The 2017 defense authorization bill increases the amount DoD workers get for leaving their jobs by $15,000. The bill, signed into law by President Obama on Friday, provides up to $40,000 in retirement incentives for eligible civilian employees.
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.
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.
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 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.
A list of agencies considering or offering buyouts and early retirements in 2012.
IRS will offer buyouts to employees who do not deal directly with taxpayer services. It\'s possible that a second round of buyouts will be offered to a wider range of employees.
Would you take a buyout if the boss offered you one? You might want to decide now because if and when an offer comes, it won\'t be on the table very long, Senior Correspondent Mike Causey says.
The Air Force is planning to make payments to civilian employees to encourage them to leave the federal payroll, in addition to offers of early retirement. The service is trying to get to the level of civilian employment authorized under DoD\'s civilian hiring freeze, which mandates the department maintain its non-uniformed workforce at fiscal 2010 levels.
A list of federal agencies that considered or offered buyouts and early retirements in 2011.
Coming soon to a federal agency near you: buyouts. So do you fit the profile? Are you buyout bait or, asks Senior Correspondent Mike Causey, will you be the last person left to turn out the lights?
What if Uncle Sam offered you an enhanced pension, a $50,000 one-shot payment and a pony to retire or take early retirement. Would you do it? Before you say yes, Senior Correspondent Mike Causey says there is a slight hitch you should be aware of.
Taking a buyout, says financial planner Arthur Stein, will make sense for some but not for others. He explains how to tell which camp you might be in.