SEC Offers Eligible Employees $50,000 to Retire or Quit by April 4

The SEC is offering eligible employees a $50,000 incentive to resign or retire by April 4, according to a Bloomberg report. The regulator sent an email to employees on Friday detailing the incentive.

JUST IN: SEC offers eligible employees $50,000 incentive to resign or retire by April 4.

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The offer is a voluntary separation incentive or voluntary early retirement program, according to the email. The deadline to apply is March 21. SEC Chief Operating Officer Ken Johnson shared the email with all staff as the Trump administration seeks to slim the size of the federal government and fire thousands of workers.

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According to the email, eligible employees must have been on the agency’s payroll before January 24. They must voluntarily leave through resignation, transfer to another agency, or immediate retirement. If they accept a voluntary separation agreement and return to the SEC within five years, they must pay back the incentive in full.

The SEC has yet to publicly comment on the email and proposed cuts.