Q. I am about to retire as a heavy equipment operator for the Department of Public Works. I have been offered a job as a property book manager with a contractor. Will I have to repay their Voluntary Separation Incentive Pay?
A. According to the Office of Personnel Management, “An employee who receives a VSIP and later accepts employment for compensation with the Government of the United States within 5 years of the date of the separation on which the VSIP is based, including work under a personal services contract or other direct contract, must repay the entire amount of the VSIP to the agency that paid it – before the individual’s first day of re-employment.” Whether this restriction will apply to you is something you’ll have to check out.
Motto: Look before you leap.