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).
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”
- By Tammy Flanagan
- National Institute of Transition Planning
- January 18, 2013
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”
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”