In the past, VSIPs were not to exceed $25,000 or an amount equal to the severance pay the employee would be entitled to receive. The last time I went through a reorganization in the late 1990s, the cap was $25,000. You would think that with inflation, the amount would be much higher today.
1 Like
Acronyms… I have been a Federal Contractor since 1985 and I do not know what your acronyms mean. Can you help me out?
Sure, VERA is Voluntary Early Retirement Authority and the VSIP is a Voluntary Separation Incentive Payment. I’ll use the full title with the acronyms in future posts. OPM is the Office of Personnel Management. Let me know if you need any further clarifications.
Yes. HHS staff were offered exactly this if off the payroll by May 9th. Took it and haven’t looked back.
Thanks for the feedback, I was hoping they would have adjusted the VSIP up substantially to compensate for inflation. I’m glad you were able to take advantage of the offer. I can honestly say that when one door closes another opens if you make it happen. My best to you and yours.
1 Like