Q: I am in CSRS Offset. I received a VERA/VSIP buyout in 2001 and returned to work in 2008. I am 56 and have 28 years of federal service. I indicated on the recent survey that I would accept a buyout if offered. I am now told that I am ineligible for a buyout because a person can only receive one buyout in their lifetime. Is there any regulation that states an employee can only receive one buyout? A: Your agency is correct. For confirmation, go to www.opm.gov/employ/html/vsi.htm.
Browsing: buyout
Q: Are there any planned buyouts for 2011 or 2012? If so, for which agencies? A: We don’t keep an inventory of current offers, nor do we have advanced knowledge of future ones. I suggest you continue to visit our website and, better yet, subscribe to the Federal Times to be sure you have the latest information.
Q: Civilians working for Air Force Materiel Command could be getting buyout and early retirement offers. Some may be eligible for packages of up to $25,000. Is this offer going to be provided to all the Air Force Commands? If so, when? A: We haven’t heard anything. But as a guess, the likelihood is close to zero.
Q: I retired at the end of August 2010 and my agency is now offering a buyout for early retirement. Am I eligible for the buyout bonus? I meet the age and service requirements for voluntary early retirement. A: No. The sole purpose of a buyout is to entice employees to leave or retire. No incentive other than an offer of early retirement was needed to get you to retire. You can hardly expect an after-the-fact reward for having done so. Besides, the law wouldn’t permit it.
Q: I am a federal government employee under FERS who has worked for 26 years and may consider a buyout, if offered. If I become a FEMA Disaster Assistance Employee (DAE), will I be subject to an annuity offset? A: According to FEMA, “If you are a retired federal civil servant, your pay from FEMA may be subject to an offset. A copy of your annuity statement must be submitted to personnel yearly to be eligible for an annuity waiver during the first 120 days from the date of a presidential disaster declaration. The annuity waiver does not apply when deployed to…
Q: Is the Veterans Administration having any early out/buyout in the near future? A: Not there we’re aware of.
Q: Is there any regulation that prevents a BRAC-affected activity from offering Voluntary Early Retirement Authorities or buyouts? A: No, there isn’t any regulation that would prevent the offer of early retirement or buyouts; nor is there any requirement that they be offered.
Q: If someone accepts a buyout, can they come back and work as a part-time contract employee? A: According to OPM, “An employee who receives a Voluntary Separation Incentive Payment and later accepts employment for compensation with the Government of the United States within five years of the date of the separation on which the VSIP is based, including work under a personal services contract or other direct contract, must repay the entire amount of the VSIP to the agency that paid it — before the individual’s first day of re-employment.” You’d need to check with your agency to learn…
Q: My Agency has been authorized to offer employees an early out and buyout program this year with the requirement of being off the roles by Oct. 3, 2011. This is three days before I turn 55. However, I meet the years-in-service requirement. What will be the penalty if I take the early out/buyout three days before I turn 55 on Oct. 6.? A: At retirement age and service are counted in years and full months. Because you would be one month shy of your 55th birthday, your annuity would be reduced by roughly 1/6 percent.
Q: You stated in an earlier response to someone that if they accepted a buyout and returned to federal service sooner than five years, they’d have to repay “what they received” plus accrued interest. However, what I “received” from my buyout after taxes was only about $16,000. Isn’t it true I’d have to repay the entire $25,000 if I returned early? My second question is, when was the $25,000 threshold first established, and why hasn’t it ever been adjusted for inflation? A: I should have been clearer. If you return to work before five years have passed, you would have…