2014 Buyout Guide

Wednesday - 2/5/2014, 3:12pm EST

The ongoing budget crunch has caused some agencies to turn to buyout and early retirement offers in a bid to to restructure their workforces and trim their payrolls.

So far in 2014, a handful of agencies have announced their plans to offer Voluntary Separation Incentive Pay (VSIP) and Voluntary Early Retirement Authority (VERA).

If your agency is offering buyouts and/or early retirements but is not on this list, please email us.

The chart below will be updated.

2014 Buyout Guide

Agency

Description

Timelines


Broadcasting Board of Governors

The Broadcasting Board of Governors, which operates the Voice of America and other media bureaus, began offering $25,000 buyout and early-retirement offers to all employees starting Jan. 30. Employees interested in the buyout need to notify the agency by Feb. 14. and separate from the agency Feb. 28.

Bureau of Land Management

The Interior Department's Bureau of Land Management is offering both buyouts and early-retirements to IT services and support employees in agency headquarters and state, district, and field offices. Interested employees must apply by March 7 and separate between March 23 and April 4.

Environmental Protection Agency

The Environmental Protection Agency is seeking early-outs at 19 different program offices across its 10 regions. The American Federation of Government Employees says the early-outs are targeted to GS-13 through GS-15. Workers who opt for the early outs will have to separate by early April

Naval Air Systems Command

NAVAIR is offering both buyouts and early retirements as part of a "long-range workforce strategy." Early-outs are offered in waves based on employees' eligible retirement dates. Timelines for when employees need to separate by will be provided once employees have been contacted by HR

Naval Sea Systems Command

NAVSEA has received approval to offer limited buyouts and early-retirement offers to front-office headquarters staff, including public affairs, administration and IT positions. The agency hopes to realize a 20 percent reduction in headquarters staff. NAVSEA officials are still determining what reductions, if any, will be made. Separation dates will be determined on a case-by-case basis.

Social Security Administration

The Social Security Administration announced in late January it was offering VERAs to employees. Employees must be at least 50 years old with 20 years of federal experience or any age with 25 years of experience. Employees must notify SSA by May 9 and be off the rolls by July 31.

U.S. Geological Survey

USGS is offering early retirements through the end of the fiscal year to help reduce workforce costs. There are no agencywide VSIPs being offered, but some regions and missions areas have submitted independent requests for VSIP authority. Employees taking the VERA authority must be off the rolls by Sept. 30.