USPS: Employees urged to review benefits statement

This is a mock version of the personal benefits statement that USPS is mailing to all employees.

The Postal Service is mailing all employees a personal benefits statement that details their overall compensation package.

When you receive your statement, USPS wants you to pay close attention to the following information:

• What you paid in 2018 for health benefits. Many employees pay for more health insurance than they need, often giving up thousands of dollars extra a year.

Checkbook’s Guide to Health Plans, a tool available on LiteBlue, can help you compare your current health plan to other available options.

• How much you contribute to the Thrift Savings Plan (TSP). If you’re under the Federal Employees Retirement System, you’re encouraged to contribute at least 5 percent of your basic pay toward TSP to receive a full matching contribution from USPS.

For 2019, the maximum you can contribute toward your TSP is $19,000 if you are younger than 50, plus an additional $6,000 in catch-up contributions if you are 50 or older. Additional TSP information is available on LiteBlue.

• Your Federal Employees’ Group Life Insurance (FEGLI) coverage. Determining the right amount of life insurance coverage depends on your life and family situation. The amount of coverage you need, as well as the amount you pay for coverage, changes over time.

You can review and make changes to your FEGLI coverage on LiteBlue.

If you have questions about your personal statement of benefits or how to make the most of your benefits, email the Benefits and Wellness team.

Source: USPS

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Required fields are marked *