Applied for a federal job on usa.jobs and several of the questions had to do with employee buyouts. What is that?

That's where the Government buys you out to get the fuck out of your job. It's a $25K buyout which after taxes is around $17K.

t6GGd Wrote:
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> That's where the Government buys you out to get
> the fuck out of your job. It's a $25K buyout
> which after taxes is around $17K.

So Obama gives handouts to get people to quit working?

Not sure about why that would be on an application.

My buy out went like this.

My salary was $128,000, at retirement I would get the full $128,000 for life.

The gov would buy me out for a lump sum of $50,000 and a reduced annual retirement pay of $115,000 for life. So in the long run, if I live long, the gov saves $12,000 a year on my retirement pay.

It makes sense if a person has saved a lot of money like I did and has paid off long term bills/mortgage like a house. I'm perfectly fine living off the $115,000 annual retirement payments.

If really needed I can still go work for some company and get additional money.

Annual Salaries Wrote:
-------------------------------------------------------
> Not sure about why that would be on an
> application.
>
> My buy out went like this.
>
> My salary was $128,000, at retirement I would get
> the full $128,000 for life.
>
> The gov would buy me out for a lump sum of $50,000
> and a reduced annual retirement pay of $115,000
> for life. So in the long run, if I live long, the
> gov saves $12,000 a year on my retirement pay.
>
> It makes sense if a person has saved a lot of
> money like I did and has paid off long term
> bills/mortgage like a house. I'm perfectly fine
> living off the $115,000 annual retirement
> payments.
>
> If really needed I can still go work for some
> company and get additional money.

Imagine the lives all of us posters would lead if anything posted about how much money we make was true.

The maximum buyout is $25k and it is an incentive to retire early because they want younger people in those positions. Only an idiot would take the buyout unless of course you already were going to retire. You have to include that $25k in your income so you get taxed roughly 35% (if you're a clueless libtard).

typical liar Wrote:
-------------------------------------------------------
>
> Imagine the lives all of us posters would lead if
> anything posted about how much money we make was
> true.



I would be in an Asian massage parlor every evening getting the body scrub and table shower.

typical liar Wrote:
-------------------------------------------------------
> Annual Salaries Wrote:
> --------------------------------------------------
> -----
> > Not sure about why that would be on an
> > application.
> >
> > My buy out went like this.
> >
> > My salary was $128,000, at retirement I would
> get
> > the full $128,000 for life.
> >
> > The gov would buy me out for a lump sum of
> $50,000
> > and a reduced annual retirement pay of $115,000
> > for life. So in the long run, if I live long,
> the
> > gov saves $12,000 a year on my retirement pay.
> >
> > It makes sense if a person has saved a lot of
> > money like I did and has paid off long term
> > bills/mortgage like a house. I'm perfectly
> fine
> > living off the $115,000 annual retirement
> > payments.
> >
> > If really needed I can still go work for some
> > company and get additional money.
>
> Imagine the lives all of us posters would lead if
> anything posted about how much money we make was
> true.
>
> The maximum buyout is $25k and it is an incentive
> to retire early because they want younger people
> in those positions. Only an idiot would take the
> buyout unless of course you already were going to
> retire. You have to include that $25k in your
> income so you get taxed roughly 35% (if you're a
> clueless libtard).


Not only that, fed retirements are capped at 80%. Everything over that gets refunded as excess contributions. No way anyone in any position gets 100% salary as an annuity.

The guy was on shrooms or something.

Annual Salaries Wrote:
-------------------------------------------------------
> Not sure about why that would be on an
> application.
>
> My buy out went like this.
>
> My salary was $128,000, at retirement I would get
> the full $128,000 for life.
>
> The gov would buy me out for a lump sum of $50,000
> and a reduced annual retirement pay of $115,000
> for life. So in the long run, if I live long, the
> gov saves $12,000 a year on my retirement pay.
>
> It makes sense if a person has saved a lot of
> money like I did and has paid off long term
> bills/mortgage like a house. I'm perfectly fine
> living off the $115,000 annual retirement
> payments.
>
> If really needed I can still go work for some
> company and get additional money.

You are full of shit.

bGM4J Wrote:
-------------------------------------------------------
> typical liar Wrote:
> --------------------------------------------------
> -----
> > Annual Salaries Wrote:
> >
> --------------------------------------------------
>
> > -----
> > > Not sure about why that would be on an
> > > application.
> > >
> > > My buy out went like this.
> > >
> > > My salary was $128,000, at retirement I would
> > get
> > > the full $128,000 for life.
> > >
> > > The gov would buy me out for a lump sum of
> > $50,000
> > > and a reduced annual retirement pay of
> $115,000
> > > for life. So in the long run, if I live
> long,
> > the
> > > gov saves $12,000 a year on my retirement
> pay.
> > >
> > > It makes sense if a person has saved a lot of
> > > money like I did and has paid off long term
> > > bills/mortgage like a house. I'm perfectly
> > fine
> > > living off the $115,000 annual retirement
> > > payments.
> > >
> > > If really needed I can still go work for some
> > > company and get additional money.
> >
> > Imagine the lives all of us posters would lead
> if
> > anything posted about how much money we make
> was
> > true.
> >
> > The maximum buyout is $25k and it is an
> incentive
> > to retire early because they want younger
> people
> > in those positions. Only an idiot would take
> the
> > buyout unless of course you already were going
> to
> > retire. You have to include that $25k in your
> > income so you get taxed roughly 35% (if you're
> a
> > clueless libtard).
>
>
> Not only that, fed retirements are capped at 80%.
> Everything over that gets refunded as excess
> contributions. No way anyone in any position gets
> 100% salary as an annuity.
>
> The guy was on shrooms or something.

Nope, not all fed retirements are capped at 80%. Depends on your hire date, GS level and branch of gov.

Read up -

There is a special computation for Civil Service Retirement System employees who have performed service abroad after 1986 with the Central Intelligence Agency, Defense Intelligence Agency or National Security Agency that provides a more generous retirement computation.

http://www.govexec.com/pay-benefits/retirement-planning/2013/07/10-things-you-probably-dont-know-about-federal-retirement/66995/

Government employees neeed to be placed in the Social Security system and theis millionnaire's pay for life has got to go. If you save your pay like your supposed to and invest it you will end up with your own retirement fund. No wonder social security is going broke, with 30? of the population sucking off the taxpayers teat for the rest of their retired lives at full salary levels.

Working the System Wrote:
-------------------------------------------------------
> Read up -
>
> There is a special computation for Civil Service
> Retirement System employees who have performed
> service abroad after 1986 with the Central
> Intelligence Agency, Defense Intelligence Agency
> or National Security Agency that provides a more
> generous retirement computation.
>
> http://www.govexec.com/pay-benefits/retirement-pla
> nning/2013/07/10-things-you-probably-dont-know-abo
> ut-federal-retirement/66995/


yes, they are allowed to claim 2%, 1.75% or 1.5% for those years of service, up to 10 years total. This does not get anyone on FERS close to even 80% of their final high 3. The best gig in the federal government is still CSRS with LEO's. They can retire early with 2% for every year and no penalty for early retirement after 50. Plus, LEO's have a special payscale that provides UP TO 25% more money in salary than the regular GS scale. Not far behind the CSRS LEO gig is the special FIRREA agencies payscale (25 - 30% above the regular GS scale), better benefits (e.g. FDIC has a 10% match on 401K contributions and most of these agencies have subsidized health care and free dental/vision and life insurance). So a GS-14 equivalent at one of these agencies can make more than the SecDef.

Bottom line, you can't make more than 80% of your high 3 in federal service except for extremely rare circumstances. The law says "up to 80%" in everything that is published.

jPnN7 Wrote:
-------------------------------------------------------
> Government employees neeed to be placed in the
> Social Security system and theis millionnaire's
> pay for life has got to go. If you save your pay
> like your supposed to and invest it you will end
> up with your own retirement fund. No wonder
> social security is going broke, with 30? of the
> population sucking off the taxpayers teat for the
> rest of their retired lives at full salary levels.

I pay Social Security. Am I the only Federal employee who does so or are you letting your imagination run wild? "Millionaires pay for life"? You'd better put your bottle down.

OP,

They ask because there are rules against reemployment with the federal government if you have received a buyout from the federal government to leave a job in the past. When I worked in the field almost eight years ago, the buyout had to be paid back with interest.

e6Gy9 Wrote:
-------------------------------------------------------
> OP,
>
> They ask because there are rules against
> reemployment with the federal government if you
> have received a buyout from the federal government
> to leave a job in the past. When I worked in the
> field almost eight years ago, the buyout had to be
> paid back with interest.

Yes, but nothing to keep an ex fed employee from drawing the full retirement salary and working for the fed as a "contractor" or an independent business.

So I draw $130,000 retirement money annually and start my own company working for the fed doing contracting.

A VERA (or VSIP?, I get them confused) was offered at my agency a couple of years ago. To be eligible a fed needs to be 50+ with at least 20 years of service or any age with at least 25 years of service. $50k was the buyout offer, but I know it's sometimes $25k too. The buyout money isn't the main motivator...it's a great deal because you get to carry your federal health insurance for life and start the pension (based on years of service and high-3 salary) immediately, instead or waiting until Minimum Retirement Age (55-57 based on age) or later. You can be set for life at 50-something (or as young as 43 if you got hired into the fed at 18, which never happens anymore).

The problem is that your typical fed worker is a brain dead mouthbreather who can't afford to retire. The people who I saw taking the buyout were competent folks who had their shit straight, while the clock-watchers stayed on the fed payroll.
Attachments:

If you tell people here that fed employees are retiring at 50 with full salary, free health insurance and a $50,000 dollar buyout, well then they get pissed off because they don't like to work.

Free Money Wrote:
-------------------------------------------------------
> If you tell people here that fed employees are
> retiring at 50 with full salary, free health
> insurance and a $50,000 dollar buyout, well then
> they get pissed off because they don't like to work.

They're not getting a full salary in retirement. The pension is calculated as normal, so a fed going out early at 50 with a high-3 salary of $100k and 28 years of service is getting a yearly pension of $30k.

Health insurance isn't free either...they have to keep paying the employee portion of the monthly premium for life.

Working the System Wrote:
-------------------------------------------------------
> Read up -
>
> There is a special computation for Civil Service
> Retirement System employees who have performed
> service abroad after 1986 with the Central
> Intelligence Agency, Defense Intelligence Agency
> or National Security Agency that provides a more
> generous retirement computation.
>
> http://www.govexec.com/pay-benefits/retirement-pla
> nning/2013/07/10-things-you-probably-dont-know-abo
> ut-federal-retirement/66995/

CIA is actually capped at 70%, not 80%. The percentages are higher and the annuity accrues faster as a result, but you don't get a higher annuity. Qualified overseas service gets the 2% but everything is still capped. CSRS people max out at around 42 years of service, CIA at 35.

No one is getting a Fed annuity that is 100% of their final or high 3 salary.

when you are talking $150,000 /yr paychecks there is going to be gov. worker corruption

some of the corruption is attempted to be hidden in HOME SALES in fairfax, where the person leaving is getting "a good price for their home" and the person entering having paid it - is getting a fed. job

it's very illegal but also hard to catch up with, since the "watchers" are often those who are in on it