Q: I am eligible for retirement under CSRS in October. Civilians at a local base are being polled to see how many would be interested in early retirement. Since they are under another command, we have not had that same opportunity. I kid with my supervisor about it, and he says that even if we were polled and I applied for early retirement, he could prevent it. Is that correct? A: If your agency offered you an opportunity to retire early or receive a buyout, there isn’t anything your supervisor could do to prevent you from accepting the offer.
Browsing: buyout
Q: I’m a 49-year-old federal employee with 28 years of service. I am anticipating there will be early out/buyouts coming soon. While I believe I can take either, given my 28 years of service, I would take a significant penalty for being younger than 55. Has there ever been an instance where if an agency becomes desperate to reduce the number of employees through an early out/buyout and does not meet the quota, would they accept an offer from an employee? For instance, I would gladly go if I did not get hit with the age penalty. If I made…
Q: Is there any talk of a buyout in FY12 for CSRS employees? I would think our employers would want us off the books so as to concentrate on FERS. A: No there isn’t any such talk, nor could there be unless the law is changed. Any offers of early retirement or buyouts would have to be made to all employees — CSRS and FERS alike — in the organizations, geographic areas, occupations and grades where reductions are needed.
Q: How soon can I return to federal service after taking a $25,000 buyout? I am a federal employee, GS-14. A: Five years. If you return before that, you’ll have to repay the amount you received plus accrued interest.
Q: I am 61 years old and have 31 years of federal service under the Civil Service Retirement System. I plan to retire in April 2012. Does it look like we will be offered a buyout? If so, is there anything that would keep me from being part of the offer? A: We have no information about which agencies, if any, will be offering buyouts, and even less information about which employees would be offered one. However, if you were offered one, nothing would prevent you from accepting it. The fact that you are already eligible to retire is irrelevant.
Q. How soon can I return to federal service after taking a buyout of $25,000. I am a federal employee GS-14. A. Five years. If you return before that, you’ll have to repay the amount you received plus accrued interest.
Q. I am a current CSRS employee and work for the Department of Energy. The department has recently proposed to reduce federal full-time employees by 30 percent by the end of fiscal 2012. One of the methods being considered is early outs and buyouts, including up to $25,000. Instead of cash buyouts, has any federal agency considered and/or been approved to provide years of service in lieu of cash? If this were allowed by OPM the near-term costs, 2 percent per year, would be minimal and the agency would not have to come up with the budget to cover the…
Q: I am 29 and I have been working for the government for a little more than five years. Am I eligible for the buyout? If so, how much would I be able to get? A: If you were offered a buyout, there would be nothing that would prevent you from accepting it. Unlike early outs, you don’t have to be eligible to retire to accept one. The amount of the buyout would be whatever your agency is offering to all those employees it has identified as being surplus to its needs, not to exceed $25,000.
Q: I am a FERS employee working for HHS/OIG. HHS has in past years offered buyouts, but I’ve been told that HHS/OIG employees are not eligible. If this is true, how can one department under one agency not be eligible? If government staff reduction is coming, shouldn’t any buyouts being offered be offered to everyone within that agency? Is there any action an employee should take to become eligible for buyouts? A: Voluntary separation incentives should not be offered to everyone within an agency. That would be a flagrant misuse of the authority. When approved by OPM, “an agency may…
Q: I have been employed with the as a probation officer for 22 years under FERS. Have you heard of any buyouts coming for the Southern District of New York? A: No.