Q. Is there an option to take buyout money as monthly payments rather than a lump sum, and what are the ramifications? I’ve heard there is an option but cannot find any information on it.
Browsing: VSIP
Q. I am a Department of Army employee covered FERS and not under law enforcement, which has a mandatory retirement age. I am 57 years old, a career employee, a 10 percent disabled veteran with 38 years of service. I have also had top block ratings in all of my previous five ratings. My plan was to stay until age 62 because provisions under FERS for retiring after 62/20 years of service will maximize my benefits. I am being told by management officials that I am going to be forced to retire because I would cause younger workers to be…
Q. When I take Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay and I have annual leave, are they combined into one lump sum for tax purposes, or are they separate?
Q. I have over 14 years of civil service. I’m retired military (20 years). I’m almost 58 years old. I fall under FERS. A while back, an email came down asking who would be interested in Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay. I replied in the affirmative. If they offer VERA/VSIP, my supervisor says he would not approve it for me, as he cannot afford to lose the position. My plan was to retire at 60, but if they offered VERA/VSIP, I would go earlier. With talk of reductions in force being thrown into the mix, I’m concerned what…
Q. I am 61. I retired from the Postal Service in October 2009 (CSRS). I received a Voluntary Separation Incentive Payment of $15,000. Do I have to pay this back before I to return to federal service, less than five years after my retirement date?
Q. I am 63 years old and have worked for Department of Labor for 14.9 years. My department is offering buyouts, but I can’t seem to find anyone who can tell me if I’m eligible. Is anyone with less than 20 years ever eligible?
Q. I am 55 with almost 10 years in FERS and 31 years military, for which I haven’t made a deposit. If a reduction in force happens, would I be eligible for a buyout or severance pay?
Q. Would the receipt of lump-sum leave payment (estimated $17,000) and a Voluntary Separation Incentive Payment (estimated $25,000) count against the earnings test to receive the special retirement supplement? If so, I assume that would effectively eliminate the supplement in the first years.
Q. My office has requested the Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay. With the government shutdown, there has been a delay in the approval process. My position is one within the organization that has been approved for VSIP once the authority is received. I am a FERS employee, over 50, with 26 years of creditable service. I plan to exercise the early-out authority once received, after Jan. 1, 2014, so that I will receive 100 percent sick leave credit toward my annuity. In the meantime, I applied for and have been offered a position in the private sector. They…
Q. I have applied for Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay. If I get it, according to the VERA/VSIP rules, I must retire on or before March 31. Could you please give me the best dates to retire, assuming it will take them a couple of months to process the papers?