Step 4 Agreement: Early Retirement Severance Pay (2007)

The parties agreed that before implementation of reassignment under Article 6, or if necessary, layoff and reduction in force of excess employees within an installation, employees in the same craft within an installation who elect to terminate their employment are entitled to receive a lump sum severance payment in the amount provided in ELM 435 as well as, if eligible, early retirement benefits in accordance with Section 8336(d) (2) of Title 5, U.S.C.