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2015 early out programs drop
Marine Corps announces details of the VSP and TERA programsThe service has released details of its highly anticipated voluntary force-shaping measures for fiscal 2015, which will offer thousands of staff noncommissioned officers a lump-sum payment to leave uniform or an early retirement.
Those programs include Voluntary Separation Pay and the Temporary Early Retirement Authority program, both authorized for next year and detailed in Marine administrative messages 250/14 and 251/14, respectively.
Many of the eligibility requirements for both incentives are the same, except for the years of service requirements. TERA and VSP will be offered to active-duty staff sergeants, gunnery sergeants and master sergeants, with the exception of those in 69 MOSs. All first sergeants are eligible, regardless of MOS. Additionally, any staff sergeant, gunny or master sergeant who has failed selection to the next highest grade at least once is eligible.
In the case of TERA, Marines must also have served at least 15 years to receive the early retirement pension, paid at a reduced rate based on rank and time in service. For VSP, Marines must have served just six or more years. While Marine eligible for TERA are likely eligible for VSP, they are advised to opt for TERA. Although VSP payments can push six figures, they are a one-time payout; the TERA payout will likely be substantially larger over the course of a lifetime...Those who apply and are approved for TERA or VSP, must agree to leave the service no later than Aug. 31, 2015...
Those programs include Voluntary Separation Pay and the Temporary Early Retirement Authority program, both authorized for next year and detailed in Marine administrative messages 250/14 and 251/14, respectively.
Many of the eligibility requirements for both incentives are the same, except for the years of service requirements. TERA and VSP will be offered to active-duty staff sergeants, gunnery sergeants and master sergeants, with the exception of those in 69 MOSs. All first sergeants are eligible, regardless of MOS. Additionally, any staff sergeant, gunny or master sergeant who has failed selection to the next highest grade at least once is eligible.
In the case of TERA, Marines must also have served at least 15 years to receive the early retirement pension, paid at a reduced rate based on rank and time in service. For VSP, Marines must have served just six or more years. While Marine eligible for TERA are likely eligible for VSP, they are advised to opt for TERA. Although VSP payments can push six figures, they are a one-time payout; the TERA payout will likely be substantially larger over the course of a lifetime...Those who apply and are approved for TERA or VSP, must agree to leave the service no later than Aug. 31, 2015...