Employees

HANDBOOK REVISION

Handbook EL-502, CSRS Retirement Guide

Effective February 2005, Handbook EL-502, CSRS Retirement Guide, has been revised, and this revision is now available at the Topeka Material Distribution Center (MDC). You can order Handbook EL-502 from the MDC and use touch tone order entry (TTOE): Call 800-332-0317, option 2.

Note: You must be registered to use TTOE. To register, call 800-332-0317, option 1, extension 2925, and follow the prompts to leave a message. (Wait 48 hours after registering before placing your first order.)

Use the following information to order Handbook EL-502:

PSIN: HBK EL-502
PSN: 7610-01-000-9077
Unit of Measure: EA
Minimum Order Quantity: 1
Quick Pick Number: 357
Bulk Pack Quantity: 80
Price: $ 0.4617

The handbook is available online on the Postal ServiceTM PolicyNet Web site:

• Go to http://blue.usps.gov.

• Under "Essential Links" in the left-hand column, click on References.

• Under "References" in the right-hand column, under "Policies," click on PolicyNet.

• Click on HBKs.

(The direct URL for the Postal Service PolicyNet Web site is http://blue.usps.gov/cpim.)

It is also available on the Postal Service Internet:

• Go to www.usps.com.

• Click on About USPS & News, then Forms & Publications, then Postal Periodicals and Publications, and then HBKs.

Since this Handbook EL-502 revision was sent to print and posted, the Office of Personnel Management (OPM) has made the following revisions necessary:

• Exhibit 231.31, Present Value Factors, is revised in accordance with the OPM annual release of its new table of Present Value Factors, effective October 2004, and published in the Federal Register (Vol. 69; No. 167, Monday, August 30, 2004; pages 52944-52946).

• 232.5, Military Retired Pay, is revised in item b to show the current reference for military retired pay as Chapter 1223, Title 10, United States Code (U.S.C.).

• 254.2, Computation of the AFA, the example, updated to be consistent with new Present Value Factor table, shows the value factor for age 62 to be 178.3 and the annuity to be $887.

We will incorporate these latest revisions into the next printed version of Handbook EL-502 and into the online version on the PolicyNet Web site.

Handbook EL-502, CSRS Retirement Guide

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2 Overview

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3 Determining Service Credit

231 Civilian Service

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Exhibit 231.31
Present Value Factors

[Revise exhibit to read as follows:]

Example: Using this exhibit, it is established that for a retiree at age 60, with an unpaid redeposit of $1,500 ($800 CSRS contributions withdrawn + $700 interest), the actuarial factor to determine the reduction to the annuity would be 188.7. Therefore: $1,500 ÷ 188.7 = $7.95 reduction to annuity per month.

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232 Military Service

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232.5 Military Retired Pay

Military service is not creditable if you receive military retired pay unless one of the following provisions is true:

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[Revise item b to read as follows:]

b. Your military retired pay was awarded under the reserve retiree provisions under Chapter 1223, Title 10, United States Code (U.S.C.).

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254 Alternate Form of Annuity

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254.2 Computation of the AFA

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[Revise example to read as follows:]

Example: The following is a calculation for an employee, age 62 at the time of retirement, with a total lump sum payment due of $20,000 and a beginning rate of annuity of $1,000 per month. If the employee elects the AFA, that annuity is $887 per month instead of $1,000 per month. The calculation is as follows:

$20,000 ÷ 178.3 (value factor for age 62) = $113
(rounded up)
$1,000 - $113 = $887

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- Compensation,
Human Resource Management, 4-14-05

ELM REVISION

Health Benefits Refund Program

Effective April 14, 2005, Employee and Labor Relations Manual (ELM) 525.132, Health Benefits Refund Program, is revised in item d to set forth procedures for processing health benefits refunds in a manner appropriate to the accounting shared services environment.

We will incorporate this revision into the next printed version of the ELM and into the online version, available on the Postal ServiceTM PolicyNet Web site:

• Go to http://blue.usps.gov.

• Under "Essential Links" in the left-hand column, click on References.

• Under "References" in the right-hand column, under "Policies," click on PolicyNet.

• Click on Manuals.

(The direct URL for the Postal Service PolicyNet Web site is http://blue.usps.gov/cpim.)

It is also available on the Postal Service Internet:

• Go to www.usps.com.

• Click on About USPS & News, then Forms & Publications, then Postal Periodicals and Publications, and then Manuals.

Employee and Labor Relations Manual (ELM)

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5 Employee Benefits

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520 Health Benefits Program

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525 Special Circumstances Affecting Health Insurance Coverage

525.1 Office of Workers' Compensation Programs

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525.13 Withholding and Contribution by OWCP

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525.132 Health Benefits Refund Program

The following provisions apply:

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d. Refunds. After verifying an employee's eligibility, injury compensation personnel must take the following steps to process the refund:

(1) Initiate PS Form 202, Health Benefits Refund Payment Authorization, on a quarterly basis (see Exhibit 525.132). In calculating the amount of refund to be paid, subtract the difference between the OPM health benefits premium rate and the Postal Service rate of the health benefits plan chosen by the employee.

(2) Upon completion of PS Form 202, obtain approval of the district manager or designee.

(3) Complete PS Form 8230, Authorization for Payment, and submit it for payment, with the refund authorization as support, to the Scanning and Imaging Center, using General Ledger Account (GLA) 52427, Miscellaneous Services.

(4) File the original PS Form 202 in the employee's injury compensation file, file one copy of this form in the employee's official personnel folder, and send one copy to the employee.

The Eagan Accounting Services Center (ASC) will forward the refund to the employee.

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- Employee Resource Management,
Compensation, 4-14-05

continue to Handbook EL-803