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U.S. Postal Service
Early Retirement Information |
Senate Bill Would Induce Postal
Employee Early Retirements
11.02.2011 - The
Courier Express and Postal Observer
calculates (clarification) that as many as 68,000
postal employees could be induced to
retire early with incentives outlined
in a new Senate bill
(PDF).
Politico.com notes the bill is
designed to cut approximately 100,000 postal
workers over the next several years. Excerpts from
the bill: |
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"CIVIL SERVICE RETIREMENT SYSTEM. - For an
employee of the United States Postal Service who
voluntarily separates from service before October
1, 2014, at the direction of the United States
Postal Service, the Office shall add not more than
1 year (as specified by the United States Postal
Service) to the total creditable service of the
employee for purposes of determining entitlement
to and computing the amount of an annuity under
this subchapter (except for a disability annuity).
An employee who receives additional creditable
service under this paragraph may not receive a
voluntary separation incentive payment from the
United States." |
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"FEDERAL EMPLOYEES RETIREMENT SYSTEM. - For an
employee of the United States Postal Service who
voluntarily separates from service before October
1, 2014, at the direction of the United States
Postal Service, the Office shall add not more than
2 years (as specified by the United States Postal
Service) to the total creditable service of the
employee for purposes of determining entitlement
to and computing the amount of an annuity under
this chapter (except for a disability annuity). An
employee who receives additional creditable
service under this paragraph may not receive a
voluntary separation incentive payment from the
United States." |
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