Q. I will be age 59 in May with 21 years in. How does VERA/VSIP apply? Will I be able to get the special retirement supplement until age 62, and at what age would it start?
A. The Voluntary Early Retirement Authority and the Voluntary Separation Incentive Payment are two different things. If an employee is offered a VERA, he can retire at age 50 with 20 years of service or at any age with 25. If he is offered a VSIP, he can accept the money and leave, regardless of whether he is eligible to retire.
Because you meet the age and service requirements to retire if offered a VERA or a VSIP, you could do so. Because you have already reached your minimum retirement age, you would be immediately entitled to the special retirement supplement, which would continue until you reached age 62.
