Breadwinner VERA - Ugh

[Anonymous]

I’m the breadwinner of a two Fed family (I’m gs15 and spouse is gs12). I have option for VERA but spouse does not, and it would be a huge hit to finances.

But we are both worried about being RIF — our agencies are under a lot of scrutiny.

We are unlikely to find realistic post Fed employment, we are in our 50s and have niche skills. We are very worried about health insurance, and taking VERA would lock that in.

[Anonymous]

I am surprised about how many people in their 50’s took VERA with plans to find another job. I say wait and see what happens. I would not take VERA heading into a recession.

[Anonymous]

Anonymous wrote:I am surprised about how many people in their 50’s took VERA with plans to find another job. I say wait and see what happens. I would not take VERA heading into a recession.

I’m not expecting to find another job. We would just spend down 401k. We have about $2M. It would be a much more asture life and kids would likely go to state colleges, but it’s better outcome than having no health insurance and no jobs — we have chronic illness with expensive meds.

[Anonymous]

If you are RIF’d, do you not get the option of the lifetime health insurance? Does that only kick in if you officially retire?

[Anonymous]

Anonymous wrote:If you are RIF’d, do you not get the option of the lifetime health insurance? Does that only kick in if you officially retire?

Yes. If you RIF no VERA no FEHB.

[Anonymous]

If you’re riffed, you get the same benefits as a Vera anyway. Why worry about taking it now?

[Anonymous]

Anonymous wrote:If you are RIF’d, do you not get the option of the lifetime health insurance? Does that only kick in if you officially retire?

I can’t even get it at 62 when my pension kicks in, you have to be on plan 5 years before.

[Anonymous]

Anonymous wrote:If you’re riffed, you get the same benefits as a Vera anyway. Why worry about taking it now?

Our VERA window closes before we will know RIF. They only retire you if you are regular retirement , not VERA I thought?

[Anonymous]

Anonymous wrote:

Anonymous wrote:If you’re riffed, you get the same benefits as a Vera anyway. Why worry about taking it now?

Our VERA window closes before we will know RIF. They only retire you if you are regular retirement , not VERA I thought?

Why have VERA window expire then?

[Anonymous]

If I had 2 million I would take it.

We don't.

[Anonymous]

Eligibility for Vera is the same as discontinued service retirement. Are you eligible for a Vera? You need 20 years if you’re over 50.

[Anonymous]

Anonymous wrote:Eligibility for Vera is the same as discontinued service retirement. Are you eligible for a Vera? You need 20 years if you’re over 50.

Yes 20 years and 50. Is FEHB available too?

[Anonymous]

Based on my quick Google search, seems like fehb is included in dsr, just as in Vera.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If you are RIF’d, do you not get the option of the lifetime health insurance? Does that only kick in if you officially retire?

Yes. If you RIF no VERA no FEHB.

If you are eligible for VERA then the rif just puts you into retirement. You still get the benefits of retirement (pension, insurance). The only advantage of doing the VERA is that it comes (typically) with an incentive like VSIP or Fork 2.0.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Eligibility for Vera is the same as discontinued service retirement. Are you eligible for a Vera? You need 20 years if you’re over 50.

Yes 20 years and 50. Is FEHB available too?

Yes, it is.