USPS OIG Report: Treasury Inflation-Protected Securities

Objective The Postal Service participates in three retirement plans: The Civil Service Retirement System (CSRS), the Federal Employees Retirement System (FERS), and the Postal Service Retiree Health Benefits (RHB). The first two are pension plans, and the third is set up to fund RHB premiums. The Office of Personnel Management (OPM) administers these programs, including…

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Update on the Postal Service’s Share of CSRS Pension Responsibility

May 7, 2018 (RARC-WP-18-009) When Postal Service employees retire under the Civil Service Retirement System (CSRS), somebody has to pay for their pensions. For people who used to work for the former Post Office Department and then later worked for the Postal Service, the federal government and the Postal Service split pension costs. Under the…

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ELM Revision: Update to Definition of Basic Pay

Effective January 4, 2018, the Postal Service™ is revising the Employee and Labor Relations Manual (ELM), sections 532, 538.3, 566.252, 586.252, and 592.1, to remove outdated references to “Cost of Living Allowances” from definitions of basic pay. Employee and Labor Relations Manual (ELM) * * * * * 5 Employee Benefits * * * *…

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APWU: CSRS, FERS, SS and FECA colas for 2018

For CSRS Retirees: The 2018 CSRS retiree COLA is based on the third quarter (July, August, September) average CPI-W index (1982-84=100) in 2017 over the 2016 third quarter average. 2018 CSRS COLA increase effective with January 2018 annuity payments will be 2.0%​. For FERS Retirees: The 2018 FERS retiree COLA is based on the third…

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USPS OIG: Postal Service Retiree Funds Investment Strategies

The U.S. Postal Service participates in three retirement plans: the Civil Service Retirement System (CSRS), the Federal Employee Retirement System (FERS), and the Postal Service Retiree Health Benefits Fund (PSRHBF). The first two are pension plans, and the third is set up to prefund and provide retiree health benefits. These plans are restricted to government…

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USPS Retiree eNewsletter: Taking Advantage of Retirement Services Online

June 2017 Are you tired of trying to contact an Office of Personnel Management (OPM) representative for assistance with your benefits only to keep getting a busy signal? Or once you finally get through to customer service, you are placed on hold? The good news is you can avoid the wait! If you are receiving…

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Congressional Research Service Issues Summary of H.R. 756, Postal Service Reform Act of 2017

Postal Service Reform Act of 2017 TITLE I–POSTAL SERVICE BENEFITS REFORM This bill requires the Office of Personnel Management (OPM) to establish a Postal Service Health Benefits Program within the Federal Employees Health Benefits Program to offer health benefits plans for U.S. Postal Service (USPS) employees, annuitant retirees, and their families at rates that reflect…

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OIG Report: Update for Measuring Pension and Retiree Health Benefits Liabilities

Background The U.S. Postal Service provides pension and health insurance benefits to its retirees. Postal Service employees participate in the Civil Service Retirement System (CSRS) or Federal Employees Retirement System (FERS) pension programs. The Office of Personnel Management (OPM) administers these programs, including projecting future CSRS and FERS assets and liabilities for the federal government…

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