The Voluntary Separation Incentive Payment Authority, also known as buyout authority, allows agencies that are downsizing or restructuring to offer employees lump-sum payments up to $25,000 as an incentive to voluntarily separate.

The Voluntary Separation Incentive Payment (VSIP or buyout) Authority allows agencies to offer lump-sum payments to employees who are in surplus positions or have skills that are no longer needed in the workforce, as an incentive to separate. Under VSIP, agencies may pay up to $25,000, or an amount equal to

The Workforce Restructuring website provides resources, information, and guidance on various aspects of restructuring for agency management, human resources offices, and employees. Topics include Voluntary Early Retirement Authority and Voluntary Separation Incentive Payments (also known as buyouts) which are tools agencies may use to avoid or ...

Voluntary Early Retirement Authority (VERA) allows agencies that are undergoing substantial restructuring, reshaping, downsizing, transfer of function, or reorganization to temporarily lower the age and service requirements in order to increase the …

“buyout”, VSIP allows agencies that are downsizing or restructuring to -sum payments up to $25,000 (or the employee’s severance pay amount, whichever is less) as an incentive to voluntarily

The Interagency Career Transition Assistance Plan (ICTAP) is designed to help Federal employees who have lost their jobs due to downsizing find positions in other Federal agencies. How the ICTAP Works:

eligible employees of the VERA opportunity. The agency must also advise interested employees on the amount of their annuity and related items. This process requires additional time and staff when eligible employees are widely dispersed and/or do not have access to …

An employee will receive a lump-sum payment for any unused annual leave when he or she separates from Federal service or enters on active duty in the armed forces and elects to receive a lump-sum payment.

Severance pay is authorized for full-time and part-time employees who are involuntarily separated from Federal service and who meet other conditions of eligibility. Eligibility for Severance Pay

If the employee returns to Federal service as a reemployed annuitant, he or she is entitled to the recredit of the remaining 50 percent of his or her sick leave.