that I could retire from the military with at least a partial amount, plus I could use my active duty time to add to the FERS calculation. The result? My retirement gross pay will be as much or more than my current GS-13 gross pay when it is fully implemented. It's not rocket science, but paying attention and learning about retirement well before that date is a very good thing in my opinion!

[@PlanYourFederalBenefits]

Thanks for sharing!

[@swright5690]

Good job. So many people half ass it and don’t put some time and thought into it and leave money on the table.

[@creyes814]

Great planning! May I ask how long it took to get your first annuity check? I was planning to retire in August 2024 with 38 years of federal service. Most of my coworkers have retired in December to get the maximum annual leave payout.

[@SmartMoneyBro]

good infor. thanks so much.

[@PlanYourFederalBenefits]

Our pleasure. Have a great day!

[@runner2008]

Very helpful, thank you.

[@DMRSIX]

Great information! Would love to see your advice on leaving without retiring, and what happens to the TSP.

[@aasdf6460]

You keep your TSP no matter how you leave assuming you have a minimum amount in your account.

[@mrbeastman59]

The minimum amount in TSP to leave it there is currently $200.

[@arleenm7367]

I retired last February. My retirement was finalized in August. Before the retirement packet goes to OPM, it first goes to your agency finance office and they take out a big chunk of taxes for leave (I had about 200 hours) and pay you your final pay. It took about a month before they send it on to OPM (I then received an e-mail that OPM finally received it). Some agencies are faster at sending it forward. I took out some money (before then) from the TSP to fill in the gap while I waited. TSP takes out automatic 20% in federal taxes and 0% state. Now in doing my taxes for the past year, I'm going to get a good bit of money back from the IRS, but owe a lot of money to my state. Just FYI if you've worked in a state that has an income tax. Also, when the yearly COLAs come out, your retirement COLA increase will be pro-rated in that first year.

[@randyscrafts8575]

Any idea how health insurance gets paid for those months and months the retiree has no check coming in or deductions from retirees check for health benefits?

[@arleenm7367]

@@randyscrafts8575 I have Tricare so I'm not sure for people with FEHB, but once OPM gets your retirement packet from your agency they do start paying you monthly a smaller part of your final amount (I believe it's around 70% of the full amount). From that they could take out the FEHB. Perhaps someone else would know for sure though.

[@bobbrown578]

@@randyscrafts8575 Please see my answer where you posted this question in another comment. I hope that helps you.

[@PlanYourFederalBenefits]

Thanks for sharing!

[@miyard9233]

Thank you , I did not know that it takes between 4-6 weeks to drawdown from my TSP. I guess we all have to set aside @ least 1 year of living expenses to cushion the effects of such a delay.

[@rosarodgers7539]

Hello, I believe it was mentioned in the video that a link to federal pay calendars thru 2028 would be available, but I seemingly can't find it. I did find the TSP link, though - thanks!

[@osmatberro6855]

Always helpful information, thank you so much. As a federal employee still having a long way to retire, is there any advantages we can take or do more research about so we can benefit from beyond tsp and fehb Thank you

[@mrbeastman59]

www.profeds.com/attend I don't think Mr. Haws goes to multiple locations. I do like his videos as a suppement

[@celticmco5672]

Remember that OPM will pay you a partial annuity until your case is completed; its is about 60-70 per cent of your final amount but most get it within a month of their final regular check. Plus you will get your AL payout within 4-6 weeks of your final day of work. If you worked long enough to get a FED pension you should not be worrying about money to "tide you over" - if you are you screwed up somewhere...

[@rogerdoger9939]

Use all of your AL while you are working. Contribute to a Roth IRA or a plain old savings account to match the AL amount.

[@PlanYourFederalBenefits]

Thanks for sharing!

[@tomahawktom7595]

It’ll take 6-12 months to get retirement…also remember that. NOBODY cares about your retirement but you…and the GS7 or GS9 at OPM sure doesn’t care about your retirement. If you do what you’re supposed to do before retirement and it’s not there in a reasonable amount of time..pick up your phone and immediately call your congress person… yo7 can call OPM until your heart is content, but they HAVE to respond to a congressional inquiry. If you’ve been divorced make sure you submit a copy if your divorce decree, because OPM will just sit on your retirement paperwork if it’s not included… and they won’t contact you and tell you they need something to finish your retirement paper….thus, the nobcares about you retirement, but you.

[@davidpippin3460]

Always great info. I turn 55 in two months and my wife and I are 50/50 on retiring a year later at my MRA or sticking it out for another 3.2 years and getting the full ret at 60. Your videos are helping us in that decision.

[@bleebu5448]

I was mulling over a similar situation. I turn 60 in 2023. I was considering staying until 2025 (62), and getting the 1.1% multiplier (plus the extra 2 years, which actually makes it a 20% increase in retirement pay) but don't think I can hang. So I am sure I am going to retire at the end of the month when I turn 60. Someone on this channel mentioned that the time you are on terminal leave and also employed as a civilian doesn't count, so I might have to wait until the end of July, instead of April (can't actually find that rule though).

[@scottgold1054]

Full retirement is 62 you get 10 percent more than 60.

[@1Mannco]

@@bleebu5448 I also turn 60 in 2023 but I'm going another 37 months retiring at 62 for my 20 years service. Times 1.1% multiplier = 22%

[@bleebu5448]

@@scottgold1054 Yes, but the additional 2 years makes the multiplier 1.1% * 22 years. which comes out to 24.2%. Instead of 1.0% * 20 which is 20%. The actual difference (in percent) is 24.2-20=4.2 4.2/20=.21. So the difference in pay for my case is waiting the extra 2 years would increase my retirement 21%. using the 100K scenario. In other words, I would get 20,000 at 20 years, or 24,200 at 22. (not counting differences in top 3).

[@toddwerther188]

@@bleebu5448 Yep... and also one would be remiss to think what 2 years of life is worth? Assuming good health until 80 that's 10% of your remaining life your selling for 4K a year. Not saying it's not worth it, just adding perspective.

[@nmesis582]

Thank you

[@PlanYourFederalBenefits]

Our pleasure!

[@mrbeastman59]

I heard you can avoid an early withdrawal penalty if you choose to receive your funds on a regular distribution schedule if under 59.5 . Can you explain how that works?

[@alexadler3922]

Dallen, I’m special provision fers. I’m planning on retiring in August (the month I turn 50) with 1700 hours of S/L. My anniversary is November 5. I understand the S/L will be calculated to carry me to November for the extra 1%. But will it change anything on January 1?

[@rekab6752]

If you cash out your Annual Leave, is it taxed at a higher rate vs if you were to use it up?

[@joemail10]

Does the chart that shows the beginning and end of the leave year for years 2020-2030 the same for postal employees? Or is the Postal schedule different?

[@luckypenny4263]

Another. Great video! If I have more than 1000 hours SL I know this is applied towards years served but for how many years will this apply in the pension?

[@skana64]

Its there forever because it gets used to calculate yrs served

[@william2chao]

If I move to South Dakota, would my FEHB, annuity move to SD? Do I need to do that 5 years before retirement?

[@shaunamartinez3461]

Can you do a video about sick leave service credit? I think people don't realize a day of sick leave is 5.8 hrs, not 8 hrs, for purpose of determining the number of sick days toward credit.

[@PlanYourFederalBenefits]

Feel free to submit your question here: app.hawsfederaladvisors.com/question-submission This is where we get topics for future videos.

[@jerroldfrank5869]

How accurate do you think those retirement calculators are?

[@rajeshsingh-dl8fj]

Can you transfer service credits from state retirement system to federal retirement system?

[@joynarmore3484]

Does 20% taxes automatically come out of our pension, TSP withdrawels, and Social Security? Or do we have to tell them to do it?

[@crazyoldgooseman]

Your "date of final separation" would be the day before you retire?

[@terrenceshibata2983]

Can I withdrawal my TSP, if I retire under federal disability retirement and I’m over 50 and incurre the 10% penalty?

[@joesteel]

I guess I'd use up my vacation in my last 2 years

[@rogerdoger9939]

This is my plan. I can save money to use from retirement date until the full pension is calculated.

[@richardt8278]

i was looking for the TSP cheat sheet listed in the video, just links to the TSP building wealth book

[@PlanYourFederalBenefits]

That's right. The TSP building wealth book is a great resource when trying to invest in the TSP. You could consider the whole book a cheat sheet. Ironically, we will be adding a one page cheat sheet at the beginning of the book very soon as well.

[@cmcb5301]

Hello Dallen - If I select 12/31/2022 to retire, Does the final AL payment come on tax year 2022 or 2023? For example is it like our last paycheck which comes 2 weeks after the paperwork ends - thus into the next year?

[@celticmco5672]

The year it is received is the year you pay taxes on it - 2023...

[@bobbrown578]

If your question is "when does your payment for your accrued annual leave come", then most likely it will come some time after your last paycheck. When I retired, I got my AL check 2 pay periods (not 2 weeks) after my last paycheck.

[@cmcb5301]

@Celtic MCO thank you - exactly what I was asking.

[@rosendocavazos4566]

Dallen, does the added large annual leave lump sum pay when your be retires figure into the high three for the pension?

[@PlanYourFederalBenefits]

The annual leave payout does not affect the high-3

[@JK-ls7wj]

Does the balance AL lumpsom cheque, we receive in mail or a direct deposit? Can we request for that to go in TSP?

[@Jazzy_530]

Annual Leave Lum sum payment - They take out taxes before they mail you your final check correct ? Sounds like from your vid you get taxed when you file your taxes.

[@celticmco5672]

Yes taxes are withheld; my agency gave me the option in my retirement package to withhold extra from the standard amount if I wanted too...

[@bobbrown578]

Yes, your agency will withhold Federal and state taxes, Social Security (if applicable to you), and Medicare. Some of his information could be presented better.

[@JohnDoe-ks4id]

Does anyone know if restored leave is paid the same as regular annual leave. I restored around 150 this year of use or lose due to work schedule not permitting leave. Would I get paid the same as with my annual leave?

[@bobbrown578]

Yes, as long as the time period for using the restored leave hasn’t expired.

[@bleebu5448]

Weird question. What happens if I retire near the end of the year, and I don't actually receive my pension until the next year? I understand I will get all the back pay I am owed. Does that back pay get taxed the year they should have paid me, or in the year I actually receive it? This could be a way to reduce some taxes by having substantially less income in that 2nd year. The example is you retire in November, but you don't get your pension payment until February. If you owe the taxes for the year you should have received it, it would 10 months salary + 2 months pension. Otherwise, 10 months salary in year 1, then just the taxes on pension in year 2.

[@tracy4316]

You are taxed in the year you receive the money.

[@bobbrown578]

Assuming you are a cash method taxpayer (like most of us), you pay taxes on income (any income) based on the year in which you actually received the income payment; not based on the year in which you earned it (i.e., not when you worked). This is not unique to retirement; it applies to regular income as well. Think about the last pay period of the calendar year that you work in late December (this happens practically every year - let's say 2021), but your corresponding payday is in January. Since you received that income in January, that income is for 2022 and you pay tax on it accordingly for 2022.

[@bleebu5448]

@@bobbrown578 So in short, if you time it right, you could keep yourself in the 20% bracket instead of the 24% by not getting paid for a few months, and then getting the back pay the following year.

[@jftube3333]

@@bleebu5448 So if this is the case, doesn't it seem it's better to retire at the end of December then?

[@wildzeke]

Since December 31th is on a Saturday this year, is there any advantage to retire on that date vs. the 30th?

[@PlanYourFederalBenefits]

You can put the 31st as your retirement date but your last working day would actually be the 30th

[@crazyoldgooseman]

@@PlanYourFederalBenefits the 30th would be your "date of final separation?" Please clarify Thanks for your videos

[@generitaldato794]

I’m not sure why you didn’t mention that OPM pays an estimated amount while you’re waiting on your final pension amount.

[@msgroovytube]

What estimated amount? Where could I look that up?

[@generitaldato794]

@@msgroovytube I don't have an official quote but I went to a retirement class and they had it as fact that you will receive a partial check until your retirement amount is finalized. Also, I know several people that retired and they said the same thing. The reason it is partial is because of what you select for insurance, survivor, dental/vision plans. They hold this back to pay that amount when finalized.

[@deplorabledreg2935]

If you retire with the social security supplemental. Is that sent at the same time as your annuity??

[@PlanYourFederalBenefits]

Yes, it is paid together with your pension

[@randyscrafts8575]

Any idea how health insurance gets paid for those months and months the retiree has no check coming in or deductions from retirees check for health benefits? I'm FERS and retired on Jan 1, 2022. I'm aware that I don't get paid for the month of January but the question mentioned above I never thought about nor was this situation mentioned in the retirement coulseling or here on your youtube channel. Any info on this would be appreciated.

[@bobbrown578]

In general, FEHB insurance is paid by OPM through withholding similar to your regular pay check. OPM will start FEHB payments for you in your first partial check provided there is sufficient money to cover the insurance. FEDVIP (Benefeds) such as vision and dental are not withheld by OPM during your interim (partial payment) period. You will be billed directly by Benefeds for those premiums that you will pay out of pocket until OPM finalizes your retirement. Once OPM finalizes, OPM will withhold your Benefeds premiums as usual. In a related note, I hope your official retirement date under FERS is Dec 31, 2021 and not actually Jan 1, 2022. A retirement on Dec 31 is a "December" retirement and your first OPM check will be paid on Feb 1, 2022 for the month of January. If you retired on Jan 1, then you have a January retirement, and your first check will be paid on March 1 for February.

[@randyscrafts8575]

@@bobbrown578 Ya. I'm aware of all that but your answer doesn't answer my question. My question was for Dallon or someone who has actually experienced this situation. Thanks though.

[@rogerdoger9939]

@@randyscrafts8575 Bob Browns response is the correct information. But, sometime things dnt't go as planned. So his statement "in general", is a good disclaimer.

[@randyscrafts8575]

@@rogerdoger9939 I'm aware that Bob's comment is true but it didn't answer my question and neither does yours. Both of your comments are good examples of why federal employees shouldn't listen to people that don't have the skillet that financial planners experienced in the complexities of the federal retirement system. Before I retired I'd ask my coworkers questions about retirement and thru the process found that how they plan to retire does not work for everyone but it works for them so they think they are correct in my retirement and get upset when explained the difference between theirs and mine because they don't understand the complexities. I'm not saying either of you are wrong, you're not wrong, you're just not answering my question. I think you don't understand it's complexity.

[@rogerdoger9939]

@@randyscrafts8575 I have read your question again, there is no other answer than what Bob posted. you must have a different question in your head you are unable to express here. I hope you find an answer to that question.

[@TheChicago35]

It took 9 months before I received my 1st full retirement check and 8 weeks to get paid for my annual leave.

[@itguru2037]

Why 9 months

[@Usatorok]

If I leave federal service before 10 years of service then rejoin before 57 and serve 10yrs by 57 can I still get MRA plus 10 retirement?

[@PlanYourFederalBenefits]

Yes

[@peg33]

Is it more of personal preference to hoard annual leave and sick time? I came into FERS system late in my career, so I may not even get 10 years in before I retire. I need SL leave and AL leave for family care. Is there really a huge benefit to saving it??

[@PlanYourFederalBenefits]

Great question. Here is a video that goes over how annual leave and sick leave impact your retirement: kzbin.info/www/bejne/np7RhmWhnstqntU&ab_channel=HawsFederalAdvisors

[@marycolmenar1633]

If OPM takes that long to process the retirement application, should the employee apply way ahead of their retirement? Let's say retirement age is 62, you will submit your application at age 61.

[@PlanYourFederalBenefits]

Yes, it is a great idea to submit way in advance.

[@23molene]

What happens if you complete 20 yrs at the Fed govt job and you leave still less than 55 urs old can you get back your retirement when you turn 55 or 59 yrs old? Do you get ti keep health benifits too with Fers?

[@PlanYourFederalBenefits]

You'll probably want to look at a deferred retirement: hawsfederaladvisors.com/fers-postponed-vs-fers-deferred-retirement-the-ultimate-guide/

[@julieclark3649]

What about terminal leave?

[@bobbrown578]

Although terminal leave is allowed for military personnel, I believe there is no such thing as terminal leave in the civilian federal government. If you mean accrued annual leave as of your date of retirement, then that will be paid to you later.

[@priola7587]

Dalen, Have you noticed that the people who are responding to commenters below are spamming for Edward Jones and or crypto?

[@1Mannco]

That happens alot. I saw that right away when I read the first statement with the replies below agreeing all at the sametime. It's a bot or something.

[@rogerdoger9939]

I have reported many of these.

[@PlanYourFederalBenefits]

Thanks for letting me know! I'll try to get rid of them

[@mrbeastman59]

@@PlanYourFederalBenefits I mentioned profeds but said I didn't think you went in person. Also I enjoy your videos as a supplement. Never hurts to hear to much as long as it is from a reliable source I won't mention anyone again.

[@runner2008]

Does the retiree notify TSP they are retiring or does OPM notify TSP? Thank you

[@PlanYourFederalBenefits]

Great question. If you retire earlier than age 59.5 and are eligible to take TSP withdrawals, OPM will notify the TSP to allow you to make withdrawals before 59.5 without penalty. Otherwise, the TSP will automatically give you penalty-free withdrawals at age 59.5.

[@FlyFishingRealtor]

Wouldn’t blowing through your annual leave make more sense than cashing it out? If you just use it up at the end of your career you would add those weeks to your years of service correct?

[@tracy4316]

The max is 11 weeks which is thousands of dollars if cashed out but only roughly 20% of a year. .002 added to the pension calculation gives couple hundred per yr.

[@FlyFishingRealtor]

@@tracy4316 but you still get the time off as if you’re retired and you still get the exact same dollar amount as if you cashed it in. The only difference is you cut your years off service short by a couple months.

[@tracy4316]

@@FlyFishingRealtor True. Since you are going to be off either way, may want to get the ball rolling on getting the pension figured out and use the lump sump AL to help fill the gap. Plus your sup likely won't be able to post to fill your job until after your last day.

[@rogerdoger9939]

Yes. This whole idea of saving your AL because you need a buffer to fill a gap until your pension is finalized an your have access to your TSP is very antiquated. Lets use a few numbers. If you can carry 11 weeks as Tracy says, if your take home is $2000/ PP, that would be $11,000. You know you are going to retie 1 years out. That is 26 PP's. 11k/26=$423 per PP. Or $210/PP if your saved for 2 years. Or, $140/PP over 3 years. Is it that difficult to save up the same amount and then take the AL while working? You could actually put $1000/yr in an Roth IRA for 11 years. Then take the money out penalty free if under the age of 59.5.

[@FlyFishingRealtor]

@@rogerdoger9939 exactly! If someone can’t afford to live a couple months without a check they may not be ready to retire. I’m doing like you mention and investing in a Roth IRA and saving also so I can retire at 55. I’ll miss out on fehb but that’s the sacrifice I’m willing to make.

[@bleebu5448]

One more dumb question about the lump sum leave payment. I know you owe FICA taxes, but what about OASDI, MEDICARE, or other payroll taxes?

[@bobbrown578]

Your lump sum annual leave payment will deduct federal tax, state tax, Social Security (if you are FERS, but not if you are CSRS), and Medicare; but NOT FEHB, Benefeds (vision, dental), FEGLI, TSP, nor retirement. I don't know about any other deductions.

[@JorgeMorales-tw5ox]

What about someone's sick leave??

[@1Mannco]

I wondered about that too. I believe it goes to your 'time' served for your pension. Like 170 hrs would give you another month I believe. Not sure.

[@cohoanglervancouverwa6755]

@@1Mannco Yes. Any unused sick leave is added to your years of service. So if you worked for 30 years and had 2080 hours of unused sick leave you would have 31 years of service in the government for the purpose of calculating your pension (annuity).

[@rogerdoger9939]

@@cohoanglervancouverwa6755 It is a little more complicated than this. People usually don't retire at a round date, like 30 years. It might 30 years, 4 months and 13 days. Any SL you have will 1st go to round you up to 30 yrs/5 month. The remainder is then calculated to give you the next whole month.

[@judymullis7437]

I think I read where the calculation on sick leave is counted at 6 hours and not the standard 8. Please read up on how they calculate it before assuming it is a standard rate.

[@ironblk88]

Planning to retired in 2025/12/31, the TSP' thing won''t be an issue way pass 55" age thing, and I have plenty if sick as long as I don't become a victim to someone foolishness I won't use it all up.. and the Annual leave selling back it going to be nice and ain't concern with the tax issue..Just show me the money..Now with that said.. how can you retire on two diffierent dates like the 10th and 31th and still rec first retirement payment on the 1st of Feb..

[@NANCO1999]

You forgot to mention if you retire in the middle of a pay period you wont get the accruals for sick and annual leave on that last pay period.

[@bobbrown578]

Excellent point. That is just one of several topics he didn't mention.

[@SaabAholic]

Yes, you have to EARN it to acquire it.

[@WrvrUgoThrUR]

Retiring based on what the weather’s like cracks me up. 😂