Critics of federal buyout programs call them costly "golden handshakes" that eliminate employees who would have retired anyway.

But the Federal Deposit Insurance Corp. claims its buyout program has been cost effective, helping the agency trim its rolls despite the challenge of absorbing employees from the now-defunct Resolution Trust Corp.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.