Thread: FERS retirement at 62?

Originally Posted by weatherweenie

For round numbers, say you retire with 30 years of service, and your average high three is 100,000. Assuming 1% per year served, your annuity would be $30,000/year. If you had enough SL to add a year to the annuity calculation, your annuity would be increased to 31%, or $31,000/year.

If you are earning $100,000/year, and have a years worth of sick leave, you obviously have $100,000 worth of sick leave.

With that sick leave only adding $1,000 to your annuity, you would have to draw on the annuity 100 years to break even. Right?

The only problem is finding a doctor who will sign your fmla for 1 year..

Originally Posted by Maricar19

The only problem is finding a doctor who will sign your fmla for 1 year..

Or, start planning ahead and use your SL in the years leading up to retirement.

Although I am under FERS, I've always been conservative in taking sick leave because I like it as a buffer, just in case I become very ill--- just never know.

When I retired my AL check was a little over $18K, THAT is much better than one or two stupid months of longevity!

Originally Posted by DreamboatAnnie

Although I am under FERS, I've always been conservative in taking sick leave because I like it as a buffer, just in case I become very ill--- just never know.

If only I could have done that myself! Between having children requiring extended time off, dealing with sick children while DH deployed, suffering from a chronic illness that takes me out of commission for some time roughly every 5 years or so ... Sick Leave Accrual has been very difficult. I continue to strive to hold onto my sick leave, now I have to start holding Annual Leave also, so I can get that big check. Just have to build to that 440 Hours and retire on the RIGHT day.

I'm not sure, but I believe air traffic controllers have the option of cashing in their sick leave, like AL. Yet another perk they get.

Following this thread w/interest.

My current plan is to retire this year, end of December - have some SL to consider

Originally Posted by nnuut

When I retired my AL check was a little over $18K, THAT is much better than one or two stupid months of longevity!

Dayem! How many hours did you cash in?!

I retired with 760hrs and received check for $21,000.00 Used up a lot of sick leave towards end of my career cuz figured it was worth a heck of a lot more then the small difference it would make in my annuity.

Originally Posted by tom1tom1

I retired with 760hrs and received check for $21,000.00 Used up a lot of sick leave towards end of my career cuz figured it was worth a heck of a lot more then the small difference it would make in my annuity.

Likewise!

Originally Posted by weatherweenie

Dayem! How many hours did you cash in?!

That was in 2010 and I don't remember but it was around 500 hours.