Browsing: buyout eligibility

Q. Is there such a thing as a buyout for Civil Service Retirement System employees who are already eligible to retire? A. When an agency offers a buyout, it does so to encourage employees to retire who would otherwise not do so. It confines those offers to individuals in organizations, occupations and grade levels where the need for staff reductions is greatest. The fact that someone is already eligible to retire would have no effect on his ability to accept a buyout.

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.