Section 1
An employee who has been employed for a continuous period of at least twelve (12) months and who is involuntarily separated from employment for reasons other than misconduct, delinquency, or inefficiency and who is not eligible for an immediate annuity shall receive severance pay.
Section 2
Severance pay consists of:
a. a basic severance allowance computed on the basis of one (1) week's Base Pay at the rate received immediately before separation for each year of civilian service up to and including ten (10) years for which severance pay has not been received under this or any other authority; two (2) weeks' Base Pay at that rate for each year of civilian service beyond ten (10) years for which severance pay has not been received under this or any other authority; and twenty-five percent (25%) of the otherwise applicable amount for each full three (3) months of creditable service beyond the final full year; and
b. the basic severance pay allowance is augmented by an age adjustment allowance consisting of two and one-half percent (2.5%) of the basic severance pay allowance for each full three (3) months of age over forty (40) years.
Total severance pay under this Section may not exceed one (1) year's pay at the rate received immediately before separation.
If the employee dies before the end of the period covered by payments of severance pay, the payments of severance pay with respect to the employee shall be continued as if the employee were living and shall be paid on a pay period basis to the survivor of the employee.
Section 3
Upon separation, the Agency shall pay the employee severance pay at biweekly intervals in an amount equal to his/her base salary. Employees who are eligible for severance payments will be offered the opportunity to elect payment in one (1) or two (2) lump sum payments, rather than on the biweekly basis.
Section 4
If an employee paid severance pay in a lump sum under this Article is reemployed by the Government of the United States or the Government of the District of Columbia, at such time that, had the employee been paid severance pay in regular pay periods, the payments of such pay would have been discontinued upon such reemployment, the employee shall repay to the Agency an amount equal to the amount of severance pay to which the employee was entitled under this Article that would not have been paid to the employee by reason of such reemployment.