OPM offering 300 buyouts

OPM offering 300 buyouts

By Josh Hicks, Published: June 7, 2013 at 8:58 amE-mail the writer

The Office of Personnel Management plans to offer 300 buyouts to employees across 14 of its divisions, according to an agency official.

People walk past the EPA building on May 24, the first day of furloughs for the agency. (Mark Wilson/Getty).

People walk past the EPA building on May 24, the first day of furloughs for the agency. (Mark Wilson/Getty).

(Wikimedia Commons)

(Wikimedia Commons)

OPM will limit the number of buyouts for individual divisions to “avoid an unmanageable number of departures and diminished work capacity,” according to the OPM official, who spoke anonymously to discuss details of a plan the agency has not yet publicly announced.

The agency’s 2014 budget plan calls for a $2.2-million reduction in salaries and expenses. For 2013, the agency is set to spend about $91 million on such costs, roughly on par with the previous year. Continue reading “OPM offering 300 buyouts”

OPM Buyouts Could Threaten Progress on Retirement Claims Backlog

OPM Buyouts Could Threaten Progress on Retirement Claims Backlog

This story has been updated.

The Office of Personnel Management is offering buyouts and early retirement packages to hundreds of employees across the agency, according to a memorandum from Acting Director Elaine Kaplan.

OPM received approval to offer 299 buyouts and early outs to employees and will send individual emails to eligible workers on June 17, said Kaplan in the May 31 memo, obtained by Government Executive. OPM is using its flexibility to address a tight budget, Kaplan said, but the voluntary employee departures could have other consequences. The agency is offering 17 buyouts to employees in its retirement services division, the office responsible for processing retirement applications and clearing up the current backlog. The 17 buyouts are “limited to non-supervisory employees who are eligible for optional/regular retirement,” according to agency documents.

There are 955 employees in OPM’s retirement services division. Continue reading “OPM Buyouts Could Threaten Progress on Retirement Claims Backlog”

April Brings a Reprieve in Federal Retirement Applications

April Brings a Reprieve in Federal Retirement Applications

The Office of Personnel Management got some breathing room last month to deal with the federal retirement backlog, receiving fewer new claims in April than expected.

OPM reported that it received 7,059 new retirement applications last month, slightly under the 8,000 it projected and the fewest so far in 2013, according to the latest statistics. The agency experienced an influx of 52,744 new claims between January and March alone, a 51 percent increase from the same period last year.

The backlog now stands at 30,080 claims, down 18 percent since March and 17 percent since January. Continue reading “April Brings a Reprieve in Federal Retirement Applications”

A Little Extra Under FERS

A Little Extra Under FERS

Almost half of all employees who retire under the Federal Employees Retirement System are entitled to receive the FERS Supplement. The supplement is a temporary boost to the basic retirement benefit designed to take the place of the Social Security tier of FERS when an employee retires at an age younger than 62. Those who retire under the Voluntary Early Retirement Authority option also are entitled to the FERS supplement when they reach the FERS minimum retirement age of 55 to 57, depending on their year of birth.

In 2011, a total of 37,839 employees retired under FERS. Of those, 18,490 were not eligible to receive the supplement, since they were retiring at 62 or later — or on a disability retirement or an immediate or postponed “MRA+10” retirement (a reduced benefit for employees who are old enough to retire, but don’t have the minimum service required for an unreduced benefit). The supplement is payable when you retire at the MRA with 30 years or more of service, or at age 60 with at least 20 years of service. It also is payable to employees who retire under special provisions, such as law enforcement officers and firefighters. Continue reading “A Little Extra Under FERS”

Retirement claims surge in September

Retirement claims surge in September

Mr Doomits/Shutterstock.com

The Office of Personnel Management processed more retirement claims in September than in August, after receiving thousands more applications last month.

OPM completed 12,563 retirement claims in September — the most claims processed in a single month so far this year and 1,063 more than it expected to complete last month. The agency received 11,952 new claims in September, 4,952 more than it anticipated, and 2,979 more than it received in August. The backlog now stands at 41,176 claims, down 33 percent since January. Continue reading “Retirement claims surge in September”