Browsing: VSIP

Q. I have read conflicting views on whether the Voluntary Separation Incentives Payments (VSIPs) and annual leave payments are subject to the earnings test. Other sites report under Office of Personnel Management rules monies you earn in the year in which you retire are not subject. Does this mean if I retire in March and lump sum payment for annual leave and a VSIP is paid that year, it does not count against my supplement?

Q. I am 51 on Dec. 19, 2017. I have been with the government for 34 years. I have been offered Voluntary Separation Incentive Payment and Voluntary Early Retirement Authority. Can I take advantage of both? If I accept the VSIP and get the $25,000 buyout, can I keep my health insurance and benefits for life thru VERA? From my understanding, if I accept the VSIP, I will lose my health benefits in 18 months. Since I qualify for both VSIP and VERA, can I take both and get the buyout and keep the health benefits?

Q. I have 10 years in FERS, and I’m 60. I am being offered a Voluntary Separation Incentive Payment in August. I turn 61 in October. It is my understanding that my annuity be reduced by 5 percent for each year I’m under 62. Since I am turning 61 in October, will they only reduce my annuity by 5 percent instead of 10 percent? Lastly, when I turn 62, will my annuity reduction stop and go back to what I would have received at the age of 62?

Q. I am a civil service employee that was involuntarily retired from the Department of Defense in 1997 due to base closure. I received a VSIP/VERA in the amount of $25,000. At the time I was 47 years old with 23 years plus four years of military time, which was credited toward retirement. Three months later I was hired by the U.S. Postal Service. I have been there for a little more than 19 years now. I am 66 years old now and am considering retirement this year. Will I be allowed to retire with the total years of service or…

Q. I always thought that when you’re offered a VERA/VSIP bonus, it only applies to people that don’t have the years and age. What if I have both age and years? Will I still be offered the VERA?

1 2 3 22