Federal government agencies are moving to reduce their budgets through a Reduction in Force (RIF), leaving federal workers feeling lost and confused. To help bring clarity during these drastic cuts, fact sheets have been developed on the important and very timely topics impacting you right now.
Each fact sheet serves as an easy-to-read resource designed to simplify various federal benefits topics. By removing the ambiguity and answering very common questions on each topic, you can better navigate your decisions and understand the consequences of each program.
This first round of fact sheets focuses on the Voluntary Early Retirement Authority (VERA), Voluntary Separation Incentive Pay (VSIP), Discontinued Service Retirement (DSR), and Severance Pay, with more resources coming soon.
All fact sheets are downloadable in PDF format.
Voluntary Early Retirement Authority (VERA)
The Voluntary Early Retirement Authority (VERA)—also known as an “Early Out”—allows agencies that are undergoing substantial workforce changes to temporarily lower the age and service requirements to allow more employees to voluntarily retire.
Discontinued Service Retirement (DSR)
The Discontinued Service Retirement (DSR) is one of the downsizing tools agencies can use to shrink the workforce. It allows agencies to involuntarily retire an employee who meets certain age and service requirements.
Voluntary Separation Incentive Payments (VSIP)
The Voluntary Separation Incentive Payment (VSIP) is one of the downsizing tools that agencies can use when needing to shrink its workforce. It allows agencies to pay cash to encourage an employee to leave federal service.
Severance Pay
The payment of a severance package is one of the downsizing tools that agencies can use when needing to shrink its workforce. It allows agencies to involuntarily remove an employee (for reasons other than misconduct or performance) who does not otherwise qualify for an immediate pension.
About Chris Kowalik
Chris Kowalik is a federal retirement expert and frequent speaker to federal employee groups nationwide. In her highly-acclaimed FedImpact Workshops, the FedImpact Podcast, and the FedImpact Webinars, she empowers employees to make confident decisions as they plan for the days when they no longer have to work. Chris’ candid and straightforward nature allows employees to get the answers they need and understand the impact these decisions have on their retirement.
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