Ask The Experts: Retirement

By Reg Jones

Sick leave credit

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Q. I have been offered early retirement. I have 25 years, six months and 13 days as of the retirement date. The offer showed that I will be rounded up to 26 years by adding five months and 18 days to reach my anniversary date of July 19.

I have used five months x 174 hours/month + 18 days x 8 hours/day to total 1,014 hours. If I double that amount, it becomes 2,028 hours, which is more than I now have, per the last pay stub, which shows 1,971 hours of sick leave.

I need about 16 hours for upcoming doctor visits. If I use the 16 hours needed, thus reducing my total, will I then drop below the 26 years even mark?

A. I can’t do your homework for you. What I can do is tell you how to calculate your length of service. Start with your years and full months of service as of the day you retire. Convert any leftover days to hours.

Combine these with any accrued and unused sick leave hours. Convert the total to retirement months. As you have noted, a retirement month is, on average, 174 hours long. Once you have tallied all of the months, add them to your years and full months of actual service. Any hours that don’t add up to a full month are dropped.

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