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Postal
Retirement Information |
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Information on this page is provided by Roseanne Jefferson.
Roseanne is a retired USPS employee with an extensive background in USPS
retirement, disability retirement, OWCP, EEO, Labor Relations and HR.
She conducts individual and group counseling and is able to
comprehensively discuss the pros and cons of employees who are on OWCP,
disability retirement and regular retirement. Roseanne will be happy
to answer your postal retirement questions. Contact Roseanne at
roseanne.jefferson@yahoo.com. |
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Postal
Retirement Q&A April 2011
Good Day
Postal Employees!! Well it has been a rock 'n' roll month, hasn't
it!! We got districts being eliminated; remaining districts having
jobs slashed; and employees with 20+ years wondering will they have
a job. Or will retirement ever be as rewarding as they once thought.
The organization is offering another VERA, and ONLY to EAS in the
affected district offices, (perhaps by the time this column goes to
print, that will change), but for now, it has been officially
reported that the following districts are being eliminated
Albuquerque, NM; Columbus, OH; SE Michigan; Northern IL; SE New
England; South Georgia, and Big Sky, MT. District offices that have
remained, are losing anywhere between 15-20% of their staffing.
For those who are offered a VERA and when you look at the FERS
retirement plan, it really is as good as YOU, yes YOU!! MADE
IT...PERIOD!! By NOT always contributing the maximum to the TSP
funds (which, by the way is the biggest component of the FERS
retirement plan) has lead our employees into a serious dilemma when
offered this early out. Aside from the obvious history of not
getting matching TSP funds, (1% agency contribution) (even if you
don't) you let the organization off the hook to not contribute
anymore than that 1% to your retirement fund. OK SO HOW AM I SO
SURE......FERS employees after they look at their monthly annuity,
special supplement; and TSP, typically they simply cannot afford to
retire. I have been doing this quite a while....this should be a
wake up call for you...get on the stick with TSP. ARE YOU KIDDING
ME...IT'S FREE MONEY.......OR DO YOU THINK YOU WILL NEVER GET TO BE
MY AGE !
With CSRS employees, 7% was automatically deducted from their
paycheck, no choice, 7%, whether could afford it or not, and
therefore the postal service always had to contribute 7%. It's the
CSRS employees are the only ones really in a financial position to
retire. But everyone knows that, it's no secret CSRS are the heavy
hitters as far as pay and benefits are concerned, and the postal
service, no different than any other federal agency, would love to
have the CSRS employees retire, they are a very, very expensive
employee versus the FERS employee.
I have AGAIN responded to all emails this month for assistance. I'm
always surprised at the incredible misconceptions that our employees
have about their retirement plan. Particularly in the last years of
their employment, they are so sure of their retirement benefits, and
are so surely wrong. I have had the pleasure of being retained by
the the APWU to do four retirement seminars; 2 for CSRS and 2 for
FERS. I have done one of each so far, my group sessions take about 2
hours depending on the size of the audience. It has always amazed me
how our organization is OK with the understanding that employees are
afraid to retire, because they don't trust the newly HRSSC to get
their retirement correct. Many in these classes I have conducted
have said the lack of information given during an on-the-phone
seminar is lacking real substance as it relates to the individual
employee. Many have stated it sounds scripted and is overly generic
when you call and ask questions. TRUE, TRUE and TRUE.
There are many reasons why this is an impossible task for the HRSSC
to be personal with the employee, but that does not help the
retiring employee have a sense of confidence when retiring. I
completed a retirement one day this month with an employee who had
the HRSSC counseling that same morning. The employee had about 1/2
the paperwork filled out, and most of it was filled out incorrectly.
I questioned client about the session in the morning, and stated
could not figure out what they were saying and they were going to
fast for me to understand. So they got frustrated with filling this
paperwork out. They also stated it was distracting to have other
people on the phone for a counseling session at the same time. Many
people don't absorb information in the same way.
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I am currently in Florida as I write this, today the much-needed
rain was just pounding the streets, so I had time to think about
this months' column. I had the pleasure of meeting an employee from
the Dayton's P&DC and was told that PDC was closing. There are a lot
changes that are different from state to state. I think when it
comes to having information that crosses the states line, you really
have to be look toward the unions for guidance, maybe more now than
ever. The email requests from all of you out there wanting to know
if I am going to be in your area. I foresee perhaps in June maybe
the NJ area and perhaps Baltimore area. I will keep you posted. And
remember everything that glitters, ain't gold. - Roseanne |
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