VOLUNTARY SEPARATION INCENTIVE PAYMENTS (BUYOUTS)

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VOLUNTARY SEPARATION INCENTIVE PAYMENTS (BUYOUTS)

• -- On May 13, 2004, the Office of Personnel
  Management approved HUDs request to offer
  buyouts to assist the Department in completing
  its FY 2004 CAP and assist in achieving staffing
  reductions necessary for four over-ceiling
  offices.
• -- Up to 200 buyouts may be offered. Number of
  buyouts to be initially offered is 115 in the
  following over-ceiling offices
• 37 - Community Planning and Development (CPD)
• 6 - Departmental Organization and Coordination
  (ODOC)
• 70 - Fair Housing and Equal Opportunity (FHEO)
• 2 - Healthy Homes and Lead Hazard Control
• -- Assistant Secretary Roy Bernardi will be
  updating employees in a broadcast today (May 14,
  2004) at 200 p.m. Eastern Daylight time.
• A follow-up email will be sent to all employees
  after the broadcast.
• -- A specific notice announcing the buyout
  window and application process will be sent via
  email to all employees in the four over-ceiling
  offices no later than Monday, May 17, 2004. 1

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VOLUNTARY SEPARATION INCENTIVE PAYMENTS (BUYOUTS)

• -- Buyout window
• Opens 200 p.m., Eastern Daylight time (1100
  a.m. on West Coast), on Wednesday, May 19, 2004
• Closes 500 p.m., Eastern Daylight time (200
  p.m. on West Coast), on Friday, May 28, 2004
• -- Applications will be approved on a
  first-come, first-served basis per position
  title and location.
• -- Eligible Employees are those who
• occupy positions targeted for buyout in CPD,
  FHEO, ODOC or HHLHC
• have been continuously employed with HUD for at
  least 3 continuous years without a break in
  service
• voluntarily retire under early or optional
  retirement, or voluntarily resigns during the
  approved buyout period
• apply for a buyout within the buyout window in
  accordance with the application procedures and
• Agree to separate from the Department on or
  before July 24, 2004.
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VOLUNTARY SEPARATION INCENTIVE PAYMENTS (BUYOUTS)

• -- Ineligible Employees
• Presidential appointees
• Career and non-career Senior Executive Service
  appointees
• Schedule C employees
• Employees occupying positions that have been
  excluded from the buyout
• Employees on time-limited appointments
• Employees who, during the previous 24 months,
  received a recruitment or relocation bonus, or
  within 12 months of the separation date received
  a retention allowance
• Employees relocated to other positions/offices
  (under HUDs relocation program) where relocation
  costs were incurred and the buyout offer falls
  within one year of the effective date of the
  relocation. Exceptions can be granted if
  employee reimburses HUD for all relocation costs
• Employees in receipt of a specific notice of
  involuntary separation for misconduct or
  unacceptable performance
• Employees who previously received any buyout
  payment by the Federal Government
• Reemployed annuitants
• Employees who are or would be eligible for
  disability retirement
• Employees with statutory reemployment rights or
  transfer to another organization
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VOLUNTARY SEPARATION INCENTIVE PAYMENTS (BUYOUTS)

• -- An employee may retire or resign to take a
  buyout.
• -- Employees who submit an application for a
  buyout based upon optional retirement or a
  voluntary early retirement must be eligible for
  retirement by July 24, 2004.
• -- A buyout payment is an amount equal to the
  employees calculated severance pay entitlement
  or 25,000, whichever is less.
• -- Benefits counseling will be available for
  employees.
• -- All applications will be accepted by fax only.
  No hand deliveries.
• -- No electronic applications will be accepted.
• -- Employees approved for a buyout may separate
  at anytime between the date of notice of approval
  through July 24, 2004.
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