From the National Association of Postmasters of the United States (NAPUS) Today, President Obama unveiled his Fiscal Year 2015 Budget and it includes a number of proposals that relate to the Postal Service. Refund the Postal Service the projected Federal Employees Retirement System overpayment of $5 billion, over a 2-year period Recalculate the USPS retiree […]
WASHINGTON, D.C. – Today, U.S. Senators Richard Burr (R-NC), Tom Coburn (R-OK), and Saxby Chambliss (R-GA) reintroduced the Public-Private Employee Retirement Parity Act to address long-term liabilities facing the federal government. The legislation would end the defined benefit pension portion of the Federal Employee Retirement System (FERS) for new federal government hires starting six months […]
For CSRS & FERS retirees: 2014 retiree COLAs—1.5% for FERS & CSRS: The cost-of-living adjustments (COLAs) for both Civil Service Retirement System (CSRS) and Federal Employee Retirement System (FERS) benefits will be 1.5 percent in 2014, based on the Oct. 30 release of the Consumer Price Index (CPI) for September. Although the release of the […]
October 4, 2013) As a result of the ongoing government shutdown, please make note of the below captioned list of government managed benefits and their possible impact on Mail Handlers. We will continue to monitor the impact of this action on federal agencies. If the shutdown is prolonged, additional information will be compiled, updated, and […]
OIG Report: Using U.S. Postal Service-Specific Assumptions for Calculating the Federal Employees Retirement System Liability This report presents the results of our self-initiated review of Using U.S. Postal Service-Specific Assumptions for Calculating the Federal Employees Retirement System (FERS) Liability (Project Number 13BG015FT000). Our objective was to review the assumptions used for the Postal Service’s FERS […]
There is another typo in the OIG’s solicitation: “This change would not impact existing retirement systems for current employees.” It should say “This change would not impact existing retirement systems for current CAREER employees.” Up to 20 per cent of the workforce is non-career and not in a retirement system. They would be affected when […]
The U.S. Postal Service Office of Inspector General intends to award a firm-fixed price contract to a Supplier who possesses specific subject matter expertise in the area of retirement benefits. The purpose of this contract is to compare the U.S. Postal Service’s retirement benefits program to retirement benefits programs offered by major private sector companies.
Effective April 4, 2013, the Postal Service™ is revising the Employee and Labor Relations Manual (ELM). The Postal Service provides annuity estimates for eligible Civil Service Retirement System (CSRS) and Federal Employee Retirement System (FERS) employees through four different sources:
Republican Senators Richard Burr, (R-NC) and Tom Coburn (R-Oklahoma), on Thursday introduced a bill (S. 644) that would eliminate the pension portion of the Federal Employees Retirement System (FERS) for all new federal employees hired after 2012. The legislation would not affect Thrift Savings Plan benefits and agency-matching contributions. It also will not affect FERS […]
The White House released the 2012 budget today. In the budget it proposes to reimburse USPS for $6.9 billion in overcharges for FERS retirees. But the repayment is spread over 30 years, including $550 million in 2011. Here is the summary from the White House 2012 Budget outlining provisions for USPS: The Administration recognizes the enormous […]