[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.