Browsing: VSIP

Q. I am under FERS and will not be 62 until March 2016. My office is submitting paperwork to the Office of Personnel Management to extend Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay. I was considering retiring in December 2014, which would incur the early retirement penalty. Although I will have the age, I won’t have the years of service. My position may be identified as one that allows me to leave under VSIP.  If so, and I take early retirement under VSIP, will the penalty still apply?

Q. I have more than 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, I’m concerned what course would be most…

Q. I am 50 years old with 20 years of service from the military (retired). I have 10 years federal service. Do I qualify for Voluntary Separation Incentive Pay? If not, OPM Form 1496A is the application For Voluntary Early Retirement. Do I submit Form 1496A prior to terminating my employment or wait until I reach the minimum retirement age?

Q. My agency has offered me a Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay for at least the last five years. I have 10½ years active duty Army. I have 27 years as a government employee. I turn 55 in December. I am under FERS. My agency will offer me VERA/VSIP at the end of this year. I have not bought my military time yet, but I will do so. Will I be eligible for Social Security supplement or FERS annuity supplement? Is there a difference?

Q. How will Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay affect my retirement benefits (annuity supplement, pension and Thrift Savings Plan withdrawals)? I am a Defense Department civilian, age 58, with 21 years of service under FERS.

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