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Home >Financials >United States Postal Service Annual Report 2010: Foundation For The Future >
Notes to the Financial Statements > Note 8—Retirement programs > Employee / Employer Contributions
For the last three years, employer contributions, as a percentage of employee basic pay were 11.2% for FERS and zero for CSRS and Dual CSRS. Employer contributions, as a percentage of employee basic pay for FERS will increase to 11.7% in 2011. Employee contributions for the past three years, as a percentage of employee basic pay were 7.0% for CSRS and 0.8% for Dual CSRS and FERS. The number of employees enrolled in each of the retirement plans at the end of 2010, 2009, and 2008 is as follows.
Retirement Enrollment by Program (actual numbers)
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2010
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2009
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2008
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CSRS
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90,480
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110,024
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130,126
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Dual CSRS
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5,206
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5,947
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7,128
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FERS
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488,222
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507,157
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525,984
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Total Enrollment
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583,908
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623,128
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663,238
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Expense Components
The following table lists the components of our total retirement expenses included in “Compensation and benefits” expense in the Statements of Operations for 2010, 2009, and 2008.
Retirement Expenses (dollars in millions)
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2010
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2009
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2008
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FERS
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$ 2,904
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$ 2,962
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$ 2,909
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Social Security
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1,856
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1,882
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1,932
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FERS Thrift Savings Plan
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1,049
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1,073
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1,058
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Total Retirement Expense
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$ 5,809
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$ 5,917
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$ 5,899
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Employer cash contributions to retirement plans were $4,002 million in 2010, $4,024 million in 2009, and $3,936 million in 2008. These amounts do not include Social Security contribu-tions.
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