Browsing: VSIP

Q. I am a 66-year-old FERS employee with 31 years of service and may be offered Voluntary Separation Incentive Pay in the next few weeks. 1. If I resign to get VSIP instead of retire, will I be eligible for unemployment benefits? 2. What is the timeline for date of departure once a decision is made? Next pay period? 30 days? Negotiable?

Q. I am eligible for the Voluntary Separation Incentive Pay and plan on taking it. However, I recently finished buying back my military time, to put toward my federal retirement. Would I have been able to calculate my military service into my VSIP if I did not buy it back? If so, did I just waste my money by buying back my military service, and is there anyway to get that money back?

Q. I thought I had read that a FERS transferee going out under Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay would not rate the special retirement supplement. I do not recall where I saw this and am looking for verification if I may have misread something. Is there a special situation being a FERS transferee that would keep one from getting the supplement?

Q. I work for the Defense Department with 16 years of service. If the rumored next round of Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay occurs (and I should be 57 by then), can I take the VSIP, not pull my FERS retirement contributions and apply for the discontinued service retirement at 62? If yes, does my sick leave still count for calculating the retirement amount? Is giving up the DSR a requirement for VSIP?

Q. My Voluntary Separation Incentive Pay was approved with an effective date of Sept. 7. My retirement packet was received at Fort Riley on Sept. 17. I have not received any money for VSIP, annual leave or retirement due to the furlough. Will any of this money be paid during the shutdown, or will I have to wait until the new appropriation is approved?

Q. In September 2014, I will be 55 years old with 29 years of service. My minimum retirement age for full retirement is 56 (with 30 years). If I am offered a Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay in September 2014 and take it, when would I start drawing my special retirement supplement?  I will be 56 in March 2015.

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