What is a VERA? Voluntary Early Retirement Authority.
Read more about it at OPM's page: https://www.opm.gov/policy-data-oversight/workforce-restructuring/voluntary-early-retirement-authority/#:~:text=Description,their%20use%20of%20this%20option.
Things to know:
▶️ Agencies are not required to offer VERA -- it is discretionary.
▶️ Agencies must request VERA and RECEIVE OPM APPROVAL to offer voluntary early retirements.
▶️ VERA is only open for a SPECIFIC PERIOD of time.
▶️ Offer of VERA is NOT A RIGHT a right, it's an OPTION.
When offered--
▶️ There are GENERAL ELIGIBILITY REQUIREMENTS related to age, years of creditable Federal service, your position, and the separation date.
▶️ CSRS and FERS annuities DIFFER in when they start and the calculations.
▶️ There are IMPACTS ON BENEFITS related to continuation of coverage for health benefits and life insurance.
▶️ If you have vision, dental, or long-term care insurance, you'll want to check with BeneFeds.gov on continuation of coverage.
▶️ There are non-Federal employment restrictions post-VERA based on the Standards of Conduct (i.e., cooling off, lifetime bans, revolving door) and if you are receiving the FERS supplement.
▶️ There are Federal employment restrictions post-VERA. If you came back to work for the Federal Government later, you would be considered a "reemployed annuitant" with salary offset. NOTE: Reemployed annuitant hiring is uncommon in most job series.
Read more about these topics and the details around them in the OPM Guide to Voluntary Early Retirement Regulations guide at https://www.opm.gov/policy-data-oversight/workforce-restructuring/voluntary-early-retirement-authority/vera_guide.pdf
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DISCLAIMER: This info is provided for personal awareness only and is not legal advice. Please ALWAYS SEEK LEGAL ADVICE FROM AN ATTORNEY versed in Federal Employment Law when faced with decisions or actions impacting your Federal employment status.
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