OPM to Grant All Agencies with Early Retirement Authority
Due to forecasted multiple trillion dollar annual deficits and a federal debt of more than 14 trillion dollars, agencies will have to deal with the future reality of budget cuts. With more and more retirement-eligible employees electing to stay employed rather than retire due to the current economic climate, OPM ought to automatcally grant all federal agencies with voluntary early retirement authority (VERA). Since ...more »
Due to forecasted multiple trillion dollar annual deficits and a federal debt of more than 14 trillion dollars, agencies will have to deal with the future reality of budget cuts. With more and more retirement-eligible employees electing to stay employed rather than retire due to the current economic climate, OPM ought to automatcally grant all federal agencies with voluntary early retirement authority (VERA). Since a RIF would most likely affect younger employees with lower salaries, giving older, more costly employees an incentive to leave Federal service early would free up precious salary resources, and still leave agencies with the ability to meet their missions.
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