OPM Approves Early Retirement Rules;
Personnel Agency Forwards Regs to OMB for Final Approval
Burrus Update #8-03, June 4, 2003
The director of the Office of Personnel Management has approved new draft regulations governing Voluntary Early Retirements (VERA) and forwarded them to the Office of Management and Budget for final approval. Once OMB approves the regulations, it will determine how to charge early retirements against the federal budget. The next step will be publishing the new regulations in the Federal Register for public comment. The APWU has been informed that the rules will take effect as soon as they are published.
I cannot predict a specific time frame for OMB to complete its review, but it is expected to be acted upon expeditiously.
I attended a meeting last week with postal management to review the USPS process for offering early retirement opportunities to APWU-represented employees. The process will include the identification of eligible employees and notice to those employees of their eligibility. Once employees express an interest in retiring, they will have a minimum of 45 days to revoke their decision.
Upon the approval by OMB, postal management will begin the VERA process. The APWU and USPS have agreed that local unions will be informed of the specific steps to be followed.
As more information is received, it will be shared in an update.