Q: I have heard that the VA hospitals may be offering buyouts. Is this true? A: We haven’t heard a word.
Browsing: buyout
Q: I retired in July 2009, when I was 53 ½. I was a FERS employee, Air National Guard, and I retired early under the VERA (Volunteer Early Retirement Authority). I received a $25,000 buyout at retirement. I recently started a job with a private-sector company that overhauls aircraft parts for the military from all branches. About 90 percent of their business is from contracts. I was wondering if my retirement status would interfere with working for this company. Does this fall under the five-year rule? What kind of penalties, paybacks, or reduction in benefits would be associated with this…
Q: I am 53 years old and have 36 years of federal service. One catch: I don’t have the five years of coverage under a Federal Employees Health Benefit plan (I’m still four years short). If my office offers early out through downsizing or restructuring, approved by the Office of Personnel Management, can I retire and carry my health benefits into retirement, even though I don’t have five years of coverage? A: Yes, you would be eligible to carry your coverage into retirement because you would have been enrolled in the program at the time your agency received approval from…
Q. I am thinking of retiring in June 2011 at 55 years of age with 37 years of service. Is there going to be an VSIP/VERA scheduled for 2011 with the federal government, especially at Hill Air Force Base Utah? I received a letter stating that I qualify for this incentive. A. When early outs and buyouts are offered, we don’t learn about it any sooner than the affected employees do. You and we will have to wait and see.
Q. I took the USPS retirement buyout last October. When will we receive the final payment ($5,000)? A. That’s a question that can only be answered by your former agency.
Q. I was a FERS employee and received a $25,000 early out over five years ago. I would like to once again seek federal employment but do not know the rules covering my situation. I am sure that I would not have to repay the $25,000 since it has been over five years but do not know if I would surrender my retirement pay and receive the pay from the position I would seek. What are the rules for re-employment for retirees after five years of receiving the incentive to retire early? A. Because five years have passed since you…
Q: I retired from a federal agency this year and accepted a buyout from my organization. I am not ready to stop working and need to continue working part-time. I know that I cannot seek employment with another federal agency or contractor within five years without having to repay the buyout money. Does this rule apply to all other jobs, like working for public school systems, the state offices of congressman and senators, or state government offices? What are my options for seeking employment? A: The repayment requirement applies to all federal jobs. It doesn’t apply to employment with state…
Q: I understand the federal government is beginning to consider offering early outs. Can you confirm this? A: No.
Q: Is there another U.S. Postal Service buyout on the horizon? A: We haven’t heard a thing.
Q: I have 30 years of federal service and am under the Civil Service Retirement System. Next week, I will be 52 years old. I was thinking about retiring before age 55, and I know about the 2 percent reduction in monthly retirement benefits for every year under age 55. When I contacted the Office of Personnel Management about an early retirement, the answer was that I had to wait until age 55 to retire unless my agency offered an early out or buyout. Maybe I’m not using the correct terminology. Is there any way for me to “retire” before…