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Search Tags: CSRS
Postmaster General Pat Donahoe said he's ready to announce more RIFs and without legislative help USPS will face insolvency this year. Sen. Susan Collins introduced a bill to help solve some of the challenges the Postal Services faces.
Tags: management , pay and benefits , Susan Collins , Stephen Lynch , Pat Donahoe , Darrell Issa , Dennis Ross , USPS , Senate Homeland Security and Governmental Affairs , House Oversight and Government Reform Committee , FERS , budget , Jason Miller
Patrick Donahoe became the 73rd Postmaster General Friday, assuming control of the Postal Service in the midst of a fiscal crisis. Donahoe said USPS will reduce its workforce by another 7,500 people in 2011. Still, he's optimistic about the future. In the short term, however, the reality is that postal workers are likely to suffer while the agency tries to balance its books.
Federal benefits expert Tammy Flanagan joins host Mike Causey with details on the Voluntary Contribution Program. They'll discuss how it works, who can join it, and how it would work with a Roth option.
December 15, 2010 (Encore Presentation)
Has the proposed social security tax cut triggered a civil war in your office? Senior Correspondent Mike Causey says in some locations there is a major rift between younger workers under the FERS system who would get the break and their older CSRS colleagues who won't get it.
How would you like a pay freeze and a two percent raise at the same time. Senior Correspondent Mike Causey says that's what may happen to a large chunk of the federal workforce.
Friday is supposed to be a slow news day so we'll limit it to this: a 3 year pay freeze, 10 percent job cut, higher FEHBP premiums for retirees, lower benefits for future retirees and some other stuff. Interested? Check out Senior Correspondent Mike Causey's federal report.
Do you remember the good old days of double-digit certificates of deposit? Senior Correspondent Mike Causey says that even in these lean times some long-time feds still have an exclusive investment option that beats the competition.
You may be eligible for one of the best super-safe investment options around. It's called the Voluntary Contributions program and it is available only to federal and postal workers who are under the old Civil Service Retirement System, or the CSRS Offset retirement program. Details from Certified financial planner Arthur Stein.
If you read yesterday's column you know there is a slim chance you might have been placed in the wrong federal retirement system. If so, Senior Correspondent Mike Causey has a way to make things right for yourself.
The Postal Service inspector general says the agency overpaid $75 billion into the Civil Service Retirement System from 1972 to 2009. Michael Thompson, Director of Capital Investments for the Postal Service Office of Inspector General, explains.