Browsing: buyout

Q: I worked in a federal job for 28 years and accepted a bonus for early out and transition to a contractor that was taking over IT jobs. I worked for the contractor for two years and retired. I want to know if I can qualify for rehiring with the government and, if I was offered a position, how would that affect my retirement pay and salary? A: If you accept a paying job with the federal government within five years of the date of the separation on which that buyout was based, including work under a personal-services contract or…

Q: Do you think the Postal Service will offer another buyout anytime soon? I have 31 years, with military time. A: I haven’t heard anything that would suggest that the Postal Service plans to do that and, unfortunately, I can’t predict what it might do in the future.

Q: I recently retired from the Postal Service under the incentive/buyout offer. If I seek another government position, will I be required to pay back the buyout money I received? A: Yes. If you received a buyout and later accept a paying job with the federal government within 5 years of the date of the separation on which that buyout is based, including work under a personal services contract or other direct contract, you must repay the entire amount of the buyout to the agency that paid it to you before your first day of re-employment.

Q: My agency is considering offering buyouts. I am over 50 and have 26 years of government service. Typically, government buyouts are extended to those who have at least 25 years of service and are at least 50 years old. If I go to full retirement at 30 years of service, I would retire with a special federal Social Security supplement until I reach the age of 62, at which time the special supplement would end. If I accept a buyout, would I still get the special Social Security supplement with my federal retirement? A: If you accepted the buyout,…

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