In order to help the government reduce costs and downsize, while taking care of federal employees in a humane manner, I would like to propose the below changes to the buyout and early retirement programs for federal employees.
* Voluntary Early Retirement Authority (VERA) Change
Employee Coverage
1. Federal employees would be eligible for VERA at any age with at least 1 year of creditable Federal service;
* Voluntary Separation Incentive Payment (VSIP) Change
The Voluntary Separation Incentive Payment will amount to 2.5 x an employee's total salary (Example: $25,000 x 2.5= $62,500). This payment calculation includes locality pay and is tax free.
* VERA and VSIP will be combined for all employees