Q. I am under FERS and will not be 62 until March 2016. My office is submitting paperwork to the Office of Personnel Management to extend Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay. I was considering retiring in December 2014, which would incur the early retirement penalty. Although I will have the age, I won’t have the years of service. My position may be identified as one that allows me to leave under VSIP. If so, and I take early retirement under VSIP, will the penalty still apply?
A. No, it won’t.