Interested in Retirement?
Voluntary Early Retirement Authority (VERA)
This offer applies to employees covered under both the Civil Service Retirement System (CSRS) and the Federal Employees Retirement System (FERS). When an agency has received VERA approval from OPM, an employee who meets the general eligibility requirements may be eligible to retire early.
Voluntary Separation Incentive Pay (VSIP)
This program is also known as "buyout authority," and allow agencies that are downsizing or restructuring to offer employees lump-sum payments up to $25,000 as an incentive to voluntarily separate. When an agency has received approval from OPM to offer VSIP, any employee (as defined in 5 U.S.C. 2105) who meets these general eligibility requirements may receive an offer.
3/4/2013 - As you may know, a VERA/VSIP program is now under way. Applications to participate will only be accepted until March 29 through the VERA/VSIP using the online form.
Supervisors and managers should ensure that all employees without email access and/or internet access receive a paper copy of the application and eligibility criteria.
Employees who do not have access to this weblink, must contact their designated HR Specialist or servicing personnel office for additional information.
VERA temporarily lowers the age and service requirements to allow approved employees to retire early. VSIP allows selected employees to receive an incentive payment of up to $25,000, before taxes, for voluntarily separating.
Once an offer is made, the employee has three days to accept or decline. For this effort, there is a very limited time frame in which offers can be made. This is an important decision. Please take time to review all of the information that will be provided and contact your servicing HR Office for more information. The following individuals can be contacted to assist you with questions on retirement, provide retirement estimates and any other questions you may have.
|AS-IA employees:||Toni Milmoe||(703) firstname.lastname@example.org|
|BIA employees:||Carl Renville||(503) email@example.com|
|BIE employees:||Audrey Duran||(505) firstname.lastname@example.org|
VERA Eligibility Requirements
Employees who are interested in taking advantage of the VERA must meet the following eligibility requirements:
- Covered by Civil Service Retirement System (CSRS) or Federal Employees Retirement System (FERS),
- Are 50 years old and have more than 20 years of service or are any age with 25 years of service,
- Are covered by the VSIP offer,
- Have been on the agency rolls at least 30 days prior to March 4, 2013,
- Are not serving under a time-limited appointment,
- Have not received a notice of involuntarily separation for misconduct or unsatisfactory performance, and
- Retirement date must be on or before May 4, 2013.
The VERA is offered only in connection with this VSIP/buyout. Eligible employees who apply for the VSIP but who do not receive it, may choose to retire under the VERA without a VSIP.
VSIP Eligibility Requirements
Employees are not eligible to receive a VSIP/buyout if any of the following apply:
- They are reemployed annuitants,
- They are eligible for a disability retirement,
- They are serving under an appointment with a time limitation,
- They have not been employed by the Federal government for three (3) continuous years,
- They are in receipt of a decision notice of involuntary separation for misconduct or unacceptable performance,
- They have previously received a VSIP from a Federal agency,
- They are covered by statutory reemployment rights from another organization,
- They have received a recruitment or relocation incentive within the 24-month period preceding separation,
- They have received a retention incentive within the 12-month period preceding separation,
- They have received a student loan repayment benefit during the 36-month period preceding separation,
- They are in a position that is not covered by the VSIP or excluded by the agency’s buyout plan (Refer to Agency position eligibility links).
Information for Employees
For more information:
Voluntary Early Retirement Authority (VERA)
Voluntary Separation Incentive Payments (VSIP)
OPM Guide to Voluntary Early Retirement Regulation
OPM Guide to Voluntary Separation Incentive Payments
FAQs about Retirement Benefits
Employee’s Guide to Buyouts
Calculating Voluntary Separation Incentive Pay (VSIP)
Employee VERA VSIP Information, VSIP Calculator and POCs 3-5-13