Do you get a pension if you work for the post office?

The Postal Service participates in the federal retirement program, which provides a defined benefit (pension), as well as disability coverage. Career postal employees may contribute to the Thrift Savings Plan (TSP), which is similar to 401(k) retirement savings plans offered by private sector employers.

How do I retire from the USPS?

While the Office of Personnel Management (OPM) makes all decisions regarding retirement entitlement, current employees are required to apply for retirement through the USPS Human Resources Shared Services (HRSSC). HRSSC can be reached by calling 877-477-3273, option 5.

How many years do you have to work to get federal pension?

5 years
To be vested (eligible to receive your retirement benefits from the Basic Benefit plan if you leave Federal service before retiring), you must have at least 5 years of creditable civilian service. Survivor and disability benefits are available after 18 months of civilian service.

Do postal workers get health insurance when they retire?

All postal and federal retirees who are eligible to enroll in the Federal Employees Health Benefits (FEHB) Program are welcome to choose an APWU Health Plan.

What benefits do retired postal workers get?

Any postal worker hired after 1984 takes USPS retirement under the Federal Employment Retirement System (FERS). FERS pays less than CSRS, but postal workers are eligible for Social Security and Thrift Savings Plan (TSP) payments. Postal workers pay into FERS and Social Security each pay period.

What is the average postal workers pension?

As an example of USPS retirement under CSRS, a postal worker with a high-3 average of around $60,000 and 20 years of service earns $1,824 a month without any deductions. That equals about $22,000 annually. A worker with the same salary and 40 years of service earns $3,837 monthly, or about $46,000 annually.

How long does FERS pension last?

How Long Does The FERS Supplement Last? If you are eligible for the FERS supplement then you will continue to receive it until the month that you turn 62. The FERS supplement is a great benefit that can help many federal employees retire early.

How much does the post office pay for retirement?

Civil Service Retirement System (CSRS) To determine how much post office retirement is under CSRS, the U.S. Office of Personnel Management looks at the highest salary earned during any three consecutive years of service. Based on years of service, a postal worker earns 1.5 to 3.5 percent of their “high-3” average salary for each year.

What is the retirement age for the United States postal service?

The standard age for retirement at the USPS is 65, and there are retirement plans placed under both Federal Employment Retirement System (FERS) and Civil Service Retirement System (CSRS) depending on whether service life began before or after 1984.

How many years of military service do you need to retire?

At age 62, an employee must have at least five years of service. This increases to 20 years of service at age 60. An employee who has reached a minimum retirement age is entitled to immediate benefits after 10 to 30 years of service.

Where can I find retirement information for postal service employees?

CSRS and FERS Handbook for Personnel and Payroll Offices, Chapter 40. The Postal Service ensures that retirement information and counseling are made available to Postal Service employees. Retirement annuity estimates are provided to all employees through the use of the National Retirement Counseling System (NARECS) as follows:

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