Q. I am a FERS employee. On Aug. 31, 2014, I will meet my minimum retirement age of 56 with 30 years in. If my agency offers Voluntary Separation Incentive Pay three to four months before the Aug. 31 date, will my annuity still be penalized because I did not reach the full 30-year mark? Or would I still get the full 30-year annuity and the Social Security gap pay? If not, what would be the reason for any FERS employee to take an early-out if there is any type of penalization?
Browsing: VSIP
Q. I was honorably discharged from the Air Force in September 1992 under the Voluntary Separation Incentive program. I had 16½ years of service. I have received VSI payments each year since, and am due about 12 more payments. In May 2000, I went to work for the Department of Labor under FERS. At the end of this year, I will have 13½ years of civilian service. I will also be 56 years old, my minimum retirement age, by the end of the year. Can I buy back my military time and retire at the end of the year with…
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. 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…
Q. If a government employee receives a Voluntary Separation Incentive Pay and goes to work a month later for a personal service contractor, is that person subject to repaying the $25,000? If so, who can one contact about repaying it or reporting others who have accepted the VSIPs and went to work for government contractors without paying the $25,000 back?
Q. With no budget in place and lack of funding being the basics for furloughs, is Voluntary Separation Incentive Pay still available? I’m 60 with 28 years’ service and can do an early retirement with the annuity for two years prior to age 62. There is some rumor about a reduction in force in the future. Will I be able to draw the VSIP and still get the annuity? I’m getting a lot of conflicting advice about funding for a VSIP.
Q. I am a FERS employee with a service computation date of Feb. 4, 2004. I have only been able to carry Federal Employees Health Benefits in the last four years and eight months because of a split in service. We are now being offered a Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay buyout. Would I be able to accept this buyout and still keep my FEHB even though I do not have a complete five years of coverage?
Q. I am a FERS employee who is 57 years old with not quite 25 years of service. I am being offered a Voluntary Early Retirement Authority along with Voluntary Separation Incentive Pay ($25,000). Would I be eligible for the special retirement supplement if I accept the VSIP? Would I be eligible if I don’t accept it? Is it true that, if I accept the VSIP, I can never apply for disability? That’s what I was told by my HR office. I am being given a very short (30-day) window in which to make all of these decisions.
Q. I have 25+ years at 63 years old and am eligible for FERS retirement. If I were to accept the Voluntary Separation Incentive Pay, would I be penalized for continuing to work with Wildland Fire as an administratively determined retired federal employee? No one in human resources seems to be able to answer this one. I suspect the way the language is written, the answer is no.
Q. Can you take the Voluntary Separation Incentive Pay payout over a period of time, not as a lump sum?