Third Update on the VERA
Third Update on VERA: Voluntary Early Retirement
August 2, 2008
To: All Local Unions
National Executive Board
All National/Regional CAD
From: John F. Hegarty, National President
William J. Flynn, Jr., Manager, CAD
Re: Voluntary Early Retirement (VER)
As you all know, the Postal Service has released the details of the voluntary early retirement (VER) for mail handlers. On August 18, 2008, an annuity estimate will be mailed to all VER-eligible employees from Eagan, MN. However, there is no guarantee that everyone who applies will be approved. In other words, just because a mail handler gets a VER offer in the mail will not – we repeat, NOT – guarantee a VER. The extent of this VER is still undetermined, according to what we have been told by management. Management claims that it still needs to consult with Areas and Districts to determine if there are any locations not to be covered. We have also been told that the numbers of VERs in any Plant may be limited if operations dictate, and that if they are so limited, those mail handlers having the earliest retirement computation dates will be allowed to go. The Union is demanding that this be VER be available to all Mail Handlers.
That not withstanding, on August 22, a VER offer packet will be sent to all eligible employees containing a cover letter, an application, and a list of questions and answers. Interested employees will have from August 25 to September 30 to submit their application. It is important to note that September 30 is the date when an employee's voluntary choice to retire becomes irrevocable.
The Postal Service in meetings on this subject has assured the Union that there will be “group counseling” as soon as possible, at which information packets will be passed out; also, information has been posted on the Postal Services’ LiteBlue website, portions of which we have downloaded and are attached to this memo.
By mid-November 2008, the Human Resources Shared Services Center (HRSSC) will notify employees as to the status of their VER application. At that time, additional retirement counseling will become available. Employees receiving approval will have an effective retirement date of December 31, 2008.
The National Office will continue to monitor this issue, and will keep you informed through direct mailings and the NPMHU website.
