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I expect to have a balance of 478 hours of annual leave when I retire ( 240+208 + 30 hours of restored) is there a limitation for lump sum payment? I heard 448 and wondered if I should use the restored 30. Blocked by moderator
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Private answer Employees will receive a lump-sum payment for any unused annual leave when they separate from Federal service or retire as long as they retire prior to the beginning of the new leave year. For example, in 2019, the new leave year begins January 6, 2019. That would mean an individual would have to retire no later than January 5, 2019, to be paid out their 478 hours. FYI, the reason you hear 448 often is because most individuals do not have restored leave on their record. And had you worked overseas, the carryover balance could be 360 hours instead of 240. Blocked by moderator  Posted by Elaine Lumsden (Questions: 0, Answers: 586)Answered on August 9, 2018 2:13 pm |
