Last month PMG Patrick Donahoe mentioned that early out retirements and RIFs were coming by March 2011. The following is unverified information floating around the internet:
from a NAPS AVP:
OPM approved United States Postal Service VERA and Retirement Processing for 80,000 eligible Civil Service and Federal Employee Retirement Service employees. With roll out of Area EAS 8% staff reductions and later District EAS 8% staff reductions, VERA will be available for applying on or after March 2011. Effective drop date of VERA is July 2011, August 2011, September 2011, and October 2011. The drop month is determined by your work location and reduction in force notification. VERA will be available for PCES, EAS and Craft employees in “targeted” areas. No “buy out” authorized for USPS.
– Third round of Station, Branch, Finance Station closures due out in FY 2011.
– First announcement of Associate Post Office closures due out in FY 2011.
– First announcement of Processing and Distribution Center closures due out in FY 2011.
– Four Districts will be consolidated in FY 2011.
– Congressional opposition is expected due to loss of local tax base; contract jobs (many in maintenance), and local constituents.
via Federal Soup
In case many ,or perhap’s, “ALL” of you have forgotten or weren’t aware the fact…that the p.o. doesn’t pay your annuity after your retirement, it is the O.P.M. that does that, they also decide whether or not the p.o. can even offer an early out. That is why the c.s.r.s employee’s get stuck in a job they may or maynot like until they are damn near used up, because the o.p.m. (a.k.a. The federal gov’t/Washington) has to pay for their pricier retirment annuity’s. More power to all of you fine soul’s that have the ability to “hang in there” and eat that load of “S” for more year’s. I took the 2009 VER at age 45 with 25 years of service, and the the prior poster on this site ( STEVE ) was right…the loss of STRESS was more than worth the supposed loss of income!! I had a few month’s there that i actually woke up and got ready to go to the “hell-hole” and then realized ” I AM FREEEEE”, thank you lord!.Also, for those of you that are really worried about the loss of income, do yourself a favor and start going to TSPTALK.COM and following the daily market commentary, and the AUTO TRACKER link’s (preferably the SENTIMENT SURVEY SYSTEM post), they are all tsp participants and for FREE you get to follow what interfund transfers (IFT’S) thnat they make in real time. The system got me 35 + (%) return on my tsp in 2010!!! Cost me zippy. So i made 10 monthly withdrawal’s of $1600.00 in 2010, and even after the tax & 10% penalty on each payment that i will owe this year, i am still ahead in my tsp account by $5000 from where it was at this time last year! Stayed home, relaxed, did what i wanted when i wanted, and lived off of wall-street’s interest and the o.p.m’s dime….SWEET!!!! But you must really pay attention to CNBC channel as well as TSPTALK.COM, and make any IFT’S by noon Eastern Standard Time…And, the “S” fund is the go to…Beat’s the hell out of a forklift and an ignorrant self serving supervisor (that is younger & less stressed than you)…;-). well, i hope this help’s ANY of you, remember, like a previous poster stated, do the math!! Taxe’s(medicaire/Social Security, ect..), gas, take-out food at work, car payments/upkeep/ repair’s. they add up to you working hard for not alot of xtra take home! Also, in case you are not aware, even if you take a VER/early retirement, you can go back and get a job with the p.o. again after 2 year’s and it doesn’t effect any incentive cash you MAY get. It will effect your o.p.m annuity amount, unless it is not FULL-TIME, that’s the kicker, and i found it so funny i almost didn,t laugh!! I was offerred an assistant/part time “releif ” postmaster’s job at my local p.o. for 12-36 hour’s per week , wouldn’t have effected my annuity or buy-out money in any way…and i was a mailhandler for 25 year’s!! HAHAHAHAHA , go figure. Good luck to you all.
The Postal Service are always starting rumors, about early out to get employees worried about nothing. Management knows for a fact that the only people that take those early outs are the ones that going to retire anyway. I wonder when craft personnel are going to wake and smell the coffee. Management never talks about all the bonus money that are paid to upper level personnel, or all the mismangement that goes on in the service. All they do is blame the craft employees for their incompentence, which is rampant in the Postal Service. You must remember, that Management calls all the shots; and when they realize that if they would stop trying to screw us over so much things would be better of for the whole. My plan is to work until the cows come home.
SHOW IS some CASH . GM and other major corp. do it when they want to get rid of personnel .Dont wast your time and money printing up all that VERA paper work
It’s the thought of miss calculating whether to wait and hold out for incentives and by doing so staying and waiting for this other offer, that might not ever come. I risk the opportunity and wind up getting trapped, with the threat of social security increasing the retirement age to 69 or 70 years old, not having a contract, not knowing if we will be still using a high 3 or a high 5 calculation and if we will continue to increase our salaries based on the unions or cola over the next couple of years I’m not taking any chances one way or the other. c u all in retirement at some point eventually.)
To Bad Boy you are correct FERS pension isn’t much but if you take early out you are able to take out TSP money before 591/2 WITHOUT PENALTIES if you separate from govt service after 55 or you receive your account balance in monthly payments based on your life expectancy Read IRS Publication 721 and IRS Publication 575 Also at your MRA you are eligible for special annuity supplement I pray for early out, just let me go even if there is no incentive I’m 56 with 23 years and just want to get out
If under FERS one cant afford to go. 48 and 25 years here , so elligible if things are as usual ( 50 with 20 years or any age with 25 years ) , but only recieve 800.00 per month under FERS and cant use TSP until 59 1/2 .
I’m welling to bet that there will be a buy out for C.S.R.S. employee’s only.It makes sense, get rid of the old timers. If you don’t have the time to retired ? you are going no where. You are still young the P.O. want to keep you . CSRS are the people the P.O. want to say good-bye to. I bet you. Spoke to my Union president , he said to me, N.A.L.C. and management are working on a buy out package for ?? he didn’t say. But i bet you that is for C.S.R.S. carriers. He said relax and wait for news in the next month or 2 . January–March. $ 25,000 and 3 years ? will get all CSRS carriers out.. . 5 years to your time only ? will get me out. 5 years and $ 25,000 ? all CSRS will go for sure. C.S.R.S. carriers lets hope and pray for a buy out. I personally ? don’t care to be on the street for 7 hours, but if no buy out ? i’m staying for 4 more years. I have 34 years with the post office–3 years with in the Marines 37 years. Would like to retired with 41 years.
he held her hand and the truth is a defense
yeah….i’m here…..are you trying to be funny, Mr. Fossetta?
does anybody know cris carwash
way to go Cliff: SHOW ME THE $$$$$$$$$$$$$$$$$$$$$$$$$$$
Thank you Dave Kahlmorgan, Good luck in your retirement im 53 yrs old CSRS letter carrier with 33 yrs service ,Ive had enough, however im not taking a penalty no WAY! show us the $$$ and yrs with no Penalty and im outta here or i will stay to the bitter end collect my 440 hrs AL at the end good luck to all P.S. Its true the union pushes MDA FOOD DRIVE CUSTOMER CONNECT all important causes dont get me wrong however how about doing what they are paid to do represent LETTER CARRIERS and the quality and working conditions of our jobs
I was making plans to go. Then it hit me. Quadruple by-pass surgery. Out of pocket expenses & a son who’s starting college, house note. I’ve got 40 yrs and unlike some, the Gateway District isn’t that bad. Yes, we’ve all seen the clowns, the yes men/women, the incompetent kids who are running the show, who in fact could be ours. When you get to that Golden Age of retirement, you hear nothing the supervisor says. You’ve earned that right. Am I going, yep but on my own terms. Can we live off retirement alone, no. I don’t have a green thumb, so I’ll probably get a 3 days a week job to keep active. Because it’s what I want to do, not because I have to. A buyout of substance and I’m gone. $15,000.000? Chump change. $25,000.00? After taxes what is it, $16,000.00 or a new car. Everyone needs to leave on their own terms, as CRSR employee’s, we’ve earned that right. Pay me. As the movie goes “Show me the money”.
I’m a carrier in Paramus ,NJ …CSRS..59 years old and will have 30 years in October….I’m leaving no matter what…a few years and some money would be nice..but if that is not the case I’m still leaving..too much work and not enough time to do it in…I think the Postal Service is gonna destroy itself from the inside..FSS is the worst thing i’ve seen in 30 years…good luck to everybody
I was worried I might have made a mistake getting out with over 40 yrs. I kept hearing all the rumors about $$$$$ being offered in March. I was thinking of trying to recind my retirement of Feb. 1. But after reading all this I think I made the right choice to go. 3 days and I’m out the door. Good luck to all my fellow Postal workers, you are all a great bunch of people.
Add 5 years to our service
I am CRSR with 30 years in May.I just want out,not concerned with a buyout,although it would be nice.I hope they offer something soon.The stress does get to you.I wish we could hear the truth,instead of all this hear say….
Our District has PTF working on detail in the District office while they send “undesirables” on 150 mile round trips to work, while protecting “pets” with modified schedules and other accomidations. I would love to see every Level 20 and up in this district get dragged out in handcuffs and leg irons. They are a bunch of manipulative, back stabbing, dishonest scum bags!!! They is no Integrity in this district.
Cash or not, I’m out the door. I pray for an early out every night. The stress they put on their oldest employees almost makes me think they are forcing us out. No money is worth this. “Losing money”. That is a joke. Every employee out there can tell you the waste of it every day. Ready Post, Mystery Shopper, all the posters and crap you are suppose to sale and don’t and they just send you more. Get rid of mystery Shoppers and let the supervisor do his or her job Why do we have to buy our supplies out of a catalog which charges you $28 for a lobby pen? The list goes on…….As long as it gets scanned, nobody cares if its done!!!
The last year CSRS was offered was 1983. Anyone hired that year at the age of 18 (Nationwide) would not be 55 until 2020. Even if they make an offer to get rid of CSRS employees the earlist would be 2015 when these people hit 50, if any were hired younger under a special hiring those people’s eligible would be later by a year or two. So the earliest chance would be approximately 2020 when they are of age without any penality. I was hired at 21 in 1983 as an M.P.E. I do not see how CSRS has any impact at this time as it is still to soon. With people not eligible to retire until 2020 CSRS has no impact and if they had to prefund at the 1983 level of employment nothing would change until the last person is gone which will probably be later than 2020. How many people go at 55 these days? It would have to be one hell of an offer.
the post office has to do something.they can’t sustain these losses.if the public knew what postal employees make a year they would freak.i took the early out last time.i had 29yrs plus 4 yrs military that i bought back,i make about 2100.00 a month after taxes and health benefits.it was the best move i maded.no more dealing with management and there insane ideas.
I’m not like most of you. I’m a clerk with 16 years in at age 35. The past three years I’ve been working full time and going to school full time. I’m one year away from my electrical engineering degree and was considering leaving anyway to intern for a year with a local power company before graduating. I’m just staying around to see if they offer a cash out like last time. I’d hate to leave now and miss out on potential free money.
Just remember CSRS employees if you don’t retire when it’s your time you lose the free money for staying home versus spending gas, food, etc., etc., etc. to go to work daily. I call it easy money that you work hard for all your life. There is no right time for retirement but you must secure it before it’s gone. In life you have a choice, walk to the Post Office and mail a letter or do what I’m doing now internet everything. I was warned about this many years ago and ignored it now it’s a reality, take notice. The Postal Service will eventually get smaller because everyday people make adjustments on the job and in life. Collecting for staying home is wonderful and ideal, try it you may like it.
P.S. If you have bills pay them for free while staying home. Think about it.
pay me what you payer potter and i will go !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
how about that, p.o. has no money bull shit !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
you what us out pay baby pay
Any incentive the Post Office offers to craft must go through the Unions first. Burris
negociated the last incentive with Management and told employees not to accept the VERAs without incentive. It will be interesting to see what the Post Office will
come up with.
For all who are eligible for immediate retirement, just go. Leave the future incentives to people who have more than 2 years to go to MRA. This is the only way it makes sense to give an incentive. In 1992, 40,000 people took $25,000 and it cost over 1 billion to the post office( 32,000 craft and 7,000 management/administrative personnel). The post office will give no incentives till we go 5 day delivery.
I’m a letter carrier with 28 years of service with the USPS. It would be very nice to get some kind of “real-world” incentive from the USPS to retire early. However… in all of my years as a letter carrier, we all know how management doesn’t want to give us a damn thing of any kind of value, money or otherwise. How many times have we seen employees retire from the USPS after 30+ years of service, and only get some kind of token offering or certificate? Sure, getting CSRS employees like me and many others out the door with some kind of cash incentive and even years of service added to our annuities would save the USPS a lot of money in the LONG RUN, but… with its track record of wasteful practices, why should management change its ways? Hey, management idiots… I’m making $27+ per hour. Retire me, get a new 20 year-old employee at $16/hr, and work their ass off. That’s $11.00 per hour savings. $11.00 x 2080 annual work hours, that’s $22,880 yearly savings you get on straight wages alone, not considering overtime. You dummies could well afford to give me 2 years of these kind of savings or even $50,000 to leave. I’d gladly go. After that, the savings would amount to a fortune in wages. Even an additional 3 or 5 years added to our annuities wouldn’t cost that much in the long run. That’s the problem with management in the USPS. They want immediate results NOW, and numbers to justify their actions. They would rather bully and intimidate employees out of the USPS than implement a workable solution. I’ve seen it here in my small Kansas office. Real change takes good planning and time to implement the changes. USPS… I was offered 2 VEROs, and why didn’t I leave like you hoped I would? It’s because I couldn’t afford to. I’m 56 now, and I guess you’ll have to keep paying me at top-scale wages until I’m at least 62 or the USPS goes out of business, whichever comes first.
Am I correct in understanding that if you get RIFFED, you will get severance pay but will not get to keep your FEHB medical insurance? If this is so, one would think it is better to retire if one is able to and at least have enough to pay for your medical coverage even if you need to find another job. After all, it would be more costly to get private insurance on your own and is no guarantee of finding another permanent full or part-time job providing health benefits in today’s economy. Plus one is still susceptible to future layoffs anywhere else in private sector. Severance pay from RIF would not last but a few months and not nearly as long as lifelong pension to cover health benefits which is important as we age.
If the Postal Service really wanted to get rid of people I feel that they would of offered the employees something worth while, A bonus with time added to your age and service.
I retired almost one year ago after hitting the big 55. It was worth the wait.
Do not believe otherwise…a full regular pension is wonderful!!!
Many CSRS employees would go if the USPS would not penalize them 2% /year
shy of their fifty fifth B-day.
Will management ever get that smart?
NEVER!
Why would anyone leave early with no payout? What is it that the PO doesn’t get about incentive money? In the long run they would save a fortune in benefits and payroll. This is a fact that’s been proven over and over again in the private sector.
Here’s a question HQ … Why would a person with 2000 hours of sick leave valued at over $35000.00 leave early and get nothing.
If you want people to take these VERA’s seriously you folks need to wake up. NO MONEY I GO NOWHERE. I WILL STAY AT MY WORK LOCATION and USE MY SICK TIME.
I was ask to stay and wait for the buyout,but it was not worth the stress full of free radicals! There’s a rumor to re-calculate your retirement with a 5 year high and not the 3 year. Getting caught by surprise is nothing good. Good luck to those who has to stay and those who volunteer to stay!!!! That 45 year plan will hurt.
I switch to the 2-3 year plan with no stress!!!!!
E-mail me if you are serious to look at the 2-3 year plan!!!
How about a cash incentive and add two or three years to our retirement?
Give me 5 years and I’m gone. Don’t know why service time wouldn’t be a good option for USPS. I think many would jump on that.
no dough no go
to the tune of Bye Bye Blackbird————–I’m not happy,I’m a fool,the PO loads me like a government mule,I’M A MAILMAN—there’s no pride left in this joint,they’re promoting their kids while I’m scanning their points,I’M A MAILMAN-Now they say trust in automation but for me all it brings is chaos and aggravation—-the Union pushes customerconnect,food drives and the MDA while the big shots throw the Service away, I WAS YOUR MAILMAN!!!!!!!!!
Craft people that don’t read or understand how your government works: There is NO money. The company will be unable to make payroll by October of this year.
With layoff concessions and five day delivery an early out for craft is not needed. The company will simply lay off the younger employees, work the older ones five days a week until they retire and then call back the laid off ones. Damn, it isn’t brain surgery….are you all really that dumb? Note: federal law now only allows a maiximum of $25,000 to be paid to any federal employees for an early out (for all of the $50K dreamers out there).
Ive got 34 yrs in. All they need to offer me is 3 additional years of service and I will be long long. But, they wont offer any $$$. If they would buy out CSRS with extra years of service (like 3 years), they would get plenty of takers.
I heard some numbers a week or so ago as to how many people work for the P.O. who are over 80 yrs old. I dont recall the number but it was more than I would have thought. AND if you continue to work into your 80’s you get your wages AND your pension at the same time. The oldest postal employee right now is 98.
There are about 100,000 CSRS left. And the only way I am going this year is if they max out my pension.
They have offered 3 early outs in the last 3 years the last one offered 15,000. the first 2 offers enticed almost no one to go. the 15 k got a few of the people on the fence to go. If the next offer is the same as the first 2 no one will go, do they think because a different pmg offers it people will take it. WTF
not good incentive not retire that is my opinion Yam fers with 29.5 years in the service.
Rick; Check your facts. RIF involves a 1 time payment. And elligiblity for unemployment. Federal regs cover this all do your research.
They are not offering anything the first go-around, just go . Expect no one taking it. Next shot will be a year added. Some will jump at that. Not enough will. 3rd time is the charm. A year and cash. How much cash remains to be seen. USPS can’t offer $$$ when it is strapped. They will have to show to OPM that they will recoup the costs in the next years budget. Can’t RIF without offering something substantial.
It will be a wild ride!
Although not verified, the information seems logical with what’s happening with the post office. Sorry, for those who are already eligible for immediate retirement. No incentive.
Art, I understand where you are coming from. I took a early out with a little over 29 years in. I took it because of my injuries and Disibility Retirement doesn’t pay much. I am a fers retiree and I figured I would get more than what I get now. Wrong, OPM pays me $150 dollars less. Also you have to figure your cost of health ins. will go up as soon as you retire. Health Ins keeps going up yearly and you do not get colas until your 62 as a fers retiree. My point that I am saying is, I would try to hang in there longer. I sure wish I could have. Thank god my wife has a retirement coming in….
Well put art, one of the smart ones!!
They should offer all CSRS employees 55 years old and with 10 years or under to retire thier full 80% pension.
I have about 7 years left and I would take that over any cash incentive. We would all make out in the long run, especially if we end up with a pay freeze!
The postal service will be rid of a good majority of the higher paid employees along with thier benifits, and as of Jan 2011, $3560.00 a month sounds just fine with me.
Postal Service craft worker for 34 years .Out on SL right now. Trying desperately to hang on until at least July 1,2011. Our facility is awash with rumors. VER offer in March for craft, no Incentive. VER offer in March for craft with $25,000 Incentive. VER in March for craft with $25,000 Incentive + 5 years added Service Time. VER in March for craft with $50,000 Incentive(Not sure USPS could even offer this unless it was divided into 2 payments… one in 2011 Fiscal Year, the second in 2012). Something is coming and soon. They have to offer Incentives if they hope to get even close to numbers they desire. Barely 20,000 took VER with $15,000 cash in 2009. A $25,000 Incentive with/without years added is minimum most CSRS employees would even consider to leave now.
I`m FERS with 23 years and at minimum retirement age. I can`t get out quick enough if there is an early out. I`ll be happy with my modest pension annuity, my special retirement supplement and the right to start withdrawing my nice fat TSP account WITHOUT PENALTIES. If I don`t take it now I`ll have to wait untill I`m 60 for the same eligibility, another 4 years. Sure there will be more money if I wait but I decided long ago money is not my master. To me it`s a no brainer to get out from all the stress,aggravation, incompetance, stupidity, backstabbing and buttkissing while I`m still relatively young and not completely broken down. I`m a walking carrier and if it comes I`ll leave and laugh when I have my mail delivered by one of the many old, broken down no-life carriers I work with that have been eligible to leave FOR YEARS. People think they`re immortal but they`re not.
Take the penalties off the table and people will listen, I have 3 years left and will work them all until a decent ver comes along.
Years ago Potter was touring the GMF in Boston and someone asked him when would they have a civil service early out. He said everyone civil service is cheaper to keep around than FERS because there is no employer social security matching contribution.
Show us the money!
I’m a CSRS veteran with over 34 years, hardened by the regime, hurt by the economy and dependent college costs. I’m sticking it out. In our office the workers manage the place while management shuffles the paper and put in the useless numbers and codes. We workers stick together and the work gets done in spite of management.
Cash is the only way i go. Pay all civil service carriers and i believe we would leave in droves.
I agree Ed. I took the last buy out of $15,000.00 and after taxes it amounted to peanuts. But I can honesty say that retirement and being away from the post office is great and I don’t miss it. I am glad I didn’t wait for a later or bigger buyout.
It’s not a rumor, it’s a test to see your reaction. Once they gave a buy out they will never get anyone to go with out $$$. Make it a RIF and I’ll take the severance pay!
I agree Ed. No buy out coming for carriers. Possible incentive only if a) 5 day delivery b) More casuals and retire older carriers. I do not see that happening until at least until after the next contract and/or all FSS machines are in place.
I had 32 years. Left the first of the year. I find I am still thinking, dreaming of the PO. What I find is the crap that happened to me two weeks ago is falling by the wayside and there is no other crap that happened last week or this week to replace that. The pit feeling of having to deal with management, weather, slug carriers the next morning is NO longer there. Starting to sleep through the nite…It’s all good…work your numbers so that your expenses meet your income and LEAVE. Did I mention it’s all good?!
I just retired Oct. ’10 after 29 years as a letter carrier. I was hoping for a buy-out also, but since that never came, my butt was out the door. And I must say it has been the smartest thing I’ve done in a long time. Trust me, your stress level falls quickly by the wayside when you can walk away from the USPS and that retirement check coming in each month is nice too. So, buy-out or not, think about it during this VERA!!
No Fool and JSD are right on the money
Just like NoFool stated, we can still make $25,000 in six months instead of retiring. Money talks, the rest of it just walks.
Show me the money or I won’t go.I can make $25000 for sticking around another six months.
sound like another joke from usps!!! cash talks if you want us to walk
Does anyone know how many postal employees are left in CSRS ?
I agree with DHud55. Although Federal Soup can be very helpful, it’s full of speculation by people who are not in any position to know the facts. Headlining an individual response is totally irresponsible on your part. You state that it’s floating around the internet. Other then Federal Soup, where has it been been “floating”?
Federal Soup is a DISCUSSION BOARD not a news source.
Don’t spread this rumor. There is little in real information available in this post. Be patient, wait for the facts.