Definition

A monetary award is a one-time cash payment, which is in addition to the regular salary of the recipient and which does not increase  the individual's rate of basic pay.

General

Monetary awards may be granted:

for an outstanding one-time accomplishment or contribution of a non-recurring nature that produces tangible savings or intangible benefits, or

• for sustained exceptional performance.

By accepting a monetary award, the employee relinquishes ownership of the idea, method, or device to the Government and therefore, cannot claim ownership or future award payments for the same idea, method or device for which the award was paid

When an activity approves an award for an employee of another component or agency, the amount of the award is transferred to the  individual's organization for payment through his/her payroll office.

Bureau heads are authorized to approve awards up to $10,000 for a single employee or a group of employees. For awards between $10,001-$25,000, OPM must approve such awards.

All monetary awards must be reported in accordance with OPM regulations.