The Voluntary Separation Incentive Payment Authority, also known as buyout authority, allows agencies that are downsizing or restructuring to offer employees lump-sum payments up to $25,000 as an incentive to voluntarily separate.

The Voluntary Separation Incentive Payment (VSIP or buyout) Authority allows agencies to offer lump-sum payments to employees who are in surplus positions or have skills that are no longer needed in the workforce, as an incentive to separate. Under VSIP, agencies may pay up to $25,000, or an amount equal to

The Workforce Restructuring website provides resources, information, and guidance on various aspects of restructuring for agency management, human resources offices, and employees. Topics include Voluntary Early Retirement Authority and Voluntary Separation Incentive Payments (also known as buyouts) which are tools agencies may use to avoid or ...

“buyout”, VSIP allows agencies that are downsizing or restructuring to -sum payments up to $25,000 (or the employee’s . severance pay amount, whichever is less) as an incentive to voluntarily retire or resign. 2. Who authorizes VERA and VSIP? Can it be delegated to my agency? The law only authorizes OPM to grant VERA and . RESPONSE RATE

Voluntary Early Retirement Authority (VERA) allows agencies that are undergoing substantial restructuring, reshaping, downsizing, transfer of function, or reorganization to temporarily lower the age and service requirements in order to increase the …

Retirement System (CSRS) and the Federal Employees Retirement System (FERS). The use of VERA is an option for increasing voluntary attrition in agencies that are undergoing substantial organizational change (e.g., reduction in force, reorganization, reshaping, delayering). Besides providing an incentive for

An employee will receive a lump-sum payment for any unused annual leave when he or she separates from Federal service or enters on active duty in the armed forces and elects to receive a lump-sum payment.

The Interagency Career Transition Assistance Plan (ICTAP) is designed to help Federal employees who have lost their jobs due to downsizing find positions in other Federal agencies. How the ICTAP Works:

Severance pay is authorized for full-time and part-time employees who are involuntarily separated from Federal service and who meet other conditions of eligibility. Eligibility for Severance Pay

Public Law 103-226, the Federal Workforce Restructuring Act of 1994 (FWRA), authorized certain Federal agencies to offer voluntary separation incentive payments (VSIPs) or buyouts to their employees who retired during the period from March 30, 1994, to March 31, 1995.