USPS offering $20,000 voluntary retirement incentives to 21,000 postmasters
Voluntary retirement incentive
USPS also has announced a Voluntary Early Retirement (VER) and Special Incentive Offer for the nation’s 21,000 Postmasters. The offer consists of a one-time, $20,000 cash incentive, payable in two installments. Postmasters who want to leave under the VER — as well as Postmasters who have reached their minimum retirement age and service requirements, and those who wish to voluntarily resign — are eligible for this special cash incentive.
PCES Postmasters are not included in this offer.
Postmasters will have until June 22, 2012 to accept the offer and must agree to leave the Postal Service effective July 31, 2012. Postmasters accepting the offer will receive two payments — $10,000 on Dec. 21, 2012, and $10,000 on Dec. 20, 2013, less withholdings and taxes. Part-time Postmasters will receive pro-rated payments on the same dates.
All eligible Postmasters will receive a retirement kit and a retirement annuity payment estimate from the Postal Service next week.
Details of this Special Incentive Offer and general VER guidelines will be posted as Frequently Asked Questions on Workforce Connection, available on LiteBlue.