The Federal Employees’ Retirement System (FERS) is one of the retirement programs of the U.S. government, and benefits are extended to U.S. Postal Service employees. FERS is administered by the Office of Personnel Management (OPM). Congress established the guidelines for OPM to set contribution rates and can alter them by passing new law or amending an existing law. Postal Service employees who began their careers after December 31, 1983, are automatically enrolled in the FERS. For Postal Service employees, a majority of FERS funding is accomplished through Postal Service contributions.
Americans are a mobile bunch. Last year, the U.S. Postal Service processed nearly 37 million change of address (COA) requests, with most of them (20.6 million) submitted as hardcopy requests.
With COA service, residential and business customers can have their mail forwarded to a new...Read More