Senate bill would let DOD boost buyout amount
The Senate defense funding bill would let the Defense Department raise its maximum buyout limit to $40,000.
- By FederalSoup Staff
- May 23, 2016
The Senate defense funding bill would let the Defense Department raise its maximum buyout limit to $40,000, the Washington Post reports.
Voting on the bill is slated for this week. According to a report on the National Defense Authorization Act released Monday by the Senate Armed Services Committee, a measure in the legislation would boost the maximum for voluntary separation incentive payments, or VSIPs, from its current limit of $25,000.
DOD had recently requested the boost in a budget proposal, noting that the department would offer VSIPs at the rate of around 6,000 annually for the next five years, the bulk of them to Army employees, the article said.