The Office of Personnel Management has released a severance pay estimation worksheet that helps federal employees who are involuntarily separated from federal service calculate how much money they are owed.
According to OPM, the basic severance pay allowance consists of:
- One week of pay at the rate of basic pay for the position held by the employee at the time of separation for each full year of creditable service through 10 years;
- Two weeks of pay at the rate of basic pay for the position held by the employee at the time of separation for each full year of creditable service beyond 10 years; and
- Twenty-five percent of the otherwise applicable amount for each full 3 months of creditable service beyond the final full year.
The worksheet consists of ten steps used in the calculation process to walk employees through figuring out their estimated pay.
OPM also has provided a fact sheet on severance pay that details eligibility for receiving severance pay.
