Check from Selling Back Annual Leave Question

[rangerray]

This may have been asked before. For those who have already retired and sold annual leave back, how long did it take to get your check? Preferably, I'm interested in someone who's done it recently, but all answers are to be entertained.

The reason I'm asking is that I'd really like to retire November 30 instead of December 31, but I'd rather get that check after the first of the year. I seem to think that it usually takes six weeks or longer, but I'd like to hear how it's worked out for others.

Thanks all!

 

[James48843]

This may have been asked before. For those who have already retired and sold annual leave back, how long did it take to get your check? Preferably, I'm interested in someone who's done it recently, but all answers are to be entertained.

The reason I'm asking is that I'd really like to retire November 30 instead of December 31, but I'd rather get that check after the first of the year. I seem to think that it usually takes six weeks or longer, but I'd like to hear how it's worked out for others.

Thanks all!

I retired on August 31, 2020. That was only one day into a new pay period- so for that pay period, all I got was one dais’s pay, and 13 days of nothing.

The pay period after that, is when they calculated the annual leave buyout, and treated it like it was pay for that 2nd 14 day pay period.

But the actual final check that included money for my annual leave hit my bank on OCTOBER 19th.

So it was like 3 pay period after I actually quit working.

Hope that helps.


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[mainekezar]

I retired from the Air Force DOD, Civil Service on Sunday 8 Nov and received my last regular check on the 13th. DFAS sent my annual leave check on the 27th. Hope this helps.

 

[rangerray]

Both of your replies shed some light on it. It appears that it can vary greatly.

 

[PessOptimist]

Rangerray, it appears so. I retired December 31st 2018, 9 days in to the pay period and got my annual leave payout in the January 5th normal payment.

PO

 

[Bmoredunks]

Both of your replies shed some light on it. It appears that it can vary greatly.

Hey RangerRay,

I retired December 31, 2020 and I got my Annual Leave/Sick Leave check(deposit) on February 9, 2021. Not bad considering I retired not only around Holidays but during the pandemic and reduced administrative functions. Now, getting my full retirement was a different story. I will get my first “real” full retirement payment on June 1st. Just got the back pay a few days ago.
I retired from the FAA.

 

[ALRetiree]

Hey Bemoredunks, retiring from the FAA here in August. Hope the timeline is better for me but I just watched a retirement seminar from BOC and they said expect 4 to 6 months for final pay.

 

[rangerray]

The only reason I'm waiting until December to retire is so that I can be assured I won't get a check for selling back 448 hours of annual leave in the same year that I make full salary.

The only folks I know of that waited 6 months to get their regular retirement checks had divorces in their history and spousal issues to work out that complicated things. I have one divorce in my past, but it was in our decree how retirement issues are to be handled, so I think I've headed off that potential problem with copies included in my retirement application . My divorce lawyer wasn't exactly aggressive on my behalf, but at least he covered my butt well enough in that regard.

 

[nasa1974]

The only reason I'm waiting until December to retire is so that I can be assured I won't get a check for selling back 448 hours of annual leave in the same year that I make full salary.

Sounds like a real good reason to me.

 

[FAAM]

RR: I'm pretty much think'n to retire (also from FAA) this December... same as you to be certain of no AL check in CY21, also to maximize that check; though I turn 62 about 4-months prior to that (FERS). Not sure when to put in the paperwork - have heard that is typically about 3-to-4 months before separation date; since I don't have any complicating factors I figured that sounds good for me. Figure I'll want to roll-over a bunch of my Traditional-TSP to ROTH-IRA (a more self-directed plan) but start doing so after retirements when I think my annual income will drop some, and do so over a couple/few years to diminish the Tax payment for that. Also not sure what company/IRA to go with, but recall seeing some discussion and recommendation about that on one of the Forums here at TSPtalk. Best wishes to you.

 

[rangerray]

I was told I could send my application, which I did several weeks back in March, but it wouldn’t be processed until December. It seems a little strange to me for them to wait until the last month, but maybe they know a certain percentage of applicants will change their minds?

That won’t be me. I’ve wanted to retire at 56 for as long as I can remember.


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[evilanne]

Hey Bemoredunks, retiring from the FAA here in August. Hope the timeline is better for me but I just watched a retirement seminar from BOC and they said expect 4 to 6 months for final pay.

I think when they are talking about 4-6 months for final pay...it is the OPM retirement pay they are talking about. When you retire, they will give you a partial payment (portion of what you are entitled to) until all the i's are dotted and the t's are crossed. When fully processed, you get and adjustment for the balance. e.g. I got about 73% of my retirement pay for 3 months - Federal Taxes, then I got the adjustment with my final monthly calculated payment for those 3 months, minus the applicable healthcare, insurance premiums and taxes. The adjustment represented 7-12% less than what I should have gotten based on my actual situation.

The annual leave pay from your agency should be in the next pay period after your final pay check.

 

[poppa]

how much can ya sell back? i am postal, we can carry over 440 hrs. if i dont use any leave all year and retire in dec. can i sell the 660?

 

[nasa1974]

how much can ya sell back? i am postal, we can carry over 440 hrs. if i dont use any leave all year and retire in dec. can i sell the 660?

You should be able too. Now sick leave is a different story.

 

[felixthecat]

This may have been asked before. For those who have already retired and sold annual leave back, how long did it take to get your check? Preferably, I'm interested in someone who's done it recently, but all answers are to be entertained.

The reason I'm asking is that I'd really like to retire November 30 instead of December 31, but I'd rather get that check after the first of the year. I seem to think that it usually takes six weeks or longer, but I'd like to hear how it's worked out for others.

Thanks all!

I retired 12/31/2021. I did that to insure I would not be taxed AL/CT the same year in which I had my highest pay year. I got my AL/CT payout in pay period #2 or Feb 9th 2022. Actually got it on the 7th. As a side note “before” you retire, make sure you two step authenicate My Employee Personal Page (EPP) website and you have a second email entry under the Preferences—> “Change Email Addresses”. You need an email address other than your noaa work email address. On the authenticate…you can have a code sent to your iphone or whatever cell phone you use. Otherwise…might be harder to see your lump sum figures without Enterprise Services help. Any and all documents from EPP should be downloaded before you retire. Oh and so you are not surprised…taxes owed for lump sum will be Social Security, Federal, State (if you live in a state that taxes lump sum) and lastly Medicare.