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Voluntary separation incentive pay

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The document is a Voluntary Separation Incentive Pay Agreement that outlines the terms and conditions for Department of Defense employees opting for a buyout. It certifies that the employee understands the irrevocable nature of their application, the repayment obligations if reemployed within five years, and restrictions on future employment with the DoD. The agreement requires signatures from both the employee and a Human Resources representative.

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What is voluntary separation incentive payment?

(e)(1) The annual payment of the incentive shall equal 2.5 percent of the monthly basic pay the member receives on the date appointed, enlisted, or transferred to the reserve component, multiplied by twelve and multiplied again by the members years of service.

What is a voluntary separation incentive payment?

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.

What is military voluntary separation pay?

TO OBTAIN A COPY OF THIS FORM, PLEASE CONTACT THE UNDER SECRETARY OF DEFENSE FOR INTELLIGENCE AND SECURITY (IS). FORM INFORMATION. Form Number: DD 2501. Title: Courier Authorization. Edition Date: 3/31/2023. Authority: DoDM 5200.01, Vol 3.

What is federal buyout?

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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