[Code of Federal Regulations] [Title 5, Volume 1, Parts 1 to 699] [Revised as of January 1, 2001] From the U.S. Government Printing Office via GPO Access [CITE: 5CFR550.1204] [Page 550] TITLE 5--ADMINISTRATIVE PERSONNEL CHAPTER I--OFFICE OF PERSONNEL MANAGEMENT PART 550--PAY ADMINISTRATION (GENERAL)--Table of Contents Subpart L--Lump-Sum Payment for Accumulated and Accrued Annual Leave Sec. 550.1204 Projecting the lump-sum leave period. (a) A lump-sum payment must equal the pay an employee would have received had he or she remained in the Federal service until the expiration of the accumulated and accrued annual leave to the employee's credit. The agency must project the lump-sum period leave beginning on the first workday (counting any holiday) occurring after the date the employee becomes eligible for a lump-sum payment under Sec. 550.1203 and counting all subsequent workdays and holidays until the expiration of the period of annual leave. The period of leave used for calculating the lump-sum payment must not be extended by any holidays under 5 U.S.C. 6103 (or applicable Executive or administrative order) which occur immediately after the date the employee becomes eligible for a lump-sum payment under Sec. 550.1203; annual leave donated to an employee under the leave transfer or leave bank programs under subparts I and J of part 630 of this chapter; compensatory time off earned under 5 U.S.C. 5543 and Sec. 550.114(d) or Sec. 551.531(d) of this chapter; or credit hours accumulated under an alternative work schedule established under 5 U.S.C. 6126. (b) For employees whose annual leave was held in abeyance immediately prior to becoming eligible for a lump-sum payment, the agency must project the lump-sum payment beginning on the first workday occurring immediately after the date the employee becomes eligible for a lump-sum payment under Sec. 550.1203, consistent with paragraph (a) of this section.