Q. 1. During the reduction in force in 1993, I resigned and received incentive pay. I am now CSRS Offset at age 52 with 26 years of service. If Voluntary Early Retirement Authority is offered, will I be eligible for incentive pay to retire early? 2. What if my job is abolished? I have been told that if my job is abolished, I could receive severance pay equal to one year of my salary. Is this correct?
Browsing: VERA
Q. I’m a FERS employee with 19 years of civil service who is turning 56 in November. If my organization offers a buyout, would there be any type of penalty for retiring earlier than Nov. 27, 2017 (my full retirement date, without penalty)? Would I be eligible for the special retirement supplement?
Q. I am 57 with 19 years of service under FERS. I also have two years of temp time with the government. Will the temp time count in the calculation of my special retirement supplement that starts at age 60 if I do Voluntary Early Retirement Authority and Voluntary Separation Incentive Pay next year at age 58 with 20 years?
Q. What is the difference between a deferred retirement and a postponed retirement for someone who meets the Voluntary Early Retirement Authority requirements for her agency?
Q. I am eligible for immediate FERS retirement at my minimum retirement age with more than 10 years of service. I am considering retiring under these conditions (including the 5 percent-per-year-under-62 penalty). But I understand that Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay is under consideration in my agency Department of Justice. If I submit a retirement application before VERA/VSIP is offered, am I ineligible for VERA/VSIP?
Q. I am 53 with 24 years of creditable service. My agency may offer a Voluntary Early Retirement Authority due to sequestration. If I am offered a VERA and I accept, I would start a Thrift Savings Plan annuity in the amount of approximately $5,000 per month. Is this considered income for the earnings limitation and the special retirement supplement? This would supplement my retirement annuity. I would be well over the $14,500 earnings limit. How would this impact any additional income from other private consulting work?
Q. I am a CSRS employee with 33 years at age 57. If we have a reduction in force or reorganization, would I be eligible for the Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay?
Q. I will be eligible to retire in September. My agency is also offering a Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay to qualified employees. In September 1995, I was part of a reduction in force. As a result, I eventually requested a refund of my retirement contributions. I was re-employed with the federal government in May 2001 under CSRS Offset and did not redeposit the refund. Will this affect the amount of my retirement annuity?
Q. I have just been notified that I am eligible for the Voluntary Early Retirement Authority being offered by my agency. I am 57 and have 23 years of service. I have “roughed” my special retirement supplement to $700 a month, and the FERS annuity would be $1,400 a month, for a total of approximately $2,100 a month. What amount would be taxable (federal and Social Security), and what would the taxes be, assuming that would be my only income?
Q. My age: 62 years, 10 months. I am under FERS. My years of service: 24 years, nine months My agency’s email of two days ago stated: You are receiving this notice because your position has been identified by your LOB as eligible to be considered for Voluntary Early Retirement Authority (VERA) and/or Voluntary Separation Incentive Payment (VSIP). The Request for Consideration Form asks which retirement I am interested in, and I have no idea what to answer based on my age and years of service. 1. I am interested in: Regular Retirement with VSIP VERA (Early Retirement) with VSIP…