Postal Voluntary Early Retirement Authority:

Define and Describe Voluntary Early Retirement Authority (VERA)

Voluntary Early Retirement offers apply to employees covered under both the Civil Service Retirement System (CSRS) and the Federal Employees Retirement System (FERS). When an agency has received VERA approval from OPM, an employee who meets the general eligibility requirements may be eligible to retire early. The employee must:

1. Meet the minimum age and service requirements -
* At least age 50 with at least 20 years creditable Federal service, OR
* Any age with at least 25 years creditable Federal service;
2. Have served in a position covered by the OPM authorization for the minimum time specified by OPM (usually 30 days prior to the date of the agency request);
3. Serve in a position covered by the agency's VERA plan; and
4. Separate by the close of the early-out period.
[Reference: www.opm.gov]

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