The U.S. Postal Service wants to hold early retirement options to ranking executives as part of agency initiatives to reduce costs, Federal Times reported Wednesday.
Sean Reilly writes the Civil Service Retirement System will require participants to depart by Dec. 31 and the Federal Employees Retirement System will mandate a Jan. 31 retirement for members.
The National Association of Postal Supervisors also announced that Postal Career Executive Service members and field employees receiving pay under the USPS executive and administrative schedule are eligible to the program, according to the report.
Lous Atkins, NAPS president, told Federal Times more than half of the nearly 25,000 members could apply for the early retirement pay.
Reilly writes qualified employees will receive notification for the offer starting Sept. 16 and can file their applications beginning Sept. 20.
The regular package currently sets the retirement age at 50 years and above with at least 20 years of service, Federal Times reports.