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VOLUNTARY SEPARATION INCENTIVE PAY AGREEMENT LUMP SUM PAYMENT PRIVACY ACT STATEMENT AUTHORITY: 5 U.S.C. 9902(i), DoDD 1400.25, DoD 1400.25M, Subchapter 1702, "Voluntary Separation Programs ".

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A Voluntary Separation Incentive Payment (VSIP), also referred to as a buy-out, is a lump-sum payment made to eligible employees who separate through resignation, optional retirement, or early retirement.

A buyout taker must repay the entire (pre-tax) amount of the incentive to the agency which paid the buyout if the employee accepts employment with the government of the United States or under a personal services contract within five years of separating with the incentive.

The Voluntary Separation Incentive Payment Authority, also known as buyout authority, allows agencies that are downsizing or restructuring to offer employees lump-sum payments up to $25,000 as an incentive to voluntarily separate.

If you're going to leave a company voluntarily, the package should be good. This means it provides enough money to live comfortably for however long it takes to find your next job. Evaluate the buyout's dollar value, and how often you receive that pay. Some buyouts pay employees a lump sum.

Voluntary termination occurs when an employee makes the decision to leave a job or end a contract early. Voluntary termination is different from being fired, laid off, or downsized, as the decision is made by the employee, not the employer.

(1) Only U.S. citizen employees and non-appropriated fund employees are eligible for VSIPs. (2) Employees must be serving under an appointment without time limitations. (3) Employees must have been employed by DoD for a continuous period of at least 12 months immediately preceding the effective date of separation.

Payments are calculated by multiplying final monthly Basic Pay by 12, then by years active duty service, and multiplied again by . 025. Payments are made over a period of time that is equal to twice the number of your years of service.

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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232