May 1, 2023 The new Postal Service Health Benefits (PSHB) Program will begin Jan. 1, 2025. The PSHB Program will be a separate program within the Federal Employees Health Benefits (FEHB) Program and will be administered by the Office of Personnel Management. The PSHB Program will provide coverage for Postal Service employees, annuitants and their…
April 26, 2023 By law, the Postal Service’s retiree assets are invested exclusively in U.S. Treasury securities, which pose little risk and generate low investment returns. If the Postal Service wanted to invest in other assets, congressional action would be required. An OIG analysis found the Postal Service could have had $1.2 trillion in retirement…
July 8, 2022 Thrift Savings Plan specialists will offer several webinars in July on the ins and outs of the program, also known as TSP. Here’s an overview of the webinars and when they’ll be offered (all times are Eastern); select each date to register online. • TSP Contributions: Taking Control of Your Future: Shows…
The Postal Service Reform Act passed the U.S. Senate on March 8 with bipartisan support. Now that the bill has passed both houses of Congress, it heads to the White House for President Joe Biden’s signature. The legislation eliminates the Postal Service’s outdated, burdensome retiree health benefit prefunding requirement and integrates the organization’s retiree health…
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
October 2021 The Office of Personnel Management (OPM) recently announced that effective October 1, 2021, FEGLI premium rates will change for some types of coverage. Premium rates for Basic Insurance for employees and Post-Retirement Basic Insurance with 50% Reduction and No Reduction will increase. Most premium rates for Option A, Option B, and Option C…
Time is running short for APWU retirees who are interested in temporary work as: Annuitant Holiday Clerk Assistant (HCA) (Click Here for example) Annuitant Holiday Transportation Assistant (HTA) (Click Here for example) Retirees have the opportunity to be rehired as temporary Annuitant Holiday Assistants again this year and work until December 31, 2021. If you…
HOW THE COLA IS CALCULATED The 2021 FERS retiree COLA is based on the third quarter (July, August, September) average CPI-W index (1982-84=100) in 2020 over the 2019 third quarter average. However, if the CPI-W quarterly average increases 3% or more, they subtract 1%. For example, a 5% increase in the quarterly CPI-W average results…
