Hey Uncle Sam, offering buyouts will save money; This applies to the Postal Service as well

Article Title: Letter to the editor: Hey Uncle Sam, offering buyouts will save money
Snippet of Article: "...trying to understand why Congress cannot DO THE MATH. You have 77,000 federal workers ready to retire. They are waiting for the next buyout to be offered, whether it be $40,000 or $25,000! If you offer this, you’d reduce your budget, even I know sometimes in life you have to bite the bullet and spend money to make money! Meaning you offer the buyout to the federal workers who are at the top of their salary scale, and the person you hire in their place you pay less money, thus saving money on each person that is replaced..."

Source: federalnewsradio.com

[tag] Federal Employee News, Federal Civil Service, [/tag]

White House Wants to Increase Federal Employee Buyout Payments

Article Title: White House Wants to Increase Federal Employee Buyout Payments
Snippet of Article: "...VSIP’s $25,000 cap has been in place since it was first enacted in 1993. The Defense pilot program came in part because of the Pentagon’s effort to reduce its headquarters staff by 25 percent by 2020..."

Source: www.govexec.com

[tag] Federal Employee News, Federal Civil Service, VSIP, [/tag]

What is the maximum you can get in a buyout (VSIP)

Article Title: Voluntary Separation Incentive Payments
Snippet of Article: "...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. When authorized by the Office of Personnel Management (OPM), an agency may offer VSIP to employees who are in surplus positions or have skills that are no longer needed in the workforce who volunteer to separate by resignation, optional retirement, or by voluntary early retirement, if approved. By allowing employees to volunteer to leave the Government, agencies can minimize or avoid involuntary separations through the use of costly and disruptive reductions in force (RIFs). Agencies such as the Department of Defense that have been granted agency-specific VSIP authority are not required to seek OPM approval for their use of this option..."

Source: www.opm.gov

[tag] Federal Employee News, Federal Civil Service, Federal Employee Buyout, buyouts (VSIP), VSIP, [/tag]

GAO to offer early retirement (VERA), buyouts (VSIP)

Article Title: GAO to offer early retirement (VERA), buyouts (VSIP) [PDF]

On August 8, 2011, GAO (via memo) announced a Voluntary Early Retirement (VERA or Early Out) opportunity and the upcoming possibility of a Voluntary Separation Incentive Payment (VSIP or Buyout) for specified positions. Approved employees must separate, without exception, by September 30, 2011. You can read the Memo in its entirety here.

Source: Federal Employee News

[tag]Federal,Voluntary Early Retirement (VER), buyouts (VSIP), GAO. 2011, [/tag]