Squalebear's Account Talk

SEC. 407. CREDIT FOR UNUSED SICK LEAVE.





(a) In General- Section 8415 of title 5, United States Code, is amended--
  • (1) by redesignating the second subsection (k) and subsection (l) as subsections (l) and (m), respectively; and
  • (2) in subsection (l) (as so redesignated by paragraph (1))--
      • (A) by striking `(l) In computing' and inserting `(l)(1) In computing'; and
      • (B) by adding at the end the following:
      • `(2) Except as provided in paragraph (1), in computing an annuity under this subchapter, the total service of an employee who retires on an immediate annuity or who dies leaving a survivor or survivors entitled to annuity includes--
    • `(A) for an employee who retires within 3 years after the date of enactment of this paragraph, 3/4 of the days, and
    • `(B) for an employee who retires after 3 years after the date of enactment of this paragraph, the days
  • of unused sick leave to his credit under a formal leave system, except that these days will not be counted in determining average pay or annuity eligibility under this subchapter.
  • (c) Effective Date- The amendments made by this section shall apply with respect to annuities computed based on separations occurring on or after the date of the enactment of this Act.
It's the part in purple that totally confuses me-counts as time served towards retirement-but no corresponding financial benefit because that time/income equivalence is not included in annuity calcs???:confused:
 
In the spirit of promoting equality between the FERS and CSRS employees, I now propose that all CSRS employees also get the maximum 5% matching for contributions to their TSP fund. :D
FERS is a failure. Just abolish it and reinstate CSRS for everyone - instead of adding pieces of it back to FERS.
 
[/list]It's the part in purple that totally confuses me-counts as time served towards retirement-but no corresponding financial benefit because that time/income equivalence is not included in annuity calcs???:confused:
See where it says at the beginning "total service will include"....in the purple at the end they're saying the days won't be used in determining average pay or annuity eligibility. The days will be used in computing the annuity. What you said here is correct:

Currently, employees who retire under CSRS have their unused sick leave added to their time-in-service computation, which increases the value of their retirement annuity. For instance, an employee with 1,055 hours of unused sick leave would get an additional six months tacked onto their time-in-service for retirement purposes.

This is what I believe their doing with FERS
 
[/list]It's the part in purple that totally confuses me-counts as time served towards retirement-but no corresponding financial benefit because that time/income equivalence is not included in annuity calcs???:confused:

I suspect that 365 days x 8 hrs = 2920 hrs. If you have 2920 hrs., you'll
get 1 year credit towards retirement. 1460 hrs. would give you 6 months
credit. And so on.

But remember the part about "within 3 years of enactment". You only get
3/4 if you retire sooner then the 3 years.

To accumulate 2920 hrs. it would take you 14.038461538461538461538461538462
years without using any sick leave
 
I suspect that 365 days x 8 hrs = 2920 hrs. If you have 2920 hrs., you'll
get 1 year credit towards retirement. 1460 hrs. would give you 6 months
credit. And so on.

But remember the part about "within 3 years of enactment". You only get
3/4 if you retire sooner then the 3 years.

SB, Wouldn't it be based on work days and hours i.e. 2080 hours worked x .5 or 1040 hours worked = 6 months additional credit?
 
Just like I'm spending my kids inheritance, I don't have any sick leave
either. It kept me going throughout my career inside the walls. Without
it, I might have ended up like many in my field; depressed, divorced and
destitute. :embarrest:
 
Yeah, She's good at that math,,,,,just kidding, sit back down

I can appreciate your spirited humor. I'm still sitting. I'm sure MOM will
let you guys play together soon enough. Sometimes group therapy,,,,,
oooops,,,,, I mean group hugs,,,,,can do wonders.

Now, don't make me get up out of this chair and tell mom ! :laugh:
 
Maybe a little TIMEOUT in the Frog Pond Would help? NO, no, no, no looking around, AHHHAAAAATT NO talking!!:nuts:
 
Maybe a little TIMEOUT in the Frog Pond Would help? NO, no, no, no looking around, AHHHAAAAATT NO talking!!:nuts:

Gosh Norm, I'm sure we're close in age and I mean no insult what so ever
when I say; OMG, my father use to say the exact same thing to me !
Especially the "ahht - ahht -ahht" how funny is that. :nuts:
 
ILU2 Buster, but you know that!



This has been a really great, fun week on the MB! Live long and prosper...and may the force be with us!
 
ILU2 Buster, but you know that!



This has been a really great, fun week on the MB! Live long and prosper...and may the force be with us!
What a family..heart you all too

And yes,,It has been a fun week..I hope I didn't tick off anybody too bad either..:D
 
What a family..heart you all too

And yes,,It has been a fun week..I hope I didn't tick off anybody too bad either..:D

Aw-w-w! :cheesy:

Buster, we all know you and love you for just exactly who you are. Don't change even a smidge or we'll miss the old you! :laugh:

Lady
 
Didn't tick me off buster, I know you...you have a warped sense of humor like me. I just don't post it like you...hahahaha

The reason we are so happy is that we love life from each of our own perspectives. AND we respect others as well (you too buster).

Live, Learn, Laugh, Love :cool:

I'm still invested high in the Learning but it's getting easier to Laugh and Love!
 
Ok everyone, now your starting to rub my fur off ! :nuts:
Can't a guy get some turmoil around here! Geez ! :laugh:

Seriously folks, the Unuse Sick Leave part of the Tobacco Bill 1108.EH
will impact many. I haven't had time to read the implications of the TSP
and ROTH portion of this Bill. I'm sure they'll be hi-lited in the days to come.
Its been a rollercoaster and I was so excited to share the information
that I even tried to squeeze a IFT in before noon. How foolish did I feel
when the TSP website reminded me that I had another day to wait.

NEXT UP, O/D TRACKER UPDATE. Standby ! ;)
 
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