PUBLIC LAW 104-208—SEPT. 30, 1996 110 STAT. 3009-274
(2) AMOUNT AND TREATMENT OF PAYMENTS. —A voluntary
separation incentive payment—
(A) shall be paid in a lump sum after the employee's
separation;
(B) shall be paid from appropriations or funds available
for the payment of the basic pay of the employees;
(C) shall be equal to the lesser of—
(i) an amount equal to the amount the employee
would be entitled to receive under section 5595(c) of
title 5, United States Code; or
(ii) an amount determined by the agency head
not to exceed $25,000;
(D) may not be made except in the case of any qualify-
ing employee who voluntarily separates (whether by retirement or resignation) before September 30, 1997;
(E) shall not be a basis for payment, and shall not
be included in the computation, of any other type of Government benefit; and
(F) shall not be taken into account in determining
the amount of any severance pay to which the employee
may be entitled under section 5595 of title 5, United States
Code, based on any other separation.
(d) ADDITIONAL AGENCY CONTRIBUTIONS TO THE RETIREMENT
FUND. —
(1) IN GENERAL.—In addition to any other payments which
it is required to make under subchapter III of chapter 83
of title 5, United States Code, an agency shall remit to the
Office of Personnel Management for deposit in the Treasury
of the United States to the credit of the Civil Service Retirement
and Disability Fund an amount equal to 15 percent of the
final basic pay of each employee of the agency who is covered
under subchapter III of chapter 83 or chapter 84 of title 5,
United States Code, to whom a voluntary separation incentive
has been paid under this section.
2) DEFINITION. —For the purpose of paragraph (1), the term
"final basic pay", with respect to an employee, means the total
amount of basic pay which would be payable for a year of
service by such employee, computed using the employee's final
rate of basic pay, and, if last serving on other than a fulltime basis, with appropriate adjustment therefor.
e) EFFECT OF SUBSEQUENT EMPLOYMENT WITH THE GOVERN-
MENT.— An individual who has received a voluntary separation
incentive payment under this section and accepts any employment
for compensation with the Government of the United States, or
who works for any agency of the United States Government through
a personal services contract, within 5 years after the date of the
separation on which the payment is based shall be required to
pay, prior to the individual's first day of employment, the entire
amount of the incentive payment to the agency that paid the
incentive payment.
if) REDUCTION OF AGENCY EMPLOYMENT LEVELS. —
(1) IN GENERAL.—The total number of funded employee
positions in the agency shall be reduced by one position for
each vacancy created by the separation of any employee who
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