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Office of Personnel Management

Save $23B in Six Years - Sick Leave Towards Retirement Date

By allowing federal employees to count up to one year of earned sick leave towards their retirement date, the government could save $23 billion between now and 2016. 340,000 feds will retire in the next six years; average salary $68,000. Right now, any earned unused sick leave will add to your retirement income - up to one year starting in 2014; your retirement check will be based on 31 years of service instead of 30. Under my idea, you only have to work 29 years instead of 30 years to retire. The government saves one year of paying your salary, you get to reitre early (opening up your position for someone else), and the taxpayer saves $23 billion! Win-win-win. Sure, the feds will lose the 1% contribution to FERS made by the employee for that one year, but this is nothing compared to the savings. It is also an incentive not to use sick leave unless actually sick..

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Idea No. 3476