SSA offers early retirement to 9,000 employees

Wednesday - 8/8/2012, 10:02am EDT

The Social Security Administration is offering voluntary early outs to about 9,000 employees — or more than 14 percent of the total workforce.

To be eligible, employees must have 20 years of creditable service and be at least 50 years old, or have at least 25 years of creditable service at any age, including five years of civilian service, according to an SSA email to Federal News Radio.

Employees must be serving under a non-time-limited appointment and have been continuously working for SSA since Dec. 26, 2011.

Also, employees under the Civil Service Retirement System (CSRS) must have served in a CSRS position for at least one year out of the two years immediately before retirement. This last requirement does not apply to employees under the Federal Employees' Retirement System (FERS).

The offer is effective immediately, and the date of separation is Sept. 30, 2012.

The early retirements are not buyouts. The email did not state SSA's target number for workers who retire early.

SSA is one of at least a dozen agencies offering buyouts and early outs.

Last year, SSA had implemented an agency-wide hiring freeze, with the exception of hearings offices. The agency also cut most overtime and expenses such as training and travel.

The Federal Times first reported this story.

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