1. What is Navy Federal Selling Leave?

Navy Federal selling leave allows service members to sell back unused leave days at their current daily rate. This provides financial compensation for leave that cannot be used before separation or retirement.

2. How Does the Calculator Work?

The calculator uses the Navy Federal selling leave formula:

Where:

• \( Days \) — Number of leave days being sold
• \( Navy\_Rate \) — Daily rate in dollars ($/day)

Explanation: The calculation multiplies the number of leave days by the service member's daily rate to determine the total compensation.

3. Importance of Selling Leave Calculation

Details: Accurate calculation ensures service members receive proper compensation for unused leave days and helps with financial planning during separation or retirement.

4. Using the Calculator

Tips: Enter the number of leave days and your current daily rate. Both values must be positive numbers to calculate the total pay amount.

5. Frequently Asked Questions (FAQ)

Q1: How many leave days can I sell back?
A: Typically, service members can sell up to 60 days of leave throughout their career, but specific policies may vary.

Q2: How is the daily rate calculated?
A: The daily rate is typically based on your basic pay divided by 30 days.

Q3: When can I sell my leave?
A: Leave is usually sold during separation, retirement, or at the end of a fiscal year under certain circumstances.

Q4: Are there tax implications?
A: Yes, sold leave is considered taxable income and will be subject to federal and state taxes.

Q5: Can I sell leave multiple times?
A: There are limits on how many times you can sell leave and maximum cumulative amounts, typically 60 days total.