Berry & Berry, PLLC, an employment and labor law firm located in Northern Virginia that specializes in federal employee, security clearance, retirement and private sector employee matters.

By Kimberly H. Berry, Esq.

Early retirement is a consideration for many federal employees.

Federal agencies that are undergoing major organizational changes such as reorganization, reduction in force (RIF), reshaping, or downsizing can be given the option to offer federal employees voluntary early retirement based on the Voluntary Early Retirement Authority (VERA). The Office of Personnel Management (OPM) provides guidance on VERA here. VERA is the legal authority given to specific federal agencies so that they may offer early retirement options to employees.

VERA authority can provide a federal employee an opportunity to retire early with better financial options. In addition to VERA, federal agencies may also be given Voluntary Separation Incentive Payments (VSIP), which can range up to $25,000. OPM has published guidance on VSIP payments here.

VERA and VSIP were designed to assist agencies that need to implement organizational changes while also making it possible for federal employees to receive an immediate annuity payment years before they would normally be eligible. The voluntary early retirement provisions are the same under the Civil Service Retirement System (CSRS) and the Federal Employees Retirement System (FERS).

Federal Employee Requirements for Early Retirement for...

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