Agencies can begin nominating outstanding leaders for the 2015 Presidential Rank Awards, according to a memorandum from Office of Personnel Management Director Katherine Archuleta.

Read It: The memo

The awards are open to senior career employees and Senior Executive Service members. Nominations are due on March 2.

Administration officials will choose the winners from among the agency-nominated contenders. Winners of the Distinguished Rank Award receive a bonus on 35 percent of their basic pay rate; winners of the Meritorious Rank Award get a 20-percent bonus.

Click here for a complete description of the rules and other information, and nomination templates.

The award winners in 2013 had saved the government more than $94 billion through a variety of initiatives and programs. Click here for details.