I know people who get both ISP and ERP. They received the combined benefits.
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I was hit in last years ISP. I was retirement eligible and got ERP. All retirement benefits, COBRA and pro-rated EB for 2015... even paid me for sabbatical I was eligible for in 2016. They legally must give you all retirement benefits if you are eligible. Sucked to go out that way but the package was very good. I'm sure they were just covering their butts against lawsuits.
Unless they changed the rules, they cannot take away earned benefits. I had a friend that got hit by last year's ISP. She was eligible to retire under the Rule of 75 so she got those benefits. Well, at least she got the retirement party, I didn't ask about the rest. I do not believe they can take that away from you. Just don't do anything stupid that can be construed as malicious (like change PWs to FUCXINTEL for instance like some people are planning on doing).
The question is if they would let you take a regular retirement under the rule of 75 this year if you are offered ISP
Last year, If you eligible for ERP (or less than 30 days away), they gave it you the ERP package instead of ISP, but it was obviously not optional.
I think the real question being asked here is whether or not you will get all of your retirement benefits under the rule of whatever if you get an ISP.
You don't get to choose what you want. Unless you get VSP and erp.
ISP if given does not qualify you for erp or VSP. Good luck