Q: I am a 49-year-old FERS employee with 27 years of service and am currently eligible for a VERA & VSIP. I am considering resigning or retiring for another non-federal position to remain in my current location. I would like to lock in my retirement and benefits eligibility, yet avoid all the reduction of purchase power the early retirement with no COLA until age 62 will result in. What is my best option to accomplish this? Am I eligible for a postponed retirement through VERA, and will that enable my eligibility for my health care, LTC, and life insurance? A: Because you…
Browsing: VERA
Q: What is the status of VERA/VSIP being offered in September and December 2011? Has it been approved? When will we know if we are eligible to receive the incentive and retire? A: We haven’t heard a thing. Nor are we likely to hear anything before you do.
Q: I am contemplating retiring under a Voluntary Early Retirement Authority (VERA)/Voluntary Separation Incentive Payment (VSIP) authorization that expires Sep. 30, 2011. I realize I will take a two year, one month penalty. My question is, as a CSRS retiree, if I return to employment outside of the federal government, what is the maximum percentage of earnings I can make without affecting my annuity? A: Whether you get a job in or out of the federal government, there wouldn’t be any limit on the amount of money you can earn after you retire. However, if you returned to work for…
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: My small government agency lost almost 25 percent of its budget for FY11, and for FY12 it will be cut an additional 25 percent. From now until Sept. 30, they plan on reorganizing, offering VSIP and VERA, cutting back on all contractors and reduce contracts, etc. After all of this, they project that they will be $500,000 to $600,000 short for this year, and they are looking at furloughing everyone for one day each pay period for the last five pay periods of the fiscal year (total five furlough days). My question is, does an agency have the discretion…
Q. I took the Postal Service’s Voluntary Early Retirement Authority in July 2009. I am under FERS and had 25 years of service in the post office when I took the VERA. OPM has let us know that in May, I will be getting my annuity supplement based on the VERA. I decided to go back to work full time after a year and a half off work. I will be making about one-third of what I was paid in the post office. How much am I allowed to make before my supplement is reduced or taken away? Since I am starting midyear, are the…
Q: Will the Labor Department/Mine Safety and Health Adminstration be taking part in the Voluntary Early Retirement Authority this year? A: We haven’t heard a thing.
Q. I retired with a Voluntary Early Retirement Authority on Dec. 31, 2008; am I entitled to one-half of my unused sick leave? I heard that if the bill passed within one year of your retirement date you would be entitled, and, if so, how do I go about receiving compensation? A: You are misinformed. The provision allowing FERS retirees to get credit for unused sick leave applied only to those employees retiring on or after the date the law was enacted, which occurred on Oct. 28, 2009.