THE BULLETIN BOARD
July 2010
[July 5th]PRC Affirms USPS Overpaid $50 Billion to Retirement Fund
excerpted from APWU Web News Article 064-2010
The Postal Regulatory Commission (PRC) released an independent actuarial report [PDF] on June 30 which confirms that the Postal Service was overcharged $50-$55 billion for payments to the Civil Service Retirement System (CSRS) between 1972 and 2009. The report recommended an "adjustment" of $50-$55 billion in favor of the Postal Service.
The PRC has submitted the report to Congress and the Office of Personnel Management (OPM), which administers the fund. By law, OPM must reconsider its calculation of the Postal Service's pension assets in light of the report; make any appropriate adjustments, and submit the results of its reconsideration to the Commission, the Postal Service, and Congress.
"The APWU has opposed the elimination of Saturday mail delivery and other cutbacks," said APWU President William Burrus. "This finding denies the Postal Service any excuse for refusing to provide the American people the service they have received for more than 200 years."
Read the entire article at the APWU News page.
[July 1st]Unemployment Compensation And the National Reassessment Process
excerpted from APWU 6/17/2010 Human Relations article
Injured employees who undergo the National Reassessment Process (NRP) and are told by the Postal Service either that there is only partial day work available or that there is no work available, should consider filing for unemployment compensation. This temporary financial assistance can serve as an important monetary bridge during the time that an employee is waiting for his or her OWCP compensation to be processed.
This program is formally known as the Unemployment Compensation for Federal Employees Program, and is administered by the states under separate agreements with the U.S. Secretary of Labor. A Postal Service employee’s entitlement to this benefit is determined by each state’s employment security laws and varies according to the individual state rules and to the employee's wage and separation history.
OWCP will pay injured employees wage loss compensation even if they are receiving unemployment compensation. OWCP does not consider this situation to be a prohibited dual payment. However, virtually every state's unemployment compensation regulations do consider this to be a dual payment, and would expect to be reimbursed for the unemployment compensation that was paid during the same period of time that a person received OWCP wage loss compensation.
Please read the entire article— visit the APWU Human Relations page.
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