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2024 Annual Leave Dates & Lump Sum Payments   

Dailyfed Staff

December 27, 2023

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Though accrued annual leave does not count toward retirement eligibility or the calculation of your annuity, when you retire, you can receive a sizeable lump sum for the balance in your leave account. That’s why it’s important to understand the rules for accruing annual leave, and how much you can carry over to the next year, before you hit your “use it or lose it” limit.

2024 Annual Leave Dates 

A lump-sum payment usually equals the pay you would’ve received if you remained employed until expiration of the period covered by annual leave. To calculate your lump sum payment at retirement, your agency multiplies the number of hours of your accrued annual leave by your hourly rate of pay, plus other types of basic pay you would’ve received while on annual leave. What’s not included in basic pay are any bonuses, allowances, as-needed overtime, holiday pay and certain differentials.

“As long as you retire before the new leave year begins, you won’t lose the annual leave that’s above the carry over limit.”

Annual Leave Accrual & Carry-Over Rules

Whether you’re a FERS or CSRS participant, the accrual rules are the same (for part-time workers, the following amounts are prorated according to hours worked): 

  • With fewer than three years of service, you earn 4 hours per biweekly pay period (13 days a year). 
  • Between 3 and 15 years of service, 6 hours per pay period (20 days a year). 
  • Once you reach 15 years of service, you earn 8 hours per pay period (26 days a year). 

Generally, the amount of annual leave GS and Wage Grade employees can carry over from one leave year to the next is a maximum of 240 hours (30 days). As long as you retire before the new leave year begins, you won’t lose the annual leave that’s above the limit. If you don’t use any paid leave during the last year of your career, the hours will be added to your carry-over hours to maximize the lump sum you receive. 

Source: https://www.opm.gov/policy-data-oversight/pay-leave/leave-administration/fact-sheets/lump-sum-payments-for-annual-leave/

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