The USGS requested and received approval from the Office of Personnel Management (OPM) for the Voluntary Early Retirement Authority (VERA) or ‘early-out’ for all eligible USGS employees, except Senior Executive Service (SES). The authority is needed to help reduce overall workforce costs due to bureau budget constraints, sequestration, and continually rising fixed costs for salaries and facilities.
This early-out opportunity is being offered to all employees who meet the eligibility requirements for retirement effective between February 13, 2014 and September 30, 2014. Employees who choose to accept the VERA must be off the rolls no later than September 30, 2014.
To retire under the VERA, you must meet the OPM’s eligibility requirements. Employees covered under both the Federal Employee Retirement System (FERS) and the Civil Service Retirement System (CSRS), or CSRS offset must be:
- age 50 or older with 20 years creditable service, or any age with 25 years of creditable service,
- must have been continuously employed by the Department of Interior since September 29, 2013,
- be serving under an appointment without time limitation, and
- have not received a final removal decision based upon misconduct or unacceptable performance.
If you are eligible for early retirement, you will receive a letter which will provide you with important information on how to apply for early retirement. If you think you are eligible for VERA and do not receive this letter by February 18, 2014, contact your servicing Benefits Specialist .
- Memo from Deputy Director to All Employees
- Voluntary Early Retirement Authority (VERA FAQs)
- Planning for Retirement - including forms
- Listing of Servicing Benefits Specialists
|February 19, 2014||CSRS Planning for the Future – VERA||
8:00am - 10:30am Hawaii
9:00am - 11:30am Alaska
10:00am - 12:30pm Pacific
11:00am - 1:30pm Mountain
12:00pm - 2:30pm Central
1:00pm - 3:30pm Eastern
|February 20, 2014||FERS Planning for the Future – VERA||FERS Handout|
|March 5, 2014||FERS Planning for the Future – VERA||FERS Handout|
|March 6, 2014||CSRS Planning for the Future - VERA||CSRS Handout|