The following is a questions submitted by a Federal Times readers about retirement and other issues facing the federal workforce. They are answered by Reg Jones, a charter member of the senior executive service and a Federal Times columnist since 1995.

Question: I am by all measures eligible to retire now - I am 61 years old with over 42 years of service (I bought back 21 years of military time). My question – If I were to separate NOW (before I am 62), but elect to postpone drawing retirement until AFTER I turn 62, will my annuity calculation use the 1% multiplier or will my annuity calculation use the 1.1% multiplier?

Reg’s Response: If you resigned and applied for your annuity at age 62, that retirement benefit would be calculated using the 1.1 percent multiplier.

Question: I am about to retire at age 60 with over 36 years in. I know my annual leave payout (estimated at about 272 hours) is not subject to the earnings test. I should have about 40 hours of comp time that will be paid out when I retire. Is that payment subject to the earnings test?

Reg’s Response: Yes, it is.

Question: After getting a CSRS Benefit report, I see that seven months of my Total Service Credit was not used in computing my unreduced monthly annuity (based on the CRRS maximum annuity rule). Is it legal to choose a retirement date seven months later and and use up that sick leave in the meantime if I’m not sick? I always heard that unused sick leave was added to the total service credit and didn’t realize there was a cap on that. I hate the idea of wasting all that sick leave!

Reg’s Response: I can understand your disappointment; however, it isn’t legal to use sick leave for the purpose you site.

Got a question for the Federal Times expert?

Send inquiries to: fedexperts@federaltimes.com

Reg Jones, a charter member of the senior executive service, is our resident expert on retirement and the federal government. From 1979 to '95, he served as an assistant director of the Office of Personnel Management handling recruiting and examining, white and blue collar pay, retirement, insurance and other issues. Opinions expressed are his own.

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