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Other USPS VER information circulated on Benefits and Leave Provisions:

Postal Pay Charts and COLA Information

Unused Sick Leave

Credit for Unused Sick Leave For CSRS Retirees

Unused sick leave is not included for determining eligibility.

Unused sick leave is added to length of service in computing the annuity benefit.

Unused sick leave is credited only in immediate retirements.

Unused sick leave is computed on the basis of a 2080 hour work year for Postal Service employees.

Example:

Service : 30 years - 4 months - 15 days

USL 624 hrs. 3 months - 18 days (**see chart below for better understanding of how it works)

Total: 30 years - 7 months - 33 days

30 years - 8 months - 3 days

30 years - 8 months

Table of Converting Unused Sick Leave
Into Additional Service

The chart below is from a USPS Retirement seminar.

Annuity Computations

The amount of the annuity benefit is based upon:

High 3-years average salary, and

Length of creditable service

** Leave Without Pay (LWOP) is fully creditable for retirement purposes for up to six months

per calendar year.

 

CSRS General Formula (Basic Annual Benefit):

1.50% X "High-3" X 5 years +

1.75% X "High-3" X 5 years +

2.00% X "High-3" X # of years and months of service over 10

= Basic Annuity

Shortcut Formula:

(Years of service - 2) X 2 = Basic Annuity

expressed as % of High-3

Example: 28 years of service: (28 - 2) X 2 = 52% of High-3

Law Enforcement/Firefighter Calculation

LE/FF Formula (Basic Annual Benefit):

2.50% X "High-3" X 20 years +

2.00% X "High-3" X # of years and months of service over 20

= Basic Annuity

 

Annuity Commencing Dates

CSRS Annuity Commencing Date - Voluntary Retirements
Optional (Voluntary) retirements commence on the first of the month following the month of
separation or on the day following the last day of pay if you retire on the 1st, 2nd or 3rd day of
the month. This means that the annuity commences on the 1st, 2nd, 3rd or 4th day of the
month. Thus, you should plan your retirement for the last day of the month (or near the last day)
or for the 1st, 2nd or 3rd of a month to avoid a gap in pay.

(Voluntary Retirements)

Retire

Annuity Commences

The Check Date

May 31 June 1  July 1
June 1 June 2 July 1
June 2 June 3  July 1
June 3 June 4 July 1
June 4 July 1 August 1

Disability and Discontinued Service Retirements

Disability retirements and Discontinued Service (Involuntary) retirements commence the earlier of the day after separation or the day after last day of pay, and all eligibility requirements have been met.