A House committee approved a GOP proposal on April 26 that would increase federal employees’ contributions to their pensions by 5 percent over five years, beginning in 2013. The vote was along party lines, with Republicans voting in favor of the measure and Democrats voting against it, 19-15. The legislation will be sent to the […]
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 […]
An exclusive article to PostalReporter.com 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 […]
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 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’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 […]
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 […]
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. […]
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 […]
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 […]