Q: If I meet the requirements for retirement (I am 65 with 20 years), and I get caught in my agency downsizing, will I get a chance to retire or will I lose my retirement benefits and have to leave the federal government? A: Yes, you will be able to retire.
Browsing: DOWNSIZING
Q: I am 50 with 30 years of service. Will I be penalized if I take the early buyout at age 50 or at any age before my MRA of 56 years? If I draw my retirement at age 50, will I be entitled to receive my FERS supplement at age 56? A: Yes, as a FERS employee you would be eligible to retire without the age penalty. That’s because you are at least 50 and have at least 20 years of service. As for the special retirement supplement, you’d be eligible to receive that when you reach your minimum…
Q: I turned 62 in September. I have 29 years of service as a FERS employee. I’m thinking of retiring Jan 31. I work for the Federal Aviation Administration. Is there any possibility that the government will offer buyouts or early buyouts before I retire? Or is it a possibility that they will offer them later in the year? A: We have no information about potential early retirement opportunities or buyouts. Your best source of information about them will come from your own agency.
Q: I left the Postal Service in 1999 to go to Arizona and received the refund then, and was reinstated in 2001. I’m 48 and in FERS. I bought back my military time already. I’m making biweekly payments to buy back the 13 years I lost when I left Rockford, Ill., in 1999. If the Postal Service offers a VERA, would I be eligible and given the opportunity to pay the balance due to buy back my time? Or do I need to make a full payment now to get the credit and be eligible if the VERA happens? A:…
Q: I have been offered VERA and VSIP from my organization. I am 51 and have 28 years of service. Will I receive a Social Security supplement if I retire now or will I have to wait until I reach my MRA of 56? A: You will have to wait until you reach your MRA.
Q: I am a 47-year-old CSRS employee with 29 years of experience. I am thinking about applying for a position at another federal agency, but I am wondering if I would still be eligible for an early out as a new employee at another agency? A: Yes, if one were offered.
Q: I worked for a federal agency that has offered a VERA/VSIP. If employees in positions identified as part of the buyout choose not to leave voluntarily, is there a chance that these jobs would be identified for RIFs or furloughs? Is there any history of this in the federal government? My thinking is yes. Here’s why. If your position is part of a buyout, but you choose not to leave, it would seem that if the agency needs to make further reductions, the positions identified for the buyout would be the first to be identified for other solutions to…
Q: I am a Defense Department employee under CSRS with approximately 41 years/five months of service. My agency is offering buyouts for VSIP/VERA. I would like to take advantage of the VSIP, however, it is my understanding that because I received severance pay in the past (1992 for approximately 50 weeks due to TOF action) the $25,000 VSIP bonus will be reduced. How is this determined and what formula will I use? In using the formula, do I use my basic pay in 1991/1992 or my current basic pay? A: The VSIP is calculated using the severance pay formula in…
Q: I am postmaster in an EAS 11 office, which is on the list for possibly being closed. There are no vacant postmaster positions within my reach, either by level or geographically. I am eligible for FERS retirement, but had planned to work a few more years until reaching minimum Social Security age. If my office is closed, I lose my postmaster position, and have no realistic options for transfer. Would I be eligible for unemployment benefits? A: Probably. However, only your state’s unemployment security agency can make that determination.
Q: I am 58 and have 35 years service under CSRS. If my agency offers buyouts, can I get the buyout? A: Yes, if you are offered one. The fact that you are already eligible to retire is irrelevant.