USPS Offering Special Voluntary Early Retirement

USPS Offering Special Voluntary Early Retirement ,verUpdated 12.12.14

USPS Offering Special Voluntary Early Retirement

Postal Employees in the targeted offices started receiving their Voluntary Early Retirement (VER) offers on November 28,2014.  The letter enclosed stated NO INCENTIVE. The Irrevocability date is January 9, 2015. The effective retirement date is  January 31, 2015. The VER was offered to postal employees who work at the POST OFFICES listed below in the Western Area and not USPS PLANTS scheduled for closure/consolidation beginning in January 2015.

(November 28, 2014)  USPS Voluntary Early  Retirement (VER) offer.  There is no incentive.

Here is the message sent out:

As a matter of general interest, HRSSC is sending special Voluntary Early Retirement (VER) opportunity letters to eligible employees in the facilities listed below. In addition, eligible employees within 50 miles of these locations will also be sent a VER letter. This VER is limited to APWU Maintenance & Clerk Craft. There is no additional monetary incentive with this VER and employees are expected to get their letters on or about Friday November 28, 2014.

HRSSC has indicated that individual annuity estimates will be sent to VER eligible employees next week. This VER is intended to allow employees an opportunity to retire if they so desire. The VER locations were selected based on sites that are currently overstaffed.

 The Postal Service has requested and been authorized a special site specific Voluntary Early Retirement (VER) for our location, and those offices within 50 miles.

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 The VER is for career employees represented by APWU at certain locations. There is no additional incentive.

 To be eligible for the early retirement, you’ll need to meet these requirements:

    • At least 50 years of age with at least 20 years of service, or any age with at least 25 years of service, and
    • At least five years MUST be creditable civilian service, not military service. Employees may use military service to meet the balance of service required for eligibility.

The most important thing is to make sure that your current address is on file. If eligible, USPS will use that to send you an Annuity Estimate Letter and a Retirement Kit in the mail and you can weigh your choices.

Details of VER guidelines and Frequently Asked Questions, are posted on the Workforce Connectionwebsite on LiteBlue. You may also find information on the Blue Page  at this link: VER

You’ll be informed of all the other details in the days ahead, but I wanted you hear the news from me first.

59 thoughts on “USPS Offering Special Voluntary Early Retirement

  1. If y’all are not financially in good shape after taking wages from the PO or more you will be there forever.
    How much is a year, 2 years, 5 years of your life worth? I was 1 year short of 20 at age 44 in ’92 ~~ totally pissed I could not take the EO then and had to wait until ’03 to be 55.

  2. I took the last early out with the incentive. I have never looked back even though it was tighter $$. I have enjoyed my time, my life, my family without the daily grind of the PO. I can only offer my humble opinion, but anyone who can get out should grab with both hands and leave. I have never regretted for one minute my decision. There were other workers who I have talked with that regret not taking the last early out. Life is more than the PO.
    Take care fellow workers.

  3. Does anyone know if they are talking about an early out for city carriers if they can get enough CCAs hired? I have heard talk in the past and now again …That would sure be nice!!!

  4. There will be at least one person taking this offer and that would be me.

    I never thought I would retire early or even at my MRA, but recently have had a number of medical problems come up. It’s not impossible for me to do my job, but it’s difficult to manage my job without ignoring my health.

    Money will be tighter than I would like, but it will be worth it to be able to live and sleep a normal schedule and concentrate on my health. I want to be able to see my grandchildren grow up.

    I feel very lucky to work in one of the eligible offices… even without a cash incentive.

  5. Plants are closing. Taking a VERA, even with no incentive, allows people under MRA to begin collecting the FERS pension immediately instead of waiting, It allows FERS people 56+ to collect the SS Supplement for six years. To someone facing excessing and having a long commute, it might be reason to take the offer.

    Everybody loves to call the USPS stupid for offering a no incentive VERA, but how many of you make you last/best offer your first offer? It makes sense to offer a no incentive VERA because you might get some takers. THEN, down the road, you can re-evaluate and decide if you need to sweeten the pot.

    Not interested in a no incentive buyout? Then stay on the rolls. The USPS doesn’t care if you get excessed. The USPS doesn’t care if you spend 3 hrs a day commuting to work. The USPS doesn’t care if you spend several $$ a month on gas.

    I am always very critical and suspicious of management’s actions, but this decision to offer no incentive actually makes sense from a business standpoint.

    • You absolutely can NOT collect FERS supplement before MRA even if you take a VERA. Also, if you take a VERA before MRA, you are PENALIZED for every year short of your MRA. 1% for FERS, 2% before CSRS. Please get your information straight before making posts of this nature.

      • don’t quote me but I belive if you meet the minimum requirements of 25 yrs at any age or over 50 years old with at least 20 years then the penalty is waived under rules for a VERA!

        • joey– you do NOT receive a social security supp.–you get the sup from the office of personal management paid for by the usps. took the last earl out and that is what happens.

    • I never said you could collect a FERS supplement if you are under MRA. I said you can collect a Social Security supplement, if you are between MRA and 62.

      Also – A FERS eligible employee, who has not reached MRA, is entitled to collect their FERS pension annuity under a VERA if they meet the criteria (20/50, 25/any age).

      Finally, there is no penalty for FERS employees (without a CSRS component) who retire under a VERA.

      Do your homework!!

      • The FERS supplement IS the SS supplement for FERS employees who retire at MRA if that happens to be less than 62 years-of-age, which it will be for me. You absolutely can NOT collect the FERS supplement (the ONLY SS supplement for FERS employees) before your MRA, PERIOD.

        Never said anything about the actual pension, which is the whole point of a VERA in the first place. Of course you immediately collect.

        Finally, ANY FERS EMPLOYEE WHO TAKES A VERA WILL LOSE 1% OF THEIR RETIREMENT FOR EVERY YEAR THEY ARE UNDER THEIR MRA!!! There has not been a SINGLE USPS VERA offer where this has not been the case.

        I’m a 20+ year current employee and my homework is done. Please stop posting misinformation.

        http://www.plan-your-federal-retirement.com/fers-supplement.html

    • Please remember people, those of you under FERS who are planning on getting the supplement, you will NOT be getting it for SIX MONTHS!!! So you will need a job or some kind of monetary backup to live for a while. Take it from me, I am retiring end of the year and just found that out. You live on approximately 80% of your pension only until OPM catches up. For most of us, that’s $1,000.

  6. Hey Lu, The websites that copied your info on the ver must think you have a credible source (although you didn’t disclose it). That’s a complement to you. LOL

    • My local president told me about this last week. I got my package Saturday. This really won’t help me. I qualify but turn 56 in March when I can receive the FERS supplement. I will wait till they offer something better or kick me out the door.

  7. I went with no incentive at age 55 with 38 years service in March 2003. How much is a year or more of your life worth? Granted my CSRC pension was over $58K and has gone up nicely,, but it is all relative.

  8. Why does Donahopeless and the boobs at headquarters bother with this as they also had a no incentive VER for supervisors,knowing there will be very few takers! they had better be preparing to place the people from closing facilities into landing spots,and what about the supervisors and management from these facilities? cuts in their numbers have been overdue for years!

  9. To my union reps. Your so busy filing grievances on people working 9 units of overtime when they weren’t authorized that you’ve forgotten about the union members that have been members for 30 plus years. WHERE ARE YOU IN THIS PROCESS. Lets go back 20 years and get some reps. that had some balls.

        • That reminds me I got to hit the whoevers in charge with a 3971 or I’ll lose it soon, that time of the yr again, it goes by so fast don’t it?

          They should raise it to 540 AL carrier over…yes?

          And OMG all that SL! I’m using mine. I want 100% worth.

  10. I’ll go with no incentive. I’m 51 with 27.5 years service. I want out and willing to do it with no incentive whatsoever. Make this available for EVERYONE EVERYWHERE and you can get rid of me tomorrow.

    • That’s all well and good for you if you can afford to live on peanuts ,which is what your annuity will be under FERS, but very few people under FERS can go and the remaining CSRS people won’t go without an incentive.

  11. Industry PDC……nothing for you. Now, get the hell back to work! Don’t forget dem dues bruthas n sistas! Your local union did one hell of a job selling you down the river while they stayed in their offices watching porn on the computers and having pizza parties while they worked hard for you!

  12. Does anyone know what an annuity payment for a person who has 25 years of service could be per month? The other thing is that not offering some incentive (cash wise) would not get anyone to budge…that makes no sense when they just offered Postmasters $10K.

    • If you want what management gets, then….get your union to negotiate for it otherwise GET THE HELL BACK TO WORK and keep paying dem dues!

    • The formula is 1% x (average of the “high three” salary) x years of service. So, if you made an average of $55,000 in the last three years: 1% x $55,000 = 550. 550 x 25 (years of service) = 13750. 13750 divided by 12 (months) = $1145.83 a month. If you have reached your minimum retirement age of 55-57, you also get a Fers annuity supplement which is roughly 75% of what your future Social Security payment is. This is paid until you reach age 62 & qualify for Social Security.

      • Have to have at least thirty years of service, AND have reached your mra too.
        Otherwise, can’t use it until you’re at least sixty, with twenty years of service.

        • Also, the supplement isn’t roughly 75% automatically, but generally is.

          Formula is: 40 divided by years of service, times age 62 ssi payment amount.

          I.e., someone with 30 years of service, it would be 30/40 x age 62 ssi payment estimate.

    • Why would I want to get what PM’s received?! My PM gets a salary of $152,202. $10,000 = 6%. For most clerks that would equate to about $3300! I suspect USPS feels that CSRS personnel will retire anyway within the next three years (30 years since FERS inception). However, that math has flaws. An employee joining in 1986 at age 17 won’t be 55 until 2024, with 38 years service. It would be 2028 before they hit the max annuity. There may be another buy-out in two or three years if the PO hasn’t been privatized by then. If any Union officers read this, I would like to have any incentive offered added to my TSP.

  13. Verizon buy out…… workers 50 and older(average base pay of wnion tech $92,000)-$100,000 dollars in one lump sum, paid health care to age 65 (medicare eligible) credit pension so every one goes out as if they worked till 62( half pay pension), keep full employee discount on phone/cable………a great big thank you from the CEO and Board of Directors for the workers loyal years of service(framed letter with 100K buy out check)………not bad and workers who took the payroll discount deduction for company stock can now sell it at market rate of $52.00 or keep it as dividends are worth 5% yearly…….all and all wished I worked there. but the PO gave you security lol…..you paid for that in substandard wages.

    • forgot one thing, deduct for taxes, and there will NEVER be a COLA
      100K is not a good deal Mr. Know too much.

      • they don’t need COLA they paid into social security AND get a pension……mr know nothing. their verizon stocks pays 5% in dividends, unless they spent every penny they earned and maxed out credit cards and are in debt up to their eyeballs like you. get back to work slug.

  14. this is how Verizon Telephone a private company did it…….workers over 50….$100,000 dollar buy out, health fully paid to 65 when they get medicare, all workers from 50 up get credit on pensions as if they retired at 62, keep their employee discount on phone/cable………….now compare that to the a@@holes who run the PO into the dirt. do not leave until they pay up!

  15. we have old farts in their late 70’s and 80’s in manual case section that say they will leave “next year”, been saying that for the last 20………its like a nursing home in that section. buy out who needs a buy out. by the way its not a buy out if there is no money…….move along there is nothing to see here.

    • You can’t force somebody out who doesn’t want to retire. I wouldn’t like younger carriers trying to force me out. I have about 25 months to go before I can get full benefits and I’ll go that very second because I’m tired – of the physical labor, managerial stupidity, and the stress. I want to spend time with my wife and travel while we both can. She’s disabled and won’t be able to get out a lot the older we get and because I will be eligible at 56 we’ll have that opportunity to see the country and hopefully have a few bucks left over to make a few overseas trips, maybe to Australia and Europe, which would be a gas.
      It sure sounds like the USPS is closing those plants regardless of what anybody thinks, including customers and Congress, and that’s a shame. It’s also a harbinger of what to expect from Brennan. She could be worse than Donahoe and sure looks a lot meaner.

    • Probably slightly more than Diamonstein will get even though Diamonstein will also get that APWU Officer only retirement that is paid for with dues money that you can’t get. Now….GET THE HELL BACK TO WORK!

    • I’ll bet at least half a million. He’ll be on the hot seat though if the NLRB and Congress don’t puss out and barbeque his ass and the security officer for letting that cyber attack take place and not tell anybody about it for 11 months. But the big boys get away with murder – we all know that.

      • @bernadette, you can retire anytime. No incentive. So you are waiting for what exactly ? SO you thought you had to work all these last years only to ask permission to retire, is this what you are saying ???

      • Yes, she can leave whenever she wants to but she can’t retire whenever she pleases. In order to receive anything, she must be a certain age or civil service. So there is an incentive for those of us who wish to leave and haven’t reached the minimum age requirements yet. You won’t get 3 or 4K a month but 1K is a lot better than getting nothing because you chose to stay and work an extra six months. We have people in their seventies still working at our plant that are civil service. If they can’t afford to leave by now, they’ll never be able to afford it.

    • Does anyone know if they are planning to offer an early out or VERA to the city carriers? A few years back I had heard they were going to… then recently I had heard that again ..once they get more CCAs hired.. That would be really nice…

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