Background This report presents the results of our performance of the procedures agreed upon by the Office of the Chief Financial Officer of the U.S. Office of Personnel Management (OPM). The report responds to the U.S. Office of Management and Budget’s requirements to assist the OPM in assessing the reasonableness of employee withholdings and U.S….
The 2022 CSRS COLA adjustment will be 5.9% effective with January 2022 annuity payments. The 2022 FERS COLA adjustment will be 4.9% effective with January 2022 annuity payments. The 2022 Social Security COLA adjustment will be 5.9% effective with January 2022 annuity payments. Source: Pay Information | American Postal Workers Union
Independent Report to OPM – Employee Benefits, Withholdings, Contributions, Supplemental Semiannual Headcount Reporting Objective We performed procedures agreed upon by the U.S. Office of Personnel Management’s (OPM) Inspector General and the OPM’s Chief Financial Officer. This attestation engagement is an annual requirement of the U.S. Office of Management and Budget. Our objective was to assist…
03/29/2019 – The White House released its plans for the fiscal year 2020 budget this month. It once again attacks workers, calling for deep cuts to salaries, retirement and health benefits. It also echoes parts of the Postal Task Force December 2018 report that calls for the elimination of union negotiated collective bargaining rights over…
02/19/2019 – On Feb. 14, Sen. Bernie Sanders (I-VT) introduced the “Expand Social Security Act,” legislation that would expand benefits and add almost 50 years of solvency to the program. Social Security, in its current form, is paying out more money to recipients than it takes in, and will no longer be able to pay…
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…
Have you started a Postal Service career job within the last few years? If so, the date you began your career appointment determines which Federal Employee Retirement System (FERS) category covers you. If you were hired after Jan. 1, 2013, and have no previous federal service — or if you had less than five years…
By Andy Medici – April 6, 2015 If federal employees were a foreign country they would rank only behind China and Japan as holders of U.S. Treasury securities, according to federal data. The Civil Service Retirement System and the Federal Employee Retirement System hold a combined 837 billion in Treasury securities, and the Thrift Savings…
