Federal employees are encouraged to donate annual leave time to feds in Kentucky who were affected by the recent flood disaster.
In 2020, at the height of the pandemic, Congress approved an emergency leave fund for federal employees, totaling $570 million. It was available to all federal workers adversely impacted by the coronavirus and was supplied by the government. After tragedies like some natural disasters, there is sometimes a different emergency leave available. Feds not impacted by the catastrophic event are able to donate any of their annual leave to those who were affected.
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At the end of each calendar year, only 240 hours of annual leave can be retained and carried over into the next year. Therefore, some employees’ have garnered annual leave where it is basically “use-it-or-lose-it” before December 31st. Therefore, for those anticipating excess leave at the end of 2022, they can donate portions of this without really affecting their personal plans. Federal employees can earn up to 448 hours in a given year, so even if a quarter of this has been used (leaving 336 hours), that leaves 96 hours available to donate without any real consequences.
Kentucky Flood Victims
Currently, a campaign is running where federal employees are able to donate unused annual leave to victims of the recent Kentucky flooding, which killed almost 40 individuals and resulted in severe mudslides and landslides. The head of OPM has stated that those agencies that were directly impacted by the disaster are in the “best position” to manage the leave transfers and decide which workers are in the most need of help. For those who need extra time off to recover from the flooding in Kentucky, they are able to apply directly with their employing agency. OPM announced that they should only reach out to the personnel agency if they did not receive an ample amount of leave from their agency.
Until Next Time,
**Written by Benjamin Derge, Financial Planner, ChFEBC℠. The information has been obtained from sources considered reliable but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Benjamin Derge and not necessarily those of RJFS or Raymond James. Links are being provided for information purposes only. Expressions of opinion are as of this date and are subject to change without notice. Raymond James is not affiliated with and does not endorse, authorize, or sponsor any of the listed websites or their respective sponsors.
