Ask The Experts: Retirement

By Reg Jones

VSIP Amount Calculation

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Q. I received $19,100.00 severance pay in a RIF in 1996. In 2000 I was re-employed by the Federal Government. I am now considering a VSIP. What amount can I expect? I am 72 years old with 20 years of service. Read the rest of this entry »

VERA/VISP offered in 2014?

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Q. Is a VERA/VISP going to be offered in 2014?
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FERS rehired annuitant and VERA/VSIP

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Q. I am a discontinued service rehired annuitant. I worked at a U.S. Army post and was phased out during a base closure and realignment in 2011. I received priority placement in 2012 at a nearby Army post and was rehired. I’ve been here almost two years. VERA/VSIP is now being offered with a $25,000 buyout. I have the age and years in. I’m not interested in leaving yet; but as a FERS rehired annuitant, would I be eligible for the VERA/VSIP $25,000 buyout presently being offered? Read the rest of this entry »

VSIP and insurance for retirement

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Q. I am a CSRS employee, 55 years old with 31 years of service. If I receive a voluntary separation incentive payment, is it reduced by six weeks of severance pay I received in 1997? Would my spouse be able to keep FEHB family plan if I die? When I use the advanced retirement calculator it shows 75 percent reduction for basic insurance. Is that automatic? And does FEGLI pay out the same death benefit as currently indicated in my Employee Benefit Information System? Read the rest of this entry »

Government employment after VSIP

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Q. I retired 20 months ago and received a voluntary separation incentive payment. I can get a non-career part-time job with the U.S. Post Office that has no benefits with it. I retired from an army base public works which is DOD. Will this job effect my VSIP and retirement? Read the rest of this entry »

NTE position and VSIP eligibility

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Q. Would I be eligible for a Voluntary Separation Incentive Pay if offered? I am 57 and will have 33 years of service under CSRS in June. I took an NTE position in 2009 that ended in Sept 2011 and was unemployed from Sept. 30, 2011, to June 2012, when I was reinstated. Because I had the break in service — and since that break have been working less than three years continuously, would that make me ineligible for a buyout?

Also, is there a limit on how many times you can be turned down for a VSIP or any recourse after multiple times while others get approved for it?

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Buyout eligibility

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Q. If a person qualifies for a buyout, does the position have to qualify for it?

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VERA/VSIP

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Q. Would I be penalized if I am a FERS employee, 49 years old with 26 years of government service. I just got a GS-11 job, so I do not have a high-3 at that level. My high-3 is at the GS-7. My job is offering the Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay. Can I go out with no penalties?

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RIF

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Q. Is there always a reduction in force after a Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay?

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VERA and severance pay

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Q. I began working for the Defense Department in 1981. In 1993, I took a Voluntary Separation Incentive Pay. I received severance pay at that time. I came back to work in 1998. My adjusted service computation date is 1987. I have 26 years with DoD, and I am 52. If a Voluntary Early Retirement Authority is offered and I apply, provided I am approved, would I receive severance pay minus the amount I received in 1993 or none at all?

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VSIP and severance pay

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Q. I have been approved for a Voluntary Separation Incentive Pay and, on the letter, it asked me if I ever received severance pay. I did when my Defense Department position at the base I worked closed in 1996. I received eight weeks of severance pay. I was put on priority placement and accepted a position in DoD in August 1997. I have worked the same position since. What, if anything, does my severance pay have to do with the VSIP payout. Does the amount get reduced by the severance pay I received at the other DoD position?

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VSIP considered income?

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Q. I retired in March 2012. I got a Voluntary Separation Incentive Payment paid to me after I retired. I started my Social Security at that time. I have recently gotten several confusing letters from the Social Security Administration saying I owe them different sums of money for overpayment due to having too much income. They are including my buyout gross payment as regular income.

Is there some official source you can give me to pass onto them that my $25,000 should not be considered in my earnings putting me over the limit for receiving benefits following my retirement. I am submitting a Form 131, but it just refers to severance, and I can’t find an absolute statement that says VSIP payments fall in that category. I have heard it informally as severance due to retirement, but I would like something official.

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FERS early retirement and eligibility for contract work

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Q. If I take an early-out at age 55 with no penalty plus $25,000 incentive bonus, is there any penalty if I accept a SETA or CSS contract position with the same agency?

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VSIP and health insurance

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Q. I am 52 years old, 25 years in FERS, potentially being offered a Voluntary Separation Incentive Pay. If I do the VSIP, I will be employable at my current salary outside the government.

If I take the VSIP, can I carry my Federal Employees Health Benefits into retirement if I pay for it?

Can I delay collecting my retirement until age 62 and carry my FEHB through to retirement?

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VERA/VSIP and health benefits

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Q. I have eight years and six months working for the federal government, but I am 64 years old. No CSRS time, only FERS. Am I eligible to participate in the Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay, if one is offered and would I be able to carry over my health care benefits?

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VSIP and severance pay

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Q. I have 25 years of Defense Department service and am 62 years old. I have FERS retirement. In 1996, the government facility that I was employed by closed and I was given eight weeks of severance pay. If I accept a Voluntary Separation Incentive Pay offer of $25,000, will I have to pay back my severance pay?

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Refund of military service deposit

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Q. If I have repaid my military service deposit but then resign from federal service, can I request a refund of the military service deposit? Also, if my agency is offering Voluntary Separation Incentive Pay, does the military service deposit count toward the VSIP buyout?

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VSIP eligibility

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 Q. Due to reaching my mandatory removal date while on an Active Guard Reserve tour, I did not have the necessary active-duty time of 20 years to earn a full Army retirement. I was eligible for Army Separation Pay, which I received in 1998. Upon reaching age 60 in 2008, I began to pay back the separation pay so that I would be eligible for Army retirement pay. I have been an Army Civil Service employee since March 2004 and my organization has offered a Voluntary Early Retirement Authority/Voluntary Separation Incentive Pay. Am I eligible for it?

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VSIP and re-employment

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Q. I would like to know if the prohibition from working for a personnel services contract also applies to all other type of contracts (nonpersonnel services contract) after receiving a Voluntary Separation Incentive Pay?

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VERA/VSIP

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Q. I am a Defense Department FERS civilian. There’s a chance that where I am may offer a voluntary early retirement with an incentive of up to $25,000. If I decide to do an early retirement and receive up to $25,000, can I add that money onto my annuity?

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