The American Postal Workers Union has negotiated a retirement incentive agreement with the U.S. Postal Service. The agreement will award eligible full-time career employees a $15,000 payment in two installments if they terminate their service for the USPS through retirement, early retirement or voluntary separation.
According to the agreement, part-time employees will receive a prorated amount.
“Our goal was to achieve an incentive for members who are ready to end their postal careers; to ensure that no groups of employees are excluded, and to lessen the hardships of excessing for those who remain,” said APWU President Cliff Guffey. “This agreement accomplishes those objectives.”
Full-time employees who take advantage of the agreement will leave the postal service as of Jan. 31, 2013. Part-time and non-traditional full-time workers will leave Feb. 28, 2013.
Workers who agree to leave will receive a check for $10,000 on May 24, 2013, and a $5,000 payment on May 23, 2014.
Employees who had already decided to retire earlier than Jan. 31 can still retire as scheduled and receive the incentive. Those who had scheduled retirement later than that January date would have to move up their retirement date to January to take advantage of the agreement.
To qualify for early retirement, USPS employees must have at least 20 years of service and be at least 50 years old or have at least 25 years of service and be any age.
According to the union, there is no limit to the number of employees who may accept the offer except for employees working in Accounting Services positions in the IT/ASC bargaining unit: No more than 30 employees may accept the offer in the Eagan, Minn. ASC; no more than 10 employees may accept the offer in the San Mateo, Calif. ASC, and no more than 20 in the St. Louis, Mo. ASC.
Employees who are interested in taking advantage of the incentive must make their intentions known on or before Dec. 3, 2012. Employees taking voluntary early retirement who wish to revoke their decision must do so by Dec. 3, 2012. The deadline for part-time employees and those in NTFT assignments is Jan. 4, 2013.