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According to a report in this week's , the Department of Housing and Urban Development and NASA will be authorized to offer a new round of employee buyouts under a bill expected to pass the Senate. The agencies will be able to offer up to $25,000 to entice federal employees into retirement.
September 10, 1996
THE DAILY FED
Buyouts: The Next Round
Federal TimesNASA's request for $50,000 buyouts was rejected by the Senate.
Under the legislation, NASA and HUD will be required to pay 15 percent of employees' basic pay into the Civil Service Retirement and Disability Fund, up from 9 percent during the last government buyout program.
The Agriculture Department and Agency for International Development have also been authorized to offer buyouts. Still pending are buyout recommendations for the IRS, the U.S. Customs Service, and the Bureau of Alcohol, Tobacco and Firearms.
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