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 employees in the 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 except SES who meet the eligibility requirements for retirement effective between January 27 and April 3, 2015. Employees who choose to accept the VERA must be off the rolls no later than April 3, 2015.
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 interested in this voluntary early retirement offer, you are strongly encouraged to read materials on the Office of Human Capital website before making any decisions concerning your election of this early retirement opportunity:
- Contact your Benefits Specialist to obtain benefits counseling and verify you are eligible.
- Participate in a “Planning for the Future – VERA” webinar.
- Review your Federal Employees Benefits Statement in Employee Express.
- Memo from Deputy Director to All Employees
- Voluntary Early Retirement Authority (VERA FAQs)
- Planning for Retirement - including forms
- Listing of Servicing Benefits Specialists
|January 28, 2015||CSRS Planning for the Future – VERA||
Earnings and Leave Statement
Federal Employees Benefits Statement Available in Employee Express
Social Security Statement available at www.ssa.gov
TSP Statement available at www.tsp.gov
|January 29, 2015||FERS Planning for the Future – VERA||FERS Handout|