Best Time to Retire?

[tspgo_com]

About five years ago I attended a retirement seminar. The speaker talked about choosing the best time to retire. Specifically he was saying one is to considerer anniversary, month of the year, annual leave, etc.
It seems I committed this information to memory because I can't find it anywhere.

Would you (Pyriel, Wheel, Show-Me, TSPtalk TSPeers, ET all) help me answer this question?. If you have already posted an answer to a similar question, please point me to it.

Basic Information:
Anniversary date: February 15
Agency: LEO
System: FERS
Minimum Retirement Age: 50/20
Current Status: 54/20
DOB: Jan 21
Annual Leave: 240+ hours (Max carry over: 240).

Thank you

[Show-me]

http://www.govexec.com/story_page.cf...friendlyVers=1&

Tammy Flanagan is the expert. She puts out a article every year. I have not found the newest one yet, but I am still looking.

[Show-me]

http://www.govexec.com/story_page.cf...friendlyVers=1&

[clester]

I know for fers the last day of the month is the best in order to get your first retirement check then next month. Your last regular check (for 2 weeks) the next pay period then the first of the next month would be a full month retirement paycheck. Some say take all your annual on the end because it will increase your high three slightly and your months of service.You would also earn more leave. Some would say take the cash for annual.

[mlk_man]

This is a Navy site but has lots of good info:

https://www.civilianbenefits.hroc.na...lineRetire.asp

[Wheels]

About five years ago I attended a retirement seminar. The speaker talked about choosing the best time to retire. Specifically he was saying one is to considerer anniversary, month of the year, annual leave, etc.
It seems I committed this information to memory because I can't find it anywhere.

Would you (Pyriel, Wheel, Show-Me, TSPtalk TSPeers, ET all) help me answer this question?. If you have already posted an answer to a similar question, please point me to it.

Basic Information:
Anniversary date: February 15
Agency: LEO
System: FERS
Minimum Retirement Age: 50/20
Current Status: 54/20
DOB: Jan 21
Annual Leave: 240+ hours (Max carry over: 240).

Thank you

Some things to consider.

As someone has already mentioned, the last day of the month is key (or close to it without going over into the next month).

If you can line it up with the last day of a pay period that gets you and extra 8 hours of annual leave.

With you being 54 already, you may want to consider waiting until next year, that way you can take your TSP without paying the 10% penalty.

However waiting until next year means that you will lose the ability to sell back as much annual leave (unless you wait until late next year).

Your anniversary date being so early creates another dilemna. I'll have to look it up but I think in FERS you would lose any credit towards another percent in your pension by going before your anniversary date.

Check your PM's. I have a couple of questions for you.

[tspgo_com]

Thank you all for the valuable information. Sorry I can't acknowledge each one of you individually but I am at work and you ... know!

Thank so much!

[Wheels]

Your anniversary date being so early creates another dilemna. I'll have to look it up but I think in FERS you would lose any credit towards another percent in your pension by going before your anniversary date.

O.K. I was wrong about this. You do get credit for months so your anniversary date doesn't really play into your decision.

[tspgo_com]

http://www.govexec.com/story_page.cf...friendlyVers=1&

Tammy Flanagan is the expert. She puts out a article every year. I have not found the newest one yet, but I am still looking.

Thank you so much for taking the time to answer and for the link. It answered most of my questions.

TSPGO!

[tspgo_com]

I know for fers the last day of the month is the best in order to get your first retirement check then next month. Your last regular check (for 2 weeks) the next pay period then the first of the next month would be a full month retirement paycheck. Some say take all your annual on the end because it will increase your high three slightly and your months of service.You would also earn more leave. Some would say take the cash for annual.

Thank you for the summary.

TSPGO!

[tspgo_com]

This is a Navy site but has lots of good info:

https://www.civilianbenefits.hroc.na...lineRetire.asp

You are right. Lots of good info.

Thanks.

[tspgo_com]

O.K. I was wrong about this. You do get credit for months so your anniversary date doesn't really play into your decision.

Wheels:

Are we saying that retiring in December instead of waiting till the anniversary date, that portion of the year would be credited?

Thanks