Postal Buyout 2015? - PMG Says the USPS will not offer early retirement or buyout incentives

USPS Slashing 10,000 Jobs in 2015

"...USPS will not offer early retirement or buyout incentives, Patrick Donahoe said at the National Postal Forum, instead relying exclusively on not filling positions after employees separate from the agency. ..."    

This Article is From: www.govexec.com

Fact Check: How accurate are statements by the PMG and the Post Office as a whole? You decide. The article referenced above claims the USPS will be reducing employee numbers by "relying exclusively on not filling positions after employees separate from the agency." So in a fact check on this statement we find this announcement not long after the aforementioned article: Post Office Hiring in Memphis. An additional check on the USPS careers site identifies hiring in many crafts, albeit it is obvious the postal service is attempting to shift to a more non-career workforce to replace employees. Giving the PMG partial credit in his statement, the article does mention '2015', so maybe beefing up the workforce in '2014' will lend accuracy to the statement of reductions in '2015'. (LOL)

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Cummings’ bill would grant USPS authority to offer buyout incentives

House Democrat’s New Postal Reform Bill Finds Some Common Ground

"...Cummings’ bill would also grant USPS the authority to offer buyout incentives through 2016 -- providing voluntarily separated employees with $25,000 or an extra one-to-two years of credited service...."    

This Article is From: www.govexec.com Read our latest posts! .

Postal Service to offer retirement incentives to 150,000 workers

USPS to offer retirement incentives to 150,000 workers

"...The U.S. Postal Service announced plans to offer incentives to retire to 150,000 eligible employees, CNN Money reports..."    

This Article is From: www.bizjournals.com Read our latest posts! .

USPS buyouts, early retirement offers expected

USPS buyouts, early retirement offers expected

"...USPS officials have acknowledged they are considering a voluntary early retirement program. But Louis Atkins, president of the National Association of Postal Supervisors, said..."    

This Article is From: federal-retirement.blogspot.com Read our latest posts! .

Buyouts: Post office needs money to buy out employees

Distruptive Technology Hobbling Postal Service

"...The post office needs money to buy out those 220,000 employees. It thought it would get it from over-payments to its pension plan, but that has been ruled as money that cannot be pried out of the federal retirement system...."    

This Article is From: www.whchronicle.com Read our latest posts! .

Postal Service may offer early retirement and buyouts

Republicans blast White House plan to revive Postal Service

"...The administration isn't calling for a reduction of workers; it instead wants the agency to offer early retirement and buyouts..."    

This Article is From: thehill.com Read our latest posts! .

Prepare for a Postal Early Retirement

Are you prepared for a Postal Service or Federal early retirement offer?

The first step in preparing for a possible postal buyout is to know Your FERS Retirerment, How To Prepare For It How To Enjoy It. An excellent resource for preparing for your postal retirement is Social Security, Medicare & Government Pensions: Get the Most Out of Your Retirement & Medical Pensions. This book Guides you through the maze of Social Security and Medicare in an easy to understand format. We also recommend The Social Security Answer Book.    

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Postal Buyout

What is the latest information on the possibility of a buyout or early retirement bonus from the postal service?

A quick search of the web offers numerous possibilities in this arena. However, all the sources verify that there is not a postal buyout offer on the table at this time. Rumors are purely speculation and wishful thinking on the part of many. It appears that the environment is ripe for such offers. Some think that the USPS feels they can reduce employment numbers adequately through attrition. Although many feel reduction through attrition will not be sufficient due to the harsh economic realities this country is now facing, therefore many postal employees are either delaying retirement or not even considering it anymore. With the economy in such bad shape and postal pay raises being so small under the latest union contracts, many feel there will have to be an early out retirement cash bonus before retirement will be considered. If you are seeking more information on this subject, a search of the web offers the following informative links:

Postal eDaily

Postal News Network

Federal Times

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Postal Buyout Rumor Control

What's the latest news on the rumors of a postal buyout? The rumors run rampant, but the Federal Times reports there are no plans according to "Ask the Experts" (posted March 15, 2008.
[Reference: www.federaltimes.com]

Postal Early Outs, Postal Buyout, Postal Early Retirement ...a look at the past

With all the talk amongst the Postal Service rank and file about Postal Early-Outs, USPS Early Retirement Offers, there is always the hopes and dreams for salary bonuses to workers as an incentive in a Postal Buyout. So far, all the rumors of any early retirement, are just that ...RUMORS! However, should a buyout offer present itself, what might it look like? It the past, 1992 specifically, the Post Office offered this:
A six-month salary bonus for either regular or early retirement. Workers are eligible for immediate pensions at age 55 with 30 years of service, at age 60 with 20 years or at age 62 with five years of service. During an early-retirement open window, employees can retire at any age after 30 years of service, or at age 50 with 20 years of service. [Reference: http://www.highbeam.com/doc/1P2-1023543.html]

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Rumors of.... USPS Postal Buyout? Volunteer Early Retirement?

Plenty of rumors are floating around across the nation from postal facility to postal facility about postal early outs, USPS buyout programs and Volunteer Early Retirement (VERA). There are very few articles to be found on this subject. There is no doubt that the postal service is determined to reduce the numbers of employees substantially to justify the cost of automation as well as justifying the ridiculously low rates offered to big bulk mailers. Here are a couple of articles we have found on the subject. NOTE: None of this information has been verified, so take it with a grain of salt. The first article is from the Federal Times. This short article details the USPS' authority, or lack of authority, relative to offering a program to only CSRS and excluding FERS. The second article is from the PostalReporter.com. This article references a letter from the Los Angeles APWU detailing an upcoming Volunteer Early Retirement Authority (VERA) approved by OPM. Again, we have not verified the source. However, we speculate, if the letter is genuine, there would not be many APWU members that would take this offer, as it offers no monetary incentive. L.A., due to the size of the district, would be a great test ground to determine if the USPS would be successful without an incentive ...not going to happen for the majority since it would be costly to an employee not at Minimum Retirement Age (MRA). What do you think? If you have any paperwork that the reference can be verified, please share it with us!

The future of buyouts

The U.S. auto market has typically been a pacesetter when it comes to union contract negotiations, collective bargaining agreements, and now ...buyouts. It is a fact that America's large unions keep their eye on the auto industry when it comes to comparative analysis for the purpose of wage, benefit, and buyout negotiations. UAW and Ford have set the stage for future buyouts in labor intensive industries where automation, subcontracting, illegal immigration, and foreign competition have taken a heavy toll on the U.S. blue-collar worker. Large unions that represent America's postal workers, like the American Postal Workers Union and the National Postal Mail Handlers Union, continuously monitor the labor climate during these troubled times to garner equal or greater results. As the country snowballs into a recession, the auto industry, led by Ford and the UAW, are taking proactive steps to re-take the competitive lead in the global auto market by offering buyouts to each and every worker. The Detroit Free Press reports the buyout offer will look like this:

Elements:

• Under a special termination-of-employment program, retirement-eligible workers who volunteer to leave the company and forgo all benefits except accrued pension can receive a $140,000 buyout.



• For workers who have at least one year of employment with Ford, the special termination program calls for a payout of $100,000, with the worker forgoing all benefits except accrued pension.



• Under an educational opportunity program, workers with one year of service are eligible to receive up to $15,000 in college tuition for up to four years. Workers who take part in this program can receive medical benefits and half of their regular pay while enrolled in school.
  
  
• Workers also could opt to set aside $100,000 in a family scholarship program to be used for an educational program for spouses, children or grandchildren.



• Workers 55 and older who have 30 or more years of service are eligible to receive a $35,000 check and begin retirement immediately with full benefits.



• Workers 55 and older with 10 or more years of service will be provided a fixed level of income for life, which varies according to each employee's service with the company.



• Workers with at least 28 years of service are eligible to take a leave for two years until they reach 30 years of service, when they can retire as normal. During their leave, the workers will receive 85% of their pay.

File under "postal buyout" for reference