FERS

National Rural Letter Carriers’ Association: “The USPS released the following announcement this afternoon: The Postal Service has determined that, subject to further legislative developments, it will at this point pay all the suspended employer contributions and resume biweekly payments of the employer contributions with the December 9, 2011 pay-date. Pending legislation in both Houses of [...]

Postal Service says it will suspend the employer’s contributions to the defined benefit portion of the Federal Employees Retirement System (FERS). With a $6.9 billion surplus in the Postal Service’s FERS account, the suspension will not affect employees or retirees, according to postal officials. “The Postal Service believes there will be no impact on employees. [...]