For lump sum payment of annual leave, does the calculation include carry over plus use or lose?

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The date I am eligible for retirement is May 2017. My current leave balance is 247, my use or lose is 207. How is annual leave calculated at retirement for lump sum payments? In my case is it 247 plus 207 plus leave accumulated from now til May? If so the number will be 526. Is that figure correct?

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Posted by (Questions: 1, Answers: 0)
Asked on January 27, 2017 4:29 pm
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For most federal employees, the maximum carryover annual leave balance is 240. This means that on the first day of the first pay period of the leave year (for calendar year 2017, that date was January 8, 2017) 240 was the maximum number of annual leave hours you could bring with you. Then, you begin to accumulate additional annual leave. If you retire May 2017, whatever number of hours of annual leave you have on that date, for example your 240 carryover and an additional 32 hours you have earned so far in 2017, you will be cashed out of the entire 272 hours. This money will be paid to you after you leave federal service. Should you wish to read more on this, please see 5 CFR Part 550 Section L, which can be found at https://www.law.cornell.edu/cfr/text/5/part-550/subpart-L

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Posted by (Questions: 0, Answers: 205)
Answered on January 27, 2017 4:59 pm