NEW RETIREMENT-SEPARATION OPPORTUNITIES ANNOUNCED WITH INCENTIVES UP TO $15,000

 
NEW RETIREMENT-SEPARATION OPPORTUNITIES ANNOUNCED WITH INCENTIVES UP TO $15,000
After in-depth discussions between NPMHU and USPS representatives at the headquarters level, the Postal Service has agreed to offer financial incentives for a new round of retirement and separation opportunities for most Mail Handlers. Under the terms of a Memorandum of Understanding signed by both parties on August 24, 2009, those eligible Mail Handlers who choose to leave employment with the USPS will each receive incentive payments totaling up to fifteen thousand dollars (for full-time employees). These incentives will be available (with certain restrictions) to all Mail Handlers who are currently eligible for regular retirement, voluntary early retirement, and all other employees who may wish to separate from the Postal Service. Details are outlined below in the Memorandum of Understanding (which also is available for review on the NPMHU website at www.npmhu.org).

The NPMHU is pleased to have reached this agreement with USPS, as it may provide a financial cushion, and added peace of mind for Mail Handlers who might be prepared to move on to the next chapter of their lives – particularly during these extremely difficult economic times. To the extent that some Mail Handlers or other eligible postal employees choose to retire because of this incentive, the MOU also may benefit other Mail Handlers who will experience less excessing, more bidding opportunities, and other possible consequences of reduced staffing.

Please understand that none of the information in this bulletin should be considered as official retirement advice, and the NPMHU National Office assumes no responsibility for any decisions that you may make about your retirement or separation from the USPS. We have provided you with all of the pertinent information surrounding this offer. However, we realize that retirement/separation from the Postal Service is a very personal decision, based on each individual’s own finances and circumstances. Therefore, the National office is not authorized and cannot provide individual retirement advice. You should seek such advice from the USPS at retirement counseling sessions which will be scheduled in your area, and you also may wish to consult with your own financial advisor on this important decision. There are many personal and financial factors to be considered if you are thinking of accepting this incentive offer. For just some examples, you need to consider your personal family and health situation; how your health insurance, life insurance, and other benefits may be affected; what your future sources of income will be; and whether you have alternative plans and opportunities.
The Postal Service has made retirement videos available on the liteblue web site at: https://liteblue.usps.gov/wps/portal/!ut/p/.scr/Login. You will need to log in with your employee ID number and PIN, and then go to the “MY LIFE” tab and underneath the “My Benefits” section, click on “Retirement Seminar Online.” There is a CSRS version, a FERS version, and also a video on “other benefits.” Also available at the site are workbooks to download as study aids. The sessions are presented in modules that vary in length from 4 minutes to 25 minutes, and they were specifically developed for Postal Services employees only, not for those of other federal agencies. The modules can be viewed in any order, but it is recommended that the basic information modules be viewed first.
The Postal Service has informed the NPMHU that it will be offering retirement seminars, on-the-clock¸ that employees will be able to attend. The USPS also will be issuing a list of ‘frequently asked questions’ (FAQs) to answer some of the many questions that will arise from the field.

Again, any Mail Handler who may be considering this incentive-based retirement or separation option should closely review the terms of the Memorandum of Understanding, do the necessary research on the liteblue webpage, and participate in a USPS retirement counseling session to ensure that any and all questions are answered prior to applying for this retirement or separation option.
Reference: www.npmhu.org