Officials extend VSP, reduce separation pay|
Posted 6/14/2010 Updated 6/14/2010
by Daniel P. Elkins
Air Force Personnel Center Public Affairs Office
6/14/2010 - RANDOLPH AIR FORCE BASE, Texas -- Air Force officials are extending the application period for eligible officers to apply for voluntary separation pay, or VSP, through July 31 but are lowering the multiplier to one and a half times the authorized separation pay effective July 1.
"The window to apply for two times separation pay is rapidly closing," said Col. Joan Garbutt, director of force management policy at the Pentagon. "Unlike the past, we will not increase the multiplier; therefore, we highly encourage RIF-eligible officers to act before June 30 to take advantage of the current rate. For the extended VSP window beginning July 1, the separation pay multiplier will be reduced to one and a half times the separation pay."
Eligible officers include those in the year groups 1998, 1999, 2002, 2003 and 2004 in the grades of major and below with more than six and less than 14 years of commissioned service in the following core Air Force specialties: 13S, 15W, 21A, 17D, 38F, 61B, 61C, 65F and 52R - except for Catholic chaplains.
Officers approved for VSP will receive a lump sum payment. The specific separation pay amount will be calculated by their servicing finance office and be subject to applicable federal and state income taxes upon their date of separation.
Air Force leaders announced eligibility of VSP in March as part of expanded force management measures designed to bring the service closer to its authorized end strength. To date, more than 240 eligible officers have been approved for voluntary separation under the Force Management Program. Applications are being considered in the order they are received by AFPC via the Virtual Military Personnel Flight.
For more information on VSP eligibility and application procedures, visit the AFPC personnel services website or call the Total Force Service Center at (800) 525-0102.