Rep. Lynch: Hearing On Reducing Retirement Benefits is Really Attack On Federal Workers

Rep. Dennis Ross, R-Fla., on Wednesday introduced a bill that would increase how much federal employees pay toward their retirement and steeply reduce pensions for new employees. HR 3813, the Securing Annuities for Federal Employees Act, would raise contributions for current Civil Service Retirement System (CSRS) and Federal Employees Retirement System (FERS) employees by 0.5 […]

Editorial: FERS & CSRS Disability Retirement – Defending a Necessary Benefit

An exclusive article to written by Attorney Robert R. McGill Does the Emperor receive his standing because of his hereditary anointment by the gods, or because of his superior governance abilities?  Or, by giving generously to the lords and vassals and currying favor among them, does he retain power?  Or, by giving lifetime gifts […]

No ‘Payroll Tax Holiday’ for CSRS Employees

The tax cut President Obama was expected to sign Friday will not include a payroll tax deduction for all federal employees. Employees under the Federal Employees Retirement System will see their contributions into Social Security drop from 6.2 percent to 4.2 percent in 2011 as part of a payroll tax holiday. But Civil Service Retirement […]

APWU Urges House To Extend ‘Tax Holiday’ To CSRS Employees

APWU President Cliff Guffey has sent a letter to members of the House of Representatives urging them to extend a proposed 2 percent “payroll tax holiday” to postal workers and other federal employees who are covered by the Civil Service Retirement System (CSRS). Congress is currently considering a 2 percent payroll tax cut for postal […]

OPM Does Not Have Authority to Reallocate USPS CSRS Overpayments

OPM’s Response to the Postal Regulatory Commission Regarding USPS CSRS Overpayments: Legislative History OPM determines the Postal Service’s responsibility for CSRS costs in accordance with current law. OPM’s methodology is based on the determinations made by prior Congresses that the Postal Service is responsible for CSRS costs attributable to pay increases granted by the Postal […]

Editorial: Does the Postal Service Really Want Early Retirements?

In recent VERAs the Postal Service issued FERS annuity estimates that omitted the employee’s FERS annuity supplement. The FERS annuity supplement is often nearly equal the basic annuity amount. Was that to discourage early retirements so they can justify weakening the no-layoff clause in upcoming contract negotiations? The method of calculating the FERS annuity supplement […]

PRC Affirms USPS Overpaid $50 Billion to Retirement Fund

OPM Must Reconsider Calculations The Postal Regulatory Commission (PRC) released an independent actuarial report [PDF] on June 30 which confirms that the Postal Service was overcharged $50-$55 billion for payments to the Civil Service Retirement System (CSRS) between 1972 and 2009. The report recommended an “adjustment” of $50-$55 billion in favor of the Postal Service. […]

PRC Report Finds $50 Billion Discrepancy In USPS Payment Of Retirement Benefits

Washington, DC – The Postal Regulatory Commission today submitted to Congress, the Office of Personnel Management (OPM) and the United States Postal Service, an independent actuarial report on the allocation of the Civil Service Retirement System (CSRS) benefits paid to former Post Office Department employees. The Postal Service asked for an independent review of current […]

USPS OIG: Fixing CSRS Overpayment and pre-funding requirements would fully fund pension and retiree health benefits

The economic downturn and the continued electronic diversion of mail, coupled with an aggressive retiree health pre-payment schedule have combined to put the Postal Service in financial crisis.  A recent analysis of the future of the mail conducted on behalf of the Postal Service showed that mail volume may not recover along with the economy […]