Q: Under CSRS, do you still get your lump sum CSRS contributions back if they completely abolish your position, and are not offered in writing an equivalent position? This would be in addition to your full retirement benefits, minus age penalty. I am 47 1/2, with 31 years of CSRS service, and the only shop planner in my position description. They are talking about wiping out our maintenance department and contracting out. My dad retired about 15 years ago when they abolished his job, and he got his contributions back. Has this changed? A: Because you’d be eligible for discontinued service…
Browsing: downsizing
With downsizing a likely step as the government adjusts to budget realities, questions have been pouring in about how agencies will handle staff reductions. Outside of relying on attrition, agencies have two options to get their numbers down while softening the blow for employees: the Voluntary Early Retirement Authority (VERA) and the Voluntary Separation Incentive Program (VSIP). Under VERA, an agency can offer employees an opportunity to retire early. The Office of Personnel Management designates the specific geographic area and occupations where the VERA applies. It also stipulates the time during which the “early outs” will be offered. If needed…