"...The economy today is much different from that of our grandparents’ time. People are no longer retiring at the age of 65, nor are many people capable of retiring that early. The cost of living and healthcare expenses have risen, and Social Security benefits are decreasing. The average retirement age is 62, and the average number of years people spend in retirement before passing away is 18..."
Sep 3, 2014
"...Thanks to a slight drop in July living costs, the tentative inflation-catch up for millions of retired Americans now stands at 1.8 percent, down slightly from the previous month. This time in July, after the Labor Department announced the Consumer Price Index for June, the cost of living adjustment (COLA) was tentatively set at 1.9 percent.
There are still two months — August and September — to go in the COLA countdown. The final figure for those months will determine how big an adjustment retirees — federal, military and those under Social Security — will get next year..."
Jul 17, 2014
"...Postal Service reform coming out of the Senate would save the agency just under $17 billion dollars, including the costs of implementation, according to a new Congressional Budget Office estimate.
The bill would extend the postage rate increase, let USPS cut back delivery to only five days a week and change the payments made to the Postal Service Retiree Health Benefits fund, among other changes...
Under current regulations, the Postal Service must also contribute money to the Federal Employees Health Benefits program as well as to the Postal Service Retiree Health Benefits Fund (PSRHBF) to help cover retirees' and future retirees' health insurance premiums. USPS has not made payments toward the future retirees' fund over the last four years due to its poor financial situation.
With the new bill, USPS would no longer be required to make direct payments to the FEHB fund over the next two years, stated CBO. Instead, the..."
Jun 1, 2014
"...As the United States Postal Service looks for new ways to save money, one of the options it is considering is making changes to employee retirement benefits to bring them inline with new, emerging private sector standards. But there’s a slight catch: federal law and union rules prevent USPS from making such changes on its own.
The USPS inspector general this month issued two white papers that examined the retirement and benefits provisions of six private sector companies and two government sector programs. And while the studies found many similarities between the government and private sector, there are key differences that may stand in the way of immediate changes for USPS employees..."
Mar 26, 2014
"...Office of Personnel Management Director Katherine Archuleta announced a new strategic plan Tuesday that she said will help the agency “recruit, retain and honor a world-class federal workforce.”
While Archuleta said the “Strategic IT Plan addresses our technology needs across the agency,” the plan itself states that it is focused on “especially retirement programs and USAJobs.”
Those two areas represent the entire spectrum of federal employment, from recruitment to retirement. Recruitment and retirement also are areas in which OPM has had extensive information technology difficulties in the past..."
Read more at The Washington Post