By Reg Jones
FERS LEO retirement options
November 30th, 2011 | Uncategorized
Q. I have been an 1811 under covered positions for 15 years. I also have bought back years of active-duty time. My organization is discussing offering a Discontinued Service Retirement. If offered this retirement would I receive: 15 years x 0.017 (25.5) x average of high three plus 10 years x 0.01 (10) x average of high three or a total of 35.5 percent of high three plus 50 percent of my sick leave time applied to length of covered time. (This is only a couple of months – 600 hours).
A. Yes and no. While you would receive half credit for your unused sick leave, the fact that you don’t have 20 years of covered service would mean that your entire annuity would be calculated using the standard formula: 0.01 x your high-3 x all years of creditable service.
Tags: Discontinued Service Retirement, high-3, RETIREMENT, sick leave
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