Postal and federal employees affected by Hurricane Sandy will find it easier to tap into retirement savings to help repair their homes, replace lost property, or to aid family members suffering from the massive storm, which devastated hundreds of communities in the northeast. To assist Hurricane Sandy victims, the Thrift Savings Plan (TSP), a tax-deferred […]
Health insurance for non-career employees USPS prepares for Affordable Care Act coverage USPS is considering how best to offer health insurance coverage to non-career employees who meet requirements defined in the Patient Protection and Affordable Care Act (PPACA). Approved by Congress in 2010, PPACA requires large employers to offer employees specified levels of coverage at […]
The LEAGUE office has been getting a number of questions regarding the incentive payments for those Postmasters that took the VERA with the $20,000 incentive this past summer. The LEAGUE office received the following information regarding those payments. The incentive payment is an adjustment that is included/generated in the normal payroll period pay cycle. The […]
The following summary report is from the OIG. Two months ago, we released a white paper entitled Causes of the Postal Service FERS Surplus. The paper was prepared with the assistance of the actuarial firm Hay Group. Hay Group found that the postal surplus in the Federal Employees’ Retirement System (FERS) resulted from differences between Postal Service […]