2014 Buyout and Early Retirement Guide

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

(This story was updated on Tuesday, July 15, 2014.)

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 as information on more buyouts becomes available.

2014 Buyout Guide

Agency

Description

Timelines


Air Force

The Air Force will offer early retirements and buyouts to civilian personnel, in order to eliminate nearly 3,500 positions. Interested employees can now apply.

Agency

Description

Timelines


Army Materiel Command

Army Materiel Command headquarters and many of AMC's major subordinate commands are offering VERAs and VSIPs. Among them: At Headquarters, the window to sign up ran from April 7-25. The command may offer approval to as many as 50 employees, according to a spokeswoman. The Communications-Electronics Command (CECOM) took offers between April 7-18 and may offer up to 330 approvals — 195 at Tobyhanna Army Depot in Pennsylvania. Up to 100 employees may be offered VERAs or VSIPs at the Army Sustainment Command. There have been two VERA/VSIP opportunities at Army Contracting Command this fiscal year. So far, nine applications have been approved. The command plans to offer additional opportunities in early fall.  

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.

Agency

Description

Timelines


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.

Agency

Description

Timelines


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.

Agency

Description

Timelines


Government Printing Office

The Government Printing Office is offering early-outs to 1,850 of its employees. The agency aims to reduce its workforce by 100 positions or 5 percent. Employees who wish to voluntarily separate from the agency will be offered lump-sum payments up to $25,000. Workers who opt for the early outs will have to separate by the end of the first quarter of FY 2015

Agency

Description

Timelines


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.

Agency

Description

Timelines


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.

Agency

Description

Timelines


PHMSA

The Pipeline and Hazardous Materials Safety Administration received approval from OPM to offer both early retirement and buyouts. The agency determined it could offer the incentives to a total of 17 employees across several occupational levels. The window to apply opened April 1 and runs through May 15.

Agency

Description

Timelines


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.

Agency

Description

Timelines


Transportation Security Administration

TSA will offer Voluntary Early Retirement Authority (VERA) to employees who have either completed 25 years of service at any age or 20 years of service and are at least 50 years old. Some mission-critical employees, such as air marshals and intelligence specialists, are not eligible for VERAs. Employees who accept the VERA must separate from the agency no later than Dec. 31.

Agency

Description

Timelines


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.

Agency

Description

Timelines


U.S. Postal Service

The U.S. Postal Service is offering buyouts and early-outs to more than 3,000 postmasters as part of its ongoing efforts to reduce costs. Postmasters who take the offer will receive a $10,000 buyout. Otherwise, they'll face a reduction in force. Selected employees have until Aug. 18 to take the offer. Those who accept the officer will need to leave the agency by Sept. 30.