By Reg Jones
January 4th, 2013 | Uncategorized
Q. I am a 35-year Postal Service employee covered under CSRS. If the USPS becomes insolvent, will my retirement annuity be safe? With the fiscal crises, can Congress change my annuity to a lower benefit?
A. The solvency or insolvency of the Postal Service would not affect your entitlement to an annuity. However, the law that specifies what retirement benefits could be changed for all retirees. Such changes are usually prospective, meaning that they would apply to those retiring at some later date.
robert schwartz Says:
January 7th, 2013 at 4:44 am
SO what does thta mean? However, the law that specifies what retirement benefits could be changed for all retirees. Such changes are usually prospective, meaning that they would apply to those retiring at some later date.
Joe Ball Says:
January 7th, 2013 at 12:45 pm
Are you serious??? After 35 years service, you should know that they do what they want to do, when they want to do it. I retired with 45+ years service, CSRS, and I was always wondering what’s coming next. I suggest you retire now. You should have taken the latest offer if you qualified.
R. kent Clark Says:
January 7th, 2013 at 1:11 pm
You asked the wrong question. You should be asking “will I receive my annuity if the US government defaults on its debt?”
January 7th, 2013 at 2:02 pm
The USPS does not pay your retirement benefit. That is handled by another agency. So, the post office cold go completely out of business and that would not affect your retirement.
January 7th, 2013 at 5:37 pm
Not to worry. You’ll get your FULL retirement. It’s guaranteed by the full faith and credit of the United States government. Of course when the government goes belly up at the end of obama’s spending spree your full pension may be worth about a tenth of what you expect. What good is a $40,000 a year pension if it costs $20 for a loaf of bread?
Rocket Jay Says:
January 7th, 2013 at 6:16 pm
First are you serious you must be part of the APWU. We are all in the same boat and congress wrote CSRS off back in 1983. The last people to be at MRA is in the year 2021 for those that will reach the age of 55. If the USPS goes belly up and you cannot find job in the Fed or you chose not to retire before than you just will have to wait until 60 or 62 I think is the age if you are separated. Don’t worry about it what will happen we have no control over. After all the APWU did get a 1% raise in November.