Q. I am eligible for immediate FERS retirement at my minimum retirement age with more than 10 years of service. I am considering retiring under these conditions (including the 5 percent-per-year-under-62 penalty). But I understand that Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay is under consideration in my agency Department of Justice. If I submit a retirement application before VERA/VSIP is offered, am I ineligible for VERA/VSIP?
A. That’s up to your agency. However, since the purpose of the VSIP is to encourage employees to retire who wouldn’t be inclined to do that without the financial incentive, your agency would have no reason to offer it to anyone who has already officially declared his intention to retire.