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Search Tags: VSIP
Now that early-outs and buyouts are popping up in various agencies, the obvious question, for younger and older workers is: What's in it for me? Unlike the one-size fits all buyouts of the 1990s, the new version is tailor-made to individual groups, grades and regions, Senior Correspondent Mike Causey says.
There was a time when no self-respecting federal worker would take an offer to retire early unless it was accompanied by a $25,000 buyout. But after two-plus years of a pay freeze and furloughs in the forecast, attitudes may have changed, Senior Correspondent Mike Causey says.
A list of agencies considering or offering buyouts and early retirements in 2012.
Employees have until Nov. 9 to apply for a Voluntary Incentive Separation Payments (VSIP) and they must leave the agency by Dec. 31. Employees have until Nov. 30, 2013, to apply for a Voluntary Early Retirement Authority.
The IRS is the latest agency to join the 2012 buyout parade. Employees in other agencies should study it because it may be the model for similar buyouts governmentwide, Senior Correspondent Mike Causey says.
Billy Milton, chief human capital officer at the USDA, tells The Federal Drive with Tom Temin and Emily Kopp about the Agriculture Department's successful approach to managing its workforce in tough budgetary times.
The Air Force is hoping the third time will be the charm in its efforts to trim its civilian workforce, announcing Friday a third round of buyouts and early retirements. The service plans to begin offering Voluntary Early Retirements and Voluntary Separation Incentive Payments beginning May 1. Applications will be due by May 14 and those approved will need to leave federal service by Aug. 31.
Tammy Flanagan, the senior benefits director for the National Institute of Transition Planning, joined In Depth with Francis Rose to discuss the pros and cons of taking a buyout.
TSA is offering targeted early retirements, but certain mission-critical employees cannot apply. NGA is offering 150 buyouts.
The Agriculture Department's closing of 259 offices could result in buyout offers, said the agency's deputy secretary. This week Agriculture Secretary Tom Vilsack said the closures would save about $150 million year in the agency's $145 billion budget.