Q. I am a term FAA employee. I was a permanent employee with the Department of Defense. I have 13 years of civil service. I have no military time. For 11 of the 13 years, I was a permanent employee with the Department of Defense. If a reduction in force occurs, do I as a term employee received the separation incentives usually offered to permanent employees? What benefits are term employees allowed, such as priority placement program, return rights, etc.? A. You couldn’t receive a voluntary separation incentive payment because only employees serving in an appointment without time limit are…
Browsing: voluntary separation incentive payment
Q. I am 55 with 24 years, and I am in the CSRS/Offset system. I took a VSIP in 1994 but was told at the time it would not affect the calculation of my retirement when I was ready to retire. 1) How would I find out if the 1994 VSIP does affect my annuity? I received a lump sum of $14,000, and it included my retirement and annual leave. 2) Do I have to redeposit those retirement funds to receive full annuity? If I retire at 56 with 25 years, how will my retirement be penalized? 4) What is…
Q. I noticed someone said if you are eligible for disability retirement, you can’t get a Voluntary Separation Incentive Payment. There are many requirements to be eligible for or awarded disability retirement. It is a complicated application process. If you applied and/or if you have a disability, why should this mean you are automatically eligible for it and therefore not eligible for VSIP? A. The rules are clear. If you have a disability such that you are or would be eligible for disability retirement, you are barred from receiving a Voluntary Separation Incentive Payment.
Q. My wife was a CSRS clerk for the Postal Service for 30 years, and on June 30, 2009, she retired at age 54 under a VERA and lost 2 percent because she was younger than 55. Two months after she retired, the Postal Service offered a VSIP of $15,000 to any clerk who wanted to retire because they didn’t get the numbers they were looking for. Would she be entitled to the $15,000 because she left under a VERA? A. No. The purpose of the Voluntary Separation Incentive Payment law is to encourage employees to retire, not to reward them…
Q. I am a career federal employee under the old CSRS who has approximately 37 years of federal service. I just recently put in my paperwork for Voluntary Separation Incentive Payment. I was wondering approximately how long it would be after I retire before I receive my lump sum annual leave and payment. I know there is a major backlog in the processing of “exact” annuity payments upon retirement, but can I assume these two payments are different in that regard? A. Your lump-sum leave payment and Voluntary Separation Incentive Payment will come from your agency. Your payroll office can…