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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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is revising the Employee and Labor Relations Manual (ELM), sections 532, 538.3, 566.252, 586.252, and 592.1, to remove outdated references to “Cost of Living Allowances” from definitions of basic pay.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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OIG Report – Employee Benefits, Withholdings, Contributions, and Headcount Reporting to OPM

BACKGROUND At the request of the U.S. Office of Personnel Management (OPM) Office of Inspector General (OIG), we performed procedures agreed upon by the OPM’s Inspector General and the Chief Financial Officer. This attestation engagement is an annual requirement of the U.S. Office of Management and Budget. Our objectives were to assist OPM in assessing…

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USPS: Learn about Open Season

What Is Open Season? It’s the annual period when you can enroll, or if already enrolled, make changes to your benefits enrollment. Unless you have a Qualifying Life Event (QLE) during the remainder of the year, this is your once-a-year opportunity to make any changes to your benefits. Benefits Programs and Dates For most benefits…

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OPM sees retirement claims backlog uptick in July

By Jory Heckman – August 8, 2017 The Office of Personnel Management saw an uptick in its retirement claims backlog in July after it brought the inventory down to its lowest point in the year just a month before. The inventory of unprocessed retirement claims stands at 17,091, about 4,000 claims away from the agency’s…

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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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