AFA-CWA Local Council 9

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Council 9 Retirement Seminars

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In anticipation of information forthcoming from United Management regarding the EarlyOut/BuyOut Program, Council 9 AFA Leadership will be hosting two (2) upcoming Retirement Seminars.  Both seminars will be conducted by AFA MEC Benefits Vice-Chair Dan Rietema, and will be held at the American Postal Workers Union Hall from Noon – 3:30 p.m. on May 1 (Tuesday) and May 3 (Thursday). 

      

This early notice should provide those interested with ample opportunity to bid their May schedule accordingly.


While the Company is in the final stages of ensuring all aspects related to the EO/BO Program, details should be available in the coming week(s).  Your AFA Representatives have been urging the Company to plan for an extended open bid period so that those interested have the ability to fully research and determine their financial situation in order to make such an important ‘life-event’ decision.

 

This seminar is not meant to give individualized advice on whether the EO/BO is right for you, however we will outline the considerations which should be part of your decision-making process.  As we have suggested in previous newsletters, please go to the PBGC website and the Social Security website to familiarize yourself with the information there before coming to the meeting.  Also review the language of the EarlyOut/Retirement BuyOut Program as negotiated in our new Ratified Contract.  You may want to take advantage of the services of a financial planner to help provide a more personalized plan for your future.

 

We look forward to your attendance.


Council 9 EarlyOut / Retirement BuyOut Seminars

May 1 (Tuesday) and May 3 (Thursday)

                Noon – 3:30 p.m.

(Please plan on arriving for the start of the presentation)

 

American Postal Workers Union Hall (APWU)
15677 East 17th Avenue
Aurora, CO 80011-4603
(303) 365-1524


*Directions: East Colfax to Chambers, north on Chambers 1 block to E.17th, east on 17th to APWU on the left.

 

Newsletter - 04.06.12

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Inside this issue:

  • EarlyOut / BuyOut information - Stay tuned!
  • 1st of the month paycheck calculations
  • Pass travel reminder
  • Sick leave accrual increase
  • Don't forget to REPORT ISSUES!
  • FMLA News


EarlyOut/BuyOut Information – STAY TUNED!

Stay tuned for upcoming news about the EO/BO program as outlined in our ratified Contract. Now that the CrossOver Program has been bid and awarded, the Company and AFA will focus on providing more details on the EarlyOut/BuyOut Program in the coming weeks. Once that information is available, Council 9 will host several Retirement Seminars to assist those interested in ensuring you are able to make an informed decision as to your future. In the meantime, begin collecting relevant financial facts for your decision-making: contact the PBGC for your individual pension figures; contact Social Security for up-to-date projected income should you decide to retire; contact a financial planner; review your IRA's and 401k numbers. Again, we will be posting Retiree Seminar dates, times, and locations in the near future with the expectation that these will take place in April.

1st of the month paycheck calculations

If by the 20th of the month your DFAP minimum* reflects:

  • 50 hours or more –you will receive a FULL ADVANCE or 70% of the base pay
  • 30 hours to 49:59 hours – you will receive a ½ ADVANCE or 35% of the base pay 
  • Less than 30 hours – you will receive NO ADVANCE 

* Your minimum can be reduced by DNF, ANP or non-payable sick time (credited hours in excess of your sick bank total).

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